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.
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.
These NYCIDA programs have expired and are no longer active.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
For as-of-right incentives, visit NYC Department of Small Business Services’ guide to business incentives.