Direct Services
IAED delivers technical, financial, and site location assistance to “traded sector” businesses at every stage of their growth and development.
Traded sector companies produce goods or services in Ithaca and Tompkins County but sell them elsewhere. In that way, they bring new income into the area and don’t compete with the local market. Examples include manufacturing, software and technology, food and beverage production and distribution, and more.
Industrial Development Agency
IAED administers the Industrial Development Agency (TCIDA), which delivers economic incentives that diversify and strengthen the local tax base.
The TCIDA is a public authority that can provide:
- real property tax incentives
- state and local sales tax incentives
- mortgage tax incentives
The TCIDA primarily serves:
- Industrial development
- Mixed use, multi-story development
- Renewable energy projects
Since its inception, TCIDA incentives have supported 197 projects, $3.5 billion of investment in facilities and equipment, construction and renovation of $14.9 million square feet, and 255 MW of solar energy.
Development Corporation
IAED administers the local Development Corporation (TCDC), which is a conduit to the tax-exempt bond market for non-profit organizations. Bonds provide lower interest rates than conventional financing, and project fees stay local and support economic development in the community.
Revolving Loan Funds
IAED’s revolving loan fund delivers capital to projects that may not be fully financed through conventional sources. It’s generally used as gap financing when bank financing and owner equity don’t entirely cover project costs.
IAED prioritizes traded sector businesses. However, those that operate locally may also be considered for the loan program if they can demonstrate that they don’t compete with other local businesses and will create or retain permanent full-time jobs.
The aim of our revolving loan fund is to create quality employment by attracting entrepreneurs and backing their new or growing ventures.
Top Employers
Our Top 15 employers boast two-fifths of our workforce. They consistently offer quality employment opportunities that contribute to our economic vitality and quality of life.