Aggressive State Incentives

Credit Excelsior Jobs Program:
•Provides job creation and investment incentives to firms in targeted industries.
•Qualifying firms can earn fully refundable tax credits:
•Jobs Tax Credit
•Investment Tax Credit
•Research & Development Tax Credit
•Real Property Tax CreditExcelsior

Discretionary Incentives:
•New York State has traditionally offered significant cash grants for hi-tech capital projects. For example, NYS offered $1.2B towards AMD/Global Foundries $4.6B semiconductor manufacturing facility.

Local Tax Abatement and Tax Increment Financing
•Payment-in-lieu of Tax Agreements will reduce property taxes by 67% over ten years.
•Tax Increment Financing can be used to roll any remaining tax payments back into capital improvements, saving the company millions of dollars in project costs.

PV-Related State Incentives

New York StateSolar Grade Silicon Metal Incentive
•Solar grade silicon at discounted rates for businesses involved in the manufacturing of photovoltaic solar cells, integrated circuit chips and electronic semiconductors.
•1,000 metric tons or 25% of silicon produced by Globe Specialty Metals available annually at discounts up to 15%.

Clean Energy Technology Manufacturing Incentive Program
•State program to provide funding for clean energy technology manufacturers to develop or expand a facility to produce innovative clean energy technology products.

Low-Cost Hydropower
•Reserved by New York State law for companies planning to build or expand in parts of New York (average of 3-4 cents/kwh)

Foreign Trade Zones
•Merchandise may be exported from the Foreign Trade Zone to a designation outside U.S. customs territory without being subject to U.S. Customs duties or certain other U.S Taxes.

Discretionary Incentives

•New York State has traditionally offered significant cash grants for hi-tech capital projects. For example, NYS offered $650M towards AMD/Global Foundries $3.2B semiconductor manufacturing facility, or 20%of the total construction cost.

Local Tax Abatement and Tax Increment Financing

•Payment-in-lieu of Tax Agreements will reduce property taxes by 67% over ten years.
•Tax Increment Financing can be used to roll any remaining tax payments back into capital improvements, saving the company millions of dollars in project costs.

Funding Resources

NYSERDA
•$791M Dedicated to Renewable Energy

National Grid
•$9.1M Economic Development Fund

New York Power Authority
•$120.6M for Renewable Energy Projects

US Federal Government
•$2B at Brookhaven National Labs
•$50M at NYU

State of New York (NYSTAR)
•$75M for Energy Projects

Empire Zone Benefits

•Based on a project with 1000 employees and a $500M capital investment:
•Wage Tax Credits (based on 1000 employees) -$1.5M -$3.0M*
•Investment Tax Credits (based on a $500M capital investment) -$50.0M*
•Real Property Tax Refund (up to $10,000 per job) -$10.0M*
•Employment Incentive Tax Credit (30% ITC over 3 years) -$15.0M*