NEW YORK INCENTIVES SUMMARY

Economic Development Fund (EDF)
The EDF assists with projects promoting the creation and retention of jobs or increasing business activity in the State of New York. EDF funds may assist with constructing, expanding, and rehabilitating facilities, acquiring machinery and equipment, working capital, and training full-time permanent employees. Eligible uses include industrial, manufacturing, warehouse and distribution, research and development, high tech, non-retail commercial services, and not-for-profits.

Excelsior Jobs Program
Companies in targeted industries that create or retain jobs or make significant capital investments may be eligible for up to four Excelsior tax credits claimed over an eight to 10-year period:

The Excelsior Jobs Tax Credit
A credit of 6.85 percent of wages per net new job to cover a portion of the associated payroll cost.

The Excelsior Investment Tax Credit
Valued at two percent of qualified investments.

The Excelsior Research and Development Tax Credit
A credit of 50 percent of the Federal Research and Development credit up to six percent of research expenditures in New York.

The Excelsior Real Property Tax Credit
This option is available to companies located in certain distressed areas and to companies in targeted industries that meet higher employment and investment thresholds.

Employee Training Incentive Program (E-TIP)
E-TIP provides refundable tax credits to employers for procuring skills training that upgrades, retrains, or improves the productivity of their employees. Businesses can also receive tax credits for approved internship programs that provide advanced technology or life sciences training.

Tax credits may be available for costs associated with an eligible training program for current or new employees of up to 50% of eligible training costs and $10,000 per employee receiving eligible training.

The internship program is available for current students, recent graduates, and recent armed forces members. Tax credits of up to 50% of the stipend paid to an intern, up to $3,000 per intern,
may be available only after completion of approved training.

Empire State Jobs Retention Program
A financial incentive designed to retain strategic businesses and jobs at risk of leaving the state due to the impact on business operations caused by a natural disaster. Companies may qualify for a tax credit of 6.85 percent of wages per impacted job.

New York Power Authority (NYPA)
Electricity rate assistance through NYPA's Recharge New York (RNY) program may be made available for energy-intensive projects. The amount of assistance will be determined by project capital investment, job creation, and energy consumption. The allocation would be for up to seven years and could represent a savings of up to 70 percent off market rates.