Film in NY gets a whopping $359 million in economic incentives, exceeding many state's overall budget for incentives. This is a far second to NY's leading industry, however; Manufacturing pulls in over $800M alone in incentive dollars. The overall budget for economic incentives is $4.06 billion as of 2018 data, or 7 cents on the budget dollar. The state allocates almost $2B via corporate income tax credits and another $1B via property tax abatement programs. The state puts a good deal into industrial development and enterprise zones known as "Empire" zones.
Subcity empowers small businesses, CPAs, and finance professionals to identify and apply for economic incentives and tax credits. Each year, over $100 billion is allocated for incentives across local, state, and federal programs in the U.S. Unfortunately, a significant portion of this money goes unclaimed or to large corporations with teams of tax attorneys and legal experts.
Subcity utilizes a comprehensive database of incentives to connect small businesses with the programs that were designed to help them create jobs, invest in their communities, and grow their business. Subcity charges a 10-20% fee for the programs they successfully secure, ensuring zero risk for clients as payment is contingent on results. Subcity is on a mission to democratize access to capital for America’s small businesses and has already delivered tens of millions of dollars in tax incentives for clients across the country.