Financial Incentives

BKLYN Army Terminal Aerial View

Brooklyn Army Terminal is located in a state-designated Empire Zone and offers a variety of business incentives that can help qualified companies save money. Explore our resources to learn more about money-saving opportunities at Brooklyn Army Terminal.

Incentive Programs

New York City Economic Development Corporation (NYCEDC) manages Brooklyn Army Terminal and can also help you determine if your company qualifies for valuable programs like tax-exempt financing, employee recruitment and training services, or other business resources.

Accelerated Sales Tax Exemption Program

The Accelerated Sales Tax Exemption Program (A-Step) offers tax exemptions on a variety of costs to invest in improvements that encourage their long-term success and sustainability. Companies may apply for City and State sales tax exemption of up to $100,000 per company on the purchase, installation and maintenance of construction materials and other equipment and furnishings for projects.

Commercial Expansion Program

The Commercial Expansion Program (CEP) is a package of tax benefits designed to help qualified businesses relocate and expand in designated areas of New York City. CEP benefits may include:

  • Enhanced relocation and employment assistance
  • Industrial and commercial incentives

NYCEDC Energy Discount Programs

NYCEDC works closely with New York City Department of Small Business Services, which administers numerous energy discount programs that may help your business operate more efficiently and productively. One example is below:

  • With the Energy Cost Savings Program, the delivery component of electricity bills can be reduced by 45 percent. Furthermore, the delivery component of natural gas bills can be reduced by 35 percent.

New York State Empire Zone Benefits

Empire State Development provides a variety of assistance aimed at helping businesses, whether you are an international company looking to make a move or a small business owner wanting to access capital. We offer loans, grants and tax credits, as well as other financing and technical assistance to support businesses and encourage their growth within New York State.

Additional Information

For more information on programs for which your company may be eligible, explore NYCEDC’s Financing Incentives.