A Long Island City Business Gets Jamaica's Tax Breaks |
| Published: November 15, 2007, 6:01 pm |
| Tags: real estate, empire zones, jamaica, long island city, tax breaks |
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In an unusual arrangement, the City Council on Thursday voted to let a Long Island City business take advantage of tax breaks that usually go along with the Empire Zone in Jamaica. The concept is a little controversial, since Empire Zones are set up to benefit a particular neighborhood or region. But about 50 businesses have been certified regionally significant projects in the past two years. (Before 2005 reforms, municipalities were selling the tax breaks to businesses outside zones.) To qualify, manufacturing companies have to pledge to add 50 people to their workforce, although they do not have to justify why they could not locate directly within the zone, according to Randal Coburn, director of Empire Zones program at the Empire State Development Corporation. The Long Island City company, Bimmy's, is a sandwich manufacturer that supplies airports both here and elsewhere. It had earlier received the support of the Bloomberg administration, City Councilors from Jamaica and [ Full article ] |
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