Incentive Programs, Forms & Publications
Qualified Empire Zone Enterprises (QEZEs) are eligible for enhanced sales, property, and business tax credits for businesses locating and expanding in such zones. The Empire Zones Program provides companies that increase their employment the opportunity to operate on an almost "tax-free" basis for up to ten years in designated areas of the State.
To participate in the Empire Zone Program, one of the following must be true:
- Business is new to New York State
- Business is experiencing employment growth
- Business is purchasing or constructing production facilities
To calculate potential QEZE Tax credits, Download Excel spreadsheet.
Prior to accessing Empire Zone benefits, you must register with the Schenectady/Glenville Empire Zone.
Enhanced QEZE benefits include:
- Sales Tax Exemptions. Qualified Empire Zone Enterprises (QEZEs) receive a 10-year exemption from State sales tax on purchases of goods and services (including utility services) used predominantly in such zone.
- Register Using form DTF-82 (For Business certified before August 1, 2002)
- Register Using form DTF-83 (For Business certified after August 1, 2002 and before April 1st 2005)
- Register Using form DTF-84 (For Business certified on or after April 1st, 2005
- Access the credit using form ST-121.6 (.02 mb)
- Your contractors may access the credit using form ST-120.1 (.02 mb)
Contractor Exempt Purchase Certificate
- Real Property Tax Credit. Qualified Empire Zone Enterprises are allowed a refundable credit against business tax equal to a percentage of real property taxes paid in the zone (effective for taxable years beginning on or after January 1, 2001)
- File using form CT-604 same as Income Tax Reduction Credit
- Instructions for CT-604 same as Income Tax Reduction Credit
- Income Tax Reduction Credit. Qualified Empire Zone Enterprises are allowed a credit against tax equal to a percentage of taxes attributable to the zone enterprise (effective taxable years beginning on or after January 1, 2001).
- File using form CT-604 same as Real Property Tax Credit
- Instructions for CT-604 same as Real Property Tax Credit
Other Empire Zone Tax Credits and Programs
- Wage Tax Credit (WTC). 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.
- EZ Investment Tax and Employment Incentives Credit (ITC-EIC). 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.
- File using form CT-603
- Instructions for CT-603
- Financial Services Industry use form CT-605
- Instructions for Form CT-605
Linked Deposit- - Empire State Development offers the Linked Deposit Program, a public-private partnership that provides businesses with affordable capital based on bank loans at reduced interest rates. These bank loans, subsidized by corresponding "linked" state deposits, offer:
- The ability for eligible businesses to obtain loans from commercial banks, savings banks, savings and loan associations, and farm credit institutions.
- A two to three percentage points savings on the prevailing interest rate for "Linked Loans," to make borrowing less expensive.
- A maximum loan amount of $500,000 for two years
Loans - up to $50,000 for:
- machinery and/or equipment
- real property acquisition
- inventory purchase
- working.capital
New Business Refund. Business 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.
Real Property Tax Abatement. Tax abatements from assessment increases due to new construction or renovation. Increases are limited to 50% of the increase in year one, and increase by 5% per year through year 10.
Sales Tax Refund. Purchases of building materials to be used for commercial or industrial real property located in an EZ are eligible for a refund of NYS sales taxes. A similar refund of local sales tax may also be available from the locality.
Technical Assistance .Each local zone office is staffed with professionals qualified to assist businesses locating or expanding in an EZ.
Utility Assistance.
Utility Rate Savings. Special reduced electric and gas rates may be available through Niagara Mohawk, Verizon and other utility providers. Businesses that locate or expand their operations in an EZ may receive significantly reduced rates.
- For information, contact you utility provider
Workforce Training. New York State offers training assistance to small and large businesses attempting to meet the challenge of creating new products, entering new markets and improving production. Up to half the cost of any training project that creates or retains jobs. Training in new technologies, new skills or new work processes. Classroom or on-the-job training.
For information on any of the above mentioned programs, contact the zone coordinator
