Industrial Business Zone Relocation Credit

Top

About

Small Business Services, Department of City
The Industrial Business Zone (IBZ) Relocation Tax Credit is a one-time tax credit of $1,000 per relocated employee available to industrial and manufacturing firms relocating to one of the City’s sixteen IBZs from outside of an IBZ. Firms relocating within an IBZ are also eligible. Businesses that are receiving benefits under the Relocation Employment Assistance Program (REAP) are not eligible for IBZ Relocation Tax Credits.

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
The tax credit is applied against the firm’s City tax liability and cannot exceed the lesser of actual relocation costs or $100,000. There is no application for this program; firms can claim the tax credit on their General Corporation Tax (GCT) or Unincorporated Business Tax (UBT) during the tax year of the move. GCT filers can find the IBZ tax credit in Form 9.6 and UBT filers can find the IBZ tax credit in Form 114.6 (links to these forms are available below).
Next: Apply

NYC Department of Small Business Services (SBS)

110 William Street
New York, NY 10038

For further assistance, please call 311 and ask for: Industrial Business Zone Relocation Tax Credit

Website: http://www.nyc.gov/html/sbs/nycbiz/html/contact/industrial_contact.shtml


Learn which permits, licenses and regulations matter to you

Use the Requirements Questionnaire to get a customized list of requirements for starting or operating your business in New York City.