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It's a historic building if a connected developer owns it.

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Slaughter Announces, At Long Last, A Solution to the Albany Bottleneck, Construction of Rail Second Track to Begin in 2012              
Second Track Will Reduce Travel Time Across All of New York; Progress Also Announced for Projects in the Capital Region

WASHINGTON - Congresswoman Louise Slaughter (NY-2, Founder and Co-Chair of the Bicameral High-Speed & Intercity Passenger Rail Caucus, today announced that the long-awaited double track project in between Albany and Schenectady will begin construction in the spring finally relieving congestion and reducing travel time for rail passengers across the Empire Corridor. Also announced today is funding for the construction of a fourth track at Rensselaer, track improvements between Albany and Poughkeepsie and improvements at the Schenectady rail station.

Today Slaughter announced that $149.3 million awarded to New York State as part of the American Recovery and Reinvestment Act has been obligated and is on its way to the state Department of Transportation allowing construction to move forward.

"We've been talking about the congestion in Albany for the better part of 20 years and today, finally, thanks to federal funding and the work my office has done with the New York Department of Transportation, Amtrak and the Federal Railroad Administration, we can announce that construction will begin next season. I also want to acknowledge CSX's efforts and look forward to a new era of cooperation," said Slaughter.

"This is monumental progress for rail in New York and won't just benefit those residents in Albany. For years trains traveling across the state have been delayed because of the congestion caused in these 20 miles. Passenger rail service will be more reliable everywhere along the Empire Corridor and that's good news for everyone from Buffalo to Boston. Now the only thing standing in our way from construction is some snow and we Upstaters can handle that."

In January 2010, Slaughter announced $151 million was awarded to New York State as part of the American Recovery and Reinvestment Act. Today's announcement of $149.3 million being obligated protects the funding from House Republican-lead attacks to repeal any monies not yet transferred to state governments.

$91.2 million will go towards the second track construction and an additional $58.1 million will help the following projects move forward: construction of a fourth track at Rensselaer, track improvements between Albany and Poughkeepsie and improvements at the Schenectady rail station.

More details on each project are included below.

Slaughter is New York's leading advocate fighting to bring high-speed rail to Upstate New York. In total, New York has received $456.4 million for improved rail and high-speed rail projects thanks to her advocacy.

In 2009, she founded the Upstate Congressional Caucus and last March founded the Bicameral High-Speed & Intercity Passenger Rail Caucus, a bipartisan coalition of lawmakers that serves as the leading voice for high-speed and passenger rail program funding. For more Slaughter's work to bring high-speed rail to Upstate New York, click here.

More on the Projects Moving Forward With Today's Announcement

Albany - Schenectady Second Main Track -- $91.2 million

New York was awarded $91.2 million to reduce approximately 18 minutes of delay at the existing bottleneck located between the Schenectady and Albany-Rensselaer stations between MP QC 143.3 and MP QC 160.3 in Albany and Schenectady Counties.

The project includes improving grade crossings within the project area by upgrading existing warning device systems to include warning signs, automatic flashers, gates and predictors at Lincoln Avenue, Morris Road, and Cordell Rd crossings in Colonie.

Since there were multiple tracks in this section of the corridor previously, the proposed work is entirely within the railroad Right of Way, and no use of public lands is needed. Freight traffic on this section of the corridor is minimal, CSX Transportation runs one round trip train a day and Canadian Pacific runs 1 one-way train trip per day.

Albany-Rensselaer and Schenectady Fourth Track/Station Improvements - $58.1 million

Overall benefits for this project include increased schedule reliability, reduced congestion and interference between freight and passenger trains, and increased capacity and efficiency, resulting in less delay and improved intercity passenger rail operations in this segment of the Empire Corridor. The project benefits also include increased ridership as well as increased frequency of Amtrak service to the Schenectady Station, improved timeliness of rail service, and improved overall quality of passenger experience, all of which provide an outlet for increased modal transit choice. There are three elements to the project:

Section 1 – Albany-Rensselaer Fourth Station Track – Section 1 of this project is currently being progressed with an existing FRA grant for final design. The Conceptual Operating Plan and the preliminary track layout have been approved by the FRA, and a conceptual construction staging plan has been submitted to stakeholders and the FRA for review and approval. The major components of this project are track and platform improvements and signal work. The project is located at the Albany-Rensselaer Station in the City of Rensselaer, NY. The project will benefit Empire corridor Service, with end points of New York City and Niagara Falls, NY, which serves major locations including upstate cities such as Buffalo, Rochester and Syracuse. This project also includes improved service for the Lake Shore Limited (NYC/Boston to Chicago), Maple Leaf (NYC to Toronto), Adirondack (NYC to Montreal), and Ethan Allen (NYC to Rutland, VT) trains. There are currently thirteen passenger roundtrips between New York and Albany, four of which extend west of Albany to Buffalo and points west, one of which that extends north to Montreal, and one of which that extends north to Rutland, VT. In addition, there is one daily roundtrip between Albany and Boston.

