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 the Brooklyn Army Terminal and can help determine if your company qualifies for valuable programs, including tax-exempt financing, employee recruitment and training services, and other business resources.

No Real Estate Tax

The Brooklyn Army Terminal is owned by the City of New York and currently exempt from real estate taxes. Save money by making the Brooklyn Army Terminal your business’s home.

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.

For example, the Brooklyn Army Terminal tenants are eligible for the Energy Cost Savings Program. Through this 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.

Relocation and Employment Assistance Program

The Relocation and Employment Assistance Program (REAP) offers business income tax credits for relocating jobs from outside of New York City or below 96th Street in Manhattan to designated locations above 96th Street in Manhattan or in one of the other four boroughs. Through this program, your business can receive:

    • An annual credit of $3,000 per eligible employee for 12 years
    • An annual credit of $1,000 per share for relocating to parts of the eligible area

Read more details at the NYC Department of Finance.

New York State Empire Zone Benefits

Empire State Development provides a variety of help to businesses, whether you are an international company considering a move to New York or a small business owner wanting to access capital. It offers loans, grants, tax credits, and 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.