Metro Inventory
Overview

TAX INCENTIVES AVAILABLE IN NYC

New York State Qualified Emerging Technology Company Credit QETC)
QETC program could provide early-stage technology companies, including biotechnology, with a capital infusion of up to $1MM.  

Empire Zone
The program provides New York State tax credits and tax exemptions to manufacturing and biotech firms that are located in an Empire Zone, and that are growing employment and investing in real estate and equipment.  NYC’s primary biotech real estate, the East River Science Park (ERSP) and the Brooklyn Army Terminal (BAT), are located in Empire Zones.  To learn more about the certification process at ERSP, contact the Empire Zone Coordinator at the Renaissance Economic Development Corporation; and Southwest Brooklyn Industrial Development Corporation for BAT. 

NYC Biotech Tax Credit 
The New York City Council has introduced legislation to create a new Biotech tax credit for small biotech companies to accelerate their commercialization efforts by providing a refundable tax credit for facilities, operations, and training. 

Information on the Biotechnology Tax Credit for GCT and UBT filers has been posted to the website at:

ALTERNATIVE FUNDING

New York City Investment Fund
An investment fund of more than $100 million, NYCIF invests in internet and technology companies. It is run by a network of top experts from the investment and corporate communities, who help identify and support New York City's most promising entrepreneurs. 

East River Science Park Lab Space Loan Fund 
The New York City Investment Fund (NYCIF) has created a new $15M loan program that is available for bioscience companies looking to establish headquarters and principal operations at the East Rivers Science Park in Manhattan. 
                 

FEDERAL PROGRAMS


SBIR/STTR

A federal set-aside program for domestic small business concerns to engage in Research/Research and Development that has the potential for commercialization. 

Small Business Technology Investment Fund (SBTIF)
Provides early stage high-tech companies throughout New York State with a potential source of venture capital to promote new job creation and economic growth.  The Fund makes venture capital investments in NYS based companies that have developed innovative technology products (and related services) which display significant competitive advantage(s) and market acceptance. 

Technology Transfer Incentive Program (TTIP)
Helps New York companies commercialize high-tech innovations in partnership with colleges and universities by providing awards to institutions of higher education to move leading-edge technologies from the research lab to the marketplace.