EZ Communities:

Revitalization and Business Development

• Downtown Revitalization
  
  Since the early 1970’s the urban centers of Dutchess County had been characterized by declining populations, higher than average unemployment and poverty rates, deteriorating values of commercial and residential property, and high vacancy rates for commercial space. The City of Poughkeepsie was especially affected by high crime and in an overall state of disrepair.
  Dutchess County was designated an Empire Zone in 1994 and was able to utilize the tax incentives offered by the Empire Zone Program to propel the economic revitalization of downtown Poughkeepsie. Credits for real property taxes paid enticed developers to purchase and restore vacant buildings; wage tax credits prompted the hiring of individuals from the community; sales tax exemptions helped businesses lower their operating costs; all of which led to the restoration of what is now a vibrant community.
   
• Regionally Significant Project
  
  Bausch & Lomb, a global leader in the eye-health market and one of Rochester’s leading employers, was planning to expand its research and development capabilities. The company considered undertaking its project at facilities it owns outside New York, but instead chose Rochester. According to Bausch & Lomb, the region's outstanding workforce coupled with Empire Zone benefits and other State and local incentives were crucial factors in its decision to expand in New York. The company is investing over $30 million to construct a 73,000-square-foot addition to its existing world-class R&D center in Rochester and adding 200 new, high-paying jobs. By creating at least 50 new R&D jobs directly tied to manufacturing in Rochester, the company was eligible to be designated a “regionally significant project” and receive Empire Zone benefits.
   
• Community Development Projects
   
  • Seaman’s Society for Children and Families (SSCF): SSCF, a not for profit organization providing care and comfort for children in disadvantaged situations, was approved as a community development project in the North Shore of Staten Island. SSCF utilized Empire Zone Capital Credits which enabled them to offer donors a NYS tax credit worth 25% of their charitable contribution to aid the development of SSCF’s facility for its Staten Island based programs and administrative offices. The project is expected to be completed by early 2007.
     
  • St. George Theatre: St. George Theatre, also a community development project in the North Shore of Staten Island, employed Empire Zone Capital Credits to help raise $600,000 in charitable donations for the revival of this major cultural center. Visitors from all over enjoy the Theatre’s productions all year round.