Form IT-633: Economic Transformation and Facility Redevelopment Program Tax Credit (Tax Year 2025)

Form IT-633 is the tax credit claim form New York State businesses use to calculate and report the Economic Transformation and Facility Redevelopment Program Tax Credit. This credit exists to encourage investment and job creation in communities that lost a significant employer, typically areas affected by the closure of a correctional facility, youth facility, or a major manufacturing plant designated by Empire State Development. If your business took over or redeveloped one of these sites, or created qualified jobs in a designated area, this is the form you file with your New York State tax return to claim what you’re owed.

The New York State Department of Taxation and Finance issues this form, and it applies to corporation franchise taxpayers, personal income taxpayers, and other business entities that participate in the Economic Transformation and Facility Redevelopment Program. The credit is administered jointly with Empire State Development, which certifies eligible businesses before they can claim anything on this form. In other words, you can’t just fill out IT-633 on your own initiative — you need a certificate of eligibility from Empire State Development first, and that certification process happens outside of the tax form itself.

Who Actually Needs This Form

This form is relevant to a fairly narrow group: businesses operating in one of the state-designated economic transformation areas, usually former sites of state-run facilities that closed and displaced local employment. If you’ve received certification from Empire State Development confirming your business qualifies for the program, and you’ve met the job creation or capital investment thresholds required, you’ll use Form IT-633 to translate that certification into an actual dollar credit against your New York tax liability.

The credit itself covers several components, including a jobs credit tied to net new employment, an investment credit based on qualified capital spending, and a real property tax credit for businesses operating in the designated area. Each component has its own calculation worksheet within the form, so you’ll need your certification paperwork, payroll records, and investment documentation handy before you start filling it out.

When You File It

Form IT-633 is filed alongside your annual New York State tax return for tax year 2025 — whether that’s a corporate franchise tax return or a personal income tax return, depending on how your business is structured. If you’re a partner, shareholder, or member of a partnership, S corporation, or LLC that earned this credit, you’ll also need it to claim your allocated share on your personal filing. The credit isn’t a one-time filing either; if your certification remains active across multiple years, you’ll continue submitting this form annually for as long as you’re claiming benefits under the program.

Businesses juggling multiple New York incentive programs sometimes confuse this credit with similar job-retention incentives. If your situation involves retaining jobs rather than transforming a redevelopment site, you may actually be looking at Form IT-634 for the Empire State Jobs Retention Program Credit instead, which has its own eligibility rules and calculation method.

How to Get and Complete the Form

The official fillable PDF is available directly from the New York State Department of Taxation and Finance, and it’s built as an AcroForm, meaning you can type your figures directly into the document using standard PDF software before printing or attaching it to your e-filed return. There’s no need to print a blank copy and complete it by hand unless you prefer to.

Before entering numbers, gather your Empire State Development certificate, the specific project identification number assigned to your business, employment records showing net job increases in the qualifying area, and documentation of qualified investments made in the facility. The form walks through separate schedules for each credit component, and you’ll transfer the final combined credit amount to the appropriate line on your main New York return.

If your filing situation is more complex — say you’re managing credits across a fiduciary return or need help with e-file signature authorization for a trust or estate — resources like the guidance on Form FTB 8879-FID can be useful for understanding how signature authorization works on fiduciary filings, even though that particular form applies to California rather than New York.

Keep copies of your certification and supporting calculations for at least three years after filing, since Empire State Development and the Tax Department periodically review credit claims tied to this program. Errors in the jobs or investment calculation are common enough that double-checking your worksheet totals against your certification letter before submission is worth the extra ten minutes.