Businesses that are receiving benefits under the Relocation Employment Assistance Program (REAP) are not eligible for IBZ Relocation Tax Credits.
Additional program eligibility requirements are as follows:
- Only firms that relocated after July 1, 2005 are eligible.
- Firms may purchase or lease the move-in site, and the eligible premise must be located entirely within an IBZ.
- Eligible businesses must have been conducting substantial business operations continuously during the past 24 months immediately preceding the relocation.
- Firms and their affiliates cannot own the move-out location.
- Firms providing utilities and waste management services are not eligible.
Designated Industrial Business Zones include (see Links to Additional Information below for maps of each zone):
- Brooklyn: Brooklyn Navy Yard, East New York, Flatlands-Fairfield, Greenpoint-Williamsburg, North Brooklyn, Southwest Brooklyn
- Bronx: Bathgate, Eastchester, Hunts Point, Port Morris, Zerega
- Queens: Jamaica, JFK Industrial Corridor, Long Island City, Maspeth, Steinway
110 William Street
New York, NY 10038
For further assistance, please call 311 and ask for: Industrial Business Zone Relocation Tax Credit
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