The City of Glens Falls Industrial Development Agency (IDA) is an economic development tool that allows the City
to issue Industrial Development Revenue Bonds, lease/sale agreements, installment sale agreements, as well as various tax advantages to businesses that wish to locate or expand their
operations within the City limits. Typical projects eligible for financing include the purchase and/or rehabilitation of existing buildings, or the construction of additions to existing
The Agency is in place to help private businesses improve the job opportunities, health, general prosperity, and overall economic welfare of the City of Glens Falls
and its residents over the long term. Our immediate goal is to retain and increase jobs by supporting projects that will have a significant positive impact on the City’s
Although the IDA issues the bonds, it does not actually loan any money to the applicant. Rather, a financial institution loans the funds through the IDA by purchasing
the bonds. The financial institution will review the project and makes a decision on whether or not to purchase the bonds based on the financial strength and credit of the applicant.
A City of Glens Falls IDA representative will assist in identifying and facilitating discussions between the lender and the applicant. The company will then negotiate the terms and
conditions of the loan with the lender.
The IDA issues both tax-exempt and taxable industrial development revenue bonds for the acquisition, construction, and equipping of manufacturing, commercial, and
civic facilities. The four financing mechanisms available through the IDA include:
Manufacturing facilities can be financed with tax-exempt bonds.
Commercial non-manufacturing projects, such as office buildings, hotels, and retail stores qualify for taxable bonds.
Tax-exempt and taxable bonds
A combination of tax-exempt and taxable bonds can be used for projects that include both manufacturing and non-manufacturing activities.
Projects that were previously assisted with tax-exempt bonds are allowed to repay/refund the outstanding principal amount of the “old”
bonds with new tax-exempt refunding bonds bearing a lower interest rate. Refunding at lower interest rates allows companies to remain competitive in Glens Falls by reducing their
CITY OF GLENS FALLS
PRUYNS ISLAND MASTER PLAN - REDEVELOPMENT & CONNECTION PLAN click on image to download pdf of plan
DOWNTOWN VISION AND DEVELOPMENT STRATEGY COMMUNITY CHALLENGE GRANT PROJECT SUMMARY OF INFORMATION AND DATA TO DATE
Download Downtown Vision & Development Strategy Schematics Download Glens Falls Downtown Vision &
Development Strategy Description Download Glens Falls Goals & Objectives Download Downtown Vision & Development Strategy Brochure Download plans and images
COMMUNITY CHALLENGE DOWNTOWN VISION AND STRATEGY PLAN
The City's public engagement process continues.
Following a series of public information meetings, focus groups, steering committee meetings and open house, the draft action plan is now available for review on line above.
Copy of the Draft Action Plan is available at Crandall Library and at the City Clerk's Office, City Hall.
Designs, concepts, renderings are also available for review at City Hall, first floor.
Comments on the Draft Plan will be received from the public through January 25, 2013 and may be mailed or dropped off at City of Glens Falls, Community Challenge, Community Development Office 2nd Floor, 42 Ridge Street, Glens Falls NY 12801 or by email firstname.lastname@example.org or by fax 518 798 5029
LEGISLATIVE SESSION REPORT Source: looktvonline.com
Kenneth Adams, head of the Empire State Development Corporation, discussed Governor Andrew Cuomo’s 2011-2012 session accomplishments with local leaders and residents. VIEW VIDEO
STATE WILL FEATURE FAGE, NANOTECH, IN ADS Source: timesunion.com
Gov. Andrew Cuomo just unveiled a new set of advertisements designed to attract and retain businesses in the state. VIEW ADS
BEST MID SIZED CITIES FOR JOBS LIST BY FORBES MAGAZINE -- GLENS FALLS IS 12TH
Glens Falls Mayor Jack Diamond has responded favorably to positive job growth report and national ranking from Forbes magazine for the city and the region. Mayor stated that the Glens Falls Economic Development Group has already forwarded this information to NY Empire Development Officials, Governor's Office and legislative leaders in Albany and Washington as well to several interested parties. READ MORE
The purpose of this site is to provide a brief overview of the IDA program. We encourage you to contact us regarding the establishment or expansion of your business.
We have a range of economic development programs, incentives, and economic development tools that make Glens Falls a great place to do business.
City of Glens Falls
Office of Economic Development
333 Glen Street
Glens Falls, NY 12801
Phone: (518) 761-3833
Fax: (518) 798-5029