Volpi Manufacturing USA, Inc.
International Fiber Optic
Facility financed through AIDA
The Auburn Industrial Development Authority (AIDA) is a public benefit corporation of the State of New York, established in 1969 to provide financial and other incentives to firms expanding or locating in the City of Auburn. AIDA is an integral part of the comprehensive economic growth and organizational structure of the City of Auburn and Cayuga County, and it stands ready to welcome businesses desiring to expand or locate in the Auburn area.
The major incentives AIDA possesses are as follows:
A. Lower Borrowing Costs through Industrial Revenue Bonds (IRB's)
1. State Income Tax Exemptions
2. Federal Income Tax Exemptions
B. Payment in Lieu of Tax (PILOT) Agreements
C. Sales Tax Exemptions
D. Mortgage Recording Tax Exemptions
AIDA provides financing through Industrial Revenue Bonds (IRBs), which can be used for the acquisition of land, buildings, and new machinery and equipment and also for the construction of new meeting facilities. Recently, AIDA has worked with local government to assist firms such as AAF McQuay, Volpi Manufacturing USA, Wegmans Food Markets and Goulds Pumps, Inc. in expansion projects. Taking a cooperative role in the creation and financing of new public facilities, AIDA was instrumental in the establishment of Falcon Park, home of the Auburn Doubledays, the Auburn Memorial Hospital nursing home and the former Central High for medical office space.
AIDA is supported by the professional staff of the Office of Planning & Economic Development (OPED). To learn more about AIDA and its current projects, please contact the OPED staff at 315-255-4115.