Incentives to Help Companies Relocate and Grow
Whether your business has been operating in Nassau County for one year or one hundred years, the Nassau County Industrial Development Agency (IDA) is here to help. We exist to assist Nassau County’s businesses grow and prosper, and we stand ready to help companies take advantage of profit-enhancing financial incentives.
We can help your business relocate, expand operations and finance new investments. We can also put you in touch with our partners, who are eager to provide additional services from loans to tax credits to workforce training.
Four of the IDA’s direct financial assistance programs are outlined below, and we encourage you to contact us to discuss how the IDA can customize solutions for your business.
- Real Estate Tax Exemptions: Companies utilize a “PILOT” (Payment In Lieu Of Taxes) program to make payments to the IDA, potentially saving millions of dollars.
- Sales and use tax exemptions: Companies pay no sales or use tax on construction or equipment purchases that occur during the construction phase of a new project or expansion. Through this program, companies save 8.625% (current sales tax rate) on all qualifying purchases.
- Mortgage recording tax abatements: Companies can receive a full exemption from mortgage recording tax for any mortgage recorded in connection with a project. Through this program, companies save 1.05% (current mortgage recording tax rate) on qualifying mortgages.
- Tax exempt financing: The Nassau County IDA can issue both tax-exempt and taxable bonds, making the bond proceeds available to an eligible company. Financing through bonds can save companies a significant amount of their financing costs.
To learn more about additional resources provided by our partner organizations, please refer to our Partners page.