|
Putnam Empire Zone Moves Closer to Development
County begins 2007 falling $284,000 short on January sales tax revenue
by Margaret Sternberg
An Empire Zone within Putnam County seems more feasible than ever and the County is poised to take the first steps toward making it a reality according to Kevin Bailey, President of the Putnam County Economic Development Committee. An Empire Zone is a state-supported region which, through tax breaks and other incentives, creates an area of economic development and job growth.
At the February 26, 2007 meeting of the Economic Development Committee, Bailey explained that among several developments, the Empire Zone, which can be up to 1,280-acres in size, no longer must be situated on contiguous land, allowing for the establishment of Empire Zones on up to seven locations within the County. While the County has the final say on location, it will work with the towns in picking out which areas will be designated Empire Zones. Bailey also pointed out that a prior requirement of having water and sewer to the location has been revised to "try the best you can" to have those services for the location.
Bailey said that one of the biggest draws, ironically, was that because Putnam County is one of the last counties in NY to have an Empire Zone, companies that had been "shut out" of neighboring states might find Putnam an attractive area in which to relocate. Bailey added that the program has been revised over the years and that Putnam stands to benefit also from "new and better ideas."
Bailey said he was appearing before the committee because he wanted to proceed with the application, which costs $15,000. He said his group was hoping to get a grant that would enable them to hire a firm familiar with the process to shepherd the application through. Bailey said they would not request the County to provide funds.
Among the benefits, Bailey said, is that a potential employer coming into the county can have his work facility designated an Empire Zone. Bailey also said projects that are a part of the Empire Zone can receive sales tax exemptions as well as tax abatements that are borne by the entire state rather than solely the taxpayers of the county.
Approval for the first Empire Zone in the County is expected to come from the state in July.
Following the Economic Development Committee meeting, the Audit & Administration Committee met briefly and approved for pre-filing several resolutions.
The committee noted that sales tax revenue for January 2007, at $3,214,376, fell $283,633 short of sales tax revenues for January 2006 and was $538,535 less than the projected monthly 2007 January. The County has estimated a total of $46,033,000 in sales tax revenue for 2007.
The March meetings of the Economic Development and Audit Committees will be posted on the PCN&R's website as soon as they become available.
Providing local news, information and opinions from
Philipstown and Putnam Valley, NY
Encompassing the Villages of Cold Spring and Nelsonville,
and the hamlet of Garrison, Putnam County, NY.
This site is a publication of The Putnam County News and Recorder, the source for news and information of the Philipstown
and Putnam Valley area. The PCN&R is 139
years old, published in hard copy every Wednesday, and circulated throughout Putnam
County, NY.
The PCN&R prints LEGAL NOTICES
for: Putnam County, The Town of Philipstown, The Town of Putnam Valley, Village of Cold Spring, Village of
Nelsonville, the Haldane Union Free School District and the Garrison Union Free School
District.
Deadline for printed press releases, advertisements and classifieds is Monday at noon for
Wednesday publication. This site is updated on an as-needed basis with a minimum update
weekly on Thursdays. For further information or to request a subscription to the paper, please
contact us with your name and mailing address at:
(845) 265-2468 PO Box 185, Cold Spring, NY 10516, or e-mail us at editor@pcnr.com
If you see an advertiser on line, tell them! | Click ads below
for larger version
System and Method for Display
Ads have a Patent Pending.
Click Here for More Information
|
