Utica Industrial Development Agency Financial Assistance
City IDA incentives for eligible Utica projects seeking sales tax, mortgage tax, real property tax, or tax-exempt financing benefits.
About this program
The Utica Industrial Development Agency provides financial assistance for eligible economic development projects in Utica. Applicants may request benefits including sales tax exemptions, mortgage recording tax exemptions, real property tax exemptions through agency arrangements, and tax-exempt financing, typically for not-for-profits and small qualified manufacturers. Eligible project categories include manufacturing, industrial, research and development, warehousing, commercial, pollution control, housing, back office, facilities for aging, multi-tenant, retail, recreational, and other projects that meet agency and state requirements.
Eligibility
Businesses, developers, nonprofits, and project sponsors with eligible projects in the City of Utica that need IDA financial assistance and can demonstrate project feasibility and public benefit.
Requirements
- Propose an eligible project located in the City of Utica
- Request eligible assistance such as sales tax exemption, mortgage tax exemption, real property tax exemption, or tax-exempt financing
- Submit the Utica Industrial Development Agency application and required application fee