State, County And Town Announce Empire Zone In Nassau County
“The Empire Zone program has proven to be an excellent tool for creating and maintaining jobs across New York State and will be an important economic development tool for Nassau County as well,” said Senator Michael Balboni.
“The establishment of a Senate initiated Empire Zone in Nassau County will provide great opportunities for new jobs, business expansion and a boost for local economic development,” said Senator Charles J. Fuschillo, Jr.
Empire State Development Chairman Charles A. Gargano said, “The Empire Zone program is a perfect example of one of the policies and strategies that Governor Pataki has implemented to help New York State grow. Opportunities and jobs are being created, and businesses and our economy are seeing the positive impact of the Zones program.”
To ensure the designation of an Empire Zone within Nassau County, Nassau’s State Senate delegation partnered with County Executive Suozzi and Town Supervisor Murray to develop a new application submitted jointly by Nassau County and the Town of Hempstead. As a result, the Empire Zone’s two-square miles of acreage will be divided among the following communities: Bethpage (at the former Grumman site), Glen Cove, Elmont, Inwood, New Cassel, Roosevelt, Uniondale, West Hempstead and the villages of Freeport and Hempstead.
“The creation of the Empire Zone supports the vision of New Suburbia in Nassau County,” said Nassau County Executive Thomas Suozzi. “To revitalize our aging suburban communities, we need to attract new businesses and provide for expanded job opportunities. We have worked in bipartisan cooperation to obtain this designation. My thanks to Senator Skelos and the members of our State Senate delegation for this important economic achievement for Nassau County and its residents.”
“I want to thank Senator Dean Skelos and the entire Senate delegation for promoting Hempstead Town's inclusion in an Empire Zone,” said Hempstead Town Supervisor Kate Murray. “The Town is enthusiastic about helping businesses to grow and prosper in communities that are confronting economic challenges. Designating our neighborhoods as part of a Zone will provide valuable economic stimulation, create jobs and offer genuine opportunities for our residents.”
“Empire Zones have proven to be an effective tool for rejuvenating local economies. The approval of an Empire Zone in Nassau County will spark new investment and attract vital new business to the area,” said Oyster Bay Supervisor John Venditto.
The Empire Zone program utilizes a variety of tax incentives to stimulate economic growth and job creation. Businesses that create new jobs within an Empire Zone are eligible for sales tax exemptions, real property tax credits, wage tax credits and utility rate reductions that enable it to operate almost “tax-free” for up to 10 years, with additional savings available on a declining basis in years 11 through 15. Statewide, more than 300,000 people are employed by 9,500 businesses operating within 72 Empire Zones.