Binghamton University to sponsor five new businesses under START-UP NY
BINGHAMTON, NY – Five businesses will expand or locate within tax-free zones at Binghamton University as a result of START-UP NY, Gov. Andrew Cuomo’s initiative to offer new or expanding companies and business ventures the ability to operate completely tax-free in areas on or connected to SUNY campuses. The five businesses are projected to invest $2.3 million and create more than 83 new jobs.
"Today’s announcement is another confirmation of the fact that START-UP NY is working – attracting cutting-edge businesses, jobs and new investments to Upstate communities like Binghamton," Cuomo said. "By offering new companies the opportunity to tap into New York’s world-class workforce and thrive in a tax-free environment, we have made another game-changing move to redefine the business climate in our state. I am pleased to welcome these five new companies to the START-UP NY program, and I look forward to seeing them grow and create new opportunities for New Yorkers well into the future."
These START-UP NY businesses will create jobs in several key industries, including biotechnology research and development, analytical laboratory instrument manufacturing, chemical manufacturing, audio and video equipment manufacturing, and software services. The businesses approved for START-UP NY are Advanced Material Analytics, LLC; Charge CCCV, LLC; ClickCare, LLC; Innovation Associates, Inc.; and Sonic Blocks.
"Binghamton University is quickly becoming a hub for innovation, and Gov. Cuomo’s START-UP NY program is already helping to advance our mission with the five businesses announced today," said Binghamton University President Harvey Stenger. "These companies represent the types of industries that will be driving our region forward in today’s global economy, while creating more than 80 jobs in the Greater Binghamton area right now. We are thrilled with this first slate of companies, but it is only the beginning, and we look forward to bringing more businesses, and jobs, to the Southern Tier."
"The promise of Gov. Cuomo’s START-UP NY economic development strategy is now a reality in Binghamton and the Southern Tier, and the momentum will keep building as additional companies are approved at SUNY campuses across New York," said SUNY Chancellor Nancy L. Zimpher.
"These initial START-UP NY companies fully align with the strengths and expertise of Binghamton University faculty and students, and will be a catalyst for innovation, job growth and economic activity throughout the region."
"Whether it’s the Downtown Center, the Innovative Technologies Complex, the new pharmacy school or the high-tech incubator, we're doing our best to maximize Binghamton University’s potential to be the economic powerhouse and career creator we need in our community," said Sen. Thomas W. Libous.
"This is exciting news for Binghamton University and our community," said Assemblywoman Donna Lupardo. "Not only do these five businesses align with Binghamton University’s strategic vision and research and development focus, but they will help to enhance our region’s emerging innovation economy."
"Having these companies on campus is an asset to the University that will allow for real-world learning opportunities for our students with regard to technology development and entrepreneurship, and create synergies with our faculty," said Per Stromhaug, executive director for entrepreneurship and innovative partnerships.
About START-UP NY
START-UP NY seeks to accelerate entrepreneurialism and job creation across the state on a large scale, with a particular focus on Upstate New York. The State University of New York (SUNY) campus system, City University of New York (CUNY), and private university and college communities serve as the framework of the START-UP NY program to attract high-tech and other start-ups, venture capital, new business and investments from across the globe. Under the program, businesses have the opportunity to operate tax-free for 10 years on eligible land and space. Businesses partner with the higher education institutions and are able to access industry experts and advanced research laboratories.
Under START-UP NY, interested colleges and universities draft campus plans that identify their goals for the program and the space that they are proposing to designate as tax-free, as well as the types of businesses and industries that they are seeking to attract through the initiative. Public colleges and universities, including SUNY, provide their plans to community stakeholders for a 30-day comment period before submitting the plans to Empire State Development, which, in consultation with the SUNY Chancellor, reviews the plans for final approval and designation of tax-free areas. CUNY plans, after a 30-day comment period, also are reviewed and approved by ESD. Plans submitted by private schools are reviewed by ESD and presented to the START-UP NY Approval Board for final approval and tax-free designation.
For more information, contact Binghamton University’s Office of Entrepreneurship and InnovativePartnerships at email@example.com or 607-777-5870.