FOR IMMEDIATE RELEASE
August 12, 2008
MAYOR BLOOMBERG SIGNS LEGISLATION DESIGNATING THE BRONX-WESTCHESTER TEMPERING CORPORATION AS A REGIONALLY SIGNIFICANT PROJECT
Remarks by Mayor Bloomberg at a Public Hearing on Local Laws
"The final bill before me today is Introductory Number 779, sponsored by Council Members Koppell, White, Comrie, James, Palma, Seabrook, Gerson, Gonzalez, Reyna, Weprin and Liu which authorizes the designation of Bronx-Westchester Tempering Corporation as a Regionally Significant Project.
"The Empire Zones Program was created by the State Legislature in 1986 to stimulate private investment and job creation through a variety of State tax incentives, including wage tax credits, investment tax credits and real property tax credits. The State Legislature adopted legislation in April 2005 that extended the Empire Zones Program until June 30, 2011 and created a provision allowing for the Regionally Significant Project designation. This designation allows local businesses outside the geographic boundaries of an Empire Zone to tap into valuable State tax credits. In order for the Empire State Development Corporation to authorize a Regionally Significant Project, the local government must enact a local law authorizing such designation.
"Introductory Number 779 will authorize the designation of Bronx-Westchester Tempering Corporation as a Regionally Significant Project in New York City. Bronx-Westchester Tempering Corporation will operate a glass manufacturing and processing business and distribute its product within the tri-state area. Bronx-Westchester Tempering Corporation projects the creation of 60 new, full-time jobs and significant investments in production equipment and building improvement. With the Regionally Significant Project designation, Bronx-Westchester Tempering Corporation will continue to support our City's manufacturing job base.
"I would like to thank Small Business Services Commissioner Rob Walsh and Office of Industrial and Manufacturing Businesses Director Leslie Ramos and their staff for their work on this bill. I would also like to thank the Council for approving this legislation."
Stu Loeser/Evelyn Erskine (212) 788-2958