Section 2 – Hudson Line Signal Wire Relocation (Phase 2) – Section 2 of this project relocates the signal wires underground and connects with Phase 1 of the signal wire relocation (which was selected for funding under the FY2010 HSIPR program) to the southern terminus of the Albany-Rensselaer Fourth Station Track project. Signal outages from the existing above ground signal wires lead to train delay, a reduction in average operating speed over the line, degradation in Amtrak on-time performance and a reduction in the train capacity of the line. Twenty-four percent of delays on this segment of the Hudson Line are due to outages associated with the above ground signals. Operating safety is reduced by the occurrences of signal outages. In addition, signal system maintenance and repair costs are increased and schedule reliability and locomotive fuel efficiency are reduced due to signal outages.

With the signal improvements associated with this project in place, signal work for the Albany-Rensselaer Fourth Station Track can be effectively tied into the new signal system being constructed as a part of the FRA FY2010 funded signal relocation on the Hudson Line (Phase 1), without the need for either project to tie into the antiquated existing signal system. This Section may also be mobilized at the same time as Phase 1, to be implemented under a separate FRA cooperative agreement.

Section 3 - Schenectady Station Platform and Track Improvements – Section 3 of this project provides a new platform and new track layout at Schenectady Station, located at 332 Erie Boulevard, Schenectady NY. The construction includes: track and platform replacement, waterproofing track deck and platform under track, construction of the northern stairwell, and the infrastructure for the south stairwell and elevator associated with the platform. This Project element will improve structural integrity of the track platforms over the viaduct.

This Project element will play into a larger scope of the revitalization of Schenectady Station and downtown Schenectady, while promoting ridership for Amtrak's intercity passenger rail service, and providing key linkages to other cities within the Empire Corridor and beyond. The revitalized station will support high speed rail service within the Empire Corridor, improve Amtrak on-time performance, increase ridership, and allow for future frequency increases of Amtrak service.

PUBLISHED FRIDAY, SEPTEMBER 23

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Incentive Programs, Forms & Publications

Qualified Empire Zone Enterprises (QEZEs) are eligible for enhanced sales, property, and business tax credits for businesses locating and expanding in such zones. The Empire Zones Program provides companies that increase their employment the opportunity to operate on an almost "tax-free" basis for up to ten years in designated areas of the State.

To participate in the Empire Zone Program, one of the following must be true:

Business is new to New York State
Business is experiencing employment growth
Business is purchasing or constructing production facilities
To calculate potential QEZE Tax credits, Download Excel spreadsheet.

Prior to accessing Empire Zone benefits, you must register with the Schenectady/Glenville Empire Zone.

View Download Registration Form
Enhanced QEZE benefits include:

Sales Tax Exemptions. Qualified Empire Zone Enterprises (QEZEs) receive a 10-year exemption from State sales tax on purchases of goods and services (including utility services) used predominantly in such zone.
Register Using form DTF-82 (For Business certified before August 1, 2002)
Register Using form DTF-83 (For Business certified after August 1, 2002 and before April 1st 2005)
Register Using form DTF-84 (For Business certified on or after April 1st, 2005
Access the credit using form ST-121.6 (.02 mb)
Your contractors may access the credit using form ST-120.1 (.02 mb)
Contractor Exempt Purchase Certificate



Real Property Tax Credit. Qualified Empire Zone Enterprises are allowed a refundable credit against business tax equal to a percentage of real property taxes paid in the zone (effective for taxable years beginning on or after January 1, 2001)
File using form CT-604 same as Income Tax Reduction Credit
Instructions for CT-604 same as Income Tax Reduction Credit



Income Tax Reduction Credit. Qualified Empire Zone Enterprises are allowed a credit against tax equal to a percentage of taxes attributable to the zone enterprise (effective taxable years beginning on or after January 1, 2001).
File using form CT-604 same as Real Property Tax Credit
Instructions for CT-604 same as Real Property Tax Credit

Other Empire Zone Tax Credits and Programs

Wage Tax Credit (WTC). This credit is available for up to five consecutive years for companies hiring full-time employees in newly created jobs. For employees in special targeted groups, this credit equals $3,000 per year, with a credit of $1,500 per year.

