NEW CITY – Town of Clarkstown Supervisor Alex Gromack is calling on Governor David Paterson and State leaders to extend the Empire Zone program and the Investment Tax Credit, both of which are set to expire in June. 

“The Governor and Legislature must act now to ensure this critical program is kept in place for businesses that bring jobs and tax stabilization to Clarkstown and Rockland,” said Gromack.  “To allow these programs to expire is irresponsible.”

According to the New York State Empire State Development Corporation, Empire Zones were created to stimulate economic growth through a variety of tax incentives designed to attract new businesses to New York and to enable existing businesses to expand. Currently the enhanced Investment Tax Credit (ITC) is available to manufacturers under the Empire Zone program for production equipment related to the manufacture of product at the zone location. The state’s Tax and Finance Department has said that the ITC will no longer be available to certified businesses after the Empire Zone program sunsets in June. These businesses were promised this incentive when they made their investment, Gromack said.  

“This is a downgrade of incentives,” he said. “Most concerning is that it may force those who planned to expand or move to New York, to change their plans. In these difficult economic times, we should be promoting a business friendly environment, not taking away the very incentives businesses seek that make New York attractive.”