Job Development Authority NY

The New York Job Development Authority (JDA) was established in 1961 as a public benefit corporation to foster economic growth within New York State. Its primary mission is to promote, encourage, and develop the general prosperity and economic welfare of the people of the state by creating and retaining jobs. JDA achieves this by providing low-cost financing to businesses and non-profits through various programs, including direct loans and loan guarantees, often in partnership with commercial banks and other lenders to support projects that might not otherwise secure conventional financing. It operates under the umbrella of Empire State Development (ESD), New York's chief economic development agency.