Senator Thomas P. Morahan, Governor Pataki, Senate Majority Leader Bruno and Assembly Speaker Silver today announced the creation of an Empire Zone in Rockland County.
"The addition of a new Zone in Rockland will help to spur more investment and create and save jobs for hardworking Rocklanders. It is my hope that this designation will facilitate the kind of investments and job-creating activities that will lead to significant and sustained growth and prosperity," said Senator Morahan.
The Empire Zone program was created to stimulate economic growth through a variety of tax incentives, helping to attract new businesses to New York and enable existing businesses to expand and create more jobs.
Empire Zone certified businesses enjoy:
Wage tax credits for new hires
Investment tax credits for qualified investments
Enhanced real property tax abatement programs
Exemption of sales tax on purchase of property or services
Tax credit for business taxes paid
Preferred low cost utility rates
Fee waivers for planning and development permits
Today, there are over 9,800 certified businesses employing more than 380,000 people in 76 Empire Zones statewide.