Nassau County Executive Thomas R. Suozzi and Legislator Brian Muellers have announced that a new Empire Zone has been approved for the City of Glen Cove, a step that will establish "tax-free" business sites to help spark new private sector investment, job creation and economic expansion for the local community.

According to county reports, the location of the Empire Zone begins at the intersection of the City of Glen Cove border, LIRR, and continues northeast to the intersection of the Glen Cove Arterial Highway and Hazel Avenue.

The areas for the proposed zones throughout the county are largely located in the county's downtown areas where infrastructure cannot support the needs of the local businesses and residents, public transportation is lacking and environmental justice issues are rampant. The focus is on job retention and attraction, and these themes will continue as the basis for business expansion and employment generation in the county's economic development zone.

"Part of our plan for the future of Nassau County is to restore and revitalize our community's downtown areas," said Suozzi. "Ours is the first suburban county in the country and we are experiencing problems that have not yet been seen in any community like ours. The Empire Zone program is an important step toward achieving this goal."

Nassau County is seeking to attract community investment, which is key to the revitalization of the downtown areas. The county is partnering with the City of Glen Cove to design comprehensive community and revitalization programs which will result in an increase in job opportunities.

"This is an outstanding opportunity for Nassau County and a great leap forward in our continued commitment to intelligent economic development and growth of communities where the needs are greater," said Muellers. "This type of program allows us to attract businesses to the area and retain them while we continue our efforts to rebuild the county's financial stability."

Those businesses that participate and invest in an Empire Zone are eligible for sales tax exemption, real property and business tax credits. The purpose of the Empire Zones Program is to give companies increasing their employment opportunity to operate on an almost "tax-free basis for up to 10 years in designated areas of the state, with additional savings available on a declining basis in years 11 through 15.