1,500 SF Business
Incentive Case Study
Business Incentive Case Study: Technology company relocates 5 employees from Manhattan to Long Island City and leases 1,500 SF.
Company plans to add 5 employees over next 5 years.*
* Assumes: 10 year lease for commercial office activity with $40 psf base rent, $3 psf electric, and $45 psf build-out
** ECSP is a 12 year program that starts to phase out year 9. Remaining benefits for years 11 and 12 are estimated to be $270
*** REAP is a 12 year program that has remaining benefits for years 11 and 12 estimated to be $60,000
3,000 SF Business
Incentive Case Study
Business Incentive Case Study: Technology company relocates 10 employees from Manhattan to Long Island City and leases 3,000 SF.
Company plans to add 10 employees over next 5 years.*
* Assumes: 10 year lease for commercial office activity with $40 psf base rent, $3 psf electric, and $45 psf build-out
** ECSP is a 12 year program that starts to phase out year 9. Remaining benefits for years 11 and 12 are estimated to be $540
*** REAP is a 12 year program that has remaining benefits for years 11 and 12 estimated to be $120,000
15,000 SF Business
Incentive Case Study
Business Incentive Case Study: Technology company relocates 70 employees from Manhattan to Long Island City and leases 14,000 SF.
Company plans to add 30 employees over next 5 years.*
* Assumes: 10 year lease for commercial office activity with $40 psf base rent, $3 psf electric, and $45 psf build-out
** ECSP is a 12 year program that starts to phase out year 9. Remaining benefits for years 11 and 12 are estimated to be $2,520
*** REAP is a 12 year program that has remaining benefits for years 11 and 12 estimated to be $600,000