Jerusalem- Prime Minister Benjamin Netanyahu's cabinet today approved a measure intended to encourage the return of the more than 750,000 Israeli expatriates living abroad.

According to a 2009 study commissioned by the UJA 41,000 Israelis currently reside in New York City.

The government's goal is to bring back at least 15,000 Israeli citizens per year with a combination of tax breaks, medical assistance and education and national insurance benefits.

The plan is to be operated by the Immigrant Absorption Ministry, the Finance Ministry and the Prime Minister's Office.

Netanyahu expressed his unreserved support for the initiative, meant to assist the return of those who the premier described as "our bone and our flesh."

"A certain turning point is currently taking place," declared Netanyahu.  Many expatriates "left Israel due to the absence of possibilities and some would like to come back due to the existence of possibilities since the Israeli economy seems better than others, including those of developed countries."

The incentives will only be offered for a limited time said Netanyahu, declining to specify how long a period that might be.

The Prime Minister called on Israelis with family living abroad to "contact your relatives about today's decision and tell them that it is not only right, but worthwhile, to return to the country, and bring them back."

During the early years of the State of Israel, emigrants were derisively termed "yordim," literally those who go down [from the land], and were spoken of with scorn and derision. However, Israeli attitudes have relaxed over time and expatriates have gained greater respect in Zionist circles.

The Immigrant Absorbtion Ministry announced on Wednesday that expatriates living abroad for a period of more than six years will receive "new immigrant" status on their return to Israel.

The plan is said to cost $25,000,000 according to a report by Ynet News.

Israel Correspondent Samuel Sokol can be contacted at Sam@5TJT.com or at SamuelSokol5tjt@gmail.com.