NYCEDC has created an ecosystem to develop businesses across industries and stages of development with access to information, funding, training, and innovative competitions.
NYCEDC, in partnership with academic institutions, commercial landlords, and space operators, established a network of affordable, community-oriented, high-quality incubator spaces that come with basic business services and administrative support. In partnership with arts organizations, NYCEDC also makes available its properties to display works of emerging artists.
NYCEDC offers information about a variety of New York City equity, financing, and incentives programs designed to help businesses thrive.
NYCEDC offers a series of tax benefits designed to encourage companies to establish or expand operations in specific areas of New York City. Make sure your business takes advantage of all the incentives programs for which it is eligible.
An early stage investment fund, New York City Entrepreneurial Fund, will make initial investments of up to $750,000 to City-based technology-enabled companies. The fund was created with $3 million in NYCEDC funds, matched by up to $4.5 million of private sector funds provided by Firstmark Capital. Firstmark Capital has also reserved an additional $15 million for follow-on investments.
Access to financing to help City-based companies continue to grow is crucial to a healthy economy. NYCEDC has launched the NYC Capital Access Loan Guaranty Program to support business expansion. This public-private lending program enables banks and credit unions to make loans to micro and small businesses that may not qualify for conventional bank loans.
NYCEDC offers programs that help entrepreneurs grow their skills, receive mentoring, connect with the larger business community, and garner resources—all in order to help the City thrive.