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Growing Monroe
The County of Monroe Industrial Development Agency (COMIDA) is a not-for-profit, public benefit corporation and governmental agency. Its purpose is to encourage established businesses to expand locally and to attract new industries to the Greater Rochester area. The agency’s primary goal is to help businesses create and retain jobs.
COMIDA and the Monroe County Department of Planning and Development's combined staff work together with other economic development organizations in the community as well as state and federal organizations. COMIDA itself does not lend money.
COMIDA offers assistance for industrial and non-industrial projects through the issuance of tax-exempt industrial revenue bonds (IRB's), taxable IRB's and tax-exempt civic facility bonds. Sale/leaseback transactions, projects financed without the issuance of bonds, can also result in considerable project cost savings (including exemption from sales taxes on construction material and exemption from mortgage recording tax).
Eligibility Recipients
- For-profit Companies
- 501(c)(3) Not-for-Profit Companies
Projects are usually owner-occupied, but can be developer-owned where COMIDA benefits are based on the projectoccupant(s). If a portion of the project remainsvacant, partial COMIDA benefits can apply. Priority is given to those for-profit companies that operate in the field of manuafacturing, or perform a technolgy-based producer service (i.e. computer software design, development, and production). There is no size limit by number of employees or sales volume as an eligibility criterion. Retail projects are not eligible for assistance, but for exceptional circumstances as allowed by New York State law. COMIDA reserves the right to make exceptions in the interest of the community.
Permitted Activities
In general, COMIDA assisted projects are limited to the purchase of land, existing facitlities, new machinery and equipment, the construction of new facilties, or the renovation of existing facilities. Under federal tax regulations, there are certain capital expentiure limitations regarding a company's eligibility to use tax-exempt IRB's.
JobsPlus
Property Tax Abatement
Monroe County's attractive tax abatement programs are administered by COMIDA. Listed below are the qualifications for eligibility for JobsPlus property tax abatement.
- A minimum 10% job creation goal over exisitng employment level and use all local labor for the construction of new, expanded or renovated facilities. "Local" is defined as suppliers and labor from the following counites: Monroe, Ontario, Livingston, Wayne, Genesee,or Orleans.
- Manufacturers, OR
- Technology based producer services compnaies, OR
- Projects using all local suppliers in the construction of new, expanded or renovated facilities, OR
- Projects involving rehabilitation of existing commercial buildings vacant for a long period of time.
For More information - call 585 753-2000 or visit COMIDA.
Enhanced Property Tax Abatement
Monroe County's attractive tax abatement programs are administered by COMIDA. Listed below are the qualifications for eligibility for the Enhanced JobsPlus property tax abatement.
- Manufacturers, OR
- Technology based producer service companies, AND
- A minimum $15 million investment in new plant, machinery and equipment or renovation of existing buildings AND
- A minimum of 100 new jobs created over exisitng level AND
- Projects must use all local labor and suppliers in the development of the facility. "Local" is defined as suppliers and labor from the following counties: Monroe, Ontario, Livingston, Wayne, Genesee or Orleans.
For More information - call 585 753-2000 or visit COMIDA.
