**Businesses can apply for or use these programs from their home country, even before they make the move to the United States.**
NYCIDA helps eligible companies grow their business and create good jobs by providing financial incentives for locating or retaining their operations in New York City. NYCIDA can help your business: Qualify up to 100% land tax abatements for up to 25 years; Waive mortgage recording tax on the actual mortgage; Stabilize building taxes at pre-improvement, taxable values for up to 25 years; Exempt materials used to develop, renovate, or equip facilities from sales tax.
The Industrial Developer Fund is a $150 million fund that supports industrial job creation in New York City by providing public and private financing for industrial acquisition and construction projects. The Industrial Developer Fund provides qualified real estate developers with: Grants; Low-interest subordinate loans; Guarantees on senior private loans.
The Commercial Expansion Program (CEP) provides property tax abatements for new, renewal, and expansion leases it is available for eligible commercial offices and industrial spaces to increase tenant occupancy in a designated abatement zone. For manufacturing businesses, the abatement lasts for up to ten years depending on the lease. Commercial and manufacturing businesses apply within 180 days of lease commencement. Retail businesses are ineligible.
55-acre City owned and operated campus with over 3 million square feet of leasable space for traditional, advanced, and food manufacturing.
**Businesses can apply for or use these programs only after they have arrived in NYC.**
The comprehensive program will develop an advanced manufacturing center, activate a network of facility and equipment sharing, as well as a virtual incubator and a suite of business extension services.
The City of New York helps food and beverage, industrial and retail businesses open or expand more easily and faster, and operate more smoothly and with fewer challenges. Business Acceleration provides a variety of services to help your business including free client management, plan reviews, consultations with inspectors and inspections from City agencies including Buildings, Fire, Health and Mental Hygiene, Environmental Protection, and Consumer Affairs.
**In addition to the programs listed above for your industry, please see these additional programs that can help for any industry.**