|

return
to top
|
- QEZE
Sales Tax Exemptions: Qualified Empire
Zone Enterprises (QEZEs) are granted a 10-year exemption
from State sales tax on purchases of goods and services
(including utility services) used predominantly in an Empire
Zone.
- QEZE
Credit for Real Property Taxes: Qualified Empire
Zone Enterprises are allowed a refundable credit against
business or income tax equal to a percentage of real property
taxes paid in the zone.
- QEZE
Tax Reduction Credit: Qualified Empire Zone Enterprises
are allowed a credit against business or income tax equal
to a percentage of taxes attributable to the zone enterprise.
- EZ
Wage Tax Credit: This credit is available for
up to five consecutive years for companies hiring full-time
employees in newly created jobs. For employees in special
targeted groups, this credit equals $3,000 per year, with
a credit of $1,500 per year for all other new hires.
- EZ
Investment Tax and Employment Incentive Credits:
Businesses that create new jobs and make new investments
in production, property and equipment may qualify for tax
credits of up to 19% of the company's eligible investment.
- New
Business Refund: Businesses new to New York State
are entitled to a 50% cash refund of unused EZ-WTC and ITC
amounts. Other businesses may carry forward unused credits
indefinitely.
- Utility
Rate Savings: Special reduced electric and gas
rates may be available through investor-owned utilities
in New York State. Businesses that locate or expand their
operations in an EZ may receive significantly reduced rates.
- Zone
Capital Credit: A 25% tax credit against personal
or corporate income taxes is available for contributing
or purchasing shares in a zone capital corporation; or for
a direct equity investment in a certified zone business;
or for contributions to approved community development projects
within an EZ.
- Sales
Tax Refund or Credit: Purchases of building materials
to be used for commercial or industrial real property located
in an EZ are eligible for a refund or credit of NYS sales
taxes. A similar refund or credit of local sales tax may
also be available from the locality.
- Real
Property Tax Abatement: EZs may offer tax abatements
from an increased assessment, with the abatement value based
on improvements to real property for up to 10 years. This
holds true for up to seven years at 100%, decreasing over
the last three years of the exemption.
- Special
Low-Interest Loans and Priority Attention: State
agencies that have a role in economic development have special
programs and services targeted to Empire Zones and will
expedite applications received from zone businesses.
Qualifications
for some of the Empire Zone Program incentives listed above
are based on business structure, job creation factors, company
assets, wage compensation ratios, and corporate tax structure.
It is important that you discuss your specific business with
Potsdam Development Office staff in order to assess what benefits
you may be eligible for. For
more detailed information about the Empire Zone Program, visit
Empire
State Development.
|
|
return
to top
|
Wired
Buildings
Once
dependent solely upon the University's T3 lines, organizations
in the Downtown Campus Business Center are now able to tap into
high-speed internet and telephony as the result of a 2002/2003
project funded by the New York State Wired Buildings program
and installed by Slic Network Solutions. The new fiber optic
loop provides high-speed connectivity to all of the Business
Center buildings.
The
Wired Buildings program, which was first outlined by Governor
Pataki in his 2000 State of the State Address, helps developers
outfit existing buildings to accommodate the needs of small
Information Technology (IT) companies. Administered by Empire
State Development, the Wired Buildings program was established
to increase the availability of affordable, "wired" workspace
required by small IT businesses, such as those developing e-commerce
applications, offering online services, or engaged in software
research and development - as well as for those businesses that
require connectivity in order to grow their business competitively.
Connected
with 4,400 feet of fiber optic cabling, the fiber loop connects
end-user networks inside each of the buildings to high-speed
data network and Internet service options. Business Center tenants
have access to telecommunications service options - superior
to anywhere else in the region. Slic offers business class broadband
Internet, point-to-point connectivity, guaranteed service level
agreements, web hosting, domain email, virus scanning and SPAM
filtering. Packages are available to meet your business' specific
connection needs. Housed on campus, Slic Network Solutions'
technical personnel are available for on-site consultations,
installation and on-going maintenance. The installation of the
fiber optic loop was completed through the cooperative efforts
of Clarkson University personnel and Slic Network Solutions
to provide businesses locating in the downtown campus buildings
with the infrastructure necessary for business growth.
Since
shifting the university's operations to the Hill Campus, Clarkson
has been marketing the buildings located in the Downtown Campus
Business Center to potential tenants for commercial development.
The occupied space in Lewis House, Clarkson Hall, and Peyton
Hall, which house the critical business operations for Slic.com's
growing Internet support center, Sunmount Developmental Services,
Canton-Potsdam Hospital's Physical Rehabilitation Services,
Clarkson's Physical Therapy program and multiple small business
operations - is evidence of this development. Currently, the
three buildings house more than 170 employees.
The
availability of high-speed Internet access is considered to
be a key component in marketing any building to a potential
business. CITEC - Manufacturing & Technology Solutions, working
with Clarkson in the redevelopment of the downtown campus buildings,
points to the interest of tenants in having cost-effective,
quality business space to expand, or develop, a business. But,
without the high-speed network, a critical component of promoting
the offices would be missing.
|
|
return
to top
|
Economic
Development Assistance
A
number of local, county, regional and State programs are available
to help your new or expanding business with technical assistance
and funding needs. Some of the programs available include:
- The
Potsdam
Planning and Development Office can originate loans or
equity investments to businesses locating or expanding within
one of its Empire Zones in order to help with job creation.
For more information on the Zone Capital Credit Program
contact Paul Stevenson, Director of the Planning and Development
Office at 315.265.1670.
- The Micro-Enterprise
Loan Fund, administered by the Potsdam Planning and Development
Office, offers loans of up to $25,000 to businesses with five
or fewer employees, including the owner(s). Funds can be used
for working capital, leasehold improvements, machinery and
equipment, and real estate development. Contact Paul Stevenson
at 315.265.1670 for details.
- The Regional
Revolving Loan Trust Fund, established by the North
Country Alliance, provides loans for short and medium-term
working capital. Enterprises that may be eligible for these
loan funds include businesses with 100 or fewer full-time
employees and a minimum equity interest in the business of
at least 10%. Contact the president of the NCA, Tom Plastino,
at 315.268.3778 or email at solutions@citec.org.
- The St.
Lawrence County Office of Economic Development administers
a variety of employment and training programs under the Job
Training Partnership Act. For information, phone 315.386.3276
or visit them at www.slconestop.com.
- The county's
Industrial Development Agency (IDA) administers a county-wide
revolving loan fund limited to manufacturing firms. The IDA
also works with the Office of Economic Development to assist
firms in preparing and submitting loan applications to appropriate
government agencies and banks. And, the IDA works on behalf
of investors to obtain tax abatements and other business incentives.
For details, contact them at 315.379.2283 or visit their website
at www.slcida.com.
For details
on these and other programs available to you, contact:
Paul Stevenson
Potsdam
Office of Planning and Development
Civic Center, Park Street
Potsdam, NY 13676
phone: 315-265-1670
fax: 315-265-6020
email: pstevens@vi.potsdam.ny.us
C. Randall Beach
Empire State Development
Plattsburgh Office
401 West Bay Plaza
Plattsburgh, NY 12901
phone: 518-561-5642
fax: 518-561-8831
email: rbeach@empire.state.ny.us
Tom
Plastino
CITEC, Inc.
Box 8561 Clarkson University
Potsdam, New York 13699-8561
phone: 315-268-3778 x24
fax: 315-268-4432
email: plastino@citec.org
|
|