EDC Incentives

The New York City Economic Development Corporation (NYCEDC) can help lower project costs via tax incentives and bond financing. These incentives come from two groups:

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

New York City Industrial Development Agency

NYCIDA programs help businesses grow. NYCIDA offers several incentives, including:

• Property tax reduction for up to 25 years
• Lower mortgage recording tax
• No sales tax on some materials

Eligible businesses and projects include:

• Businesses fixing or building office space in busy parts of New York City
• Property owners renting space to fashion manufacturers in the Garment District
• Businesses building or growing industrial sites

If you are interested in these incentives, contact the NYCIDA.

Build NYC

Build NYC offers bond financing for tax-exempt groups. This money can be used for:

• Real estate
• Debt refinancing
• Operations

Benefits may also include no mortgage recording tax.

Eligible projects include:

• Airport facilities
• Solid waste disposal facilities
• Recycling facilities

Contact Build NYC for more information.