Alexander Community Center

275 Alexander Avenue

Cheektowaga, New York 14211

(716) 897-7200

www.CheektowagaDevelopment.com

 

  

CEDC

 Cheektowaga Economic Development Corporation

 

 

 

Cheektowaga Economic Development Corporation

The Purpose of the Cheektowaga Economic Development Corporation (CEDC)

  • To facilitate the expansion and retention of business in the Town of Cheektowaga
  • To create employment opportunities
  • To expand the Town of Cheektowaga’s commercial tax base
  • To increase property and sales tax revenues for the town

How the CEDC Operates

The CEDC provides assistance in the form of secured loans.

The CEDC meets regularly to review requests for assistance and review the status of existing loans.

About the CEDC

  • The CEDC was formed on June 10, 1983.
  • The CEDC is a quasi-public local development corporation.
  • The CEDC is a Not-For-Profit 501 (C) (3) Agency comprised of area business and community leaders.
  • The CEDC carries out economic development with funding from the federal Community Block Grant Program.

Use of Funds

Loans could be provided for:  

  • Acquisition of fixed assets such as equipment, machinery, buildings and other fixed assets
  • Current assets including inventory and receivables
  • Permanent working capital
  • Refinancing of existing debt resulting in the creation of new jobs
  • Training

Eligibility Requirements

  • Principal business activity to be impacted must be located within the Town of Cheektowaga

  • Business activity must involve one of the following:

  • Manufacturing

  •  Warehousing

  •  Wholesale Distribution

  • Certain Retail or Service Trades

  • Assistance must directly result in the creation of job opportunities  

Program Standards

  • Employment Cost Ratio – The amount of the program financing may nor exceed $35,000 for each new job
  • Program Financing Amount – Sufficient to make a project feasible
  • Maximum Amount – No established amount; funding may be determined based on availability of funds
  • Minimum Amount - $10,000

Statements and Required Reports - PDF format

   

 

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