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List of incentives available in this location for quick easy reference below.

Incentives

Table key

  • Incentive offered
  • Incentive not offered
  • Did not submit information
Cash grants/incentivesMore [+]Less [-]
  • Cash grants may be available to businesses investing capital in New York State, creating and/or retaining employment.
Tax exemptionsMore [+]Less [-]
  • Incentives can reduce a company's overall effective tax burden to the statutory minimum tax (1.5%). Qualified NYS manufacturers are taxed at a preferential rate of 6.5% (normally: 7.1%).
  • Corporations are allowed an Investment Tax Credit of 5% of new capital invested in buildings and/or depreciable tangible personal property used in production. The credit is 4% for investments over $350 million or when made by personal income taxpayers.
  • Investment in qualified research and development property is eligible for a 9% credit against the corporate franchise tax (7% against the personal income tax).
  • An additional credit of 1.5% to 2.5% of the same new capital investment used as the basis for the ITC is available to taxpayers that increase employment after the investment.
  • Enhanced incentives are available to taxpayers investing and increasing employment in a New York Empire Zone. If not refundable, unused EZ credits have an unlimited carryforward.
Property assistance / other fiscal incentiveMore [+]Less [-]
  • ESD provides several programs that assist with necessary infrastructural improvements for (pre) construction. An example is the Restore New York Communities Initiative, where funding is available for projects involving the demolition, deconstruction, rehabilitation and/or reconstruction of vacant, abandoned, condemned and surplus properties.
  • New York State does not levy real property taxes; however property taxes are levied by local governments. Property taxes are imposed on real property only. Personal property, whether tangible or intangible, is exempt from ad valorem taxation.
  • Property tax exemptions may be available for investment/improvements to business/commercial real property.
  • Tax credits and liability relief may be available for Brownfield cleanup and redevelopment programs. In addition, New York’s Green Building Tax Credit may be available for the enhancement of the supply of environmentally sound buildings in New York.
Training and labor market assistanceMore [+]Less [-]
  • Workforce training grants (funds).
  • State-wide Job (talent) banks.
  • Databases of jobseeker resumes.
  • Recruitments/job fairs.
  • Workforce data.
  • Regional business services.
  • Federal Tax Credits may be available to employers providing work opportunity, with a maximum of $3.000 per employee per taxable year, depending on the program.
  • In addition, NYS provides a tax credit for security training.
Loan guarantees, cheap loans or financeMore [+]Less [-]

NYS provides subsidized working capital loans for companies investing in real estate, machinery and equipment. Some examples:

  • Loans can be provided for up to 40% of the total project costs of Real Estate projects or for purchasing machinery and equipment in the JDA program.
  • Loans up to a maximum of $5 million are available under the Metropolitan Economic Revitalization Fund.
Exemptions from regulations
Target sectorsMore [+]Less [-]
  1. Biotechnology & Life Science
  2. Nanotechnology
  3. Renewable energy & Green Technology
Sectors specific incentivesMore [+]Less [-]
  • Empire State Film Production Credit – A refundable credit against corporate franchise (income) tax and personal income tax for qualified film production companies, or sole proprietors of qualified film production companies.
  • Empire State Commercial Production Tax Credit -- This credit is provided to a taxpayer that is a qualified commercial production company, or a partner of a partnership that is a qualified commercial production company.
  • Emerging Technologies -- Refundable tax credits may be available for employment, investment, expenditures and training of Qualified Emerging Technology Companies.
  • In the proposed Excelsior Program for FY 2010-2011, Tax Credits will be available for investments, created jobs and R&D for companies in the top targeted sectors such as biotechnology, clean-tech, high-tech and pharmaceuticals.

Sponsorship

If you are the authorised promotions agency for New York and would like to have your location highlighted on fDi Atlas, you can contact our sales team on + 44 (0) 207 775 6667 or contact us here.