Analyst - Incentives
Our Vision: To make New York City the global model for inclusive innovation and economic growth, fueled by the City’s diverse people and businesses.
Our Mission: Creating a vibrant, inclusive, and globally competitive economy for all New Yorkers.
POSITION OVERVIEW:
The Strategic Investments Group (“SIG”) creates and structures impact investments to drive inclusive economic development by enhancing access to capital, mobilizing private investment and supporting the acceleration of EDC initiatives and strategic projects. To realize the vision of equitable, sustainable prosperity, SIG structures and implements impact investments utilizing an array of financing solutions. SIG’s impact investment toolkit includes incentives, such as discretionary tax benefits, tax-exempt bond financing, and tax credits, as well as the deployment of catalytic investment capital.
SIG manages several programs to facilitate the creation of quality jobs across all five boroughs of New York City, including but not limited to:
- New York City Industrial Development Agency (NYCIDA) negotiates discretionary tax incentives on behalf of the City for job-generating commercial, industrial and food retail real estate projects.
- Build NYC Resource Corporation (Build NYC) is a bond issuing authority for tax-exempt financing for 501(c)(3) organizations and exempt facility projects.
- NYC Neighborhood Capital Corporation (NYCNCC) secures and deploys New Markets Tax Credits to catalyze projects in underserved areas.
- Funds & Advisory (F&A) originates, structures and manages multiple fund vehicles that make loans and equity investments that deliver financial, social and environmental outcomes. Additionally, F&A advises internal and external partners on the creation of financing structures that address policy outcomes.
These collective tools seek to provide much-needed investment and services to underserved areas, to generate high quality/accessible jobs, and to leverage billions of dollars of public and private sector investment.
The Analyst - Incentives will primarily work on the NYCIDA, Build NYC, and NYCNCC programs (collectively known as NYCEDC’s “incentives portfolio”). They will support senior team members in the execution of incentive transactions, including tax incentives, bond financing, NMTC financing, and other development finance tools. This role is ideal for someone early in their career who is eager to build foundational experience in economic development and public sector finance by assisting with project due diligence, research, and coordination efforts.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Develop a working knowledge of tax incentive and tax-exempt bond financing programs that are available through NYCIDA, Build NYC, and NYCNCC, respectively
- Support senior staff in managing incentive transactions from origination through closing
- Assist with the review of applications for financial assistance from for-profit and not-for-profit clients, including organizing supporting documentation and helping to coordinate due diligence processes, including environmental reviews, legal evaluations, financial analyses and background checks
- Plan and participate in project site visits
- Prepare written summaries, memos and presentation materials to support project recommendations, internal meetings, and external communications
- Track project and portfolio progress, maintain internal databases, and ensure documentation is complete and accurate
- Organize and collect key project and program data for internal tracking, analysis, and reporting
- Pull data from internal and external sources to respond to information requests and support policy analysis
- Support the creation and updating of maps and visualizations to inform decision-making and external engagement
- Assist with updating marketing materials, slide decks, program overviews, and other external facing collateral
- Support outreach and education efforts to inform other organizations - including start-ups, not-for-profits, developers, CDFIs, PE/VC, investment banks, consultants, industry associations/business groups, civic and community stakeholders and other agencies - about available incentives and programs
- Assist in the design and administration of new financial assistance programs by gathering data, researching best practices, and helping prepare supporting materials
- Contribute to ad-hoc research and analysis in support of strategic initiatives and new program development
- Coordinate with colleagues across NYCEDC and with external stakeholders as needed
- Perform other duties and special projects as assigned
QUALIFICATIONS:
- Undergraduate degree required
- 0 to 2 years of relevant experience (finance, real estate, public policy, urban planning, City or State government)
- Proficient with spreadsheets and presentation applications, including Excel and PowerPoint Familiarity with databases such as CoStar. and experience creating budgets or financial statements is a plus
- Detail-oriented with a focus on execution
- Strong written and verbal communication skills, including public speaking
- Ability to prioritize competing needs and opportunities
- Demonstrated ability to work in a team-based environment as well as working independently
- Preference for candidates with demonstrated interest or experience in New York City, economic development, real estate or public policy issues
- New York City residence is required within 180 days of hire
Salary Range
$67,000 - $69,000 USD
About Us: New York City Economic Development Corporation is a mission-driven, nonprofit organization that works for a vibrant, inclusive, and globally competitive economy for all New Yorkers. We take a comprehensive approach, through four main strategies: strengthen confidence in NYC as a great place to do business; grow innovative sectors, with a focus on equity; build neighborhoods as places to live, learn, work, and play; and deliver sustainable infrastructure for communities and the city’s future economy.
NYCEDC is committed to offering competitive benefits to support employee health, happiness, and work-life balance. We offer comprehensive benefits and unique perks to ensure NYCEDC employees flourish in their professional and personal lives:
- Generous employer subsidized health insurance
- Medical, dental, and pharmacy plans
- Vision and hearing benefits
- Flexible spending accounts for healthcare and dependent care
- Short term and long-term disability coverage
- 100% employer covered life insurance and supplemental life insurance coverage
- Up to 25 vacation days
- Floating Holidays and Summer Fridays
- Parental leave - up to 20 paid weeks
- Retirement savings programs
- Company-paid 401(a) defined contribution plan
- 457(b) tax-advantaged retirement savings plan
- Tuition Reimbursement program
- Continuing education and professional development
- Public Service Loan Forgiveness (PSLF) eligible employer
- College savings plan
- Backup childcare
- Gym membership discounts
- A Calm.com membership for mindfulness and mental health support
- Employee discounts through Plum Benefits and much more
Benefits listed above may vary based on the length and nature of your employment with New York City Economic Development Corporation. These benefits are subject to be modified at any time, at the discretion of the organization.
The New York City Economic Development Corporation is an Equal Opportunity Employer. Our Diversity, Equity, and Social Responsibility Mission is to create a People First strategy by attracting, retaining, and engaging a diverse and talented workforce. Like the city of New York, NYCEDC knows our strength comes from each of our connected parts, making the fabric of our organization better and stronger because of our unique employees' talents.
For more information, visit our website at edc.nyc.
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