Herkimer County has consistently ranked among the counties with the lowest per-capita local taxes in New York State. There are no local income taxes, or local or state taxes on personal property or inventory. The combined state and local sales tax is 8.25%.
In certain instances, the HCIDA can assist a company by holding nominal title to property through its Straight Lease Program. This offers the company exemption from:
Firms in the Excelsior Jobs Program may qualify for four new, fully refundable tax credits. Businesses claim the credits over a five year period. To earn any of the following credits firms must first meet and maintain the established job and investment thresholds outlined in Program Eligibility.
The Excelsior Jobs Tax Credit: A credit of between $2,500 and $5,000 per new job to cover a portion of the associated payroll cost.
The Excelsior Investment Tax Credit: Valued at two percent of qualified investments
The Excelsior Research and Development Tax Credit: A ten percent credit for new investments based on the Federal Research and Development credit.
The Excelsior Real Property Tax Credit: Available to firms locating in certain distressed areasand to firms in targeted industries that meet higher employment and investment thresholds.
"In accordance with Federal law and U.S. Department of Agriculture policy, this institution is prohibited from discriminating on the basis of race, color, national origin, age, disability and sex. (Not all prohibited bases apply to all programs. To file a complaint of discrimination, write USDA, Director, Office of Civil Rights, 1400 Independence Avenue, S.W. Washington, D.C. 20250-9410, or call (800) 795-3272 (voice), or (800)662-1220 (TDD)."
Herkimer County Industrial Development Agency (HCIDA) is a public benefit corporation created by the Herkimer County Legislature under the New York State Industrial Development Agency Act.
Its mission is to help create and retain job opportunities within the county by marketing the area to prospective new business and industry and by providing assistance to existing companies in the region looking to expand.
The HCIDA serves as a coordinating agency for a variety of lending and financing programs offered by local, regional, state and federal agencies for the purpose of job creation and retention.
For additional information and assistance, please contact HCIDA at 315-867-1373.
