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Industrial development.

New York City Industrial Development Agency announced recently that it has created a new website. The website,, contains information on IDA's programs and services, types of organizations that qualify for IDA assistance, news releases and case his tories. The schedule for IDA public hearings and board of directors meeting can also be found on the site. In addition, the site provides a means for individuals to submit questions and request further information.

"Mayor Bloomberg is committed to strengthening the City's industrial sector, including the small to mid-sized manufacturing and distribution companies that make up a large portion of our clients, said IDA executive director Barbara Basser-Bigio. This new website is a very effective way to disseminate vital information about our programs to companies and other organizations that might benefit from IDA programs. We can often provide the assistance needed for them to continue to remain, grow and prosper in the City."

Administered by the New York City Economic Development Corporation, IDA provides financing assistance to businesses, including small to mid-sized industrial and manufacturing companies and not-for-profit organizations. IDA is a conduit agency that issues tax-exempt industrial revenue bonds to assist eligible commercial, industrial, not-for-profit and other qualified entities to finance expansion opportunities. IDA also offers qualified companies abatements on sales. real estate and mortgage taxes in connection with capital improvement projects.

In addition to industrial companies, IDA can provide financing assistance to a wide range of organizations, including commercial companies that undertake major capital/investments that result in the retention and creation of a significant number of jobs in the City. Not-for-profit organizations, such as private schools, healthcare facilities. cultural institutions, social Service providers and student and Senior housing projects, may also qualify for IDA assistance. IDA also has a program that benefits recycling facilities and facilities located on government-owned wharves and docks

In addition to the new website, two new brochures have been created to augment IDA's outreach to potential users of its programs. One describes IDA's industrial programs; the other contains relevant information on the agency's nor for-profit programs.
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Title Annotation:Technology Update; New York City Industrial Development Agency
Publication:Real Estate Weekly
Geographic Code:1USA
Date:Apr 7, 2004
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