The Downtown Committee can help a prospective buyer or tenant locate a property downtown and learn about financial incentives, such as the New York State Empire Zone program and the Federal Empowerment Zone Program.

Empire Zone Program

The Empire Zone is administered by the City of Syracuse's Economic Development Department and provides a variety of local benefits and state tax incentives to qualified businesses located within the Zone.

In the City of Syracuse, the Empire Zone comprises a mjor portion of downtown, including the Armory Square District. Local incentives include property tax abatement for improved properties, utility rate reductions, and telephone rate reductions. State tax incentives include business tax credits, wage tax credits, investment tax credits, and state sales tax exemptions.

For more information about the city's Empire Zone, contact the Department of Economic Development at 315-448-8100 or visit their web site by clicking here.

Empowerment Zone Program

The Empowerment Zone is a federally funded economic development program that encourages companies to hire employees that might not otherwise have the opportunity and receive considerable tax credits for doing so. For more information on the Empowerment Zone, contact the city's Department of Economic Development at 315-448-8100 or visit their web site by clicking here.