FOR IMMEDIATE RELEASE
September 5, 2007
MAYOR BLOOMBERG SIGNS LEGISLATION CORRECTING BOUNDARY OF BROOKLYN NAVY YARD/NORTH BROOKLYN EMPIRE ZONE
Remarks by Mayor Bloomberg at a Public Hearing on Local Laws
"The final bill before me today is Introductory Number 603-A, sponsored by Council Members Reyna, White, Yassky, Dilan, James, Martinez and Palma. Introductory Number 603-A authorizes the City to submit a technical correction to the Brooklyn Navy Yard/North Brooklyn Empire Zone to the Empire State Development Corporation.
"The Empire Zones Program was established in 1986 to benefit certain areas of New York State that face long-term unemployment and pervasive poverty. Empire Zones are designed to stimulate private investment, business development and job creation through a variety of incentives offered by New York State in the form of wage, real estate, sales and investment tax credits among others. As part of the redesignation of ten of the City's eleven Empire Zones last November, their boundaries were reorganized by block and lot number, which makes it easier for businesses to determine if they are eligible for benefits.
"Introductory Number 603-A adds Block 3037 to the Brooklyn Navy Yard/North Brooklyn Empire Zone, which was not captured during the conversion to block and lots. This technical amendment to this zone will help realize its intended configuration and enable more businesses to receive benefits.
"I would like to thank Small Business Services Commissioner Rob Walsh and his staff for their work on this bill. I would also like to thank the Council for approving this legislation."
Stu Loeser/Matthew Kelly (212) 788-2958
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