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CORPORATE RELOCATION BENEFITS Companies planning to relocate to Orange County, New York from another STATE may enjoy the following benefits: NEW YORK STATE ENTERPRISE ZONE 485-B Property tax reduction for 10 years where the starting taxes are reduced to 50% of the normal taxes thereafter increasing 5% per year until the 10 years are over. IDA financing at low rates that are well below market rates IDA participation would see the mortgage recording tax waived, if a mortgage (financing) is used. The recording tax is 1%. (1% of $4,000,000 is $40,000) IDA sponsorship includes an exemption from the 7.25% State sales tax on all construction materials. (7.25% of $2,000,000 is $145,000) New York State JDA, grants for new job training from New York State Job Development Agency as long as the jobs are considered well paying. $1,500 per employee per 5 years STEWART AIRPORT - NEWBURGH ENTERPRISE ZONE Companies locating into Orange County from OUT OF STATE
"May qualify" for 20 years property tax abatement (0) taxes |