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ALBANY, NY-Just a few revisions to the Sullivan County Empire Zone which adds an additional 134.17 acres of land to the state program, will allow 47 companies to more forward with proposals that will involve $123.8 million in new investment that could potential create as many as 3,075 new jobs.

“These smart revisions to our Sullivan County Empire Zone will strengthen local businesses, stimulate millions of dollars in new investment and create new job opportunities for the people of Sullivan County,” Governor George E. Pataki says.

Local economic development officials note that a host of area businesses will benefit from the revisions to the Empire Zone Program. Among the multi-million dollar ventures that now will be able to take advantage of state tax incentives include: Global Aquaproduction Systems LTD., which plans to invest $23.8 million and create 146 new jobs; Columbia Monticello, which plans to invest $12 million and create 240 new jobs; Best Western Paramount, which plans to invest $9 million and create 125 new jobs; Monticello Raceway, which plans to invest $6 million and create 300 new jobs; Holiday Mountain, which plans to invest $3.2 million and create 75 new jobs; Cannie D’s Corner, which plans to invest $2 million and create 40 new jobs; Formaggio Italian Cheese, which plans to invest $1 million and create 55 new jobs; Ideal Snacks, which plans to invest $1 million and create 40 new jobs and Kutsher’s Inc., which plans to invest $10 million and create 14 new jobs.

In addition, Emerald Corporate Center, a planned office park, which according to local economic development officials plans to make an investment $30 million and create a projected 1,500 new jobs, is also eligible for state tax incentives due to the revisions to the Sullivan County Empire Zone program.

Some of the perks of having a business located inside an Empire Zone include eligibility for a range of tax benefits that are applied against new capital investments. The incentives include: tax reduction credits, real property tax credits, sales tax exemptions, wage tax credits and utility rate reductions.

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