New Construction in Orange County, NY and the rest of Orange County, NY often means new expenses, new challenges and new stressors for companies large and small.
But wait: It doesn’t have to be that way. The Orange County Industrial Development Agency (IDA) can help your company with New Construction in Orange County, NY and the rest of the Hudson Valley, NY region with an enterprising portfolio of incentives your business can use to its advantage.
Working with trusted partners such as the Orange County Partnership, the Orange County IDA can offer exemptions from sales tax on materials and equipment purchased during construction projects. The Orange County IDA also provides businesses with a mortgage recording tax exemption. These benefits can help you jump start when starting New Construction in Orange County, NY and the rest of Orange County, NY.
In addition, New Construction in Orange County, NY and surrounding areas can benefit from an Orange County IDAsponsored mortgage, which makes the project exempt from 1.05 percent of the New York State mortgage recording tax. Some other incentives the Orange County IDA offers that can assist your New Construction in Orange County, NY include tax abatements for improvements on a property which results in an increase in its property value by the taking jurisdiction (village, county and school district). The Orange County IDA’s PILOT (Payment In Lieu of Taxes) program offers an agreed-upon percentage that usually would be due on the property if the project was completed without any tax abatements.
The IDA’s 10 and 15-year PILOT are given on a case-by-case basis. All projects are subject to eligibility requirements. You can also benefit from a wide array of tax incentives from the state and from Orange and Rockland and Central Hudson Utilities, which offer their own discounts for companies that relocate to the region. With the help of the Orange County IDA, dedicated to help see your project through to completion, New Construction in Orange County, NY and the rest of Orange County, NY is made much easier and attainable.
For New Construction in Orange County, NY contact the IDA at 845-234-4192