Start Up NY @ Binghamton University
START-UP NY (SUNY Tax-Free Areas to Revitalize and Transform Upstate NY) is Governor
Cuomo's initiative to transform SUNY campuses and other university communities across
the state into tax-free communities for new and expanding businesses.
Businesses will be able to locate in these zones and operate tax-free for 10 years. The program includes exemption of the following taxes:
- New York State income tax
- New York State or local business or corporate taxes
- New York State sales tax
- New York State property tax
- New York State franchise fees
Businesses will have access to resources of world-class higher education institutions,
including industry experts and advanced research laboratories.
Universities and colleges will become tax-free communities that provide their students and teachers access to real-world, cutting-edge business experiences.
Who is Eligible?
Different types of businesses are eligible. In order to participate, businesses need to support the academic mission of the college or university with which they work.
Every business must create net new jobs in order to participate by:
- Being a new start-up company; or
- Being a company from out-of-state that is relocating to New York State; or
- Expanding as an existing New York State company. For example, a company creating a new line of business or opening a new advanced manufacturing facility, and not simply moving existing jobs from one location to another within New York State.
Certain types of businesses are excluded from the program, including retail and wholesale
businesses; restaurants and hospitality; professional practices such as law firms
and medical practices; and energy production and distribution companies.
Partnering with Binghamton University
Industry partners and incubator tenants will have an opportunity to establish and maintain close contact with the research, development and educational initiatives of Binghamton University.
Opportunities include access to a university-based, skilled workforce and university staff charged with relationship building between industry and academia; availability of university multi-user facilities; human resource matching programs such as internships and co-ops; and university technology transfer and commercialization offices.
Potential areas of collaboration with Binghamton University include research on new materials; microelectronic innovations; new energy design models for data centers; electronics packaging and systems integration; solar cell technologies; healthcare systems engineering; biofilm remediation; sensor technologies; information security; and vibrations research.
We also have an abundance of knowledgeable students that could be a valuable resource for internships. Our Center for Career and Professional Development is skilled at matching students and companies.
Another tax benefit program available in New York State is called the NYS Innovation Hot Spot. Businesses can participate in one but not both Programs at the same time. To help businesses choose the Program that best fits their needs, the attached guide has been prepared comparing the tax benefits of both programs.
Start-up NY aPPLICATION INFORMATION
Start Up NY Business Application Instructions
Start Up NY Business Application Form
Start Up NY Binghamton University Application
Start Up NY Procedure for Competition Analysis
Start Up NY Related Persons Report
Start Up NY Statement of Consequences
Start-Up NY Regulations
Law Article 21 Statute Document
Frequently Asked Questions
Technical Memorandum on Taxes
Comparing the Tax Benefits
Binghamton University Full Campus Plan