What LDC benefits are available?
The LDC offers tax-exempt bond financing to eligible not-for-profit organizations that show a compelling need for assistance in reducing their cost for financing through the consolidation or refinancing of current debt, financing the renovation of existing facilities or financing the construction of new facilities. All of these benefits are intended to help not-for-profit organizations serve their missions.

The benefits are governed by New York State law and require that the organization and the LDC enter into formal legal agreements.

Recent LDC Projects:

A Major University: Purchase College Foundation Housing Corporation

  • Refinanced existing debt relating to the construction of dorm facilities.

A Major Assisted Living Facility: Kendal on Hudson

  • Refinanced existing debt relating to capital improvements to
    the existing facility.
  • $100,000 annual savings over 30 years.

A Major Health Care Facility: Westchester County Health Care Corporation

  • Financed a $300 million expansion and update of facilities.

 

Our Incentives

Westchester County’s various incentives help support startups, assist not-for-profits, and promote economic development through creating, attracting and retaining jobs, and more.

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Industrial Development Agency

Sales tax exemptions on new construction, expansion or renovation projects, or the acquisition of new equipment, and more help companies grow and prosper.

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Local Development Corporation

Since its inception in 2012, we’ve assisted not-for-profit organizations in securing tax-exempt bond financing benefits totaling over $400 million—at no cost or risk to the taxpayers of Westchester County.

Our Programs

Westchester County offers programs and services to assist and incentivize businesses.

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Element 46 Incubator

The new Element 46 Incubator program kicked off in 2019 to inspire and support entrepreneurial talent and the development of new businesses in the County. Nearly a hundred business leaders will serve as mentors to startups, offering their expertise, time, and support.

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Minority and Women-Owned Business Program

Westchester works to encourage, promote and increase participation of business enterprises owned and controlled by persons of color or women.

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Opportunity Zones

This new community investment tool established by Congress in 2017 encourages long-term investments in low-income urban and rural communities nationwide.

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Service-Disabled Veteran - Owned Business Program

Westchester encourages and supports eligible SDVOBs to play a greater role in the state's economy by increasing their participation in New York State's contracting opportunities.

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Disadvantaged Business Program

This federally regulated program provides a vehicle for increasing the participation by small businesses owned and controlled by socially and economically disadvantaged individuals.

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