For More Information:
William R. Steinhaus
Dutchess County Executive
(845) 486-2000 email@example.com
For Immediate Release
April 28, 1999
County Executive Approves Job Producing
Economic Development Zone
Poughkeepsie, NY - Dutchess County Executive William R. Steinhaus has thrown his support behind the boundary revision of the Poughkeepsie/Dutchess Economic Development Zone in an effort to secure the county's continued job growth. The revision will remove unproductive lands from the economic development zones and reassign that acreage to properties that offer opportunities to attract or retain expanding businesses within Dutchess County.
The state legislature has allowed for up to two square miles in Dutchess County to be designated as an Economic Development Zone (EDZ). The purpose of the EDZ is to encourage investment into areas where economic revitalization is needed. Businesses located in an EDZ must be expanding through either investment or increased employment to become eligible for state, county or local tax incentives such as a reduction in state wage taxes, real property exemptions or even a reduction in certain construction supplies. "EDZs are an effective tool in addressing employment and economic development," County Executive Steinhaus said.
"We have two square miles which we can use and we have attempted to maximize the available parcels within the designated EDZ boundaries," said Steinhaus. "We are prepared to delete churches, public-use properties and eliminate swampy areas where development cannot occur anyway. If we do this we can create new areas for companies that are expanding the county's employment opportunities."
By deleting properties on which development is not possible, new areas can be added to the EDZ. One zone to be added will be in the Town and Village of Fishkill and will encompass portions of the site where the Gap plans to develop its facility. The Gap, however, will not be eligible for any local incentives through the EDZ. They will only receive NYS Wage Tax credits which were necessary to equalize the labor cost with the competitor location in Pennsylvania.
But other areas will be added as well. Poughkeepsie will also have additional industrial areas designated as part of an EDZ. The revision in Poughkeepsie extends benefits to vacant and underdeveloped properties, thus encouraging new investment. In East Fishkill new additions could accommodate potential future Chip Fab Development under Governor Pataki's Chip Fab '98 initiative.
"This is a comprehensive revision which will offer new opportunities for business development in each part of the EDZ. It is an important part of our strategy," said EDZ Chairman, Dr. David Conklin.
"EDZs are an important device for revitalizing an area," Steinhaus noted. "We want to make the most of these possibilities and that is why I am so supportive of the revision of the present EDZ boundaries. We must realize that economic development never stands still and we must continually make adjustments to retain the strong economy which we are enjoying today."
-end-County Executive Press Releases