Posted by The state Senate majority leader is seeking the dissolution of the state’s Empire Zone program, the $600-million-a-year economic stimulus effort that has been widely criticized as inefficient.
During a speech yesterday outlining a new job-creation plan, Majority Leader Dean Skelos proposed phasing out the Empire Zone program and replacing it with a statewide tax credit plan for small businesses.
The proposal would end the eight-year-old program that was designed to provide relief in the form of tax credits to economically distressed regions of the state. In return for the tax credits, participant companies are required to show some form of job or capital growth, a requirement that is rarely monitored.
Read the complete article from the NY Sun here
