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Representing almost 14% of all private sector employment, the industrial sector remains a cornerstone of the New York City economy and continues to be a vital source of well-paying jobs.
The Industrial Desk, housed in NYCEDC's Center for Economic Transformation (CET), was created in June 2011 to oversee the implementation of initiatives to support the industrial sector, and to evaluate and coordinate City-wide industrial policy as delineated by the 2005 Industrial Policy paper.
The Industrial Desk authored a October 2013 State of Local Manufacturing report that matches definitions, data, and local context to broad, ongoing conversations about manufacturing and manufacturing jobs.
The industrial sector is an integral part of the City’s economy that has faced serious challenges in recent decades but now offers real opportunities for growth and development. New York City, in particular, offers unique, location-based advantages for industrial activity, including a population of about 8.4 million, access to a large workforce and highly-skilled labor, and one of the nation’s busiest ports based on import volume. The City is committed to aggressively leverage these natural assets to promote innovation and entrepreneurialism to position the sector as a vital part of the 21st century economy.
Through discussions with the businesses and stakeholders and careful analysis, we have identified challenges facing the industry and developed innovative solutions to meet these challenges.
The City helps to correct the shortage of suitable industrial real estate by creating, modernizing, and preserving industrial spaces. The dynamics of industrial real estate have changed dramatically in the last 50 years. Whereas 20th century industrial businesses, for which most of our industrial real estate was built, required large footprint buildings, today's businesses are more nimble and are focused on accessing smaller, updated spaces. In addition to this shift in demand, the shortage of desirable industrial space is also aggravated by continued conversion of industrial space to higher revenue uses.
Initiatives for creating more suitable spaces for industrial businesses include:
The City tailors financing resources to the needs of today's industrial businesses by creating new financing tools and increasing access to existing funding programs. Initiatives for improving access to financing include:
As our industrial businesses evolve, so must the City resources serving them. Initiatives aimed at to better aligning City resources with the needs of industrial businesses include:
In 2005, the Industrial Business Zones (IBZs) were created to stabilize primarily industrial areas in the Bronx, Brooklyn, and Queens. Most recently, new IBZs were created in both Staten Island and Queens. The designations of these areas as IBZs foster high-performing business districts by creating competitive advantages over locating in areas outside of New York City. The IBZs are supported by tax credits for relocating within them, zone-specific planning efforts, and direct business assistance from Industrial Providers of NYC Business Solutions Industrial & Transportation. In view of the purposes of IBZs, to foster industrial sector growth by creating real estate certainty, the previous Administration stated that it would not support the rezoning of these areas for residential use. View the boundaries of the 19 Industrial Business Zones on the Ratified IBZs pdf.
The Industrial Business Zone boundaries have been modified. For more information please visit the Industrial Business Zone page.
NYC Business Solutions Industrial & Transportation is a set of services offered by the Department of Small Business Services to help manufacturing, construction, transportation and wholesale businesses operate and expand in New York City. In order to provide the most tailored support, each IBZ has a specific service provider assigned to cover it.
Whether you’re a small business owner who needs a loan to purchase new equipment, a manufacturer looking for quality production or supervisory staff, or a growing company that needs licensed drivers, NYC Business Solutions Industrial & Transportation can work for you—for free. Their services include: financing assistance, recruitment, incentives assistance in navigating government, training, M/WBE certification, business courses, legal assistance, selling to government, and reaching new customers.
Their teams, located across all five boroughs, have the industry experience and resources to address the challenges you face. To learn which industrial provider serves your geographic location, please visit NYC Business Solutions Industrial & Transportation.
New York City industrial firms may be eligible for a variety of tax incentives, financing tools and workforce development programs. These incentives range from energy savings and real estate to job creation and business relocation.
To see which financing and incentives opportunities are appropriate for your business, please visit NYCEDC's Financing and Incentives page. For an overview of the many incentives for all of New York City's small businesses, please visit NYC Business Solutions Incentives overview.