New York City Business Solutions


	If you are relocating within or to New York City, you may be eligible for some of the following programs: Business Incentive Rate (BIR) Commercial Expansion Program (CEP) Empire Zone Benefits Empowerment Zone Benefits Energy Cost Savings Program (ECSP) Greenpoint-Williamsburg Relocation Grant Program IDA Commercial Tax Incentive for Relocation Industrial Business Zone Credit (IBZ) Lower Manhattan Programs New York State Energy Research and Development Authority Relocation and Employment Assistance Program Sales Tax Exemption for Manufacturers Business Incentive Rate (BIR) *What it is:* Additional reduction on regulated electric costs by 30%-35% for a term of five years *When to apply:* Within 30 days of receiving a matching benefit *Who is eligible:* Businesses that take space in previously vacant commercial or industrial buildings, move into newly constructed buildings, or meet other economic development criteria *Which agency:* Administered jointly by EDC and Con Edison Apply here! Commercial Expansion Program (CEP) *What it is:* Rent abatement up to $2.50 per square foot *When to apply:* Within 180 days of lease commencement *Who is eligible:* Commercial, industrial and manufacturing businesses. Retail businesses are ineligible *Which agency:* NYC Department of Finance (DOF) Apply here! Empire Zone Benefits *What it is:* A variety of tax incentives for certified businesses relocating or expanding within the zone *When to apply:* Apply for "Certification" through Zone Coordinator *Who is eligible:* New and expanding retail, commercial and industrial businesses in zone *Which agency:* NYC Department of Small Business Services (SBS) *Apply here:* All applications must be made through local Zone Administrative Offices. Click here to locate the office nearest you Empowerment Zone Benefits What it is: Package of tax credits, accelerated depreciation, wage tax credit and various loan and work opportunity programs for businesses located within the zone When to apply: Generally within tax year Who is eligible: Retail, commercial and industrial businesses located in zone Which agency: Upper Manhattan Empowerment Zone (UMEZ) or Bronx Overall Economic Development Corporation (BOEDC) For additional information: If you are located in Upper Manhattan, please contact the Upper Manhattan Empowerment Zone Office If you are located in the Bronx, please contact Bronx Overall Economic Development Corporation Energy Cost Savings Program (ECSP) *What it is:* Up to 45% or 35% savings on regulated electric and natural gas costs respectively *When to apply:* If relocating:prior to signing lease/contract of sale; or within 120 days of moving into a Special Eligible Premises If renovating: generally prior to issuance of building permit *Who is eligible:* Industrial/manufacturing businesses, excluding retail and hotels *Which agency:* NYC Dept. of Small Business Services (SBS) *Apply* *here!* *Related Programs:* BIR, Sales Tax Exemption for Manufacturers, Green Building Tax Credit Access NYSERDA for a broader portfolio of benefits Greenpoint-Williamsburg Relocation Grant Program *What it is:* This program is to assist eligible businesses that were impacted by the recent rezoning in Community Board 1 in Brooklyn to offset relocation costs *When to apply:* First come, first served basis and depending on available funding *Who is eligible:* Industrial/manufacturing businesses that are involved in the manufacturing or fabrication of a product for sale. Please call (212) 513-6345 to prescreen eligibility *Which agency:* Mayor's Office of Industrial and Manufacturing Businesses Apply here! IDA Commercial Tax Incentive for Relocation *What it is:* Discretionary benefits for relocating corporate headquarters to NYC When to apply: Contact New York City Economic Development Corporation (NYCEDC) staff to determine filing schedule *Who is eligible:* Commercial businesses *Which agency:* New York City Industrial Development Agency (IDA) Apply here! Industrial Business Zone Credit (IBZ) *What it is:* Relocation tax credit of $1,000 per employee up to $100,000 *When to apply:* Generally within tax year of relocation *Who is eligible:* Industrial/manufacturing businesses relocating to an IBZ *Which agency:* NYC Dept. of Small Business Services (SBS) *Apply here:* GCT Form, UBT Form, Additional Information Lower Manhattan Commercial Revitalization Program (CRP) and Commercial Rent Tax (CRT) Reduction *What it is:* Offers a rent abatement up to $2.50 per square foot of leased space plus reduction of commercial rent tax *When to apply:* Within 180 days of lease commencement *Who is eligible:* Commercial office tenants or retail businesses *Which agency:* NYC Department of Finance (DOF) Apply here! Lower Manhattan Energy Program (LMEP) *What it is:* Up to 45% reduction on regulated electric costs for tenants and common space in qualified buildings within Lower Manhattan *When to apply:* The building applies prior to issuance of building permit for renovation *Who is eligible:* Commercial office tenants (non-retail) or qualified property owners Click here to see which buildings already receive LMEP benefits *Which agency:* NYC Dept. of Small Business Services (SBS) *For pre-screening:* Call 311 and ask for Dept. of Small Business Services, Business Incentives Unit to pre-screen for eligibility Lower Manhattan Relocation Employment Assistance (LMREAP) *What it is:* Relocation tax credit up to $3,000 per job for 12 years for eligible businesses that relocate from outside NYC (LMREAP-EB) and eligible businesses that relocate from within NYC (LMREAP-SEB ) *When to apply:* Annually for 12 years *Which agency:* NYC Department of Finance (DOF) *Apply here:* LMREAP-EB or LMREAP-SEB Lower Manhattan WTC Rent Reduction Program *What it is:* Provides: 1) $5 psf rent reduction for eligible tenants leasing the first 750,000 sf of commercial space at the Freedom Tower and other WTC sites; and 2) $3.80 psf reduction for eligible tenants leasing the first 750,000 sf of commercial space at 7 World Trade Center has been fully funded *When to apply:* Within three months of executing qualifying lease *Which agency:* Empire State Development Corporation (ESDC) *Apply here:* Guidelines and Application New York State Energy Research and Development Authority (NYSERDA) *What it is:* Public benefit corporation focused on research and development, allocating funds towards energy efficiency programs *When to apply:* Generally, prior to initiating project *Who is eligible:* Must meet eligibility criteria for each program *Which agency:* New York State Energy Research and Development Authority (NYSERDA) *Programs:* Enhanced Commercial/Industrial Performance Program, Technical Assistance Program, New York Energy Smart Loan Program, Solar Electric Incentive Program Access NYSERDA for a broader portfolio of benefits Relocation And Employment Assistance Program (REAP) *What it is:* Relocation tax credit up to $3,000 per qualified employee for 12 years *When to apply:* Annual filing during tax year credit(s) is earned *Who is eligible:* Industrial and commercial businesses, excluding retail and hotels moving into targeted areas of the city *Which agency:* NYC Department of Finance (DOF) Apply here! Sales Tax Exemption for Manufacturers *What it is:* Tax credit on NYC and NYS sale taxes paid on energy used in production *When to apply:* During year energy used and retroactive for three years, must have a valid Certificate of Authority (DTF-17) and required to file form ST-121. To reclaim exemptions on sales taxes paid for three years use form AU-11 *Who is eligible:* Manufacturing businesses *Which agency:* New York State Department of Taxation and Finance Apply here: DTF-17 Instructions, DTF-17 Form, ST-121 Form, and AU-11 Form

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