What is an Empire Zone?
An Empire Zone is a specially-designated zone within a municipality, in which significant tax incentives are available to businesses large and small. It is designed to stimulate economic growth, and to make New York more attractive than its competition.
An Empire Zone attracts companies from out-of-state, encourages start-ups, and enables businesses currently operating in New York State to remain here, expand and create more jobs. All of which give properties in an Empire Zone a distinct advantage over non-Zone properties.
The Empire Zone program came to Rockland County in July of 2005. It includes designated areas in Clarkstown, Orangetown, Ramapo and Spring Valley. Throughout all of New York State, there are more than 9,500 Certified businesses in Empire Zones, employing over 380,000 people, and enjoying major tax advantages.
Where, exactly, are Rockland’s Empire Zone locations?
The following maps show the various Empire Zone areas within Rockland County.
1. General Empire Zone Map
2 Detailed maps of Zone locations in:
Who can qualify for Empire Zone benefits?
Zone benefits are tied to job creation and investment, not to company size. In fact, most of the businesses that enter the program have less than 20 employees at the time of Certification. And regardless of whether a business owns or rents, there are a variety of Zone-related tax incentives available to them.
Can Landlords profit from the Empire Zone?
If you own real estate in Rockland’s new Empire Zone, your property will prove to be more in demand than ever before. And increased demand translates into higher land values and higher rents.
How can I learn more?
Call Smith Properties for an appointment to discuss the options available for your particular property or situation. Ask for our Broker, Chuck Smith, at (845) 353-6835. For generalized Empire Zone reading material, please click on the following link:
