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The Schenectady City Department of Development (DOD) provides services to the business community within the city of Schenectady, including business planning and technical and financing assistance. The department acts as a liaison with other city government offices (building codes, zoning, planning and assessment).
The Economic Development Fund (EDF) is under City Council jurisdiction and is part of the city’s Community Development Block Grant (CDBG) program, funded by the U.S. Department of Housing and Urban Development.
The Department of Development also is responsible for daily administration of three loan funds, two of which are overseen by the board of directors of the Schenectady Local Development Corporation (SLDC). The SLDC, an all-volunteer, not-for-profit organization staffed by the city of Schenectady, has loaned nearly $5 million to 250 projects within the city since the early 1980s. Any retail, service or manufacturing business in the city can apply for loans. In addition to the CDBG-funded loans, SLDC administers a revolving loan fund through a state grant that provides money for façade improvements.
The DOD administers the Economic Development Zone (EDZ) program that uses state funds to provide incentives for businesses locating within the EDZ. The incentives can include utility discounts, investment tax credits and job tax credits. Businesses within the EDZ also have special financing programs available to them. The EDZ has irregular boundaries within the city and a sub-zone in the Glenville Industrial Park. More details about the EDZ are available at the Web site www.sgedz.org.
DOD staff can be reached at (518) 382-5147 or via fax at (518) 382-5275. The department’s offices are in Schenectady City Hall, Jay Street, Schenectady, NY 12305.
The Chamber of Schenectady County
306 State St. Schenectady, NY 12305
Ph: 518.372.5656 800.962.8007 Fx: 518.370.3217
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