Politics & Government

Mangano Urges Businesses to Apply for Tax Breaks

County Executive touts success of Nassau Empire Zones while urging state leaders to focus on job creation.

With New York State's Empire Zone program due to expire in a little more than 90 days, Nassau County Executive Ed Mangano today reminded Nassau County businesses to not waste any time and take advantage of the important tax breaks the program provides. The State's Empire Zone program's final application deadline is June 30.

"Nassau County is doing all it can to foster a climate for private sector job growth," Mangano said. "That's exactly why I'm reminding businesses that they have three months to apply for tax benefits for creating jobs, building new facilities and other making other improvements."

Although the Empire Zone program was previously scheduled to expire on June 30, 2011, the 2009-10 State Budget moved that deadline up by one year. As a result, the Empire Zone program will no longer certify new businesses for tax breaks after June 30, however, businesses certified before June 30 will retain their original 10- or 15-year benefit period.

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New York State's Empire Zone program was created to stimulate economic growth through a variety of State tax incentives designed to attract new businesses to New York and to enable existing businesses to expand and create more jobs.  Basic benefits can include tax credits per employee ranging from $1,500 to $3,000 annually for up to five years, investment tax credits of 10 percent, a 25 percent tax credit for certain investments up to $100,000 and a state sales tax refund on building materials for construction or expansion.

More than 30 Nassau County businesses have received the benefits offered by the Empire Zone program. "Nassau County is open for business," Mangano said. "Together with our Business Development Unit and the County IDA, we've helped recruit 35 businesses projecting total investment of 1,030 new jobs and $114 million in capital expenditures here in the county."

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With the looming elimination of New York's Empire Zone program, businesses and local government officials are left to wonder what is next for economic development programs in a State with one of the worst business climates in the nation.  In 2009, New York's economic outlook ranked worst in the nation by the American Legislative Exchange Council.

In Mangano's first State of the County address, he urged that New York State extend the program to give local businesses the opportunity to hire and expand.
 
"Albany needs to wake up and realize that jobs and people are leaving our state every day," Mangano said. "Without incentives for job creation, our economic outlook can only get worse. That's why I've directed my staff to review all actions the county can take to remain business friendly."


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