EDC Incentives

The New York City Economic Development Corporation (NYCEDC) can lower the costs of projects with tax incentives and bond financing.

These incentives are administered through two organizations:

• The New York City Industrial Development Agency (NYCIDA); and
• Build NYC Resource Corporation (Build NYC).

New York City Industrial Development Agency

• Property tax reduction for up to 25 years;
• Reductions on the mortgage recording tax; and/or
• A waiver on sales taxes for certain materials.

• Businesses renovating or constructing commercial office space in transit-rich parts of New York City;
• Property owners leasing space to Fashion Manufacturers in the Garment District; and/or
• Businesses building or expanding industrial facilities.

Build NYC

Companies can also apply to Build NYC to help finance certain infrastructure projects for “exempt facilities.” Eligible projects include airport, solid waste disposal, and recycling facilities.

Contact Build NYC directly for more information.