Gov. Cuomo has made his Tax-Free NY proposal his top legislative priority for the end of the 2013 legislative session.
Tax-Free NY, first announced last week, is aimed at Upstate economic development. The goal is to “transform university communities into magnets for new businesses and investment” by “enticing companies to invest in Upstate New York” by enabling “new businesses [with] the opportunity to operate completely tax-free – including no income tax for employees, no sales, property or business tax – for a decade, while also partnering with the world-class public and private higher education institutions.”
See the Governor’s presentation on the program here.
Unshackle Upstate loves the idea of “tax-free” zones. But if we really want to improve the Upstate economy, it is critical that Albany provide tax relief and regulatory reforms for the businesses and working people who are here today, and whom we do not want to see leave.