REAP offers annual business income tax credits of up to $3,000 per relocated employee and new subsequent jobs. The credit is renewable for twelve years, and is refundable as a cash grant for the first five years of participation in the program if the benefit exceeds tax liability.
Industrial and commercial businesses, excluding retail and hotels, that relocate at least one employee from outside NYC or from Manhattan (south of 96th Street) to other areas of the city including Downtown Brooklyn. Property improvement expenditure criteria must be met.
NYC Department of Finance (DOF)