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NYCIDA makes New York City more competitive and creates jobs for New Yorkers by helping companies locate here, undertake capital expansions, or grow existing operations.
The mission of the New York City Industrial Development Agency (NYCIDA) is to encourage economic development throughout the five boroughs, and to assist in the retention of existing jobs, and the creation and attraction of new ones. NYCIDA programs are discretionary and provide companies with access to triple tax-exempt bond financing and/or tax benefits to acquire or create capital assets, such as purchasing real estate, constructing or renovating facilities, and acquiring new equipment. All applicants must satisfy eligibility requirements and demonstrate a need for assistance.
Since January 2002, NYCIDA has closed more than 409 transactions, leveraging discretionary incentives to induce more than $22.3 billion in private investment and to retain or create more than 121,800 jobs.