Financing & Incentives

Business Incentives Rate

Business Incentive Rate (BIR) is an energy discount program co-administered by NYCEDC and Con Edison. 

Program Description

The program is designed to encourage economic growth in the manufacturing and industrial sectors by offering a discount off of Con Edison’s electric delivery charges. Con Edison directly provides the electricity discount to eligible businesses under this program. NYCEDC processes and tracks the paperwork and performs Account Management and Compliance functions.

Eligibility & Tips

New York City businesses in the five boroughs that are manufacturers or have wholesale distribution facilities, take space in previously vacant commercial/industrial buildings, move into newly constructed buildings, or meet other economic development criteria may applyCompanies are expected to increase and maintain their employment in NYC. The company must also be applying for (and subsequently receiving) another city or state benefit that equals or exceeds the value of the BIR benefit.

Retail establishments are excluded from participating in this program. This includes stores (such as grocery stores), restaurants, franchises, chain establishments, and related businesses. Government entities are also excluded from receiving the BIR benefit.

BIR benefits approved by NYCEDC are discretionary and are intended to assist projects that meet New York City goals and that would be beneficial for the City.

Program Benefits

The Business Incentive Rate reduces the delivery components of electricity bills by 30-35 percent. The program has a term of five years.

Contact Info

NYCEDC
110 William Street 
New York, NY 10038 
(212) 312-3600
(888) NYC-0100