World Trade Center Job Creation & Retention Program (JCRP)

Program Purpose
The World Trade Center Job Creation & Retention Program (JCRP) encourages companies to commit to creating a minimum of 75 new jobs in Lower Manhattan or retaining at least 200 Lower Manhattan jobs.

 

Program Highlights
JCRP offers discretionary HUD-funded grants that are based on the number of new or retained full-time jobs, the project’s fiscal and economic impact and an assessment of the need for grant funds to move the project ahead in Lower Manhattan.

 

Eligibility

·         Companies that attract at least 200 or project creating at least 75 full-time permanent jobs in Lower Manhattan (south of Canal Street) that are also new to New York City within 4 years (half of the jobs are to be created within two years).

·         Companies that have not yet made a commitment to locate the new jobs in Lower Manhattan.

·         Companies that will maintain the new jobs in Lower Manhattan for at least 10 years (failure to do so during the commitment term will subject the company to a recapture of grant funds).

·         Companies that request a JCRP offer of assistance by December 31, 2015.

 

Eligibility Conditions

  • Only companies that have not yet made a long-term commitment where to locate its New York City workforce will receive an offer of JCRP grant assistance.
  • Companies will be requested to provide compelling information to support their job projections.
  • Grantees are required to achieve a two-year job creation milestone to remain eligible to receive grant funds based on four-year growth projections.
  • Companies are required to provide annual employment reports to Empire State Development (ESD) for the duration of grant term.
     
    Note: As a discretionary program, eligibility does not guarantee that an incentive offer will be extended.

 

Application Process
Interested companies are requested to complete the Preliminary Assessment Form. Upon review of the Preliminary Assessment Form, ESD and New York City Economic Development Corporation (EDC) will conduct an initial consultation with the company to determine eligibility. Eligible companies will then submit project information to ESD and EDC for review.  An incentive grant offer with terms and conditions will be issued upon approval. 
 
Companies accepting grant offers may apply to ESD for a disbursement of grant funds after achieving the incentive grant offer’s terms and conditions.  Approved companies will enter into a binding grant agreement with ESD and will receive grant funds, which may be applied against wages, health benefits, rent, movable equipment and furniture.
 
To request a JCRP grant offer, please complete the Preliminary Assessment Form and either submit it via email or fax at (212) 803-3131. 


Contact Information
For additional information, please contact the Program Administrator at (212) 803-3133.