Industrial Development Agency

What is the IDA?

Industrial Development Agency

IAED administers the Tompkins County Industrial Development Agency (TCIDA), which delivers economic incentives to businesses that diversify and strengthen the tax base and also enhance community vitality. The TCIDA is a local public authority that has the ability to provide:

real property tax incentives
state and local sales tax abatements
mortgage tax abatements
bond financing

The TCIDA primarily serves:

Industrial development (manufacturing, software, technology, research and development, testing, and agribusiness)
Mixed use, multi-story development in the City of Ithaca’s Downtown Density District and the Lansing Town Center
Renewable energy projects

Since 1983, TCIDA incentives have supported 149 projects, representing $1.57 billion of investment in the construction and renovation of over 7.4 million square feet of facilities.

Visit the TCIDA website for more information.

Contact IAED at info@IthacaAreaED.org to learn more about how we can assist you or determine whether your project qualifies for an incentive from the TCIDA.

Amount Invested ($)

Projects

Sq. FT (constructed / renovated)

Try it on for size

Strategic Style and Smart Growth

The IDA is just one tool in IAED’s belt, custom designed to ensure maximum reliability and return on investment. Each fit requires careful consideration. But once you’ve got it going on, you’ll wonder why you didn’t get into it sooner.