The IDA is one of the primary tools utilized by TCAD to create jobs and strengthen the local tax base. It has the authority to abate a variety of local and State taxes and also serves as a conduit to the tax-exempt bond market for private sector projects. Its authority is guided by federal and State laws as well as policies established by its Board of Directors. The IDA’s policies are intended to maximize the return on investment of scarce community resources.
The number and quality of jobs, and how well the jobs meet the needs of local jobs seekers, are primary considerations of the IDA. In addition, the IDA has polices to encourage development in specially designated urban and community centers.
The Tompkins County Industrial Development Agency is managed by Tompkins County Area Development.