Programs and Incentives
The City of Troy’s Economic Development Office offers programs and incentives through the Troy Local Development Corporation and the Troy IDA to help individuals who wish to start, expand, or relocate a business in Troy. If you have any questions regarding these programs, please contact Cheryl Kennedy in the Economic Development office at (518) 279-7412.
Troy LDC Business Development Assistance Program (BDAP)
Loan funds are available through the Troy Local Development Corporation to eligible for-profit businesses and commercial property owners in the City of Troy.
Contact the Economic Development office at (518) 279-7412 for more information on loan funds.
Troy LDC 50/50 Facade Improvement Program
Grant funds are available through the Troy Local Development Corporation to property owners or tenants of buildings located within the City of Troy. Grants are awarded on a 50/50 match basis.
**2016 fully subscribed. Please check back in 2017**
Industrial Development Authority (IDA)
The City of Troy Industrial Development Authority (IDA) continually accepts IDA Applications for financial assistance. IDA incentives include:
– Sales and use tax exemptions
– Mortgage recording tax exemptions
– Real property tax exemptions
Energy Smart Community Program
Funding is available for energy audits to help businesses and organizations implement energy-efficiency strategies. Download the Energy Audit Application and Brochure.
Real Property Tax Abatement
The City of Troy offers an abatement from the increase in assessment based on improvements to real property for up to ten years. Contact the Economic Development office (518) 279-7412 or the Assessor Office (518) 279-7127. Download a Property Tax Exemption Application.