The New York Empowerment Zone (NYEZ), created to revitalize Upper Manhattan and the South Bronx, is an economic development initiative which uses public funds and tax incentives to encourage private investments in these areas. The NYEZ is the only corporate entity of its kind in the nation with a public investment pool of 300 million dollars equally contributed from the city, state and federal governments. The NYEZ's goal is to provide its resident with the necessary tools to revitalize their community and build new roads to economic self-sufficiency.
The Mayor's Office of the New York Empowerment Zone manages the City's interest in the Empowerment Zone (Zone) under the authority of the Deputy Mayor for Community Development and Business Services. Its mission is to work with the two local development corporations, Upper Manhattan Empowerment Zone Development Corporation (UMEZDC) and the Bronx Overall Economic Development Corporation (BOEDC to coordinate private-sector investment and to facilitate in the navigation through City government. Along with $300 million in funding, tax benefits, and available City land, many businesses will have an opportunity to help create jobs in the Zone.
This funding is being used to create incentives for you, the business owner, to help continue job growth and enhance the economic activity in Upper Manhattan and the South Bronx. These incentives include wage tax credits, Section 179 deductions and bond financing. The NYEZ also provides funding, technical assistance, and support with regards to issues such as site location, procurement, and workforce development through its following partner agencies:
The Upper Manhattan Empowerment Zone Development Corporation
The Bronx Overall Economic Development Corporation
The New York City Economic Development Corporation
The Empire State Development Corporation
New York Empowerment Zone (NYEZ) Funding to Date
EZ jobs created, retained and projected jobs created 13,034
Number of initiative approved by NYEZ Board 186
Amount of NYEZ dollars approved/disbursed 161.7/58.8 million dollars
Amount of NYEZ dollars leveraged from private support 356.4 million dollars
Welcome to the Upper Manhattan Empowerment Zone Development Corporation website. This site is dedicated to bringing you information about the work of the Empowerment Zone and about Upper Manhattan in general. We are located at 290 Lenox Avenue (at 125th Street), New York, NY 10027. We can be reached by phone at (212) 410-0030.
The Empowerment Zone seeks to revitalize distressed communities by using public funds and tax incentives as catalysts for private investment. In Upper Manhattan, five communities lie within the Empowerment Zone's borders: Central Harlem, West Harlem, East Harlem, Washington Heights and Inwood.