MAYOR, BERC, AND BUFFALO COMMON COUNCIL SUBMIT EMPIRE ZONE APPLICATION

Buffalo, NY- In a strategic move designed to stimulate economic growth and capture sustainable prosperity, Mayor Anthony M. Masiello, the BERC and members of the Buffalo Common Council gathered at the Buffalo Niagara Airport to submit Buffalo's second Empire Zone application to New York State. While the City of Buffalo currently has one two mile Empire Zone, the application seeks designation of a second two mile Empire Zone. Zone benefits are substantial and include unparalleled financial incentives: sales tax rebates, property tax abatements and utility discounts. Zone benefits are particularly advantageous for start-up companies, a strong selling point for Buffalo's recent influx of technology start-ups.

In 1999, Buffalo's existing Empire Zone sparked investments of $46 million and helped create 1340 jobs. Companies receiving Zone benefits include Chek.com, Digicon Imaging, Empire Brewing Company, Honeywell International and Allied Signal.

As Buffalo's landmass is 40 square miles, the addition of a second Zone will dramatically improve the ability to provide incentives and advantages to current and emerging companies.

"To catalyze the level of growth and investment in Buffalo, we need a second Empire Zone," said Mayor Anthony M. Masiello. "Our current designation is a powerful and compelling tool for business development and we have seen its tremendous results. We can leverage--and build upon--this positive economic trend by increasing the size of our Zone. Furthermore, the attraction efforts of the Buffalo Niagara Enterprise will be immeasurably bolstered by Buffalo's competitive Zone advantages."

A strategic approach was used to define the new Empire Zone by looking at Buffalo's existing assets and future opportunities. The boundaries for the proposed zone were established using these underlying principles. The BERC, authors of the application, met regularly with Common Council members and solicited public feedback via a letter writing campaign to establish Zone boundaries. A series of goals were founded as the underlying guide to designing the new Empire Zone boundary. They are as follows:

· Stimulate business development in neighborhood commercial districts. Neighborhood business districts are community anchors that advance neighborhood stability and prosperity.

· Industrial areas are strong potential economic generators. These areas represent segments of the city for business clusters and jobs.

· Retention of existing businesses is critical

Spring 2001 is the expected date of notification of Zone designation.