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Start-Up New York Creates a tax-free initiative

By ALLISON NORLIAN

ONEONTA, N.Y. (WKTV) - Governor Cuomo's local tax-free initiative was ratified by the Senate and the Assembly on Friday; the mission is called Start-up New York.

Participating companies in Start- Up NY will not pay any business, corporate, sales and property taxes for ten years to New York state.

Matthew Driscoll, President and CEO of New York State Environmental Facilities said this is a way to get businesses into New York and start rebuilding our local economy.

"If a company comes from Indiana and are not in area and they come here and are now hiring people who live locally and are employed, those people are now working, buying stuff, shopping," Driscoll said. "It's really a benefit for challenged upstate communities."

Businesses that are eligible for the initiative include start up companies, companies that are out of state and relocating to our area and companies in the state that are looking to expand and create new jobs.

These businesses would not pay any business or corporate, sales and no property tax for ten years.

"This program, specifically, is meant to attract employers from other states that want to view New York State as an opportunity to grow their business and come here and create jobs," Driscoll said.

Businesses that would not be eligible are retail stories, restaurants and wholesale businesses.

"Starbucks couldn't come here on the campus at Oneonta and open the store.," Driscoll said. "That's not allowed."

The colleges involved in the program are SUNY schools, CUNY schools and certain private colleges and universities.

Interested businesses can apply directly to the participating college they want to locate on or near and once it is accepted, Empire State Development will have 60 days to review the application and ensure eligibility.

December 31, 2020 is the cutoff to enter the program.

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