Economic Development Services
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Tax Incentives for Capital Investment Projects

Payment in Lieu of Tax Agreements

  • Traditional PILOT: 25-32% estimated tax savings over 10-year period
  • Green PILOT: Additional real estate tax exemption based on the level of LEED certification. 

Excelsior Program

Empire State Development's Excelsior Jobs Program provides job creation and investment incentives to firms in such targeted industries as biotechnology, pharmaceutical, high-tech, clean and renewable technology, financial services, agriculture and manufacturing. Firms in these strategic industries that create and maintain new jobs or make significant financial investment will be eligible for up to four new tax credits. For more information, please click here.

Sales Tax Exemption

Sales tax exemptions are available for the purchase of machinery, materials, and equipment for a project that otherwise qualifies for Industrial Development Agency benefits.

Mortgage Recording Tax  Exemption

A mortgage recording tax exemption is available to projects that otherwise qualify for Industrial Development Agency Benefits