Good news could be coming for one Mohawk Valley business seeking Empire Zone status.

Power Pallet, a business that recycles and repairs wooden shipping pallets for other businesses, has plans to expand.

Officials with the area's Empire Zone program said the business has submitted an application for Empire Zone status.

If granted, this means the business will be given special tax incentives, financing and utility rate discounts.

In return, officials said the business will invest about $1.1 million to bring in new equipment and create about 50 new jobs.

But there are a couple of things that have to happen first. Officials said that after the state agrees to the designation, a local law to support the business's goal must be passed by the Town of Amsterdam.

The entire application process is expected to take another couple of months.

If successful, Power Pallet will be the second business in Montgomery County to get Empire Zone designation.

Cellect LLC in Saint Johnsville, a foam making business, was the first to get status over the summer.