Business Incentives Rate
Business Incentive Rate (BIR) is an energy discount program co-administered by NYCEDC and Con Edison.
BIR lowers energy costs by reducing Con Edison’s electric delivery charges by 34 to 39 percent. The term of the program ranges from 5 to 15 years and is designed to encourage economic growth in the manufacturing and industrial sectors.
Applicants should meet at least one of the following:
- Located in the five boroughs and are either manufacturers or have wholesale distribution facilities (non-retail)
- Taking space in previously vacant commercial/industrial buildings
- Moving into newly constructed buildings*
- Constructing publicly accessible electric charging stations with a minimum of 100kW aggregate charging capacity as part of the FreightNYC initiative
- Are nonprofit biomedical research facilities
- Are designated as a business incubator by a government entity and/or receive funding from another entity with a mission that includes development of businesses in New York City
- Graduated from a qualifying business incubator
- Meet other economic development criteria
- Company must also be applying for (and subsequently receiving) another city or state benefit that equals or exceeds the value of the BIR benefit (electric charging stations are not required to meet this criteria).
- Must maintain and increase current number of NYC employees
BIR benefits are approved by NYCEDC and are discretionary. Your business may also require an energy efficiency survey.
* Newly constructed buildings qualify if at least 75 percent of your building was unoccupied for 12 consecutive months out of the 24 months preceding the rate application. Extensions or additions not eligible.
- You must apply for BIR within 30 days after you apply for state and local tax incentives or energy rebates.Cost reductions will be applied to the delivery portion of your bill.
- Term of the program is commensurate with the term of the other economic incentives granted with a maximum term of 15 years (10 years + 5-year phase-out). The term for electric vehicle quick charging stations is 7 years.