NEW YORK STATE AND ROCKLAND COUNTY INCENTIVES

NEW YORK STATE BENEFITS

Firms in the Excelsior Jobs Program may qualify for four fully refundable tax credits.  Businesses claim the credits over a benefit period of up to 10 years. Approval is discretionary.

  • Excelsior Jobs Tax Credit:  A credit of 6.85% of wages per net new job.
  • Excelsior Investment Tax Credit:  Valued at 2% of qualified investments.
  • Excelsior Research and Development Tax Credit:  A credit of 50% of the Federal Research and Development credit up to six percent of research expenditures in NYS.
  • Excelsior Real Property Tax Credit: Available to firms locating in certain distressed areas and to firms in targeted industries that meet higher employment and investment thresholds (Regionally Significant Project).

LOCAL ROCKLAND COUNTY IDA BENEFITS

The Local IDA may grant the below discretionary incentives for Projects creating jobs and/or making significant capital improvements.

  • Real Estate Tax Abatements
  • Sales Tax Exemptions on building materials and/or ongoing capital expenditures
  • Mortgage recording tax exemption