Hamburg New York Development Corp

The Hamburg New York Development Corp, also known as the Hamburg Development Corporation (HDC), is a nonprofit organization located in Hamburg, New York. Its primary mission is to stimulate reinvestment in the residential, commercial, and industrial areas within the town, enhancing the quality of life and promoting planned business growth.

Purpose and Goals

The HDC works collaboratively with other entities such as the Hamburg Industrial Development Agency (HIDA) to provide financial incentives and support for projects that significantly contribute to the local economy. These efforts focus on creating or retaining jobs, expanding the tax base, and fostering community development.

Programs and Incentives

The organization offers several programs designed to aid growth-oriented businesses:

• Hamburg Business Development Fund (HBDF): This fund provides flexible financial assistance to industrial and commercial firms, helping bridge gaps in conventional financing. Financing options include lower interest rates and longer repayment schedules, contributing to job creation and economic stability.

• Community Development Block Grant (CDBG) Program: The HDC utilizes funding from the CDBG to support growth-oriented firms, offering competitive loan terms such as flexible repayment schedules and favorable interest rates.

• Commercial Building Renovation Program: Encourages the renovation and improvement of commercial properties through targeted loans for facade improvements, property upgrades, and other revitalization efforts.

Impact

The Hamburg Development Corporation has assisted various companies in expanding operations, increasing employment opportunities, and enhancing economic activity in Hamburg. This includes supporting a frozen food manufacturer’s relocation, aiding a printing company in purchasing and renovating a facility, and helping an auditing and accounting service expand in the area.

The organization’s efforts contribute to maintaining Hamburg as a thriving business community with a skilled workforce, making it an attractive location for investment and growth.

[1] https://www.townofhamburgny.gov/341/Hamburg-Development-Corporation [2] https://www.hamburgida.com [3] http://www.hamburgida.com [4] https://www.townofhamburgny.gov/362/Hamburg-Development-Corporation-Board [5] https://www.guidestar.org/profile/16-1307889