NYCEDC is committed to strengthen its manufacturing base by accelerating the emergence of early stage companies using or developing advanced technologies. This program is aimed at supporting the growth of promising companies in New York City and at better understanding the particular challenges faced by early stage companies in the advanced manufacturing space.
The Program will provide selected companies up to $30,000 of funding over a two-year period to finance their growth in New York City. The financing will be delivered in three phases. The largest share of the funding will be distributed at the beginning of the program; the outstanding funding will be disbursed in two payments respectively after 12 and 18 months. The Program will also facilitate the companies’ access to apply for sales tax exemptions through IDA’s Accelerated Sales Tax Exemption Program, to reduce the cost of purchasing equipment over the same time period. Applications are due on December 14, 2015.
For additional information, please email Futureworksnycgrowth@edc.nyc