Economic Incentives

Relocation Employment Assistance Program (REAP)

REAP benefits companies relocating to Industry City from Manhattan (below 96th St), or outside of NYC, by providing up to $3,000 annually for each full-time employee, for up to 12 years.

Examples:

150 Full Time Employees: $450,000 per year
175 Full Time Employees: $525,000 per year
200 Full Time Employees: $600,000 per year

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Relocation Assistance Credit for Employees (RACE)

RACE benefits companies relocating to New York City from out of state by providing $5,000 in tax credits annually for each full-time employee, for up to 10 years.

For example, an eligible out of state business relocating to Industry City with 50 full-time employees would receive a New York City income tax credit equal to $250,000 ($5,000 x 50) per year – effectively reducing the annual rent for a 10,000 SF office by $25 per RSF.

Relocating your business to Industry City could put real money back in your pocket — and we can help you get it.

Companies that move to our campus in Brooklyn are often eligible for significant tax credits and financial incentives through programs like REAP and RACE. Many businesses qualify without ever knowing these programs exist.

Tell us where you’re coming from. We’ll help you figure out what you’re eligible for and walk you through the process.