Wheatfield Local Development Corporation
The ToW Business Development Team is currently in the process of establishing a Local Development Corporation (LDC) as part of our initiative to attract new companies to our Town. The LDC will enable the Town to provide economic development in a variety of ways such assisting businesses with specific types of loans and grants, playing a nonprofit role in public-private partnerships, and structuring arrangements to purchase and develop real estate.
The Town Board is reviewing the proposal and more information on this exciting development will be provided as it becomes available. (Nov. 2013)
Small Business Development Resources
Sponsored by the Small Business Development Center & Cornerstone Community Federal Credit Union, entrepreneurs and existing business owners have the opportunity to attend free workshops covering a wide range of relevant business topics such as:
• Business Organizational Forms
• Financing Sources and Business Plan Development
• Developing a Marketing Plan
• Recordkeeping for Small Business
• Using Facebook to Promote your Business
To register call 716.210.2515 or email at: sbdc@niagaracc.suny.edu
Niagara Small Business Development Center
Financing Incentives
New or expanding manufacturers that locate in the Town of Wheatfield and anticipate investments in new buildings and / or equipment, that will be retaining / creating jobs and need “gap” financing to undertake the project may qualify for a direct loan of up to $250,000.
• Loan amount is based on number of jobs created and/or retained.
• Loan proceeds can be used for working capital or fixed asset financing.
• Loans bear a below-market rate with terms of 3 to 15 years, based on the use of proceeds.
• Most firms engaged in manufacturing, R&D, and business services are eligible.
Niagara County Center for Economic Development
Local Utility Incentives
Empower Niagara is a not-for-profit Development Corporation that is authorized to enter into agreements for the purpose of providing certain electric power benefits to those industries that meet the qualifying criteria and receive approval. This program is administered by the Niagara County Center for Economic Development, on behalf of the Niagara County Legislature, to review and select industrial businesses eligible for low cost power in Niagara County.
Applications are evaluated on a competitive basis based on capital investment; number of jobs created and/or maintained; types of jobs created and/or maintained; amount of net new load; consistency of application with Niagara County economic development efforts; and steps taken to reduce existing energy costs. Company must be willing to commit in writing to create and maintain jobs. Empower Niagara will strive to commit a power allocation for a period of at least three years.