Incentives & Financing
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Business Assistance & Incentives
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JCED assists businesses in their expansion or relocation projects through:
- Low-cost financing
- Revolving Loan Fund
- Microenterprise Revolving Loan Fund
- Access to additional financing through partner agencies
- Tax incentives
- Property tax abatement
- Sales tax abatement
- Mortgage recording tax abatement
- Technical Assistance
- Site selection assistance
- Assistance in navigating local, regional, and state programs, including:
- Capital funding
- Refundable tax credits
- Low cost power
- International Assistance
- Foreign Trade Zone availability
Cross-border networking with Canada
There are a number of incentives at the county, regional and state level that are put in place to help businesses launch, relocate or improve what’s already existing.
- Jefferson County’s Microenterprise Revolving Loan Fund provides below market rate financing for all capital needs of small businesses (5 or fewer employees). The maximum loan amount is $40,000 or 50% of total project costs, whichever is less.
- Revolving Loan Fund for manufacturing businesses in the amount of $25,000 – $200,000 or 50% of total project costs, whichever is less.
- Industrial Revenue Bonds promote economic growth through issuing tax exempt or taxable industrial revenue bonds for businesses that wish to locate or expand their operations to Jefferson County. This financing offers competitive interest rates, potential for 100% financing and financing for projects $1,000,000 and larger.
- The North Country Alliance provides loans for fixed assets and working capital to businesses (with less than 100 employees) from $25,000. Loans are limited to a maximum of 40% of total project costs.
- The Watertown Local Development Corp. provides fixed asset financing and will also consider working capital letter of credit guarantees.