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News stories tagged with "empire-zone"

Empire Zone reform would hit North Country retail

Governor David Paterson wants a major overhaul of the controversial Empire Zone development program. Empire Zones offer tax breaks to hundreds of businesses in the North Country. But the program has been plagued for years by accusations of mismanagement and spiraling costs. As Brian Mann reports, state officials plan to scrap the benefit for retail stores and make it harder for all companies to qualify.  Go to full article

Empire Zones: companies gobble up tax breaks

New York's Empire Zone program is supposed to give companies tax breaks in exchange for creating new jobs. An investigation by the Syracuse Post-Standard newspaper has found in many cases, that's not happening. Of the ten companies that got the biggest property tax refunds in 2003, none created more than 20 jobs. Some cut positions. Still, the companies gobbled up $56 million in tax breaks. One is based in Potsdam. David Sommerstein spoke with the Post-Standard's Mike McAndrew, who co-authored the reports. He says the most egregious example is New Jersey-based NRG Energy, which owns electric generating stations in Oswego and western New York. In 2003, NRG Energy claimed $22 million in tax credits, and created one-half of one job.  Go to full article

North Country Senators Want Empire Zone Tax Relief for Adirondack Park

State senator Betty Little wants to create a vast tax relief zone for the six million-acre Adirondack Park. Empire Development zones offers incentives to growing businesses, including income tax credits and relief on property taxes. The program would affect dozens of towns and villages. Senator Little spoke with Brian Mann.  Go to full article

Empire Zones Renewed, With Safeguards

As a part of the budget, lawmakers agreed to extend one of the state's main economic development programs. The Empire Zones program gives more than 9,000 businesses tax credits to locate in New York and create jobs. There are almost a dozen Empire Zones in northern New York. The new legislation heightens reporting requirements for companies that get tax breaks. And it links benefits more closely to job creation. It extends the program until 2015. David Sommerstein spoke with North Country Assemblyman Darrel Aubertine. He says the program is designed to help distressed communities.  Go to full article
State Senator Jim Wright
State Senator Jim Wright

Agriculture Bill Passes State Senate

A bill to extend Empire Zone tax credits and incentives to agricultural cooperatives passed in the state Senate Monday. David Sommerstein reports.  Go to full article

113th Assembly District Debate: Jobs & Politics

Assembly candidates in the 113th district gathered last night for a debate in Lake Placid. The talk was mostly about jobs and strategies to revive the struggling North Country economy. This race promises to be one of the most competitive in the region - with three strong candidates on the November ballot. Brian Mann has our story.  Go to full article

Franklin County Becomes Empire Zone

Frankin County was one of the last counties in the state to be designated an Empire Zone. The new zone covers more than 1200 acres and offers tax breaks and other incentives to incoing or expanding businesses. Marth Foley reports.  Go to full article

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