The Impact of Local Law 97 on Small Businesses in New York City

Posted on 28 April, 2023 by The Cotcon Group

Local Law 97 is a piece of legislation in New York City that sets emissions limits on buildings over a certain size in order to reduce the city's carbon footprint. This law will have a significant impact on small businesses in the city, both positive and negative. On the positive side, it will incentivize small businesses to invest in energy-efficient upgrades, which can lead to long-term cost savings on energy bills. However, it may also increase operating costs for small businesses that are unable to meet the emissions limits and may lead to increased rental costs for tenants in affected buildings. The full impact of Local Law 97 on small businesses in New York City will become clearer as the law is phased in over time.