The first call to make when you’re targeting Poughkeepsie as the place to expand, start, or relocate your business is the City of Poughkeepsie’s Economic Development Division. Our staff is dedicated to helping investors and businesses succeed, and can provide all the help and the answers you’ll need in one centralized location. By encouraging public and private partnerships, the City of Poughkeepsie has become an active and vital business community.
Economic Development Incentives
The City of Poughkeepsie offers many winning opportunities for new businesses and private investors, such as:
- The ability to purchase or rent space at considerably below prevailing metropolitan rates
- Attractive loan packages
- Economic Development Zone tax incentives
The availability, amount and terms of assistance are subject to negotiation and the nature of the development proposed, including the number of new jobs to be created and a commitment to hiring City residents for those jobs.
Economic Development Initiatives
Cottage Street Enterprise District (CSED): a 100 acre neighborhood on the north side of The City of Poughkeepsie, is being marketed to a blend of industrious entrepreneurs – artisans, creative services, and small shop production facilities. In a break from the old industrial model the CSED will be cleaner, quieter, and more creative. The City envisions the CSED as a place where newer technologies are at home alongside creative artisans and an existing industrial base – where like minded companies can build on synergies that benefit themselves and the surrounding community.
Loan Funds
Economic Development Loan Fund (EDLF): The EDLF offers low-interest rate loans to new and expanding businesses in the City of Poughkeepsie. The main objective of this loan fund is to encourage business growth and create and/or retain jobs for low and moderate-income City residents. Under present terms, subject to adequate credit history, owner equity, collateral and financials of business and principals, a maximum of $50,000 is available at prime or below prime interest rate with repayment options up to 15 years. Loan funds may be used for partial remodeling or fit-up costs, leasehold improvements, machinery and equipment and inventory (start-up businesses only). The EDLF is funded through the Community Development Block Grant and is subject to availability.
Office Location
City Hall – 2nd Floor
Monday through Friday
8:30 am to 4:30 pm
(845) 451-4007
