Mayor Michael Bloomberg is poised to announce which university has been selected to develop an applied science and engineering campus in New York City. The City of New York will provide land and infrastructure investments worth up to $100 million to the winner. Time will tell whether the campus will serve as the catalyst for transforming the New York metropolitan area into the
Power for Jobs was created in 1997 to provide discounted power to approved businesses in the form of lower rates from their local utility companies. Utility companies in the program also receive a tax break on their utility gross receipts tax for the discount they offer on transmission.
Last year, New York State began to phase out the roundly criticized program called Empire Zones. The program doles out a panoply of tax incentives to approximately 10,000 firms, either located in an "Empire Zone" or deemed "regionally significant" in return for a commitment to create or retain jobs and to invest capital in the firm's infrastructure.
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