Tax Breaks For Businesses Tied to SUNY
New York Governor Andrew Cuomo is proposing the creation of tax free zones for start-up businesses that tie to State University of New York campuses outside of New York City. The proposal would provide full tax credits to the new businesses in the designated entrepreneurial zones.
Some details about the two to five year initiative were not included in the Governor’s announcement, including just how much it would cost.
The New York State Association of Counties has applauded the idea, saying the program would attract businesses and grown jobs in several communities.
However, officials with the Civil Service Employees Association said the idea would just extend tax incentives to businesses while continuing to cut state funding to local governments and agencies serving the developmentally disabled.
There were also questions raised about the impact of such a program on businesses that may want to start up in New York, but don’t want to be tied to SUNY schools.