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.

News & Updates

Success Stories

  • ACME Smoked Fish Corp.

    Find out about how the Caslow family—four generations of pride, success, and ownership of Acme Smoked Fish—grew and made it here in New York City.

  • Remains Lighting

    With the support from NYCIDA’s Industrial Incentives Program, Remains Lighting, a maker of high-end chandeliers and other lighting devices, was able to purchase and renovate a manufacturing facility in Bushwick, Brooklyn in accordance with its long-standing commitment to energy efficiency and environmental preservation.

  • Julia Gray, Ltd.

    With the help of IDA, Julia Gray, Ltd. was able to purchase a larger facility in Long Island City, keeping jobs within the community and revenue in New York City.

  • Mondial Automotive Inc.

    Find out about a true immigrant entrepreneur success story. With the help of NYCEDC and NYCIDA, the Kaldawy family, founders of Mondial Automotive, was able to stay in Queens, grow their business and make it here, in New York City.