|
CONTACT: BONNIE TURNER
(585) 334-5210
EMPIRE ZONE
WILL BENEFIT ALL
Western New York scored a collective
victory last week: an Empire Zone was established in Livingston County.
After years of fighting in the state Capitol, I was able to help broker the
deal that secured Livingston County’s place in economic development and
growth.
This is a much-deserved sign of relief for business
owners in the county. Not only will existing businesses be able to expand
with the new designation, but new business owners will see just how
lucrative the economic climate is here in Livingston County.
This also means economic development is a top priority
in our region. Today’s marketplace is extremely competitive, and we owe it
to New York’s businesses to give them every advantage and chance to succeed.
That is where Empire Zones come into play.
There are many benefits for individuals who locate
their businesses in the Livingston County Empire Zone, including sales tax
exemptions, and real property and business tax credits.
The Empire Zones program was established to give
companies that create or increase employment in the districts opportunities
to operate on a near “tax-free” basis for up to 10 years. Additional savings
are available on a declining basis in years 11 through 15.
I’m confident an Empire Zone will keep Livingston
County on the cutting edge and a strong competitor for luring potential
businesses.
-30-
|