Skip to main content

Lower Manhattan Relocation Employment Assistance for Eligible Businesses


City Finance, Department of

The Lower Manhattan Relocation and Employment Assistance Program for Eligible Businesses (LMREAP-EB) offers business income tax credits for relocating businesses to Lower Manhattan.

The business has to move at least one employee from outside the LMREAP-EB area to a qualified location to be eligible.

Qualified Locations in Lower Manhattan - The LMREAP-EB area lies south of a line running from the intersection of the Hudson River with the Holland Tunnel; running north along West Street to the intersection of Clarkson Street; running east to the intersection of Washington Street; running south along the centerline of Washington Street to the intersection of West Houston Street; and east along the centerline of West Houston Street, then at the intersection of the Avenue of the Americas the line continues east along the centerline of East Houston Street to the easterly bank of the East River.


  • An annual credit of $3,000 for twelve years per eligible employee, or per "eligible aggregate employment share" (EAES) for relocating to a designated location.  The number of EAES's is roughly the same as the number of full-time employees working at the eligible location. There are some limitations.
    • The credit may be taken against the following:
      • NYC General Corporation Tax (GCT)
      • Banking Corporation Tax (BCT)
      • Unincorporated Business Tax (UBT), and/or
      • Utility Tax

Credits are refundable for the year of relocation and the next four years. Unused credits from subsequent years may be carried forward for five years.

Deadlines - The application deadline was extended to June 30, 2020.  You must file for annual re-certification for each eligible year.

NYC Department of Finance (DOF)

66 John Street 3rd floor
New York, NY 10038

For further assistance, please call 311 and ask for: Lower Manhattan REAP for Eligible Businesses

Learn which permits, licenses and regulations matter to you Use the Step by Step tool to get an exhaustive list of requirements that matter to you.
Use the Step by Step tool