This week, the Auburn Industrial Development Authority is celebrating Economic Development Week. From May 9–13, communities across North America recognized the contributions made by professional economic developers to create more economically vibrant and livable communities.
Created in 2016 by International Economic Development Council (IEDC), the largest international professional trade association for economic developers, Economic Development Week aims to increase awareness of local programs that create jobs, advance career development opportunities, and improve the quality of life in communities everywhere.
“Economic developers play essential roles in promoting the economic health and vitality of their communities — a fact that has only been proven further by the events of the past two years,” says IEDC President & CEO Nathan Ohle. “The 2022 Economic Development Week will serve to recognize, honor, and celebrate the ingenuity and leadership practitioners have shown in working to create a more equitable and prosperous future for everyone. I encourage everyone to begin planning their own celebrations that will lift up the important outcomes economic developers facilitate in their communities.”
In addition to highlighting the available incentives and opportunities from both AIDA and the Cayuga Economic Development Authority, we took this week as an opportunity to showcase just a few of the thriving Auburn businesses that benefited from such initiatives. (You can learn about some of them here, or by following us on Twitter!)
Due to vital funding and support from our region’s economic opportunities, the city of Auburn can support both a small business economy and a larger industrial economy. We have helped attract and retain innovative businesses including NUCOR Steel, Currier Plastics, and the Auburn Community Hotel (Hilton Garden Inn) and grow vital companies such as MEDENT, Wegman’s Food Markets, Auburn Armature, Inc., and Carovail. Available incentives include:
- Sales tax abatement
- Property tax abatement
- Mortgage tax abatement (exemption of 75% of the mortgage recording tax amount)
- Cayuga County IDA incentives
- Tax exempt bonds (below market financing
AIDA (Auburn Industrial Development Authority) was established by a New York State Legislature act in 1969 as a public benefit corporation to serve private sector industrial and business development opportunities. Over the years, AIDA has been a leading force in the economic development field of Auburn, New York.
Our mission is to advance the job opportunities, general prosperity, sustainability, and economic welfare of the people of Auburn.
About the International Economic Development Council
The International Economic Development Council (IEDC) is a non-profit membership organization serving economic developers. With more than 4,300 members, IEDC is the largest organization of its kind. Economic developers promote economic well-being and quality of life for their communities, by creating, retaining and expanding jobs that facilitate growth, enhance wealth and provide a stable tax base. From public to private, rural to urban, and local to international, IEDC’s members are engaged in the full range of economic development experience. Given the breadth of economic development work, our members are employed in a wide variety of settings including local, state, provincial and federal governments, public-private partnerships, chambers of commerce, universities and a variety of other institutions. IEDC’s members create high-quality jobs, develop vibrant communities and improve the quality of life in their regions. www.iedcONLINE.org.