New York Projects Start-Up Tax Breaks Will Double

WESTCHESTER COUNTY, N.Y. -- State officials have said the amount of tax breaks offered under Gov. Andrew Cuomo's "Start Up NY" program will double in 2015, according to Capital New York.

Gov. Andrew Cuomo's Start Up NY initiative could double the amount of tax breaks given to businesses in 2015.
Photo Credit: *Casey Donahue*

Joe Jenkins

02/10/2015 2:00 p.m.

The program championed by Cuomo in 2013 has set up tax-free zones in and around college campuses throughout the state. Thus far, 73 companies have taken advantage of the program, bringing in over $100 million in private investment and created 2,400 new jobs, Capital New York reported.

The most recent tax expenditure report says the state will dole out $106 million under the Start Up NY program, up from just a projected $59 million for 2014. In all, the state spends $1.7 billion in tax breaks and credits, a sum that has drawn the ire of politicians on both sides of the fence, Capital New York said.

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