Economic development in the knowledge economy is a community-wide effort focused on people, innovation, networks and linking community assets. The Town of Amherst Industrial Development Agency (AIDA) embraces these principals in accordance with the Town of Amherst Master Plan and County-wide Eligibility Policy to determine who, what, how and where businesses can grow.
Success in attracting new and retaining existing firms includes leveraging our resource partners. The AIDA is integrated with educational institutions such as SUNY Buffalo, financial institutions, trade associations, and a business-savvy local government.
This approach results in success, with over $2.5 billion by over 400 AIDA sponsored projects occurring over the last several decades.
The AIDA is party to Erie County's Countywide Eligibility Policy. All Industrial Development Agencies in New York State are required to adopt and keep current a Uniform Tax Exemption Policy (UTEP). The UTEP sets forth eligible firms based on their North American Industrial Classification System (NAICS) number primarily focusing on target industries (Back-Office, Advanced Manufacturing, and Life Sciences) and companies that export products and services. The UTEP also accounts for projects that take place in redevelopment areas and provides exceptions where retail or local service businesses may be eligible.