Welcome to the
Town of Colonie
Industrial Development Agency (IDA)
John Kearney
Chairman
Sean M. Maguire, AICP CEcD
CEO
The Crossings: a great place to relaxGrowth of ColonieMeeting ScheduleIDA Applications

The Town of Colonie Industrial Development Agency

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The Town of Colonie Industrial Development Agency (IDA) is a not-for-profit public benefit corporation of the State of New York. The IDA was formed by separate act of the New York State Legislature and offers program authorized under the NYS Public Authorities Law.

The Agency is in place to help private businesses improve the job opportunities, health, general prosperity, and overall economic welfare of the Town and its residents over the long term. Our immediate goal is to retain and promote employment by supporting projects that will have a positive impact on the Town's economy

The Agency shall offer businesses financial incentives inthe form of tax-exempt and taxable bonds to cover the cost of construction, rehabilitation, and equipping for a wide range of commercial and industrial projects.

Projects undertaken by the Agency are exempt from sales and mortgage recording taxes, and real property tax abatement is also available for certain manufacturing projects. These exemptions enable the Agency to lower the costs of undertaking and financing a project.

 

 

The Town of Colonie IDA COVID-19 Personal Protective Equipment (PPE) Grant Program

The Town of Colonie Industrial Development Agency (IDA) has established a new COVID-19 Personal Protective Equipment (PPE) Grant program to support small businesses and non-profits with the added costs associated with the current pandemic. At its meeting on Monday night, the IDA Board authorized up to $100,000 to support this new initiative as part of its efforts to support commerce and industry in Colonie. Small businesses and non-profits located in the Town of Colonie will soon be invited to submit applications for these grants.

Download the 2020-08-20 COVID-19 PPE Grant Application Package here adobe acrobat pdf file for informational download

 

 

The Town of Colonie Brownfield Opportunity Area (BOA) Program

The Town of Colonie Industrial Development Agency (IDA) intends to complete a Nomination Study in the Colonie Lincoln Avenue Brownfield Opportunity Area, a 370-acre industrial revitalization area characterized by six large sites. The primary objective of this project is to formulate strategies that build upon those found in the Town of Colonie Comprehensive Plan, the Capital Region Economic Development Council Strategic Plan, the Route 32 Linkage Study and other local and regional plans. The Town’s goal is simple; redevelopment of the industrial vacant and underutilized sites by analyzing the potential to attract exciting new high tech industries to one of the Town’s few remaining industrial zones.

The IDA hopes that the project will result in community and environmental benefits, including cleanup of contaminants that may enter tributary streams that flow to the Hudson River; creation of new high paying jobs resulting from high-tech and green infrastructure industries; the inclusion of recreational uses for Town residents; improved aesthetics in and around the project area; and the incorporation of some mixed-use development along main thoroughfares in the study area.

» Please visit the Colonie BOA website for additional information