What is an IDA?
IDAs were authorized in 1969 in New York State GML-Article 18-a, and have been established for every county outside of New York City, with two counties sharing one IDA - for a total of 56 county IDAs. There are also 26 city IDAs, including the New York City IDA, 27 town IDAs, 4 village IDAs, and one IDA that was jointly established for a city and a town. Currently, there are a total of 114 IDAs in New York State.
IDAs are often the lead economic development entity for the county, city or town in which they operate. IDAs serve as a conduit between the public and private sectors in influencing and encouraging the much needed capital investment that results in job creation and retention.