Otsego Now Helping Businesses Grow with Tax Incentives, Grants

By MONICA CALZOLARI
OTSEGO COUNTY

Otsego County is home to more than 1,200 businesses. Expanding and growing these businesses and attracting new businesses to the county is the mission of Otsego Now.

Otsego Now is an umbrella organization that includes three economic development entities: the County of Otsego Industrial Development Agency, the Otsego County Capital Resource Corporation and the Oneonta Railyard Local Development Corporation.

Otsego Now was formed 10 years ago, in 2014. Jody Zakrevsky has been its chief executive officer since 2017.

COIDA is Otsego Now’s most active entity and has existed since 1973. COIDA helps for-profit entities with business expansion grants, business park development grants and tax abatements.

OCCRC, formed in 2008, helps not-for-profit entities. It has assisted Hartwick College, Springbrook and Bassett Healthcare Network with large tax-exempt bond issues in the past.

COIDA is focused on both large industrial and small retail businesses. It has worked with manufacturers including Corning Life Sciences, Custom Electronics, Systematic Power Manufacturing (Ioxus), Andela Products, and Advanced Biotech Inc.

Advanced Biotech of New Jersey invested $14 million to expand operations in Otsego County.

Zakrevsky said, “For our small- to medium-sized businesses, grant assistance is very important. For our larger employers, payment-in-lieu-of-tax assistance (PILOTs) and sales tax exemption are important.”

PILOT agreements are the main way that Otsego Now generates revenue.

“Last year, we had a record year with payment-in-lieu-of-tax-agreements which increased our revenues by $240,000.00, bringing our fund balance to over $1.5 million,” Zakrevsky said.

Meaghan Remillard, Otsego Now director of finance and administration, said, “City of Oneonta businesses are lucky. They have two opportunities to apply for micro-enterprise grants.”

Both Otsego County and the City of Oneonta award micro-enterprise grants. Otsego Now administers the microenterprise program on behalf of the county.

Remillard has successfully run two county-wide micro-enterprise grant programs. Otsego Now provided $283,000.00 in grants to small businesses through the Community Development Block Grant. Each business can receive up to $35,000.00.

Zakrevsky summarizes the agency’s achievements, saying, “This year, we are proud to say that our Richfield Springs Eco-Industrial Park is finally beginning construction. Ango Construction was hired to extend water and sewer lines to this park and build a new entranceway into the park. Permits have been obtained from the New York State Department of Environmental Conservation, the New York State Department of Transportation and the county’s Code Enforcement Office. The federal Economic Development Agency has issued a notice to commence construction,” Zakrevsky said.

Cooperstown Projects

In the Village of Cooperstown, Otsego Now has assisted with financing for the Cooperstown Distillery expansion, as well as payment-in-lieu-of tax agreements and sales tax exemption for Chestnut Crossing, a 13-unit new construction multi-family housing facility just off Main Street.

Otsego Now is currently working with Vecino Group New York LLC on plans to build a 50-unit, three-story affordable housing development, also in Cooperstown.

Oneonta Projects

The “Ford on Main” Springbrook project in downtown Oneonta, valued at $6.6 million, had its grand opening in May 2024. The fully modernized building brings 24 affordable, market-rate apartments to the city center. “Ford on Main” serves as integrated housing for working professionals and supports those with developmental disabilities.

“We are in the process of building a new business park at the Oneonta Railyards,” Zakrevsky said. “Oneonta is served by NYSEG for natural gas through their DeRuyter line running from Norwich to Oneonta. That line is at capacity. Studying the feasibility of a heat pump system could allow new businesses to have an alternative to using natural gas.”

Otsego Now accomplishes all of this with only two full-time employees and one part-time staff member. The agency is currently short-staffed and is hiring.

“We would not be as successful without the support of the Otsego County Board of Representatives and the county administrator, [or without] such great leadership on our own Board of Directors,” Zakrevsky said.

For more information on Otsego Now, or to learn about its programs, visit otsegonow.com.