The primary mission of the Tompkins County Industrial Development Agency (TCIDA) is to deliver economic incentives to business and industry to diversify and strengthen Tompkins County’s tax base and enhance community vitality, by supporting job creation, business and industrial development, and community revitalization. The IDA strives to develop the local economy in an organized, sustainable and environmentally beneficial manner.
The TCIDA has the authority to abate a variety of local and State taxes and serves as a conduit to the tax-exempt bond market for private sector projects. Its authority is guided by federal and State laws as well as policies established by its Board of Directors. The IDA’s policies are intended to maximize the return on investment of scarce community resources. The creation and quality of jobs, and how well the jobs meet the needs of local employers, are primary considerations of the IDA. In addition, the IDA has polices to encourage development in specially designated urban and community centers. The TCIDA targets the industrial sector and will only consider other sectors if certain criteria are met.
Since 1983, IDA incentives have resulted in the construction and renovation of over 5 million square feet of facilities, an investment approaching $800 million and more than 5,200 quality jobs have been created.
The following are two additional programs the IDA offers to encourage smart growth and high density development:
A developer seeking a tax abatement under this program must first seek approval and endorsement from the City of Ithaca. IDA applications must be accompanied by a letter of support from the Mayor and copies of all the application material submitted to the City. The IDA application must also be signed to be considered complete. The IDA will make an independent determination of the project. TCAD provides administrative and marketing services to the IDA. Potential applicants should contact the City Planning Department to schedule a meeting with Planning Staff and TCAD staff to determine project eligibility.
Lansing Town Center Incentive Program
The Town of Lansing Comprehensive Plan identified goals and objectives around creating a vibrant Town Center where higher density housing, commercial services catering to the needs of local residents, and recreational opportunities are established that increase the tax base and create a sense of community in Lansing.