Sound Investment Program
If you’re looking for a great location for your next store or restaurant, you’ve come to the right place. Explore below to learn more about our plan, the opportunities, and upcoming events and activities.
Downtown Gateway II Study
A year-long, comprehensive market study has been completed and the findings are conclusive: Glen Cove has charted a course for Sound economic growth. Click the links below to read the full story
Investment Opportunities
If you’re looking to acquire commercial property, or a location for a new store or restaurant, we have plenty to offer. Follow the links below to learn about our available properties, incentives and more.
News & Events
We pride ourselves on creating events that attract consumers from across the region to our waterfront, parks and downtown. To see our schedule of upcoming events, or to read about all the great things happening in Glen Cove, follow the links below.
- News of Interest/Schedule of Events
Economic Development Incentives and Resources
Main Street Capital Program, a new $10 million fund that will provide qualifying start-up and early-stage companies with access to affordable term loans up to $100,000. Part of New York’s broader State Small Business Credit Initiative efforts led by Empire State Development, this program will help bridge the financing gap experienced by many entrepreneurs as they launch and grow their businesses. This program offers minimal payments for the first 12 months of the loan to give businesses more flexibility as they launch and grow. Loans will be up to six years with a fixed interest rate of 9.9%. In the first year, borrowers will pay less-than-interest-only, with no principal payments during that time. Click here to learn more about the program launch. Startups and early-stage businesses must complete a pre-application questionnaire. Based on their responses, they will be invited to complete a full application for the program, or they may be connected with their local Entrepreneurial Assistance Center (EAC) or Small Business Development Center (SBDC) for additional support. For more information on the fund, eligibility, and requirements, please visit the program’s webpage.
MERF PROGRAM– The Metropolitan Economic Revitalization Fund (MERF) provides loans to businesses or governments investing in projects that retain or create a significant number of private-sector jobs in economically distressed areas that are within the geographic area known as the New York portion of the service area of the Port Authority of NY and NJ, including NYC, parts of Nassau, Westchester and Rockland counties. The City of Glen Cove is eligible for this program. Small business owners located in the Glen Cove Downtown Business District may be eligible for a low interest loan to improve land, buildings, construction and renovation and for machinery and equipment purchases. Click on the link above more information.
JDA DIRECT LOAN PROGRAM–The Job Development Authority Direct Loan Program provides Direct Loans for the growth of manufacturing and other eligible businesses within New York State by assisting in financing a portion of the cost of acquiring and renovating existing buildings or constructing new buildings or for purchasing machines and equipment. Funds to make loans are derived from the sale of State-guaranteed bonds. Click on the link above for further info.
Grow America (formerly NDC) helps small businesses secure loans to create jobs and build wealth in under served communities throughout the country with a special emphasis in New York through the Grow America Fund. Click on the link above for further information.
National Grid and PSEG Long Island Revitalization Grant Programs for businesses:
