The State’s much-advertised START-Up NY program released its 2015 report last week nearly 3 months late. Unfortunately the delay did not result in positive news for taxpayers or Upstate communities.
While having the benefit of being backed by tens-of-millions of dollars in marketing efforts, the tax-free incentive program only managed to attract 330 jobs to New York State in 2015. Many areas of Upstate (Central New York, The North Country, The Southern Tier, the Mohawk Valley, and The Mid-Hudson) saw just a handful of jobs added to their local economies from START-Up NY enrolled businesses.
While we remain conceptually supportive of leveraging Upstate’s higher education assets for economic growth – a stated goal of START-Up NY – perhaps it is time for the state to honestly pursue broad-based regulatory relief as its long-term economic development strategy.