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

    Discretionary tax incentives for commercial projects with significant economic benefit to New York City.

  • Tax Incentives

    Food Retail Expansion to Support Health (FRESH)

    Last Updated

    FRESH promotes the establishment and expansion of neighborhood grocery stores in underserved communities by providing zoning and financial incentives to eligible grocery store operators and developers.

  • Financing & Incentives /  Tax Incentives

    Futureworks NYC Growth Initiative

    Last Updated

    The Futureworks NYC Growth Initiative provides early-stage companies using and developing advanced manufacturing technologies with up to $30,000 in funding over two years to support their growth in New York City.

  • Tax Incentives

    IDA Life Sciences Program

    Last Updated

    Life Sciences Incentives & Financial Financing Information

  • Tax Incentives

    Industrial Incentives for Developers

    Last Updated

    Tax reductions for developers undertaking industrial projects in Empire and Empowerment Zones in New York City.

  • Tax Incentives

    Industrial Incentives Program (IIP)

    Last Updated

    Tax reductions for industrial companies in New York City undertaking capital renovation projects.

  • Financing

    NYC Development Finance Conference

    Last Updated

    The NYC Development Finance Conference is an annual event that brings together not-for-profits, developers, lenders and other industry experts to discuss tools for innovative economic development throughout the five boroughs.

  • Tax Incentives

    Open Industrial Uses Sales Tax Exemption Program

    Last Updated

    The Open Industrial Uses Sales Tax Exemption Program (OIUSTEP) provides companies with sales tax exemptions for the purchase of building materials to renovate and improve unenclosed industrial materials storage facilities in order to implement cost-effective pollution prevention controls and to create stronger safeguards for hazardous materials in the city’s flood zones.

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.

Past Programs

These NYCIDA programs have expired and are no longer active.

  • Recover NYC Program (CRC)
  • New York Liberty Bond Program
  • Not-For-Profit Bond Program
  • Empowerment Zone Facilities Bond Program

Other Incentives

For as-of-right incentives, visit NYC Department of Small Business Services’ guide to business incentives.