Chinatown zone

Department of Small Business Services Commissioner Rob Walsh said last week that the department is making progress in organizing an Empire Zone for Chinatown and Little Italy.

“We’re trying to put together a Chinatown Empire Zone using space not being used by the East New York Empire Zone, and we’re getting co-operation from the East New York zone,” said Walsh, at a May 7 meeting of the Greenwich Village Chelsea Chamber of Commerce.

The proposed new zone requires approval from the state but because it is put together from excess space of existing zones, it does not require legislative action.

Empire Zones provide significant tax breaks and low-cost loans to qualified businesses that expand their work forces and investments within a zone.


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