Grants and Business Incentives
New York offers business incentives and some grants, depending on how the funds are used. In this section, you will find grant information for special circumstances; tax credits for businesses; special interest loan programs that give interest, tax, or other incentives; as well as government-sponsored investment capital companies. Unfortunately, there are no federal or state grants to start-up your businesses.
When you are researching for grants, make sure you get your information from credible resources; there are many businesses out there that promise to deliver information and resources on grants but fall short and turn out to be money traps. When in doubt, check with the Better Business Bureau (http://www.bbb.org)
Resources to find information about grants and business incentives:
This Web site is managed by the Empire Estate Development (ESD) Agency. ESD provides professional assistance to businesses using highly qualified professionals in the industry.
- Relocate or establish a presence in New York.
- Expand operations.
- Retain or expand workforce in New York.
- Increase competitiveness and profitability.
The website features information on investment fund programs (for technology companies) as well as tax incentives for operating your business in one of the 72 economic development zones—known as Empire Zones (EZ)—throughout New York State (for tax information on the Empire Zone program go to the NYS Department of Taxation and Finance). This resource offers information on financial assistance, tax credits, and grants for:
- Acquisition of equipment, machinery, and land.
- Funds and assistance for Women and Minority owned businesses
- Investment funds for high-tech companies through the Small Business Investment Technology Fund (SBTIF).
- Financing and resources for biomedical and technology industries.
- Brownfield redevelopment.
- Enhancing productivity.
- Increasing export opportunities. Global Export Market Services (GEMS) provides up to $25,000 in export consultant services for a business and up to $50,000 worth of services for export groups.
- Working capital.
- Employee training.
- Improvement of existing building facilities or construction of new facilities for businesses (including infrastructures).
- Business resources such as business incubators.
In this website you can also find information on the World Trade Center Disaster Business Assistance Programs
This is a comprehensive website designed to encourage business in New York City. The website includes a financial incentives section:
- Property Incentives
- Empire Zones Incentives
- Industrial or Manufacturing Business Credit
- Qualified Empire Zone Enterprise Program
- Empire Estate Development Financial Incentives
- Utility Incentives
- Industrial Access Program
- Environmental Facilities Corporation
- Other Incentive Information
This Web site provides information on the following business incentives, financing opportunities, and grants. In this website you will find information on the following programs:
- Industrial and Commercial Incentive Program (ICIP)
- Industrial Business Zone (IBZ)
- Industrial Relocation Grant Program (IRG)
- The Relocation Fund for the Printing and Graphic Arts Industry
- Rent Abatement for Commercial and Industrial Tenants
- Lower Manhattan Energy Program
- Energy Cost Savings Program
- The Workforce Development Program
- Empowerment Zones Program
- Lower Manhattan Relocation and Employment Assistance Programs for eligible businesses
- New York State Investment Tax Credits
The SBA does not offer start-up grants or expand your business; go to http://www.sba.gov/financing for loan information. However, the SBA offers grants to organizations that provide small business assistance (financial, educational, and technical). These grants usually go to state and local governments, financial lending intermediaries, and non-profit organizations
This agency offers grants, financing opportunities, and other resources for small businesses in New York. The Web site has information on:
- Environmental information and Small business.
- Technical assistance.
- Environmental experts.
- Regulations and law.
- Financing and grant information.