Editing Troy in the Cold War (section)

=Impact on the City=

The defense industry had a significant impact on the city of Troy during the Cold War. The industry created a large number of jobs, which helped to fuel the city's economy. The city's population grew during this time, as people moved to the area to take advantage of the job opportunities that were available.

However, the city's reliance on the defense industry also made it vulnerable to changes in the political and economic climate. When defense spending was reduced in the 1970s and 1980s, many of the companies in Troy that were dependent on the industry were forced to downsize or close, resulting in job losses and economic decline.

In 2009, the city of troy passed general legislation giving qualifying cold war veterans exemption from paying property taxes up to 10% of the assessed property value but not exceeding $8,000. The legislation further states that any veteran with a disability who receives aid from the department of veteran affairs shall be exempt from taxation by 50% of the assessed property value but not exceeding $40,000. [4]