The Lower Manhattan Relocation and Employment Assistance Program for Eligible Businesses (LMREAP-EB) offers business income tax credits for businesses relocating to lower Manhattan.
The eligible business must move at least one employee from outside the LMREAP-EB area to a qualified location.
Qualified Locations in Lower Manhattan - View Map
The LMREAP-EB area lies south of a line running from the intersection of the Hudson River with the Holland Tunnel; running north along West Street to the intersection of Clarkson Street; running east to the intersection of Washington Street; running south along the centerline of Washington Street to the intersection of West Houston Street; and east along the centerline of West Houston Street, then at the intersection of the Avenue of the Americas the line continues east along the centerline of East Houston Street to the easterly bank of the East River.
Eligible businesses receive an annual credit of $3,000 for twelve years per eligible employee, or per eligible aggregate employment share (EAES), for relocating to a designated location. The number of EAESs is roughly the same as the number of full-time employees working at the eligible location. There are some limitations.
The credit may be taken against the following:
Credits are refundable for the year of relocation and the next four years. Unused credits from subsequent years may be carried forward for five years.
Most retail activities and hotel services do not qualify. However, internet sales and sales by mail or telephone may qualify.
LMREAP-SEB (Special Eligible Businesses) may be available to businesses not qualifying for LMREAP-EB because they had employees in Manhattan before the relocation.
Applicants must submit a completed LMREAP application and all required supporting documentation. Annual certifications are required to determine the amount of LMREAP benefit for each of the twelve years. An application for certificate of eligibility of designated premises (REAP-ADD) must be filed for additional or replacement premises.
The application deadline was extended to June 30, 2025. Please file for annual re-certification for each eligible year.
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