Little Falls New York
Why you should invest here
Little Falls, with its New York State Thruway exit, puts businesses within a half day’s drive of more than half the U.S. and Canadian populations.
- The Herkimer County Industrial Development Agency delivers economic incentives to businesses and industries to diversify and strengthen Herkimer County’s tax base and enhance community vitality by supporting job creation, business and industrial development, and community revitalization.
- The Herkimer County Chamber of Commerce is a not-for-profit membership organization. The Chamber’s mission is to foster a positive business environment for private and public entities operating in the County and to assure the successful continuation of and growth of current and new business in our region.
- Check out New York’s Small Business Resource Center to see a definitive list of state services.
- Learn how Empire State Development helps businesses grow.
- Both the Albany International and Syracuse Hancock InternationalAirports add to Little Falls’ stellar transportation advantages that are anchored by easy access to the New York State Thruway.
- The Albany Small Business Development Center has worked directly with 25,059 businesses, helping them to invest $450,479,965 in the area’s economy, and create or save 12,736 jobs.
- The New York Business Development Corp in nearby Albany assists promotes and advances the business prosperity and economic welfare of the State of New York by providing loans to small businesses, including start-up, early stage, and mature businesses, with a particular emphasis on minority and women-owned businesses. They often include multiple participations, SBA guarantees, flexible amortization, and long-term payouts.
Invest in Little Falls
Little Falls has numerous investment opportunities for its iconic main street, including the purchase and restoration of mixed-use property in the downtown area to increase live/work opportunities, dining, entertainment, and retail spaces.
Visionaries see the opportunity to leverage the waterfront’s natural beauty as a placemaking opportunity with year-round public spaces to appreciate art, music, theater, dining, museums, real estate, and business developments.
Riverside Industrial Parkway has great investment potential for additional manufacturing space or consolidating warehousing through a low-cost acquisition for redevelopment or ground-up development.
There are multiple neighborhoods within the Opportunity Zone with affordable properties ready for single or multi-residential development, all within walking distance to parks, schools, the downtown, and waterfront districts.
Opportunity Zones are specific census tracts (roughly 20% of each state) nominated by the Governor of each state that qualify for investment in business or property through Qualified Opportunity Funds.
- Population: 2,125
- Total Businesses: 124
- Total Jobs: 1,694
- County: Herkimer
- State: NY
On December 22, 2017, a new tax incentive program was enacted to unlock 6 trillion dollars in unrealized capital gains and promote investments in specific economically distressed communities known as Opportunity Zones.
If you have invested in stocks, real estate, or other assets that have appreciated in value, historically, you cannot sell those assets without paying huge taxes. Now, by investing in a qualified opportunity fund, you can sell your appreciated asset and temporarily defer your original capital gain until 2026. You’ll also be able to reduce your capital gains expense and have the ability to permanently exclude capital gains from the appreciation yielded from your investment into the qualified opportunity fund.
Little Falls Opportunity Zone Map
Value to Investors
Investors can defer tax on any prior gains invested in a Qualified Opportunity Fund until the investment is sold or December 31, 2026 – whichever event comes first.
The tax obligation on capital gain that has been moved into a Qualified Opportunity Fund will be reduced. If the investment is held for 5 years it will see a 10% reduction, and at 7 years the reduction on the tax obligation of that initial investment will be 15%.
If the investment in the Qualified Opportunity Fund is held for at least 10 years, all accrued gains from the fund are exempt from taxation.
Invest in Little Falls
Plan your visit today!
Whether you’re planning a visit to invest or thinking of relocating, we have an abundance of resources to welcome you to Little Falls and make your visit a memorable one. Just drop us a note with your plans, and we’ll get busy. In the meantime, take a moment to sign up for our free monthly newsletter. It’s a great way to stay in touch with all the events and activities happening in Little Falls.