BUSINESS SERVICES
Real Estate and Relocation
Real Estate Listings
Industrial Business Zone Relocation Credit
Greenpoint Williamsburg Relocation Program
Relocation and Employment Assistance Program (REAP)
MoveSmart/StayLean
Real Estate Listings
Looking for space? Got space to rent or a building to sell? Call Karen Nieves at 718-388-7287 x160 for up-to-the-minute real estate availabilities.
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Industrial Business Zone (IBZ) Relocation Credit
The City provides a one time tax credit for manufacturing firms moving or expanding into targeted IBZs. Businesses are credited for eligible moving costs up to the lesser of $1,000 per full-time employee relocated or $100,000. Firms must apply for the credit within the same tax year as the move. General Corporation Tax filers can find the IBZ tax credit here:
http://www.nyc.gov/html/dof/html/pdf/06pdf/nyc9_6_06.pdf
Unincorporated Business Tax filers can find the IBZ tax
credit here:
http://www.nyc.gov/html/dof/html/pdf/06pdf/nyc114_6_06.pdf
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Greenpoint-Williamsburg Relocation Program
This fund was created to assist businesses affected by the rezoning of Brooklyn Community Board 1 effective May 1, 2005. Businesses affected by the rezoning may be eligible for a grant to help offset their moving costs. Only firms that relocate from the affected area to another part of NYC (exclusive of Manhattan south of 96th Street) are eligible for this program. Applicants MUST apply prior to the execution
of a new lease or contract of sale. Other restrictions may apply.
To access an application visit:
http://home2.nyc.gov/html/imb/downloads/pdf/gwrp_application.pdf
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Relocation and Employment Assistance Program (REAP)
A 12 year annual tax credit of $3,000 for each qualified job relocated into a targeted CEP area, or $1,000 in non-CEP areas. Benefits for new hires are also available. Businesses must relocate either to a building improved by at least 50% of its assessed value or sign a lease of at least 3 years and spend a minimum of $25 per square foot on improvements. Businesses relocating from outside New York City or from Manhattan below 96th Street to any other area of the City qualify. REAP benefits are also available to businesses relocating into Lower Manhattan. Retail firms are ineligible. Restrictions exist for businesses moving from south of Houston Street.
For more information visit:
http://www.nyc.gov/html/dof/html/property/property_tax_reduc_reap.shtml
To access an application visit:
http://www.nyc.gov/html/dof/html/pdf/04pdf/reap.pdf
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MoveSmart/StayLean
Facility expansion or relocation is a very expensive, capital intensive project. It must be planned and executed carefully to reduce business disruption and achieve a successful outcome. Even firms that are not expanding or relocating can benefit from plant layout services to utilize their existing space more efficiently. The Industrial & Technology Assistance Corp. (ITAC) team can assist the firm to prioritize their space requirements over the next five years, plan their relocation and lay out their new facility. For more information please contact Elizabeth Taylor, Communications Manager at 212-442-4567.
EWVIDCO 11 Catherine Street Brooklyn, NY 11211 • T 718 388-7287 • F 718 963-1905
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