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Senator Bruno discusses the Senate�s proposed Empire Zone expansion. |
An Empire Zone In Every County
Tuesday, February 25, 2003
In an effort to encourage additional economic growth and job creation, particularly in Upstate New York, the Senate Majority today proposed the establishment of new Empire Zones in 18 counties. The proposed expansion would enable every county in the state to take advantage of one of the most effective job creation programs in the nation.
The Senate proposal would establish a county-wide Empire Zone in 11 counties that have no zone at all, as well as in seven counties that have local zones administered by a municipality other than the county and that applied for a county-wide zone in the last round of applications, but did not receive one.
"The popularity of the Empire Zone program is so widespread that counties without zones are placed at a competitive disadvantage for attracting businesses and creating jobs," Senate Majority Leader Joseph L. Bruno said. "Our plan would put every county on equal footing by authorizing new zones for counties that do not currently have one."
Senator Bruno said that as of 2000, there were 3,572 businesses operating in the state�s 72 Empire Zones, representing an investment of more than $10 billion and employing more than 180,000 people.
In addition, the Senate will identify savings and other revenues that will enable the state to continue to pay for the administrative costs and property tax incentives of the Empire Zone program, without passing additional costs on to counties and other municipalities.
"As Chairman of the Senate Committee on Commerce, Economic Development and Small Business, I know the value of the Empire Zone program in creating new jobs," Senator James Alesi (R-C, Perinton), said. "These zones give local economic development officials the tools they need to attract new businesses and strengthen their local economies."
"In 1986, State Senate Republicans initiated the idea of creating these type of zones in New York to attract businesses and jobs, particularly to urban areas," Senator Owen H. Johnson (R-C, Babylon), Chairman of the Senate Finance Committee, said. "Since then, the program has become a statewide economic development tool that has resulted in billions of dollars in private investment."
The Senate Majority Empire Zone expansion program would establish new county-wide zones in the following counties:
> Chautauqua County, Chemung County, Delaware County, Greene County, Hamilton County, Jefferson County, Livingston County, Nassau County, Niagara County, Orange County, Putnam County, Rockland County, Schoharie County, Schuyler County, St. Lawrence County, Tompkins County, Wyoming County and Yates County.
In cases where an application had been submitted both by a county and a municipality within that county during the last round of applications, the Empire Zone designation board would choose the strongest application.
Senator Bruno pointed out that the designated zones in the Senate plan would permit unlimited, noncontiguous areas to be included in zones to enable counties to assist important smaller economic development projects on a county-wide basis. The total value of the Senate Empire Zones expansion proposal is estimated at $75.4 million in tax credits and other incentives to promote business growth and job creation.
Last year, the Senate proposed the creation of a zone for every county, as well as the expansion of every existing zone in the state. However, the Senate Empire Zone expansion plan was opposed by Assembly Speaker Silver. Eventually, the Senate won the establishment of 6 new Empire Zones, as well as the immediate designation of four new zone applications.
In 2000, the Senate successfully fought for substantial new Empire Zone incentives to attract even more new businesses and jobs. These changes included an income tax reduction credit, a refundable property tax credit, and a sales tax exemption. Businesses in Empire Zones receive a significant reduction in taxes through a wide range of tax credits on things such as wages, capital investment and property taxes.
"There are many success stories about small businesses that started in Empire Zones with 10 or 15 people and have expanded several times and doubled or tripled the number of employees," Senator Bruno said. "These are the kinds of success stories that will result from the creation of more Empire Zones."
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