NY awards tax breaks, incentives to boost jobs - NEWS10 ABC: Albany, New York News, Weather, Sports

NY awards tax breaks, incentives to boost jobs

ALBANY, N.Y. (AP) - New York economic development officials have announced a new round of more than $700 million in regional economic development incentives on top of $785.5 million last year, all intended to keep or create jobs.
    
The winning proposals from the state's 10 regions will get the biggest grants, worth millions of dollars in incentives. Most of the incentives announced by Governor Andrew Cuomo are tax breaks.
    
The largest grants this year are $96.2 million for the Finger Lakes, $93.8 million to central New York, and $92.8 million for the mid-Hudson Valley.
    
Other larger regional awards are $91.1 million for the Southern Tier and $90.2 million for the North Country, including the Adirondacks.
    
Others are $59.7 million each for Long Island and the Mohawk Valley, $52.8 million for western New York, $50.3 million for the Capital Region and $51.4 million for the New York City area.

Each region has an advisory board of local business leaders and academics to develop plans that will create, expand or retain jobs based on local natural and commercial assets. 

A year ago, Long Island, western New York, the North Country and central New York were the top winners in the first competition for $785.5 million in tax incentives.