Incentives

Hudson Valley Economic Development Corporation works with local Industrial Development Agencies and Empire State Development Corporation to make sure your company has access to all the financial incentive opportunities that may be available to you.

Empire Zones
New York State's Empire Zones Program can make Hudson Valley virtually tax free for 10 years for qualifying businesses.  Thanks to powerful new legislation that extends the economic development incentive program until June 2011 and allows companies with "regionally significant" projects to locate outside of designated zones, the EZ program is now stronger and more flexible than ever. 

Click here for details.

Financial Assistance
New York State offers tailor-made financial incentives through direct loans, grants and interest rate subsidies to assist with:

• Acquisition of land, building, machinery and equipment.
• Construction or renovation of buildings for business.
• Infrastructure construction or improvement.
• Working capital.
• Employee training.
• Export expansion opportunities.

Tax Credits and Exemptions
A host of tax credits and exemptions are available to qualified businesses:

• Up to 10% capital investment tax credits for manufacturers.
• Up to 9% research and development tax credits.
• Up to 19% tax credits in distressed Empire Zones.
• No personal property tax and no sales tax on production equipment, R&D property and fuels and utilities used in manufacturing or R&D.

Click here for a PDF of this page.