Empowerment Zone Benefits
Businesses that qualify and operate in one of two New York City Empowerment Zones may be eligible for an employer wage credit for increased depreciation tax deductions and tax-exempt bond financing. The federal zones are administered by local development corporations.
- Benefit - Wage tax credit; increase depreciation allowance; tax-exempt bond financing.
- Administering Agency
- U.S. Department of Housing and Urban Development
- Upper Manhattan Empowerment Zone (Upper Manhattan)
- Bronx Overall Economic Development Corporation (South Bronx)
- Website
- http://www.umez.org (Upper Manhattan)
- http://www.boedc.com (South Bronx)
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