Empire State Development and Governor Andrew Cuomo’s START-UP NY approval board have endorsed SUNY Buffalo State’s START-UP NY plan.
Governor Cuomo’s START-UP NY initiative establishes tax-free zones on college campuses as an incentive to bring new companies and jobs to New York State. Any business that locates new jobs on a START-UP NY campus will be eligible to operate tax-free for 10 years, including local companies looking to expand and new local start-ups.
Buffalo State’s plan provides 24,000 square feet in Buckham Hall for approved START-UP NY businesses, which must be aligned with the college’s academic mission to receive the tax incentives. The plan requires that participating businesses provide internships and experiential learning opportunities for Buffalo State students; provides opportunities for faculty members and entrepreneurs to share intellectual capital; and leverages the expertise of the college’s Small Business Development Center.
Interim President Howard Cohen told the Buffalo News last week, “I think this could give us a real presence in the economic development of the region.”
Cohen said college officials have been in contact with at least 35 companies interested in partnering with Buffalo State.
Read more about the college’s START-UP NY efforts in Saturday’s Buffalo News.