DO BUSINESS / LIFE SCIENCES / WHY LIC / INCENTIVES
With the combined $1.15 billion in life sciences initiatives offered by New York State and New York City and the existing incentives for projects locating outside Manhattan’s central business district, a wide array of resources (tax credits and reductions, rent abatements, grants and loans, and energy cost reductions) make locating and operating in LIC even more financially attractive.
LICP has its own Business Assistance Department that is happy to assist you find space, connect to financing, or coordinate government approval and services. Contact us at: firstname.lastname@example.org.
Business Assistance Program (LICP): assistance available for local business owners
Commercial and Industrial Energy Efficiency Program (Con Edison): for energy efficiency measures
Commercial Expansion Program (City): for improving or building new space
Empire State Capital Funds (State): for improving or building new space, acquiring equipment, and training
Excelsior Jobs Program (State): for creating new jobs
Green Infrastructure Program (City): for including eco-friendly measures in new building projects
IDA Life Sciences Program (City): for improving or building out new lab space
Industrial Business Zone Relocation Credit (City): for industrial and manufacturing companies relocating to an IBZ
Industrial & Commercial Abatement Program (ICAP) (City): for improving or building out new space
Qualified Emerging Technology Company Employment Credit (State): for technology companies growing jobs
Qualified Emerging Technology Company Capital Credit (State): for investments in technology companies
Relocation and Employment Assistance Program (REAP) (City): companies relocating to LIC are eligible
R&D Tax Credit (Federal): for companies increasing research expenditures
SBA Loans (Federal): for small-business growth, hiring, equipment, and real estate
In addition, much of LIC’s waterfront and M-zoned sites are within Federal Opportunity Zones and many more programs may be available for particular projects.