Tryon Economic Transformation Area

Program Background:

As part of the 2011-12 State Budget, the Economic Transformation Area (ETA) Program was created. This program was created to assist communities impacted by the closure of state prisons and juvenile facilities. The Tryon Girls Facility, located in the Town of Perth in Fulton County, was one of the State’s juvenile facilities closed by Governor Cuomo.

As a result, the Commission of Empire State Development (ESD) created an ETA for the former Tryon Campus in September 2011. The Tryon ETA includes all areas within a 15-mile radius of the former Tryon Campus and includes a majority of Fulton County, as well as portions of Montgomery, Saratoga, Schenectady, and Hamilton Counties.

Qualifying Businesses:

In order to qualify for the benefits available from being in an Economic Transformation Area (ETA), a business must:

  • Be a “new” business.
  • Create at least five (5) “new” jobs.
  • Have a benefit-cost ratio of at least 10:1.
  • Be in compliance with all worker protection and environmental laws and regulations
  • Be located wholly within the ETA

A business must apply to the Commissioner of ESD for certification on or before January 1, 2015.

Certain business types are excluded from certification:

  • Retail only with respect to on-site sales to customers
  • Licensed professional services businesses
  • Real estate holding companies and landlord leasing space for retail businesses or licensed professionals

A business applying for certification must agree to not participate in the Empire Zones Program, Excelsior Jobs Program, or claim any tax credits under the Brownfield’s Cleanup Program with respect to the facility in the ETA.

Qualifying businesses can receive the following tax credits:

  • Jobs Tax Credit
  • Investment Tax Credit
  • Job Training Tax Credit
  • Real Property Tax Credit
  • Sales Tax Refund

For a complete listing of qualifications and benefits, click HERE

Application:

Businesses interested in becoming certified must complete and submit a Consolidated Funding Application (CFA). The CFA must be submitted to:

  • Mohawk Valley Regional Economic Development Council
  • Empire State Development’s Mohawk Valley Regional Office

CFA Applications will be accepted on a continual basis.

Click HERE for a link to the CFA Application