- A company in need of assistance completes an IDA Lease/Leaseback Application. You may contact the WCIDA office either by phone or fill out and submit the contact information online for assistance in determining the best solution for your project.
- The application is brought to the WCIDA Board of Directors, which reviews the request and the benefits to economic development in Wyoming County. The WCIDA Board of Directors currently meets the 2nd Thursday of every month at:
Wyoming County Business Services Center
36 Center Street, Suite D
Warsaw, NY 14569
The Board reviews:
- Total company investment.
- Financial history of the company.
- Jobs to be created in the county.
Once determined by the Board to be an acceptable project, the next step is to schedule a public hearing if necessary.
Once a project is approved for incentives, the WCIDA Board grants the company Business Agent Status.
- By granting "Agent Status" the WCIDA enables a business to realize an 8% sales tax exemption on certain materials and equipment being purchased and made part of the new project during the construction phase of the project.
- The company will also benefit from the exemption of mortgage recording tax, which in Wyoming County is 1.25% of the mortgaged amount.
- The company may also be granted partial real property tax abatement through a PILOT agreement. This will abate the real property tax on the increased value of the property once the project is complete.
- The base assessed value or assessed amount of the existing property remains billable at normal tax rates.
- The IDA does not reduce the existing tax obligation.
IDAs are required to hold a public hearing before approving any project for which financial assistance of more than $100,000 is proposed to be provided.
The public is encouraged to attend the public hearing held on behalf of the business requesting IDA incentives in the affected jurisdiction. If a person is unable to attend the public hearing, the IDA will take written comments concerning the project by mail, dropped off at our office, or electronically. To electronically submit any comments regarding a particular project, please email your comments to firstname.lastname@example.org.
Find more information on the WCIDA (PPT).