Our Mission

To promote, develop, encourage and assist in acquiring, construction, improving, maintaining or equipping certain facilities thereby advancing the job opportunities, health, public safety, recreational opportunities, general prosperity and economic welfare of the people of the City of Cohoes. This can be accomplished by supporting the goals and plans of the City of Cohoes which include growth of the City through innovative programs and increased tourism and trade

IDA Performance Goals

  • To meet all legal requirements of the Agency.

  • To review project employment goals and the
       achievement of those goals.

  • To make decisions consistent with the Agency’s mission statement.

  • To make decisions that will promote and ensure the
      prosperity of the residents of the City of Cohoes.

  • To support the City of Cohoes by investing in projects that will create opportunities for the continued growth of the City.

The Cohoes Industrial Development Agency is appointed by the mayor and common council. Seven non-compensated members are elected to the board. The agency is able to provide Payments in Lieu of Taxes (PILOTS), bonding assistance, and sales and use tax exemption for new construction and business.

The Cohoes IDA helps to provide industrial revenue bonds to larger, financially strong, industrial, manufacturing, agribusiness, corporate offices and research and development projects that are best suited for this form of financing. An alternative to industrial revenue bonds would be a Sale/Lease Back Transaction ideally suited for real estate/facility projects.

Industrial facilities constructed and/or reconstructed with the use of Industrial Revenue Bonds or Sale/Lease Back Transactions through the CIDA are eligible for real property tax exemptions. The agency holds title to the project and Payments in Lieu of Taxes (PILOTS) are negotiated between the agency and the company that abates a portion of the real property tax.