Bill > S04797

This bill establishes the Manufacturing Development Zone (MDZ) program, a strategic economic development initiative designed to attract heavy manufacturing businesses to New York State. The program allows political subdivisions (counties or municipal corporations) to apply for designation of specific geographic areas as manufacturing development zones, with a limit of six zones per year and no more than two zones in a single county. Businesses that move into these zones and meet specific criteria can receive substantial tax incentives, including a 100% property tax credit on the increase in property value and a state income tax credit for income generated from manufacturing activities within the zone. To qualify, businesses must be engaged in heavy manufacturing (large-scale projects like construction, mining, and metal processing), create new jobs, make capital investments, and not have a prior economic presence in the state. The tax credits are available for up to ten consecutive years, and the program aims to encourage out-of-state manufacturers to invest in New York by offering these significant financial benefits. The bill also requires annual assessment and reporting by the department and comptroller to evaluate the effectiveness of the tax credits in attracting and retaining manufacturing businesses.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S4797