Historically the Village of Newark and the surrounding area have been heavily involved in Agriculture. This abundance of farming made it possible for Newark to become a shopping center for a large area surrounding the village. Today farming still is a major contributor to the Newark area, fruit orchards are prevalent to the north and grapes are abundant to the south. Interspersed throughout the area are cash crop farms dealing in corn, soybeans, cabbage, beans and wheat. There is also a large number of dairies and some farms that raise beef and buffalo.
Over the years, Newark’s economy has evolved. With farming and shopping came manufacturing. Today our economy continues to expand. We are blessed with an abundance of water, land availability, good transportation systems, a willing workforce and the availability of smart and dynamic people. Rochester and Syracuse both graduate a large number of business and technical experts, and both urban economies train many excellent workers in their business entities. Also Rochester and Syracuse both provide jobs for Newark commuters, the drive to either city is under one hour.
Newark is eager to attract growing, non-polluting new businesses. We have developed an infrastructure that is friendly to business. Several benefits and tax incentives exist to help attract new businesses. There are a combination of State and local incentives which are available to businesses that relocate or expand in Newark. A list of the most frequently used incentives follows, while a detailed listing can be tailored to individual needs on request.
Local Programs:
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Newark Community Development Funds: - These are low interest loans and/or grants for job creation available for companies locating in Newark.
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Wayne County IDA Revolving Loan Fund A low interest loan program covering up to 20% of the total project cost: A fixed rate of approximately 70% of prime is Normal
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IDA Tax Incentive Program: A real property tax incentive for expanding manufacturing industries.
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Business Property Tax Exemption: This exemption is available for county, town, village and school district taxes
State Programs:
Tax Incentive Programs:
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Investment Tax Credit: A manufacturer making significant investments in New York State can receive investment tax credits that will reduce its effective tax rate.
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Corporate Franchise Tax Allocation Percentages: Business corporations are subject to tax only on the portion of their activities which are attributable to activities in New York State.
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Sales Tax Exemptions: Within various guidelines, exemptions are available for utilities, machinery, equipment, parts, tools, labor, industrial waste treatment, delivery transportation, storage and maintenance.
**New York State has no unitary tax AND there is no state or local tax on property or inventory.
Newark has an industrial park located just north of the canal. It is the home of several medium and small manufacturing and service companies. The area is zoned such that the aura of Newark will be protected. It is in a pleasant rural setting with easy access to the main roads. Water, sewer, gas and electric are currently available throughout the park.
The park encompasses 105 acres of which 37 are already being used. Newark has been willing to grant concessions on these properties in the past if certain job creation values are reached. For more information contact the Village Clerk at 331-4770.
A local developer has recently created Silver Hill Technology Park which is one of New York’s “Shovel Ready” sites created for new industrial, commercial and warehouse/distribution facilities. The aim of the park is to offer short lead times to new companies by taking care of regulatory requirements up front. The park contains many acres of which some are currently occupied. For information click on Silver Hill Associates, LLC.
Your Jobs + Our Land
leads to our growth --- leads to your success
For more information on the development of sites in the Village of Newark
Lee Mikewicz
Village Clerk/Treasurer
lmikewicz@villageofnewark.com
(315)331-4770
Mark Peake
Code Enforcement Officer
mpeake@villageofnewark.com
(315)331-4770
John Trickey
Village Clerk/Treasurer
jtrickey@villageofnewark.com
(315)331-4770
Chris Avery
Trustee
cavery@villageofnewark.com
(315)331-4770
