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 . The federal zones are administered by local development corporations.
- Benefit - Wage tax credit; increase depreciation allowance.
- Administering Agency
- U.S. Department of Housing and Urban Development
- Upper Manhattan Empowerment Zone (Upper Manhattan)
- Bronx Overall Economic Development Corporation (South Bronx)
- http://www.umez.org (Upper Manhattan)