Commercial Tax Incentives, Grants, and Financing

Real Estate Development - Tax Exemptions/Tax Credits

  • City of Buffalo 485-a Tax Exemption is a declining 12-year partial exemption from real property taxes for non-residential real property converted to a mix of residential and commercial uses. Please find further information HERE.
  • City of Buffalo 485-b Tax Exemption is a partial exemption from real property taxation for commercial, business or industrial property constructed, altered, installed or improved. Please find further information HERE.
  • The Erie County Industrial Development Agency Adaptive Reuse Program offers tax incentives for the development of buildings that have been vacant for three years or longer and are 20 years old or older. Additional information regarding ECIDA Tax Incentive Programs is available at the ECIDA Website and on ECIDA's Tax Incentive  Frequently Asked Questions Page.
  • The Department of Environment Conservation offers Brownfield Redevelopment Tax Credits.

Real Estate Development - Utilities, Energy Financing, and Incentives

Energy Improvement Corporation (EIC) Open C-PACE Program

EIC Open C-PACE (Property Assessed Clean Energy) is operated by Energy Improvement Corporation (EIC) and provides a low cost, long-term alternative to traditional loans to fund clean energy projects in commercially owned buildings. For more information, visit the EIC Open C-Pace website.

National Grid Energy Initiative Programs

National Grid Energy Initiative Programs provide financial incentives and technical assistance to replace inefficient equipment. For additional information please contact Mary Grace Welch, Lead Economic Development Representative at 716-831-7752.

National Grid Economic Development

National Grid Economic Development offers a variety of programs for businesses looking to redevelop marketable sites and buildings and brownfields. For further information visits the National Grid Economic Development website or contact Mary Grace Welch, Lead Economic Development Representative at 716-831-7752.

National Fuel New York Area Development Program (ADP)

The program provides grants for specific projects in order to stimulate economic activity and redevelopment in National Fuel's service area. For information on this program, contact Energy Services at 716-857-7776.

National Fuel New York Business Development Rates

A transportation rate discount, the portion of the bill covering delivery of the utility,  is available for businesses, not in an Empire Zone, that qualify and meet requirements.

For more information, visit the National Fuel website.

New York State Energy Research Development Authority (NYSERDA)

NYSERDA offers incentives to companies who are building a new building or rehabbing an old one for their project. For additional background information, please see the detailed Program information on the NYSERDA website.

New York Power Authority - ReCharge NY Program - Low Cost Power & Jobs

ReCharge New York (RNY) is a new statewide economic development power program for qualified businesses and not-for-profit corporations. The program is designed to retain and create jobs through allocations of low-cost power.

Capital Improvement Grants

Empire State Development Grant Funds

ESD has $150 million of capital grant funding from the Regional Council Capital Fund available for the State‘s Regional Economic Development Council Initiative, which helps drive regional and local economic development across New York State in cooperation with ten Regional Economic Development Councils (“Regional Councils”). Capital grant funding is available for capital-based economic development projects intended to create or retain jobs; prevent, reduce or eliminate unemployment and underemployment; and/or increase business or economic activity in a community or Region. For more information and eligibility requirements, visit the Regional Council Capital Fund Program (ESD Grants-REDC) website and review the Regional Economic Development Councils Available CFA Resources Guide.

Better Buffalo Fund

The fund offers up to $30 million for projects that encourage Buffalo’s economic development along transportation corridors and revitalize downtown commercial districts. For more information visit the Better Buffalo Fund website.

New York Main Street Program

This program provides financial resources and technical assistance to communities to strengthen the economic vitality of the State's traditional Main Streets and neighborhoods. For more information, visit the New York Main Street Program website.

East Side Corridors Economic Development Fund

This $65 million fund is dedicated to the revitalization of Buffalo's East Side through capital investments along four commercial corridors. East Side Avenues is a fund created by local foundations and corporations that provides capacity building and organizational support to complement the capital investments. Among the projects and initiatives receiving Buffalo Billion funds are:

For more information, visit the East Side Corridor Economic Development Fund website.