The Hamburg Business Development Fund (HBDF) has been established to provide an alternate source of flexible financial assistance to growth oriented industrial and commercial firms in the Town and Village of Hamburg and the Village of Blasdell.
The HBDF is administered by the Hamburg New York Development Corporation (HDC) a not-for-profit local development corporation designed to stimulate reinvestment in the residential, commercial and industrial areas situated in the corporation’s geographic boundaries. The HDC serves as a vehicle for controlled community development through a partnership of residents, members of the business community, representatives of local government and financial institutions, and other interested persons.
The fundamental purpose of the HBDF is to: encourage capital formation in the corporation’s geographic area by stimulating and facilitating private sector investment decisions, relieve fiscal distress by expanding the tax base, create jobs for residents and otherwise promote economic development.
In order to encourage job creating business expansion projects, the HBDF can help bridge the gap in the conventional financial marketplace which may be impeding the growth of otherwise financially sound, employment generating companies.
