The purpose of Industrial Development Agencies (IDA's) in Erie County, New York is to promote economic development, prevent economic deterioration, and advance job opportunities and the general prosperity and economic welfare of the people of Erie County through the creation or retention of jobs and expansion and diversification of Erie County’s tax base. The Lancaster Industrial Development Agency works cooperatively with the municipal governments of the Town of Lancaster, the Village of Lancaster and the Village of Depew to assist businesses currently located within our jurisdiction or seeking to relocate to our area.
Business incentives are available through the LIDA to encourage investments in private sector commercial and industrial development to promote business growth in the Lancaster, New York area.
Upon establishing project eligibility, companies can use installment sales and lease transactions for:
- Purchase and Improvement of Land
- Construction of New Facilities
- Acquisition, Renovation and Expansion of Existing Buildings
- Acquisition and Installation of New Machinery and/or Equipment
Available benefits include:
- Exemption from Real Property Taxes - Payments in Lieu of Taxes (PILOT)
- Exemption from Sales and Use Taxes
- Exemption from Mortgage Recording Taxes