Who is START-UP NY for?
TO PARTICIPATE IN THE START-UP NY PROGRAM, YOUR COMPANY SHOULD:
Be relocating or expanding to New York State from in or out-of-state or internationally, to a college or university campus that aligns with your business specialty, and be able to create new jobs for the local community.
COMPANY NEW TO NEW YORK STATE
In order to be eligible as new to New York State, the business must not be operating or located within the state at the time it submits its application to participate in the START-UP NY program. Also, the business must not be moving existing jobs into the tax-free New York area from another area in the state, as well as not have caused individuals to transfer from existing employment with a related person located in the state to similar employment with the business, unless upon approval from the commissioner.
COMPANY FROM NEW YORK STATE
In order to be eligible as from New York State, the business must be an expansion of a company that already has employees in New York State. Expanding businesses applying for START-UP NY will have to demonstrate that they are creating new jobs and not moving existing jobs from elsewhere in the state.
BUSINESS AND ACADEMIC ALIGNMENT
The mission and activities of the business must align with or further the academic mission of the campus, college or university sponsoring the tax-free New York area in which it seeks to locate, and the business's participation in the START-UP NY program must have positive community and economic benefits.
CREATION OF NEW JOBS
After its first year of operation, the business must maintain net new jobs. The average number of employees in the state during the year must equal or exceed the one from the preceding year of its application to locate in a tax-free New York-area. The average number of employees of the business and its related persons in the state is determined by adding the total number of employees of the business and its related persons in the state on March 31st, June 30th, September 30th, December 31st, and dividing the total by the number of such dates occurring within the year.
GIVING BACK TO THE COMMUNITY
The participation by the eligible types of businesses in the program would generate positive community and economic benefits, including but not limited to:
- Increased employment opportunities
- Increased opportunities for internships, vocational training and experiential learning for undergraduates and graduates
- Diversification of the local economy
- Environmental sustainability
- Increased entrepreneurship opportunities
- Positive, non‐competitive and/or synergistic links to existing businesses
- Effect on the local economy
- Opportunities as a magnet for economic and social growth
START-UP NY is one of many business incentive programs offered by New York State. A list is available at: www.esd.ny.gov/BusinessPrograms.html