Incentives and Financing,STEG,Chemung County Incentives and Financing

Promotes and assists private sector industrial development, and advances job opportunities and economic welfare for the people of Chemung County.

Incentives and Financing

Chemung County Incentives and Financing


Promotes and assists private sector industrial development, and advances job opportunities and economic welfare for the people of Chemung County.

Chemung County Industrial Development Agency

Promotes and assists private sector industrial development, and advances job opportunities and economic welfare for the people of Chemung County.


Low interest financing options are currently available for expanding businesses in the City of Elmira and the Village of Horseheads. Typical loans support up to 40% of a project’s cost at a fixed rate of prime minus two percent (pending eligibility).


Elmira Downtown Development, Inc.

Promotes the revitalization of the central business core of the City of Elmira.


Regional Economic Development & Energy Corporation (REDEC)

Provides a low cost loan program for businesses requiring capital financing at below market rates. A typical loan ranges from $10,000 to $100,000 fixed at a rate of prime minus one percent.


Small Business Development Center (Binghamton University)

The SBDC can help new or expanding businesses with business plan development, marketing plans, understanding licensing and regulations, identifying avenues for exporting products, and more. 


Chemung Schuyler Steuben Workforce New York

Chemung Schuyler Steuben Workforce New York provides workforce development programs to businesses including customized job training programs and financial assistance to meet the on-the-job training and professional development needs of businesses. It also provides regularly updated regional workforce data and information.

Regional Economic Development Councils are part of Governor Cuomo’s effort to improve New York’s business climate and expand economic growth. In 2011, ten regional councils were created and each developed a five-year strategic plan with advice from a broad spectrum of stakeholders taking into account the unique strengths and weaknesses of each region. Each region was allocated funding based on its strategic plan and as part of the Southern Tier Regional Economic Development Council’s (STREDC) allocation, $8 million was awarded to create regional three programs to help with community revitalization and job creating initiatives which includes the Rural Initiative Fund Program, the Community Revitalization Program, and the Infrastructure Fund for Shovel Ready Sites Program. For more information, eligibility criteria, guidelines, and applications please visit the Southern Tier Regional Economic Development Council’s webpage.

In addition to the creation of Regional Economic Development Councils, Governor Cuomo also created the Consolidated Funding Application (CFA) to help give economic development project applicants expedited and streamlined access to a combined pool of grant funds and tax credits from dozens of existing programs. The CFA is a modern and easy-to-use online application that allows businesses and other entities to apply for multiple agency funding sources through a single, web-based application. 


Empire State Development Corporation is the official economic development organization for the State of New York. Empire State Development (ESD) provides access to an array of services and incentives available from the State.


New York State Electric & Gas

New York State Electric & Gas (NYSEG) is a subsidiary of Energy East Corporation, a super-regional energy services and delivery company in the Northeast. NYSEG serves 872,000 electricity customers and 256,000 natural gas customers across more than 40% of upstate New York. By providing outstanding customer service and meeting customers’ energy requirements in an environmentally responsible manner, NYSEG will continue to be a valuable asset to the communities it serves.

As an active ally in promoting a strong and healthy economy in Upstate New York, NYSEG is committed to helping you. Our economic development team stands ready to assist existing customers looking to expand or new businesses looking to locate in New York


Look Upstate New York

NYSEG and RG&E offer a host of economic development programs to help build a strong and healthy economy in upstate New York. These programs can help existing businesses expand and attract new businesses to our service areas. Through our economic development programs, NYSEG and RG&E continue their strong collaborative effort with economic development partners at the local, regional and state levels.


Southern Tier Central Regional Planning & Development Board

The primary objective of STC is to participate in projects that benefit local government and the business and industrial community while improving the quality of life in the region by assisting with development, planning and coordination, providing technical assistance, research, data services and access to federal funding programs such as Appalachian Regional Commission and Economic Development Administration.


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