NEW YORK STATE INCENTIVES
START-UP NY is Governor Cuomo’s initiative to create tax free communities for new and expanding businesses on SUNY and other university campuses across the state. Businesses will be able to locate in these zones and operate 100% tax-free for 10 years.
No income tax.
No business or corporate state or local taxes.
No sales tax.
No property tax.
No franchise fees
For more information, click here
Below are more important STARTUP-NY links:
OTHER STATE INCENTIVES
Empire State Development provides a variety of assistance aimed at helping businesses; whether you are an international
company looking to make a move or a small business
owner wanting to access capital – ESD is here to help.We offer loans, grants and tax credits, as well as other financing and technical assistance, to support businesses and encourage their growth within New York State.Through the New York State Consolidated Funding Application
(CFA), a single application for multiple sources of state funding, New York State is soliciting grant applications for funding to advance the priorities of the Regional Economic Development Councils (REDC).The following programs are available through the CFA:
Empire State Development Grant Funds
Excelsior Jobs Tax Credits
Market New York
Business Incubator and Innovation Hot Spot
Economic Development Purposes Fund
Strategic Planning and Feasibility Studies
Environmental Investment Program
Industrial Development Bond Cap
Please refer to www.governor.ny.gov
for announcements and updates on future funding opportunities through the CFA Contact/Additional Program Information.
State Small Business Credit Initiative
On June 28, 2011, Governor Andrew M. Cuomo signed legislation that established the use of State Small Business Credit Initiative
(SSBCI) funds for three economic development programs. These programs will enable small businesses to leverage new capital and credit to help them create private sector jobs.
The SSBCI is part of President Obama’s Small Business Jobs Act of 2010, which supports state-level small business credit programs. New York’s access to $55.4 million in SSBCI funds is expected to generate over $554 million in new private capital for small businesses.
Grant, Loan and Tax Credit Programs:
Taxes & Incentives
New York State now has one of the lowest corporate income tax rates in the Northeast. In addition to lower corporate taxes, New York offers a variety of incentives to companies expanding or relocating in the Empire State. These include:Cash Incentives. New York State offers low-cost loans and grants to companies that invest significant capital in the State and commit to the creation and retention of private sector jobs. Terms can be customized to each project; other criteria apply.Emerging Technologies. New York State has enacted tax incentives for: investors in Qualified Emerging Technology Companies (QETCs)
; job creation by QETCs; and R&D investment, R&D expenses and qualified high technology training costs incurred by QETCs.Investment Tax Credit (ITC). Businesses that create new jobs and make new investments in production property and equipment may qualify for tax credits of up to 10% of their eligible investment. New businesses may elect to receive a refund of certain credits and all unused credits can be carried forward for 15 years.Lower Corporate Tax. 6.5% rate for Qualified New York State Manufacturers.No Personal Property Tax. Unlike many other states, which tax both real property and personal property, property taxes in New York State are imposed on real property only. Personal property, whether tangible or intangible, is exempt from state and local taxes.Real Property Tax Abatement. To encourage development, expansion and improvement of commercial property, a 10-year property tax abatement is available to offset increased assessments due to improvements to business and commercial property.Research and Development (R&D) Tax Credit. Investments in R&D facilities are eligible for a 9% corporate tax credit. Additional credits are available to encourage the creation and expansion of emerging technology businesses, including a three-year job creation credit of $1,000 per employee and a capital credit for investments in emerging technologies.Sales Tax Exemptions. New York State offers exemptions for purchases of production machinery and equipment, research and development property, and fuels utilities used in manufacturing and R&D. Other exemptions may be available through local Industrial Development Agencies (IDAs). Visit your local regional office
page for a list of IDA contacts in your area.Single Sales Factor Apportionment. Formula for Taxable Income.
Contact your ESD Regional Office
or call the Main Program Administrator at (518) 292-5300.Additional Resources
NATIONAL GRID INCENTIVES
Emission Reduction Credits (Nitrogen Oxide - NOx)National Grid owns NOx emission reduction credits and can sell these ERCs at below market rates, when they can be appropriately applied to site location or expansion opportunities. Benefits from this service are measured in the form of jobs and investment to a community/region served by National Grid.
National Grid Excelsior Jobs Program (“EJP”) - Electric
Sponsored by the New York State Department of Economic Development
Incentive program commencing with tax years beginning in 2011
For non-residential customers who add additional load
Existing customers must increase demand by the lesser of twenty-five (25) percent or 100 kW
New customers adding new, permanent load will have a zero baseline
Must be qualified for discounted rates by the NYS Department of Economic Development
Qualified customers are eligible for discounted rates for up to a ten-year term
EJP Load will be subject to all surcharges and adjustments
EJP customers will not be subject to Rule 57- Revenue Decoupling Mechanism on the EJP portion of their load
Qualifying EJP Load Delivery Rates - Per kW
SC3 - Secondary $3.74
SC-3 Primary $2.16
SC-3 Transmission $2.00
SC-3A Secondary $4.08
SC-3A Primary $4.08
SC-3A Sub Transmission $2.51
SC-3A Transmission $1.70
*SC7 customers will be subject to the rates of their Parent Service Classification above.
