Protecting and promoting our industrial sector is crucial to the city’s overall economic development. In January 2005, Mayor Bloomberg created the Office of Industrial and Manufacturing Businesses to retain and grow the sector’s job base, execute the goals of the industrial policy, and serve as a single point of coordination for the industrial and manufacturing sector.
 
The sector provides close to 500,000 jobs in New York City, making up nearly 15% of the city’s workforce, and contributed $1.7 billion in tax revenues in 2004. The manufacturing and industrial sector is not only a strong component of our economy but a reliable source of jobs for many of our fellow New Yorkers. More than half of the employees in the industrial sector have a high school diploma or less and nearly a fifth have limited English proficiency.
 
New York City is a strategic location to operate an industrial business. The unparalleled concentration of residents, businesses, economic activity, and wealth creates a tremendous end market for the industrial sector. Every employer praises the New York City workforce for its unparalleled diversity, depth of talent, commitment, and proactive attitude.  Despite these advantages, challenges remain for the sector. Space to expand or relocate is expensive and scarce, operating costs are high, and there is a perception that the overall business environment presents obstacles. Our Office has begun to address these issues.
 
Our Office broadened the Commercial Expansion Program to create benefits especially for industrial and manufacturing businesses that rent their spaces.  In early 2006 our Office created 16 Industrial Business Zones across the City where expanded business services are available for industrial and manufacturing businesses.  A relocation tax credit of $1,000 per employee is offered for manufacturing and industrial businesses that choose to relocate within the Industrial Business Zones.  Moreover, the zones represent areas where the Bloomberg Administration guarantees it will prohibit any new residential development.  And State tax credits are also available to qualified businesses located in certain Industrial Business Zones as a result of the recent reconfiguration of the New York City’s Empire Zones.

Our Office intends to see these initiatives grow and better serve the city’s industrial and manufacturing businesses. We encourage you to explore this site to learn more. Please contact us to let us know how we can help you.