The first round of companies that will start or relocate to the State of New York as part of the StartupNY initiative were announced today during a media event held in Rochester, New York. These companies will take advantage of special tax-free zones near New York colleges and universities. The 12 businesses are projected to invest $50 million and create nearly 400 new jobs.
The first group of companies will be targeting several industries including biotechnology, biopharmaceuticals, advanced manufacturing, high-technology research and development, and software development.
Aesku NY, Inc., CoachMePlus (Virtuvia, LLC), Clearview Social, Inc., Decision Pace, Inc., Heads Up Display Inc., Lineagen, Inc., Nupur Technologies, LLC, and Sinapis Pharma, Inc. will be sponsored by the University at Buffalo.
Datto, Inc. will be sponsored by the Rochester Institute of Technology.
Incodema3D, LLC will be sponsored by Cornell University.
Americord Registry, LLC, and Modern Meadow, Inc. will be sponsored by SUNY Downstate Medical Center.
Under START-UP NY, interested colleges and universities draft campus plans that identify their goals for the program and the space that they are proposing to designate as tax-free, as well as the types of businesses and industries that they are seeking to attract through the initiative. Public colleges and universities, including SUNY, provide their plans to community stakeholders for a 30-day comment period before submitting the plans, which are then approved in consultation with the SUNY Chancellor. CUNY plans, after a 30-day comment period, also are reviewed and approved.
“START-UP NY takes New York’s number one liability – our tax capital reputation – and turns it on its head by offering companies zero taxes for 10 years, as well as access to all the assets of the Empire State, particularly the talent and research capabilities of our world-class universities,” Governor Cuomo said.