UPDATE: The Chinatown/Lower East Side Empire Zone

Chinatown and the Lower East Side have been designated as an Empire Zone. The Empire Zone program is a New York State program that offers special incentives to encourage economic and community development, business investment and job creation. Businesses certified by the Empire Zone program located within the Chinatown/Lower East Side Empire Zone will be eligible to receive significant tax credits and benefits.

The Empire Zones program is administered in Chinatown and the Lower East Side by Renaissance Economic Development Corporation and the New York City Department of Small Business Services, in cooperation with Empire State Development (ESD) and the State Departments of Labor and Taxation and Finance.

We are working hard to implement the program. Currently, we are actively assisting projects in preparation of their applications and presentation before the Zone Administrative Board.

If you have questions about the Empire Zones program, we can be reached at (212) 964-6022.

Thank you.

Renaissance Economic Development Corporation
April 2008