Do Business Here

Industrial Development Agency

IAED administers the local 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 abatements
  • mortgage tax abatements
  • bond financing

The TCIDA primarily serves:

  • Industrial development (manufacturing, software, technology, research and development, testing, and agri-business)
  • 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.

Development Corporation

IAED administers the Tompkins County Development Corporation (TCDC), which serves as 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.

Visit the TCDC website for more information.

Revolving Loan Funds

IAED’s revolving loan funds deliver high risk capital to projects that may not be fully financed through conventional sources. They’re generally used as gap financing when bank financing and owner equity don’t entirely cover project costs.

IAED considers “traded sector” businesses (i.e., those that produce their products in Ithaca or Tompkins County, but sell them elsewhere). 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 funds is to create quality employment by attracting entrepreneurs and backing their new or growing ventures. Its as bold as it is popular, precision fit by IAED to your specific situation.

South Hill Cider

 

Top 15 Employers

Our Top 15 employers are home to two-fifths of our workforce. Nearly half of them deliver top-tier secondary, post-secondary, and vocational education, after which graduates stay local to refresh and reenergize other top industries and occupations.

 

List updated Jan 2024

1. Cornell University

2. Cayuga Medical Center

3. Ithaca City School District

4. Ithaca College

5. BorgWarner

6. Tompkins County

7. Racker

8. Dryden School District

9. Wegmans Food Markets

10. City of Ithaca

11. Maguire Family of Dealerships

12. Tompkins-Seneca-Tioga BOCES

13. William George Agency

14. Tompkins Financial Corporation

15. TC3

Workforce

  • 1. Management ($129,000)
  • 2. Educational Instruction & Library ($84,100)
  • 3. Healthcare Practitioners ($82,000)
  • 4. Business & Financial Operations ($72,300)
  • 5. Office & Administrative Support ($45,500)
  • 6. Production ($44,800)
  • 7. Sales ($40,800)
  • 8. Healthcare Support ($36,700)
  • 9. Transportation & Material Moving ($36,200)
  • 10. Food Preparation & Serving ($31,800)

 

Consistently Low Unemployment

Ithaca and Tompkins County constantly outperform federal, state, and regional averages. We weather good times and bad, always a step ahead.