New York City Incentives
Is your business relocating?
If you are relocating within or to New York City, you may be eligible for some of the following programs: http://www.nyc.gov/html/sbs/nycbiz/html/incentives/relocation_new.shtml
Is your business buying or improving property?
If you are constructing a new building or renovating an existing building, you may be eligible for the following programs. http://www.nyc.gov/html/sbs/nycbiz/html/incentives/purchasing_new.shtml
Are you investing in new equipment?
Click here if you are buying new machinery and equipment or upgrading your back office or industrial operations. http://www.nyc.gov/html/sbs/nycbiz/html/incentives/equipment_new.shtml
Are you are hiring new employees, or training new or existing employees?
http://www.nyc.gov/html/sbs/nycbiz/html/incentives/hiring_new.shtml
Review all NYC small business incentive programs, on a single flyer.
http://www.nyc.gov/html/sbs/nycbiz/downloads/pdf/business_incentives_pamphlet.pdf
Need assistance in navigating NYC incentives and programs?
Contact Debbie Mesloh, our IBZ Manager, at 718.786.5300 x 32 or dmesloh@licbdc.org
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NYC Business Solutions
http://www.nyc.gov/html/sbs/nycbiz/html/home/home.shtml
NYC Economic Development Corporation
http://www.nycedc.com/Web
Selected City Programs
Industrial & Commercial Incentive Program (ICIP)
All businesses can apply, prior to building permit or renovation, for property tax abatement and/or exemption for those property improvements.
http://www.nyc.gov/html/dof/html/property/property_tax_reduc_incentive.shtml
Relocation & Employment Assistance Program (REAP)
REAP provides a tax credit for businesses that relocate from outside of New York City or from Manhattan below 96th Street to designated areas.
http://www.nycedc.com/Web/FinancingIncentives/TaxExemptions/RelocEmployAssistProg/REAP.htm
http://www.nyc.gov/html/dof/html/property/property_tax_reduc_reap.shtml
Commercial Expansion Program (CEP)
Provides real estate tax abatement up to $2.50 per square foot, plus a commercial rent tax exemption, for new, renewal, or expansion leases for commercial office or industrial space in designated areas.
http://www.nyc.gov/html/dof/html/property/property_tax_reduc_expansion.shtml
Financing: tax-exempt bonds, tax reductions and other incentive programs
http://www.nycedc.com/Web/FinancingIncentives/Financing/Financing.htm
Energy Cost Savings Program
Manufacturing and commercial businesses, excluding retail business and hotels, can get up to 45% or 35% savings on regulated electric and natural gas costs respectively.
http://www.nyc.gov/html/sbs/html/ecsp.html
Other NYC energy programs
Business Incentive Rate, the Energy Cost Savings Program, Con Ed and Keyspan programs, and tax benefits for industrial firms. http://www.nycedc.com/Web/FinancingIncentives/EnergySavings/EnergySavings.htm
