1. Wage Tax Credit - A wage tax credit for up to five consecutive years for hiring full-time employees in newly created jobs. For employees in targeted groups, this credit equals $3000 a year. A minimum credit of $1500 a year is available for all other new employees.
2. Investment Tax Credit - An investment tax credit is available for the purchase of production property and equipment. The credit is 10% for corporate franchise tax and 8% for personal income tax. 
3. Employee Incentive Credit - In addition to the investment tax credit, an employee incentive credit is available to corporations that create new employment. This credit equals 30% of the investment tax credit for each of the following three years in which the investment was made.
4. New Companies to New York State - New companies to New York State are entitled to a 50% cash refund for both the wage tax and the investment tax credits.
5. Energy Savings - Niagara Mohawk, a National Grid company offers reduced electric and gas rates to businesses within six months of locating or expanding in the Zone.
6. Zone Capital Credits - A 25% tax credit against personal or corporate income taxes is available for a direct equity investment in a certified Zone business, or for contributions to approved community development projects within the EZ.
7. Statewide Zone Capital Corporation Loan Program - Empire Zones from throughout New York State have contributed to an investment pool of more than $100 million. Businesses certified in the Troy EZ can apply to the Corporation for financing through the Troy Empire Zone office.
8. Sales Tax Refund - Purchases of building materials to be used in the development of commercial or industrial real property located in the EZ are eligible for a refund of NYS sales tax.
9. Sales Tax Exemption - There is a state sales tax exemption (4%) from business-related expenses. Businesses must meet a required employment test.
10. Real Property Tax Credit - A tax credit is applied against state business-related taxes based upon a formula of job creation and real property taxes paid.
11. Tax Reduction Tax Credit - A tax credit is applied against state business-related income taxes based upon a formula of job creation, total business assets, total wages paid, and the applicable tax liability.
12. Verizon Discount - Verizon offers a 5% reduction on interstate calls. Zone certified business should contact the customer assistance number on their verizon bill.

Business Certification Application Package Information:

Instructions for Completing Application
City of Troy Certification Criteria
Certification Application

Empire Zone Map
Zone Area 1
Zone Area 2
Zone Area 3

Q – Is my business located within the Troy Empire Zone?
A – The attached map shows the location of the Troy Empire Zone.

Q – What type of funding is available to businesses located in an Empire Zone ?
A – The Troy Empire Zone program does not offer financial incentives in the form of grants or loans.

The Empire Zone program does provide tax credits and utility rate reductions (as described in detail on this site) to businesses that meet a certain ratio of employment wages and investment dollars.

Q – How do I become an Empire Zone Business?
A – You must complete an application, and your application must be approved by the City of Troy Empire Zone Administrative Board, the New York State Department of Labor, and New York State Empire State Development Corporation.

You can get an application from the City of Troy Planning Department or you can download an application from this site.

Q – Do I have to own a building to apply to become an Empire Zone Business?
A – No. You do not have to own property to apply to become an Empire Zone business but you must plan on hiring employees and making an investment in equipment and/or building renovations.

Q – How many employees do I have to hire to be eligible for benefits?
A – There is no specific number of employees that Zone businesses are required to hire.

Q – How long does it take to get approved for Empire Zone benefits?
A – The process for securing Empire Zone approval takes approximately 2 to 4 months.

Q – How do I claim the benefits after I am approved?
A – Benefits are claimed by completing NYS Department of Taxation claim forms when you are filing your personal or corporate income tax. You can check the New York State website for information on current Empire Zone claim forms and filing procedures.

Q – What is a QEZE?
A – Qualified Empire Zone Enterprise

Q – What if I do not expect to have a corporate tax liability in the next few years?
A – The tax credits offered through the program are intended to provide relief from corporation tax liability. If you are not anticipating any tax liability for the first 3 to 5 years of business operations you should consult with an accountant prior to submitting an application.

Q – If I am moving my business from one county to another, do I have to fill out a new application in my new location?
A – Yes. If you are moving your business from a location in New York State that is designated as an Empire Zone, to another Empire Zone designated location in the State, you simply need to complete an application for certification in the new Zone.

If you are moving your business from a location in New York State that is not designated as an Empire Zone, to another Empire Zone designated location in the State, you need to receive municipal consent from the Zone from which you are moving, to receive benefits in the new Zone. You also need to complete an application for certification in the new Zone.

Corporation Tax Forms

CT-601 Claim for EZ Wage Tax Credit
CT-601 Instructions for Form CT-601

CT-602 Claim for EZ Capital Tax Credit
CT-602 Instructions for Form CT-602
CT-603 Claim for EZ Investment Tax Credit and EZ Employment Incentive Credit
CT-603 Instructions for Form CT-603

CT-604 Claim for QEZE Credit for Real Property Taxes and QEZE Tax Reduction Credit
CT-604 Instructions for Form CT-604
CT-604-CP Claim for QEZE Credit for Real Property Taxes and QEZE Tax Reduction Credit for Corporate Partners
CT-604-CP Instruction for Form CT-604-CP

CT-605 Claim for EZ Investment Tax Credit and EZ Employment Incentive Credit for the Financial Services Industry
CT-605 Instructions for Form CT-605

Individual Tax Forms

IT-601 Claim for EZ Wage Tax Credit
IT-601 Instructions for Form IT-601

IT-601.1 Claim for ZEA Wage Tax Credit
IT-601.1 Instructions for Form IT-601.1

IT-602 Claim for EZ Capital Tax Credit
IT-602 Instructions for Form IT-602

IT-603 Claim for EZ Investment Tax Credit and EZ Employment Incentive Credit
IT-603 Instructions for Form IT-603

IT-604 Claim for QEZE Credit for Real Property Taxes and QEZE Tax Reduction Credit
IT-604 Instructions for Form IT-604

IT-605 Claim for EZ Investment Tax Credit and EZ Employment Incentive Credit for the Financial Services Industry
IT-605 Instructions for Form IT-6

Sales Tax Forms

AU-11 Application for Credit or Refund of Sales or Use Tax
DTF-80 Application for a Qualified Empire Zone Enterprise (QEZE) Certification

ST-102.2 Sales and Use Tax Exemption on Sales to a Qualified Empire Zone Enterprise (QEZE)
ST-120.1 Contractor Exempt Purchase Certificate
ST-121.6 New York State Sales and Use Tax Qualified Empire Zone Enterprise (QEZE) Exempt Purchase Certificate

FT-500 Application of Refund of Sales Tax paid on Automotive Fuels

Publications, Bulletins and Notices

Publication 26 A Guide to Business Tax and Personal Income Tax Credits within Empire Zones

Publication 30 A Guide to Sales and Use Tax Incentive with Empire Zones

Publication 31 Empire Zones Sales and Compensating Use Tax Refund Rate

Publication 718-Q Local Sales and Use Tax Rate on Sales to a Qualified Empire Zone Enterprise (QEZE)

Notice N-01-7 Information for Sales Tax Vendors for Sales Made to Qualified Empire Zone Enterprises (QEZEs)

TSB-M-01(1)S Qualified Empire Zone Enterprise (QEZE) Exemptions (Articles 28 and 29)

TSB-M-01(1)C, (1)I 1/23/01- Qualified Empire Zone Enterprise (QEZE) Tax Credits (Articles 9-A, 22, 32 and 33)

TSB-M-01(1.1)C, (1.1)I 3/8/01-Qualified Empire Zone Enterprise (QEZE) Tax Credits (Articles 9-A, 22, 32 and 33)