Programs

NYCIDA programs provide incentives on a discretionary basis that may include:

Tax-exempt bond financing – Provides lower-cost capital for acquisition and/or construction of facilities and equipment. Available only to manufacturing companies.
Sales and use tax exemptions – Exempts sales tax on purchases and/or leases of machinery, equipment, and construction materials for renovations at approved locations.
Mortgage recording tax (MRT) – Waives mortgage recording taxes over the term of the financing.
Real estate tax reductions

Below is a list of NYCIDA’s commonly accessed and currently active programs. To determine which program is appropriate for your company, contact NYCIDA. If your company project does not fit into these programs but will lead to large economic returns for New York City or will create other public benefits, please contact us as you may qualify for other NYCIDA benefits.

Programs

Tax Incentives ›

Commercial Tax Incentives

Last Updated December 1, 2011 at 6:16 pm
Discretionary tax incentives for commercial projects with significant economic benefit to New York City.
Financing ›

Exempt Facilities Bond Program

Last Updated February 29, 2012 at 4:45 pm
Assistance in the form of tax exempt bonds for companies undertaking capital projects on publicly-owned docks and wharves or solid waste recycling facilities in New York City.
Tax Incentives ›

Food Retail Expansion to Support Health (FRESH)

Last Updated September 17, 2012 at 10:39 am
FRESH, an initiative of New York City Mayor Bloomberg’s Five-Borough Economic Opportunity Plan, promotes the establishment and retention of neighborhood grocery stores in underserved communities by providing zoning and financial incentives to eligible grocery store operators and developers.
Financing ›

Hurricane Emergency Sales Tax Exemption Program (HESTEP)

Last Updated May 14, 2013 at 4:56 pm
This program provides emergency assistance to New York City small businesses in response to the devastating impact of Hurricane Sandy.
Tax Incentives ›

Industrial Incentives for Developers

Last Updated December 6, 2011 at 5:33 pm
Tax reductions for developers undertaking industrial projects in Empire and Empowerment Zones in New York City.
Tax Incentives ›

Industrial Incentives Program (IIP)

Last Updated December 19, 2011 at 4:35 pm
Tax reductions for industrial companies in New York City undertaking capital renovation projects.
Financing ›

Manufacturing Facilities Bond Program

Last Updated December 19, 2011 at 4:36 pm
Tax-exempt bonds for manufacturers of tangible personal property acquiring, developing, renovating or equipping facilities in New York City.

Hudson Yards Program

Under NYCIDA’s Uniform Tax Exemption Policy, NYCIDA can grant benefits to certain commercial construction projects in the Hudson Yards area of Manhattan. To learn more about this program, download the project application or contact NYCIDA.