Financing & Incentives

Job Creation and Retention Program

The Job Creation and Retention Program (“JCRP”) provides discretionary grants to eligible companies committing to create a minimum of 75 new jobs in Lower Manhattan, as well as to employers making a commitment to retain at least 200 Lower Manhattan jobs. Companies have until the end of 2015 to request a JCRP Grant Offer.

Who Should Apply?

Companies that project creating at least 75 full-time permanent jobs in Lower Manhattan (south of Canal Street) that are also new to NYC.

  • The minimum job creation must be achieved within 4 years with half of the jobs created within two years.
  • The company has not yet made a commitment to locate the new jobs in Lower Manhattan.
  • The company's new jobs will be maintained in Lower Manhattan for at least 10 years. Failure to do so during the commitment term will subject the company to a recapture of grant funds. 

Eligibility Conditions

  • Only companies that have not yet made a long-term commitment where to locate its New York City workforce will receive an offer of JCRP grant assistance.
  • Companies will be requested to provide compelling information to support their job projections.
  • Grantees are required to achieve a two-year job creation milestone to remain eligible to receive grant funds based on four-year growth projections.
  • Companies are required to provide annual employment reports to ESDC for the duration of grant term.

Note: As a discretionary program, eligibility does not guarantee that an incentive offer will be extended.

Grant Approval Process

Job Creation and Retention Program process overview:

  1. Interested companies fill out the Basic Information Questionnaire.
  2. Upon review of the Questionnaire, ESDC and EDC conduct an initial consultation with the company to determine eligibility.
  3. Eligible companies submit project information to ESDC and EDC for review. 
  4. An incentive grant offer with terms and conditions is issued upon approval.
  5. Companies accepting grant offers may apply to ESDC for a disbursement of grant funds after achieving the incentive grant offer’s terms and conditions. 
  6. Approved companies enter into a binding grant agreement with ESDC and receive grant funds (funds may be applied against wages, health benefits, rent, movable equipment and furniture).

Request a JCRP Grant Offer

To request a JCRP grant offer, please complete the Preliminary Assessment Form and submit it via email or fax at (212) 803-3131. Companies have until the end of 2015 to request a JCRP Grant Offer.

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