Editor:
Scott Gottlieb, CPA
Assistant editor: Susan A. Maffetone, CPA
Small
Firm Attraction and Retention Grants
(This
information is from the New York City Business Web
Site http://www.newyorkbiz.com/WorldTradeCenter/GrantsInfo/RetentionGrants.html)
This
grant is administered by the Empire State Development Corporation
(ESDC) in coordination with the New York City Economic Development
Corporation (EDC) on behalf of the State of New York. This
program is funded by an appropriation from the US Department
of Housing and Urban Development. Please note: This program
has been been expanded to include firms with less than 10
employees. Applications for those firms will be available
soon.
*
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This program was set up to help retain and create jobs in
New York City by assisting businesses that employ 10 to 200
individuals.
ESDC/EDC will provide two payments of $1,750 or $2,500 per
employee based on the company’s location and a completed
application as follows:
Businesses operating in the Restricted Zone on 9/11/01 within
which all pedestrian traffic was prohibited on 9/19/01 will
receive $2,500 per employee upon approval of the application.
A second payment of $2,500 per employee will be made 18 months
later based on the company’s employment at that time.
In
the event that firms located in the Restricted Zone prior
to 9/11/01 relocate outside the eligible area but remain within
New York City, ESDC/EDC will provide two payments of $1,750
per employee in the same manner as described above.
Businesses operating in the eligible area (outside of the
Restricted Zone) will receive two payments of $1,750 per employee.
The first payment will be made upon approval of the application
and a second payment of $1,750 per employee will be made 18
months later based on the company’s employment at that
time.
Eligible Companies:
- Small
Firms that commit to locate South of Canal Street for at
least 5 years.
-
Small Firms that were located in or near the WTC who commit
to stay downtown for at least 5 years.
-
Small Firms that were located in or near the WTC who commit
to stay in NYC for at least 5 years.
Eligibility:
-
The Company must have a current lease expiring no later
than 12/31/04, have been located in the Restricted Zone
which was in operation until 10/23/01, be commencing operations
in Lower Manhattan, or be relocating into Lower Manhattan.
-
The company must sign a new lease or renew an existing lease
for a minimum of five years beyond the current commitment.
-
The new lease must be signed not earlier than 9/11/01 and
not later than 12/31/04.
-
Following signing or renewal of the lease, the company must
employ at least 10 employees and not more than 200 employees
in an establishment in the eligible area.
-
The new lease is for space located within the area on the
south side of the line beginning at the intersection of
the Hudson River with the Holland Tunnel, and running east
to Canal Street, then running along the centerline of Canal
Street to the intersection with Rutgers Street and running
along the centerline of Rutgers Street to the East River.
Applications for companies with 10 and 200 employees are
available at the Business Recovery Walk-In Centers located
at 2 Rector Street or 140 William Street in Lower Manhattan
or by accessing www.nylovessmallbiz.com
or www.newyorkbiz.com.
Questions about the Grant Program or the application process
may be e-mailed to WTCGrantProgram@empire.state.ny.us
or directed to the ESDC hotline 800-ILOVENY (800-456-8369)
or the EDC hotline 866-227-0458.
