Empire Zone Benefits
New York State provides some of the most attractive development incentives in all of North America within special areas designated as Empire Zones - and we are pleased to report that Plattsburgh International Airport is one of these zones!

Empire Zones are designed to offer a number of state-funded incentives for businesses, including the following:

Tax Reduction Credit
This credit is computed by a formula based on the number of jobs created, the company's assets in the zone and in the State and the income taxes owed by the company. This tax credit may reduce the company's New York State tax liability to zero.

Real Property Tax Credit
This credit is computed using a formula based on the number of jobs created and the real property taxes paid on property in the zone. Unused credits may be taken as a cash refund in the year in which they are earned.

Wage Tax Credit
The Empire Zone offers a five-year wage tax credit. A new company locating within a zone may claim a $1,500 credit for each non-targeted employee and a $3,000 credit for each targeted employee who is paid at least 135% of the minimum wage.

Zone Capital Tax Credit
The Zone Capital Tax Credit offers investors purchasing original issue capital stock in a certified zone business a 25% tax credit on that investment. A business within the zone can receive a tax credit of 25% for any qualified investments made toward the business.

Investment Tax Credit
The Investment Tax Credit offers a 10% tax credit based on investments in tangible property.

Sales Tax Exemption
This exemption eliminates the 4.25% New York State sales tax for tangible personal property and services sold to a qualified business within a zone.

Discounted Utility Rates
New York State Electric & Gas, which serves Plattsburgh International Airport, offers Empire Zone discounts. (In addition, the Plattsburgh-North Country Chamber of Commerce offers additional potential cost savings on electricity and gas through the North Country Energy Alliance).

Financial Assistance
For a business locating in a zone, there are a number of potential loans available through local, state and federal programs such as the Statewide Zone Capital Corporation.

Job Training
For businesses locating in a zone, wages can be subsidized during the initial training period or a company may receive state funds to help defray the cost of sending employees to training programs.

Each of these benefits has criteria for eligibility, of course, but dozens of companies now located on the former Plattsburgh Air Force Base are already enjoying substantial benefits from the Empire Zone program. We are ready and anxious to help explore how these incentives might assist in your future business plans.