Businesses in Albany County enjoy tax incentives, access to loan programs, and support at the local, county, and state levels. Our economic development partners are committed to supporting your business from startup to expansion to relocation to development.
Albany County IDA/CRC
Eligible businesses can benefit from Albany County IDA and Capital Resource Corporation tax abatement and financing programs:
- Real property tax abatement (PILOT)
- NYS sales tax abatement (8%)
- NYS mortgage tax abatement (1%)
- Low-interest financing
- Tax or tax-exempt bond financing
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Depending on the location of your project, the County or local IDAs may be able to help. Inquiries should be directed to the Alliance's Economic Development Coordinator, Rosemary McHugh (RMcHugh@advancealbanycounty.com) at 518-764-0171.
Al Tech Loan Fund
The Al Tech Loan Fund offers economic development financing at competitive interest rates to supplement traditional bank lending.
Learn more about the Al Tech Loan Fund ›
Natural Gas & Electricity
National Grid offers economic development grant programs focused on site development, infrastructure, community development, energy efficiency, and more.
Central Hudson serves some southern areas of the County and offers several economic development programs.
The Sustainable Technology and Green Energy (STAGE) Grant Program
The Sustainable Technology and Green Energy (STAGE) Grant Program provides financial assistance to support the retention, expansion and attraction of clean energy industries in Albany County. Grants will be provided based on applicant need and project impact, including levels of investment and job creation.
Learn more about the STAGE Grant Program ›
Empire State Development
- New York’s Empire State Development provides incentive and financing programs for business attraction and expansion
- Tax-Based Incentives (i.e. Excelsior Jobs Program, START-UP NY, Job Retention, Employee Training)
- Operational Support (Technical Assistance and Contractor Opportunities)
- Growth Support (Strategic Investments, Financial Assistance, Export Assistance)
- Consolidated Funding Application (CFA), a single entry point for businesses to access economic development grants and financing from a variety of state funding sources.
- The New York State Seed Funding Grant Program is now open! See if your small business is eligible for a grant of up to $25,000.
For more support offered by the County and our economic development partners, please visit our Additional Resources page ›