Cortland County BDC Hosts Empire Zone Workshop

The Cortland County BDC has scheduled an informal Empire Zone workshop from 9:30 am until 11:30 am on October 9 at the Community Restaurant, City of Cortland. The workshop will feature a general overview of the Empire Zone program by Cortland Zone Coordinator Karen Niday. Open to the public free of charge, it is designed especially for eligible businesses that have not yet been Zone certified. To date, more than 90 businesses in Cortland County have been locally certified to be eligible for benefits through the program.

The informal discussion will include:

• An overview of the Empire Zone program
• An explanation of benefits associated with the Zone
• Location of the Zone in Cortland County
• The Zone certification process and timeline
• Questions and answers

Approved in June 2002, Cortland's Empire Zone includes up to 1,280 acres, or two square miles of the County. Due to eligibility requirements, 960 acres are currently located in the City of Cortland and up to 320 acres are designated as "nearby lands" and located in other areas of the County. Some acreage has been placed in a land bank to be designated as economic need is identified.

To take advantage of Zone benefits, companies must be located in the Zone and commit to either making an investment, or to maintaining or increasing employment in the Zone. Upon certification, Zone benefits include:

• Wage Tax Credit
• Investment Tax Credit
• Investment Tax Credit Employment Incentive
• Real Property Tax Abatement
• Real Property Tax Credit
• Tax Reduction Credit
• Sales Tax Exemption
• Sales Tax Refund
• Zone Capital Credit
• Utility Rate Reduction

To determine if a business is located in the Zone or make reservations for the workshop, call the Cortland County BDC at 756-5005.