These Empire Zones, or economic development zones, are designated areas throughout the state that provide special incentives to encourage business development, investment, and job creation. Certified businesses located within a zone are eligible to receive tax reduction credits, credit for real property taxes, and sales tax exemptions.
Additional benefits include a wage tax credit, investment tax and employment incentives credit, and possible utility rate savings.
An Empire Zone map and a list of zone coordinators are available from the state. For more information, contact 800-782-8369; www.nylovesbiz.com (website).
Publication date: 11/26/2001