Business Incentives

In addition to a location in one of the Capital Region's premier neighborhood commercial districts, businesses in the Upper Union Street BID can take advantage of a number of economic development incentives. Review the list below, or contact Anne Savage at 518-522-6494 for more information.

Upper Union Street BID Marketing and PR Program

The Upper Union Street BID provides a comprehensive marketing and PR program including co-op advertising opportunities, BID advertising, spring and fall street festivals, and PR opportunities.

For more information contact: Mitch Messmore, executive director, 347-834-6058.

Upper Union Street BID Facade Program

This program, funded by the Schenectady Metroplex Development Authority, offers a 50% matching grant for exterior building improvements and provides design assistance and architectural services generally at no cost to the applicant. Most exterior improvements to the building's front facade are eligible, including awnings, windows, lighting, painting, etc. Signage is also an eligible activity and both attached and free-standing signs are eligible.

For more information click here or contact: Anne Savage, program manager, 518-522-6494

Schenectady Metroplex Development Authority Assistance

A unique feature of doing business in Schenectady County, the Schenectady Metroplex Development Authority is funded primarily through 0.5% of county sales tax revenue dedicated to economic development, of which 70% goes to Metroplex. Metroplex incentives are determined by the overall quality of the project and the project's potential to enhance the long-term economic vitality and quality of life in Schenectady County.

For more information click here or contact: Ray Gillen, Metroplex Chair, 518-377-1109

485-b Real Property Tax Abatement

485-b Real Property Tax Abatement - 50% abatement of the value-added assessment for commercial buildings, with a phase-in to full assessment over ten years. Applies to City, School, and County taxes.

For more information contact: City of Schenectady Assessor: 518-382-5075

Other

Many other resources are available to Schenectady County businesses. A list can be found here: nylovessmallbiz