State Assemblyman Bill Reilich (R,C,I-Greece) said today that he supports renewing the Empire Zone program in the 2005-06 state budget. The Empire Zone program is one of New York’s most effective job development resources.
According to Reilich a business could qualify to become tax-free if it is located in one of New York State's 72 Empire Zones. Empire Zones (EZs) are designated areas throughout the State that offer special incentives to encourage economic and community development, business investment and job creation. Certified businesses located within an EZ are eligible to receive significant tax credits and benefits.
Reilich noted that the Empire Zone program has created more than 71,000 jobs since its inception. The program is to expire at the end of March unless it is extended as part of the state budget for the new fiscal year beginning April 1.
Reilich stated that Empire Zones provide business-friendly combinations of tax reductions, energy savings and other incentives to encourage businesses to expand or locate in designated areas of New York. The program has benefited many communities across the state through job creation.
"I support the Empire Zone program which has been an important part of Gov. George Pataki’s efforts to cut taxes, create new jobs and enhance the state’s economic climate," Reilich said.