New York State Incentives
Financial Assistance Programs
State programs support the acquisition of land and buildings or machinery and equipment. They also can help fund the construction or renovation of buildings or the infrastructure and working capital required for the establishment of an eligible company.
Funds may be available through:
- Direct loans or grants to businesses for a portion of the cost of the project and dependent on job creation
- Interest rate subsidies as a grant or linked deposit with the lending institution to reduce the cost of borrowing from private or public sector financial institutions
- Loan guarantees for working capital assistance
- Infrastructure assistance as a loan and grant combination for a portion of the cost of an infrastructure project
- The state can provide financial assistance for most types of businesses including manufacturing, warehousing, service companies, research and development, and tourism destination projects
New York State Department Of Labor Federal Bonding Program
As an incentive to employers to hire a job applicant who is potentially high risk for theft, forgery, or embezzlement (i.e. ex-offender, ex-addict, someone with poor credit, a person with a dishonorable discharge), this program will issue a Fidelity Bond to the employer free-of-charge for six months. If a worker demonstrates honesty during the first six months of Federal Bonding Coverage, the worker can become bondable for life under commercial bonding available to the employer for purchase from Travelers Property Casualty Insurance Company.
For more information about the Job Service Employer Committee (JSEC) call 315-946-7270.
Provides workshops, seminars on employment-related issues, sponsors Job Fairs, opportunities to network with other businesses and serves as a vehicle to inform DOL on how to improve existing services and new services desired.
Call 315-946-7270 with questions.
Work Opportunity Tax Credit (WOTC)
Businesses can receive a federal tax credit of 40% of the first $6,000 first-year wages ($2,400) by hiring individuals from designated target groups: TANF recipients, Veterans whose families are receiving food stamps, disadvantaged ex-felons, high-risk youth ages 18-24, vocational rehabilitation referrals, summer youth ages 16-17, food stamp recipients ages 18-24, SSI recipients. Two simple forms (one is most effective if used with all applications seeking employment with your company).
Welfare - To - Work (WtW)
Businesses can receive a federal tax credit of $8,500 over a two-year period by hiring long-term welfare recipients (continuous 18 months immediately prior to hire).
Workers with Disabilities Employment Tax Credit (WETC) Business can receive a state tax credit of 35% of the first $6,000 wages ($2,100) during the second year of employment by hiring disabled individuals. An individual qualifying for WETC also qualifies for WOTC which enables the company to receive two years of tax credits.
Finger Lakes Works
Services for Business:
- To find, train, and retain the right person
- Core Services
- Employer Orientation, Employment Recruitment, Employment and Performance Statistics, and Support Services.
- Intensive Services
- Human Resource Consultation, Account Manager, Employee Retention Services, Employee Skills Information and Services, Economic Development Information, Assisting with Downsizing and Layoffs
- Training Services
- Pre and Post Employment Skills Training, Workplace Literacy and Basic Skills Training, On the Job Training including Upgrades, Apprenticeship, Supported Work and Job Coaching, Employee Skill Training, Supervisory Training, Try out Employment, Entrepreneurial training (may be a fee)
Finger Lakes Works - Wayne County Center
1519 Nye Road
Lyons, New York 14489
Find more information on the Workforce Development page.