Businesses Created 76 Jobs Under Start Up NY Program
ALBANY, N.Y. (AP) — The state agency responsible for economic development across New York says companies last year created 76 of the nearly 2,100 new jobs promised over five years in return for tax breaks under the Cuomo administration's Start-Up NY program.
The first annual report from the Department of Economic Development says 30 companies began operating in 2014 among 54 initially approved for the program.
According to the report, they made $1.7 million of some $91 million investments promised over five years as part of Start-Up NY. The program has established 356 tax-free zones at 62 colleges and universities that act as sponsors.
The agency says another 26 businesses have been approved so far this year, while 12 have withdrawn applications.
Industries participating in the program include biotechnology, software and manufacturing.