Information - see NYS Tax and Finance Publication 26
File using form CT-601
Instructions for CT-601



EZ Investment Tax and Employment Incentives Credit (ITC-EIC). Businesses that create new jobs and make new investments in production, property, and equipment may qualify for tax credits of up to 19% of the company's eligible investment.

File using form CT-603
Instructions for CT-603
Financial Services Industry use form CT-605
Instructions for Form CT-605

Linked Deposit- - Empire State Development offers the Linked Deposit Program, a public-private partnership that provides businesses with affordable capital based on bank loans at reduced interest rates. These bank loans, subsidized by corresponding "linked" state deposits, offer:

The ability for eligible businesses to obtain loans from commercial banks, savings banks, savings and loan associations, and farm credit institutions.
A two to three percentage points savings on the prevailing interest rate for "Linked Loans," to make borrowing less expensive.
A maximum loan amount of $500,000 for two years
Loans - up to $50,000 for:

machinery and/or equipment
real property acquisition
inventory purchase
working.capital
New Business Refund. Business new to New York State are entitled to a 50% cash refund of unused EZ-WTC and ITC amounts. Other businesses may carry forward unused credits indefinitely.

Real Property Tax Abatement. Tax abatements from assessment increases due to new construction or renovation. Increases are limited to 50% of the increase in year one, and increase by 5% per year through year 10.

File using form RP-485-B
Instructions for RP-485-B
Sales Tax Refund. Purchases of building materials to be used for commercial or industrial real property located in an EZ are eligible for a refund of NYS sales taxes. A similar refund of local sales tax may also be available from the locality.

File using form AU-11
PUB-30, A Guide To Sales and Use Tax Incentives within Empire Zones
Technical Assistance .Each local zone office is staffed with professionals qualified to assist businesses locating or expanding in an EZ.

Utility Assistance.

Utility Rate Savings. Special reduced electric and gas rates may be available through Niagara Mohawk, Verizon and other utility providers. Businesses that locate or expand their operations in an EZ may receive significantly reduced rates.

For information, contact you utility provider
Workforce Training. New York State offers training assistance to small and large businesses attempting to meet the challenge of creating new products, entering new markets and improving production. Up to half the cost of any training project that creates or retains jobs. Training in new technologies, new skills or new work processes. Classroom or on-the-job training.

For information on any of the above mentioned programs, contact the zone coordinator
                 Other New York State Tax and Finance Information

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Resource Agencies

City of Schenectady
Schenectady Local Development Corporation
City of Schenectady Industrial Development Agency
Schenectady County
Schenectady County Community Business Center
Schenectady Metroplex Development Authority
Schenectady County Industrial Development Authority
Schenectady County Chamber of Commerce
Jobs Etc.
Capital Region
Capital Region World Trade Center
New York Business Development Corporation
New York State
Empire State Development Corporation
Empire Zone Program
New York State Department of Tax and Finance
New York State Department of Labor
Schenectady Local Development Corporation

Chartered in 1978 to benefit small business in the City, the Schenectady Local Development Corporation (SLDC) is dedicated to providing businesses with the expertise needed for stability and growth.

City Hall, Jay Street
Schenectady, New York 12305
Att: Steve Strichman, Empire Zone Coordinator and Zoning Officer
Ph: (51 382-5147
Fax: (51 382-5275

City of Schenectady Industrial Development Agency

Center City Plaza
Schenectady, New York 12305
Att: Jayme Lahut, Executive Director
Ph: (51 377-1109
Fax: (51 382-2575

Schenectady County Industrial Development Authority

Center City Plaza
Schenectady, New York 12305
Att: Jayme Lahut, Executive     Director
Ph: (51 377-1109
Fax: (51 382-2575

Schenectady Metroplex Development Authority

Mission: To enhance the long-term economic vitality and quality of life in Schenectady County by cooperative, purposeful actions and investments within the Metroplex corridor with particular emphasis on downtown.

Metroplex is a unique funding mechanism that has no regional comparison.

Legislation established the authority in 1998 as a public benefit corporation. The enabling statue allows the Authority to design, plan, finance, site, construct, administer, operate, manage and maintain facilities within its service district. The Metroplex Strategic Planning committee established three criteria to guide Metroplex projects and efforts: expanding the county’s property tax base; expanding the sales tax base; and creating and retaining jobs.

Center City Plaza
433 State Street
Schenectady, NY 12305
Attn: Ray Gillen, Chairman
Ph: (51 377-1109
Fax: (51 382-2575

Schenectady County Community Business Center

Mission: To encourage and support the development, growth, success and ultimate graduation of small businesses in Schenectady County.  By providing a comprehensive package of training, counseling and business and technical assistance services, leased space and shared services we hope to generate long term economic growth and job creation within the community of the incubator and within the entire county.

