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SUNY Downstate Health Sciences University

Biotech Grows in Brooklyn

Incentive Programs


NYC Economic Development Corporation (NYCEDC)

  • Relocation and Employment Assistance Program (REAP)

    Refundable tax credit up to $3,000 per employee for 12 years for commercial and industrial businesses relocating to designated areas of New York City.

  • Industrial Business Zone (IBZ) Relocation Credit

    A one-time tax credit of $1,000/ relocated employee up to $100,000 to manufacturing firms for moving costs to one of the City's IBZ.

  • NYC Biotechnology Credit

    Refundable tax credit up to $250,000/yr. for 3 years for facilities, operations and training


Empire State Development

Empire State Development Corporation (ESDC)

  • NYS Excelsior Jobs Program

Tax credits for job creation and significant financial investment

  • Start-Up NY
    • No business, corporate, sales, property, state or local taxes and no franchise fees for 10 years
    • No income tax for the company or its employees for 10 years.