Global Trade Alert

In 2009 state and local governments in New York provided an incentives package to Canon for an imaging company headquarters for North America and South America. The subsidies included Empire Zone tax credits worth an estimated $45 million; $35 million in property tax abatements and sales tax exemptions from the Suffolk County Industrial Development Agency; and infrastructure assistance, including extra lanes on service roads leading to the Long Island Expressway. 
 
The GTA includes state guarantees and other financial incentives thatare likely to affect the restructuring and performance of firms facinginternational competition, whether from imports, in export markets, andfrom foreign subsidiaries.