N.Y. COM Law § 421

§ 421. Statement of legislative findings and declaration. It is hereby\nfound and declared that New York state needs, as a matter of public\npolicy, to create competitive financial incentives to retain strategic\nbusinesses and jobs that are at risk of leaving the state due to the\nimpact on its business operations of an event leading to an emergency\ndeclaration by the governor. The empire state jobs retention program is\ncreated to support the retention of the state's most strategic\nbusinesses in the event of an emergency.\n This legislation creates a jobs tax credit for each job of a strategic\nbusiness directly impacted by an emergency and protects state taxpayers'\ndollars by ensuring that New York provides tax benefits only to\nbusinesses that can demonstrate substantial physical damage and economic\nharm resulting from an event leading to an emergency declaration by the\ngovernor.\n