O
v e r v i e w
The Greater Jamestown Empire Zone
(GJEZ) is a New York
State
economic development initiative implemented through the local municipalities
including the City of Jamestown; and the Towns of Busti and Ellicott, which include the
Villages of Lakewood and Falconer. A federal
Renewal Community designation and funding opportunities through the Zone
Capital Corporation enhance benefits offered by New York
State, creating unique opportunities to start or expand your business in the
Greater Jamestown area.
Jamestown
is situated at the southern end of Chautauqua Lake located in Chautauqua
County in the southwest corner of the state.
The metropolitan areas of Buffalo, Rochester, Cleveland, Pittsburgh
and Toronto
are all located within a 180-mile radius.
The Empire Zones
(EZ) Program,
formerly known as the Economic Development Zones Program, was created by New
York State in 1986 to stimulate economic growth in a number of the State's
economically distressed areas. Through the enactment of this program, these
target areas were designated "Economic Development Zones" (EDZ). New legislation in 2000 renamed and enhanced the Economic Development
Zones Program. It became the Empire Zone Program and zone certified businesses
could become Qualified Empire Zone Enterprises or "QEZE's." This
entitled a QEZE business to enhanced benefits. During the 2005 budget process,
additional changes were made on how benefits were calculated and the legislation
expanded on certain qualifying factors, but some benefit terms were reduced.
The EZ program offers a variety of financial incentives and economic development benefits
designed to attract new businesses and to enable existing businesses to expand,
create new jobs and encourage private investment within the designated zones.
Specific benefits that the program provides are a combination of tax credits,
reduced utility rates, authorization for special low-interest loans, and
priority attention from State agencies for new and expanding businesses.
|
