Benefits of the BID

WHY AN INDUSTRIAL BUSINESS IMPROVEMENT DISTRICT?

An industrial business district provides many advantages for its resident businesses. Collectively, the District achieves the following:

  1. GRANTS - Serves as a legitimate organization to apply for and receive grants from federal, state, and local governments.

  2. RESOURCES - Consistently provides resources for special projects and programs including capital improvements for public infrastructure, security, maintenance of public properties (e.g. supplementary services for sanitation, streetscape cleaning, and beautification).

  3. COMMUNICATION & PLANNING - A forum of ongoing communication for its members and a vehicle to provide a coordinated approach to economic development.

  4. ADVOCACY - Advocates as one voice for the needs of its businesses.

  5. GOVERNMENT NAVIGATION – Provides navigation, assistance, and support to businesses seeking government services and the resolution of problems.

NEW YORK STATE BROWNFIELDS OPPORTUNITY AREA

In November 2015, SIEDC commissioned Greener by Design LLC to lead a multidisciplinary group of planning, design, environment, and economic consultants for a Brownfields Opportunity study. Funded by the New York State Department of State’s Brownfield Opportunity Area (BOA) Program, this study considered the area as key development for industrial, manufacturing, logistics, and potential urban agricultural businesses. SIEDC has worked for the past five years to develop a West Shore Green Zone concept for the entire Arthur Kill corridor and the investment in and revitalization of the BOA area are critical for effective overall economic development to Staten Island. As part of the larger Green Zone project, the primary community revitalization objectives to be achieved by this project include Green technology development, Green manufacturing, and education partnerships to promote Green development, wetlands protection, brownfield remediation and activating vacant or under-utilized parcels. Anticipated community benefits resulting from this project include enhancing and educating local companies related to the Green economy, providing incentives for efficiency retrofits and advanced energy technologies, providing support and guidance to companies seeking financial incentives for Green investment, providing Green collar job retraining, enhancing community and educational partnerships, and creating renewable thermal and electric energy.

New York City Industrial Business Zone & IBZ Relocation Tax Credits

The WSBID is also part of the New York City Industrial Business Zone (IBZ) program. IBZs are regarded as high-performing industrial and manufacturing areas located throughout New York City. IBZs were established in 2006 to protect existing manufacturing districts, foster economic development, and encourage industrial growth citywide. The New York City Economic Development Corporation (NYCEDC) oversees all IBZs throughout the city.

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.


According to the NYCEDC, additional program eligibility requirements are as follows:

  • Only businesses that relocated after July 1, 2005 are eligible.

  • Businesses may purchase or lease the move-in site, and the eligible premise must be located entirely within an IBZ.

  • Businesses must have been conducting substantial business operations continuously during the past 24 months immediately preceding the relocation.

  • Businesses and their affiliates cannot own the move-out location.

  • Businesses providing utilities and waste management services are not eligible.


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).