920 Albany Street
Schenectady, New York 12307
Scott Cietek, Executive Director
Ph: (51 382-3069
Fax: (51 688-2028

Schenectady County Chamber of Commerce

Mission: To create a strong business climate throughout Schenectady County while providing valuable member services.  To find out more about our services and membership, click here.

306 State St.
Schenectady, NY 12305
Attn: Charles Steiner, President
Ph: (51 372-5656
Fax: 51 370-3217

Jobs Etc.

Mission: To work with consortium member agencies to identify employment and training opportunities and then connect community residents especially low and moderate-income families, to those opportunities. We will guide participants through the job search process to job placement as well as provide post placement services to foster job retention.

954 Albany Street
Schenectady, NY 12307
Ph: (51 347-2562
Fax: 51 347-0701

Capital Region World Trade Center

Mission: To promote, educate and assist companies in developing opportunities in international trade an investment in order to grow their business and enhance the region’s economic base.

400 Granite Road
Kerhonkson, NY 12446

http://www.crwtc.org

email:  info at crwtc.org
Ph: (51 605-6000  
Fax: (51 694-8678

New York Business Development Corporation

New York Business Development Corporation's mission is to provide creative and innovative financing to small businesses across New York. Companies use these loans to purchase equipment, land and buildings, and for working capital to help them grow and prosper. Equally important, jobs are created and communities are rejuvenated, assisting in the growth of our entire state's economy.

New York State

Empire State Development Corporation

Empire State Development Corporation – Empire Zone Program

New York State Department of Tax and Finance

New York State Department of Labor

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Zone News

SCHENECTADY/GLENVILLE EMPIRE ZONE COMING TO YOUR AREA

In January 2006, the boundaries (link "boundaries" with zone map) of the Empire Zone, because of a change to New York State Law, were amended to encompass three "distinct and contiguous areas".


In the City of Schenectady, the Zone includes:

The Central Business district
Erie Boulevard, Maxon Road Extension and Technology Drive
Broadway from the Central Business District to the Congress Street
Intersection
The Albany-State Street Corridor from the Central Business
District to Fehr Avenue

In Glenville
O The Route 5 Industrial Park area

In Rotterdam
O Much of the Rotterdam Commerce Park and former Channel 17 lands

If your business has Empire Zone certification, but in not located in the new empire zone boundaries, it is grand-fathered into the program, and may continue to participate, however, the following are not eligible:

Your business, if you reorganize and change your Federal ID number
Any expansion of your business
New tenants
New owner
On October 23rd, 2001 the boundaries of the Empire Zone changed to bring incentives to businesses that need them most. Mont Pleasant and the Route 5 corridor have been added into this pro-business New York State Program that was previously limited to the Central Business District, Hamilton Hill, and the Industrial Parks of the City and Glenville.

Businesses that are increasing their employment, or investing in their facility are eligible to receive the following benefits:

Wage Tax Credit - $1,500 - $3,000 per new employee
Sales & Use Tax Exemption - ten year exemption from state sales and use taxes
Tax Reduction Credits - up to 100% of New York State Income Tax
Real Property Tax Credit - up to 100% of real property taxes
Low Interest Equipment Loans - 5% initial rate
Investment Tax Credit - 10% credit for manufacturers constructing or buying facility
Non-profits - donors eligible for a 25% tax credit
To find out more about the benefits, visit our incentives page.

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Demographics / Schenectady County Chamber / City Web page     

About Schenectady

A few reasons why Schenectady is the ideal business location:

Geography: Schenectady is centrally located in the Mohawk Valley of eastern New York, 160 miles north of New York City, 180 miles west of Boston, 280 miles northeast of Philadelphia, and 220 miles south of Montreal. Within a 500 mile radius is 42% of the U.S. population, 67% of the Canadian population, and over half of all U.S. manufacturing facilities.

Highway Connections: Schenectady is conveniently located on three major interstate highways and numerous state routes.

Rail Service: Schenectady is the only major upstate city that has rail transportation located in the heart of its downtown. It is served by Conrail, the Boston and Maine, and the Canadian Pacific, it is minutes from Conrail's major switching and piggy-back terminal at Selkirk. Amtrak provides passenger service.

Air Service: Schenectady is minutes from the Albany International Airport with 12 airlines and direct flights to 42 cities. The Schenectady County Airport is a full-service, general aviation airport with a tower and two fixed-base operato