Downtown Alliance Launches Online Financial Incentives Calculator for Lower Manhattan Businesses

08/15/2011
Downtown Alliance Launches Online Financial Incentives Calculator for Lower Manhattan Businesses

The Alliance for Downtown New York today launched an online Incentives Calculator to assist existing and potential Lower Manhattan commercial tenants in determining the level of savings which may be available to them. Generous financial incentives make Lower Manhattan's office space even more affordable and attractive as a place to do business in New York City.

Several city and state programs offer tax abatements and discounts on energy savings to businesses considering a move. Based on several pieces of information such as number of employees and cost of leasehold improvements, the online calculator tool can instantly estimate the level of potential savings for the firm. The Incentives Calculator can also compare potential savings between Midtown and Lower Manhattan business districts. The calculator can be accessed on the Downtown Alliance website at www.downtownny.com/incentives-calculator.

Because of the significant level of financial incentives available to Lower Manhattan commercial tenants, Lower Manhattan has maintained one of the lowest vacancy rates among business districts nationwide with a current rate of 9.7% and is expected to keep declining. For more information on these incentive programs, visit http://www.downtownny.com/grow-your-business/leasing-and-financial-incentives.

Recently the Downtown Alliance issued a comprehensive report which provides a detailed review of Lower Manhattan’s remarkable economic and demographic changes since the devastating September 11th attacks a decade ago. The State of Lower Manhattan report is part of the extensive market research compiled by the Downtown Alliance. The report can be downloaded at http://www.downtownny.com/solm.