NYS Regional Economic development

The 2013 Regional Economic Development Council Awards have been announced and the Designated Business Incubators and Innovation Hot Spots have been identified. These Business Incubators and Hot Spots will have a large role in The START-UP NY initiative.

New York State is rolling out the third round of Regional Economic Development Council Initiatives. START-UP NY focuses on university industry partnerships and commercialization of new technology. Regulations have been published, an interactive portal to contact ESD is live, and the FUZE Hub portal about resources for manufacturers is operational. The START-UP NY program encourages the creation of new jobs in New York State. The initiative creates tax-free zones across the state for new and expanding businesses. If they qualify, businesses can operate 100% tax-free (no business, corporate, state or local taxes, sales and property taxes, or franchise fees) for 10 years. The awards are administered through the regional economic development councils. The full list of 2012 Regional Economic Development Council awards can be found here.

More details about the START-UP NY program are outlined in a memorandum prepared by Hiscock and Barclay. Check it out here.

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