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Rochester International Council |
Department
of State Visitors - Industrial & Economic Revitalization |
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Rochester
is located on the northeast edge of the rust belt. Although major corporations
such as Bausch and Lomb, Kodak and Xerox have maintained modern manufacturing
facilities, some smaller corporations that are vital to the economic
vitality of the area, did not and have a continuing need to modernize
in order to remain competitive. These corporations face many of the
same difficulties found in other countries, particularly in eastern
Europe. New York State, Monroe County and the City of Rochester are all making efforts, many cooperative, to assist businesses to modernize facilities and equipment, train and recruit workers and reduce regulations and corporate taxes. Representatives from numerous agencies are willing to meet with international visitors and discuss successes and failures in their programs, as well as plans for the future. The Monroe County Department of Planning and Development aids local companies and those considering relocating here by assigning project managers to customize assistance packages. The project managers analyze needs and assist with program and loan applications, and compliance issues. Foreign trade zones have been established which exempt businesses from U. S. Customs duties and excise taxes on goods exported from the zone. Financing is available through programs including the County of Monroe Industrial Development Agency, Monroe County Industrial Development Corporation, Empire State Development and the United States Small Business Administration. Manufacturers which invest $1 million plus and create 25 new jobs over three years can realize a 70% tax abatement over the first five years on new real property improvements. Corporate taxes, including workmens compensation, once among the highest in the nation have been significantly reduced. Competition recently introduced in the utility industry has created lower energy costs. The Manufacturing Training Voucher Program targets funds for training and increasing the competencies of workers for both existing employees and new hires. State
and local regulations have been and continue to be examined and modified
to be more conducive to industrial growth.
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