Industrial Business Zone Relocation Credit

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The Industrial Business Zone (IBZ) Relocation Tax Credit is a one-time tax credit of $1,000 per relocated employee available to industrial and manufacturing firms relocating to one of the City's 21 IBZs. Firms relocating within an IBZ are also eligible.

Businesses that are receiving benefits under the Relocation Employment Assistance Program (REAP) are not eligible for IBZ Relocation Tax Credits.

Additional program eligibility requirements are as follows:

Designated Industrial Business Zones include (see Links to Additional Information below for maps of each zone):

The tax credit is applied against the business' City tax liability and cannot exceed the lesser of actual relocation costs or $100,000. There is no application for this program; firms can claim the tax credit on their General Corporation Tax (GCT) or Unincorporated Business Tax (UBT) during the tax year of the move. GCT filers can find the IBZ tax credit in Form 9.6 and UBT filers can find the IBZ tax credit in Form 114.6 (links to these forms are available below).

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Additional Resources
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Claim for Credit Applied to General Corporation Tax

Claim for Credit Applied to Unincorporated Business Tax

Maps of Industrial Business Zones

New York City Economic Development Corporation Industrial Initiatives

NYC Business Solutions Industrial and Transportation Centers

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About
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Description
Businesses must have an Employer Identification Number (EIN). Sole Proprietors that do not have an EIN may use a Social Security Number (SSN). LEARN MORE
Social security number (UBT filers only).
Date moved into IBZ.
Location(s) of business operations continuously during the 24 months immediately preceding relocation.
Address of business operations within the IBZ.
Inception date of lease to new IBZ location.
Number of industrial and commercial full-time jobs (not less than 30 hours per week of gainful employment) relocated to New York City. Industrial employees are those engaged in the manufacturing or assembling of tangible goods or the processing of raw materials. Commercial employees refer to those engaged in the buying, selling, or otherwise providing of goods and services, other than on a retail basis, directly to the ultimate user or consumer.
Basic rent paid or required to be paid to the landlord for premise. Basic rent means the rent provided for under a written lease for the use or occupancy of premises, excluding separately stated amounts required to be paid by the leaseholder for such items as real estate taxes, maintenance expenses or fuel adjustments.
Maintenance expense paid to landlord.
Relocation costs incurred in the relocation of the furniture, fixtures, equipment, machinery, and supplies, including the cost of dismantling and reassembling equipment and the cost of floor preparation necessary for the reassembly of the equipment. Relocation costs include only such costs that are incurred in the 90-day period following relocation to an eligible premise. Relocation costs do not include costs for structural or capital improvements or items purchased in connection with relocation.
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How to Apply
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Description
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After You Apply
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Industrial and manufacturing activities means activities involving the assembly of goods to create a different article, or the processing, fabrication, or packaging of goods. Industrial and manufacturing activities shall not include waste management or utility services.
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Operating and Renewing
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Description
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How to Apply
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Additional
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Review General Information link listed under Additional Information, above, to understand eligibility requirements.
Review Map of Industrial Business Zones link listed under Additional Information, above, to determine eligibility of business location.
Determine information required to submit a claim for credit on a tax return (on the General Corporation Tax or Unincorporated Business Tax).
Attach and submit the appropriate form (form NYC-114.6 for the Unincorporated Business Tax Return or form NYC-9.6 for the General Corporation Tax Return) with the business’ tax return.
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How to Apply
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applyInPerson
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applyByMail
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Operating and Renewing
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renewOnline
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Operating and Renewing
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Operating and Renewing
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NYC Department of Finance
59 Maiden Lane
New York
NY
10038
http://www1.nyc.gov/site/sbs/businesses/contact.page
Industrial Business Zone Relocation Tax Credit
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