The Benefits of Locating Within an Industrial
At the core of the Administration’s industrial policy is the creation and
support of the City’s Industrial Business Zones (IBZs). These
geographic areas were built largely upon the preexisting In-Place Industrial
Parks to better reflect industrial land uses within the City. There are sixteen
IBZs. Details on the public process employed to create the IBZs are here.
The IBZs represent areas in which the City provides expanded assistance
services to industrial firms in partnership with local development groups.
In addition, IBZs reflect a commitment by the City not to support the re-zoning
of industrial land for residential use within these areas. More detailed
zone-specific information is available by clicking on the appropriate area in
the citywide map.
The primary benefits of locating within an IBZ are described in detail
Industrial Business Solutions Providers and Services
Industrial Business Solutions Providers will offer industrial firms free,
quick and reliable answers to a broad range of business questions including
accessing appropriate financial and business assistance programs, navigating and
complying with regulatory requirements, developing workforces and ensuring the
neighborhood is well maintained. To find the IBSP serving your industrial area,
click on the appropriate area in the citywide map.
To see the complete list of all Industrial Business Solutions Providers,
please click here.
Creating Real Estate Certainty
In the IBZs, the Bloomberg Administration has guaranteed not to support the
rezoning of industrial property for residential use. This will alleviate real
estate uncertainty. In addition, the City is strengthening zoning enforcement
through increased monitoring and inspection of illegally converted buildings. It
is also pursuing greater financial penalties for illegal conversions and issuing
appropriate violations and rescinding permits for illegal activity at
construction sites. All reports of illegally converted buildings should be
directed through 311.
The Tax Credit
A one-time tax credit of $1,000 per relocated employee is available to help
industrial and manufacturing firms that relocate to one of the City’s sixteen
IBZs. Only firms that moved into an IBZ after July 1, 2005 are
eligible. The tax credit is to be applied against the firm’s City tax
liability and cannot exceed the lesser of actual relocation costs or
$100,000. Click here for additional
Firms can claim the tax credit on either their General Corporation Tax (GCT)
or Unincorporated Business Tax (UBT). The following hyperlinks are for the
2007 tax year: GCT filers can find the IBZ tax credit in Form
9.6. UBT filers can find the IBZ tax credit in Form 114.6.
Some IBZs include adjacent Industrial Ombudsman Areas which include a greater
mix of uses. Business assistance services are provided in both types of
areas. However, Ombudsman Areas do not receive the tax credits nor are
they subject to the same commitments on rezoning.