Will help businesses obtain tax credits
Sen. Kirsten Gillibrand's office
After touring the New Lab high-tech design space and the Crye Precision military manufacturing facility at the Brooklyn Navy Yard, U.S. Senator Kirsten Gillibrand (D-N.Y.) announced her support for the Brooklyn Navy Yard to be placed on the National Register of Historic Places.
This federal distinction would allow Navy Yard businesses access to historic tax credits to help invest in these industries, which have helped generate more than 6,400 jobs.
Gillibrand also pointed out that the federal status would help preserve the Brooklyn Navy Yard’s historic architecture and encourage private sector investment.
Once New York state approves the Navy Yard’s request, the petition will head to the National Park Service. The Navy Yard and its tenants have already applied for federal historic tax credits to help fund the construction of several job-creating, adaptive-reuse projects, including the Green Manufacturing Center that will soon house both New Lab and Crye Precision.
The Navy Yard must first be listed on the National Register in order to access this vital funding source.
“The deep history and cultural significance of the Brooklyn Navy Yard is indisputable,” said Senator Gillibrand. “The Navy Yard is now home to an innovative high-tech manufacturing hub. This historic status would help protect one of the country’s most storied naval districts, while also encouraging investment in the careful rehabilitation and re-use of its historic structures.”
“The Brooklyn Navy Yard is fostering the next wave of high-tech, green manufacturers, but there’s still more work ahead to encourage the growth of this industrial sector in New York City,” said Brooklyn Navy Yard Development Corporation Chairman Alan Fishman. “By advocating for the Brooklyn Navy Yard’s placement on the National Register of Historic Places, Senator Gillibrand is helping small businesses get the tools and assistance they need to succeed in Brooklyn.”