Thursday, August 2, 2007

Warnings on NY State's Empire Zone Program

Companies that have received millions of dollars in tax breaks as part of the state's Empire Zone program have been put on notice by the state for failure to meet commitments to invest in economic expansion and promises to increase jobs. State officials announced they had notified 3,000 companies - nearly a third of participants, including three operating on Long Island - that they could lose tax breaks and other benefits under the program, launched more than two decades ago to stimulate economic growth and create jobs. This is the first time the state has officially notified participating companies of failure to meet their obligations under the program.

Read more here.

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