The Industrial Development Agency contracts with the Economic Development Corporation in accordance with New York State legislation (General Municipal Law (GMU) Article 18A Title 2 Section 917) to carry out the financial end of its programs. The IDA is empowered to issue tax-exempt bonds, authorize certain tax exemptions, and make other financial inducements. It is also charged with monitoring the financial packages it gives out. A description of many of IDA's programs can be found on the IDA website.

The IDA board meets once a month to review and approve proposed deals. According to legal requirements, the IDA must issue a public announcement 30 days in advance of a public hearing on each item it is considering. The hearings generally take place on the second Thursday of the month. The board meetings at which votes are taken on proposals are generally the following Tuesday. (This represents a change in policy - previously, public hearings took place on the Monday before the Tuesday board meetings.) A schedule of upcoming public hearings and board meetings, along with public hearing information, can also be found on the IDA website.

Go to EDC/IDA Structure and Board Page