The Benefits

The following is a list of the incentives and benefits available in the Empire Zone program. Click on any for a brief summary of each.

Investment Tax Credit
Employment Incentive Credit
Wage Tax Credit
QEZE Credit for Real Property Taxes
QEZE Tax Reduction Credit
Sales Tax Exemption

ZONE CAPITAL CREDITS

Zone Capital Credits are a provision of the NYS General Municipal Law Article 18-B, Section 96-4 amended in 1994. Regulations governing these credits are located in 5NYCRR Chapter II Economic Development Zones, Parts 13 and 14.

The purpose of this provision is to stimulate economic activity in an Empire Zone. The Clinton County Empire Zone (CCEZ) has a $1.5 Million allocation of New York State tax credits, including $500,000 in direct equity credits.
As an example of the power of these credits, $500,000 in direct equity credits could leverage $2,000,000 in equity investment for New York Income Taxpayers.

The following are two examples of zone capital credits. Click on either for a brief summary.

Direct Equity Investments
Community Development Projects

UTILITY RATE REDUCTIONS

Special reduced rates are offered for gas and electric services from NYSEG. The discount depends on the customer’s service classification, delivery voltage and energy use profile. The discounts are offered for a ten-year period. A business must first complete the application process for benefits in the Empire Zone program. The Zone Coordinator will then forward the approved certificate of eligibility to the utility company. At that time, the utility will review the customer’s account and personally meet with the EZ certified business to discuss the discounts available to them.