Gov. David Paterson has confirmed he and the Legislature have a tentative agreement on another major jobs program to replace the state’s Empire Zones. The Excelsior Jobs, which would provide $250 million a year in tax breaks and credits for “high growth, high wage industries,” would do away with the 22-year-old Empire Zone program. Eliminating the Empire Zone program...
View full sizeNew York Gov. David Paterson talks to reporters at the Capitol in Albany on March 8.Gov. David Paterson has confirmed he and the Legislature have a tentative agreement on another major jobs program to replace the state’s Empire Zones. The Excelsior Jobs, which would provide $250 million a year in tax breaks and credits for “high growth, high wage industries,” would do away with the 22-year-old Empire Zone program.
Eliminating the Empire Zone program is a good idea, says commenter pogoaddict. "Reports have shown that the Empire Zone has produced only 5 percent to 8 percent of the jobs promised by the companies that received the money. And much of that was before the economy tanked. Many companies, like Law Offices, did nothing but change their names, they are called "Shirt Changers" because they change their name and claim all their previous employees as new hires and got the Tax Breaks. Its long past time that this Corporate Welfare was corrected. We should help new companies and those who want to expand, but they should at least hire close to what they promised to hire to get the Tax Breaks."
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