The New York Youth Works Tax Credit program was signed into law by Governor Andrew M. Cuomo last month on December 9th. The program’s hiring credit is effective for qualifying at-risk youth hired between January 1 and July 1, 2012.
The Business Council of New York State has published a detailed facts sheet describing the program’s eligible employers and employees and the amounts and terms attached to the tax credits. The fact sheet is available on the Council’s website.
Governor Cuomo issued a press release at the time the legislation was signed. The following excerpts are drawn therefrom.
Governor Andrew M. Cuomo today signed a bill creating “NY Youth Works,” an inner city youth employment program that will combat high unemployment in the state’s metro areas. The new law includes $25 million in tax credits for businesses that hire unemployed and disadvantaged youth and $62 million to support job training programs.
The NY Youth Works program provides $25 million in tax credits to benefit employers that hire unemployed youth over the first six months of 2012, with the ultimate goal of permanent, unsubsidized employment. . . . Eligible participants for the jobs program include unemployed, low-income youth aged 16 through 24 who are located in one of the following areas: Albany, Brookhaven, Buffalo, Hempstead, Mount Vernon, New Rochelle, New York City, Rochester, Schenectady, Syracuse, Utica, and Yonkers.
