SUNY Could Be Tax-Free Haven for Start-Ups

ALBANY-The Cuomo administration cites the College of Nanoscale Science and Engineering here as a model of the job growth that can result from commercial and academic collaboration.

By Paul Bubny | Updated on May 23, 2013

ALBANY-Gov. Andrew Cuomo plans to boost the state university system’s potential for attracting startups and investment by making college campuses into tax-free zones for new businesses. That includes no income tax for employees, and no sales, property or business taxes for the first 10 years.

The Cuomo administration’s Tax-Free NY program would apply to unused space at all SUNY campuses outside of New York City and designated private colleges north of Westchester County, as well as up to 200,000 square feet surrounding the campus. It’s intended for both out-of-state-business relocating to New York State and in-state businesses that are expanding.

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