New York City is a vibrant metropolis made up of over 200 unique neighborhoods, many of which are served by local economic development organizations that invest in commercial revitalization and business development.
Business Improvement Districts: Boosting Local Businesses
NYC’s Business Improvement Districts are the heartbeat of local commerce. It is a geographical area where local stakeholders oversee and fund maintenance, improvement, and promotion of their commercial district. The 76 BIDs across the five boroughs transform neighborhoods into thriving hubs of innovation.
Services BIDs provide include:
- Capital improvements
- Public programming
- Public safety and hospitality
- Street cleaning and maintenance
- Beautification
- Business development
Industrial Business Zones: Powering NYC’s Industry
NYC’s Industrial Business Zones fuel the city’s industrial sector, providing a haven for the growth of industrial and manufacturing businesses. Since their establishment in 2006, the 21 IBZ’s provide a special designation to high performing business districts by creating competitive advantages.
Services IBZs provide include:
- Tax credits
- Funding programs
- Strategic locations
- Business Development
To learn more about how a local economic development organization can help your business thrive in NYC, contact our team.