FOR IMMEDIATE RELEASE
December 28, 2009
MAYOR BLOOMBERG SIGNS LEGISLATION DESIGNATING EPIC PHARMA AS A REGIONALLY SIGNIFICANT PROJECT ELIGIBLE FOR THE EMPIRE ZONE PROGRAM
Remarks by Mayor Bloomberg at a Public Hearing on Local Laws
"The next bill before me is Introductory Number 1014, sponsored by Council Members White, Weprin and Mealy. Introductory Number 1014 designates Epic Pharma, LLC, as a Regionally Significant Project eligible for State benefits under the Empire Zone Program.
"The Empire Zone Program was established in 1986 to stimulate private investment, business development, and job creation in disadvantaged communities through a variety of State incentives, including wage, investment, sales, and real property tax credits. The Regionally Significant Project designation allows for certain businesses located outside the boundaries of an Empire Zone to be eligible for these benefits. To qualify for designation, a business must meet more rigorous employment creation thresholds and be approved by the Zone Administrative Board, the State, and the local legislature.
"Epic Pharma, LLC, is a pharmaceutical manufacturing company located in Southeast Queens that will receive benefits in the South Jamaica Empire Zone. Epic Pharma purchased its Queens facility from Sandoz, Inc., an international pharmaceutical manufacturing company that had planned to close its Queens facility and outsource operations elsewhere. Upon purchase, however, Epic Pharma has continued operations as a contractor to Sandoz and will create fifty new jobs by the end of 2011, thanks in part to this designation.
"I would like to thank Department of 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/Evelyn Erskine (212) 788-2958
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