"This Empire Zone will help create new jobs and private sectorinvestment for Monroe County and represents another major step inour effort to meet the challenges presented by the nationaleconomic downturn," Governor George Pataki said in announcing theEmpire Zone designation on Thursday.

The zone consists of two square miles, or 1,280 acres, 500 acresof which have been designated in the Town of Gates at the RochesterTechnology Park property. Businesses that operate inside the Zoneare eligible for a range of tax benefits that are applied againstnew capital investments. Benefits include tax reduction credits,real property tax credits, sales tax exemptions, wage tax credits,and utility rate reductions, among others. The tax benefits canreduce a company's tax liability to as little as zero, stateofficials say.

Brad Cohen, president of Cohen Asset Management, the owner ofRochester Technology Park, notes, "The Empire Zones in New York arethe most competitive economic development program in the country.This will provide an extra incentive for several companies we arecurrently in talks with."