Who we are
The Cheektowaga Economic Development Corporation (CEDC) is a quasi-public local development corporation and 501 (c) 3 not-for profit agency. It is comprised of area business & community leaders and carries out economic development with funding from the federal Community Development Block Grant Program.
Our Mission
The mission of the Cheektowaga Economic Development Corporation (CEDC) is to foster and promote economic development and the creation and preservation of employment opportunities within the Town of Cheektowaga (Town). The CEDC seeks to ensure the long-term viability of the Town by strengthening and expanding the Town’s tax base, offering low-interest loans to eligible businesses in the Town, providing economic opportunity for all persons and improving the quality of life for residents in the Town.
How It Works
The CEDC provides assistance in the form of secured loans. This assistance must directly result in the creation of job opportunities, at least 51% of which, on a full-time equivalent basis, are to be made available to low/moderate income persons.
Loans Provided For
- Acquisition of fixed assets such as equipment, machinery, real estate and other fixed assets
- Current Assets including inventory, receivables, & working capital
Eligibility Requirements
Principal business activity to be impacted must be located within the Town of Cheektowaga
See our Business Loan Program for a list of requirements and program standards.
Program Standards
- Employment Cost Ratio: Program financing may NOT exceed $35,000 for each new job created
- Financing amount must be sufficient to make a project feasible
- Min Amount: $10,000
- Max Amount: None*
*Based on availability of funds