Last week, Gov. Cuomo announced that 17 companies have joined the START-UP NY program, which offers new and expanding businesses the opportunity to operate tax-free for 10 years on or near eligible university or college campuses in New York State.
The 17 companies have committed to creating 343 new jobs in the state, and to invest almost $13.5 million. This brings the total number of businesses participating in the START-UP NY program to 110, representing commitments to create nearly 3,150 new jobs and invest more than $186 million throughout New York State.
The START-UP NY program, which was created in 2014, has been criticized for creating relatively few jobs. Administration officials have defended the program, saying that it should be evaluated over the long term, not just its first year.