The New York Grant Company, a EACCNY member, is pleased to let you know that all of New York City’s as-of-right economic incentives have been renewed and extended as part of the State’s 2014 budget package signed into law by the State legislature and Governor Cuomo on April 1, 2014.
Moreover, all of the incentives are effective retroactive to any sunset dates which have already passed for many of the programs. This means that any company which signed or renewed a lease, made qualified expenditures, or relocated to New York City prior to April 1 may still qualify. Please call us if you have any questions at 212-227-8283 and ask to speak with anyone on our team for assistance.
The following is a quick at-a-glance chart summarizing the new extended dates, plus references to other major active incentives in New York City’s five boroughs.
|Program||New Sunset Date|
|Lower Manhattan Commercial Revitalization Program Real Estate Tax Abatement||3/31/16|
|New York City Commercial Expansion Program Real Estate Tax Abatement (Citywide)||3/31/16|
|Lower Manhattan Commercial Rent Tax Special Reduction for pre-1975 Buildings||3/31/16|
|Lower Manhattan Commercial Rent Tax Special Reduction for post-1975 Buildings||6/30/15|
|Relocation Employment Assistance Program (Citywide) and Lower Manhattan Relocation Employment Assistance Program||6/30/15|
|Lower Manhattan Special Sales Tax Exemptions for World Trade Center, World Financial Center, and Battery Park City||12/1/18|
|Lower Manhattan Special Sales Tax Exemptions for Buildings Other than WTC/WFC/BPC South of Murray Street||12/1/16|
|Lower Manhattan Energy Program and Energy Cost Savings Program (Citywide)||6/30/15|
|Industrial and Commercial Abatement Program (Citywide)||2/28/17|
|New York City Industrial Development Agency incentives (Citywide)||Ongoing|
|Lower Manhattan Job Creation and Retention Program||Ongoing|
|New York State Excelsior Jobs Program||Ongoing|
|NYSERDA Energy Related Incentives||Ongoing|
|Con Edison and National Grid Energy Related Incentives||Ongoing|
If you or anybody you know is involved in creating new jobs, training a workforce, or leasing, buying, or improving real property, or if you or anybody you know has leased commercial or industrial space in the City within the past 180 days, please give us a call. Valuable benefits may await you!
You can contact them at 212-227-8283 and ask to speak with anyone on our team for assistance or email firstname.lastname@example.org