** All EJP Customers pay full standard tariff charges on their non-EJP load.
The EJP replaces the Empire Zone ("EZR") Program which is closed to new subscribers. Customers who qualify for the EJP by the NYS Department of Economic Development will receive discounted rates on their additional load, based on the current EZR rates, which are equal to the Company's incremental cost of providing service.
National Grid Excelsior Jobs Program (“EJP”) – Natural Gas
Sponsored by the New York State Department of Economic Development Commencing with tax years beginning in 2011 Eligible customers are those whose end use is non-residential in nature; and Who qualify for service under and in accordance with the provisions of customers served under Service Classification Nos. 2, 3, 5, 7, or 8; and, Are certified by NYS Department of Economic Development as being eligible to receive the benefits; and, Who permanently increases their annual base load gas consumption by twenty-five percent (25%) or more Determined by a monthly base usage pattern at the premises, based upon the historical consumption for the twelve month period immediately preceding the customer's receipt of its initial EJP certificate
Delivery rates below shall apply to any gas consumption above the stated monthly base load:
Qualifying EJP Load Delivery Rates
Service Classification No. 2 Commercial $.0832 per therm
Service Classification No. 2 Industrial $.0618 per therm
Service Classification No. 3 $.0024 per therm
Service Classification No. 5 $.0184 per therm
Service Classification No. 7 $.0049 per therm
Service Classification No. 8 $.0223 per therm
Where actual gas usage increases over such base by twenty-five percent in each month, then applicant will be eligible for the benefits of this Rider for that month. All monthly gas consumption not meeting the discount qualifications of this Rider shall be billed at the applicable Service Classification rates and charges.
Site Development Programs
Industrial Building Redevelopment
The Industrial Building Redevelopment Program provides grants of up to $250,000 (based on the amount of capital investment) to property owners who are upgrading electric and/or natural gas infrastructure to return these properties to active industrial use. Program eligibility requirements are in the Program Description.
The Shovel Ready Infrastructure program provides grants of up to $125,000 for engineering and planning to advance a site in the ShovelReady certification process. When the site is certified ShovelReady by Empire State Development, a $250,000 matching grant is made available for the installation of electric and natural gas infrastructure. Already designated BuildNow NY and ShovelReady Certified sites may also apply for matching grant for electric and gas infrastructure. All sites must be served by National Grid to be eligible for the program.
The Brownfield Redevelopment Assistance Program provides matching grants to fund utility related infrastructure improvements, demolition, and other costs that are necessary to progress the redevelopment of a brownfield site or abandoned building, including Phase I and Phase II environmental site assessments, demolition that results in the clean-up and re-use of a contaminated site or building and costs associated with the local match for NYS DEC Environmental Restoration Program (ERP) and the Brownfield Opportunity Area Program (BOA).
Main Street/Commercial District Revitalization
The Main Street Revitalization program provides matching grants aimed at the revitalization of critical Main Streets and commercial corridors in villages, towns and cities in National Grid’s service territory. Application requests include the renovation and rehabilitation of commercial, industrial or mixed-use buildings under 100,000 square feet and development of pre-construction documents that advance an existing, community-accepted design plan, site preparation and construction of commercial or industrial adaptive re-use projects.
The CleanTech Incubation Program provides grants up to $250,000 to support entrepreneurial ventures, connect new companies to key resources, address their critical problems and assist them in capitalizing on emerging opportunities. Application requests may include the costs associated with market research, commercialization efforts and consulting support that includes entrepreneurs-in-residence (EIR’s), training and costs related to performance tracking, including documentation of lessons learned (for replication purposes). Program eligibility requirements are in the Program Description.
Urban Center/Commercial District Revitalization
The Urban Center/Commercial District Revitalization program provides matching grants of up to $250,000 to local municipalities, development corporations, universities and medical complexes undertaking major neighborhood revitalization projects. Eligible projects must be endorsed by appropriate municipal authorities and tied to specific investments in vacant/underutilized structures, neighborhoods and sites within the urban core. Projects that capitalize on the distinctive character of historic city neighborhoods and focus on energy efficiency strategies will be considered favorably in the application process, as will those that demonstrate an aggressive approach toward attracting retail pioneers and reclaiming vacant structures. Program eligibility requirements are in the Program Description.
Energy Infrastructure Programs
Electric Capital Investment Incentive
The Capital Investment Incentive Program provides funds to help offset the customer costs associated with upgrading utility infrastructure to accommodate a business expansion or new construction project. Specifically, this program supports business attraction or expansion projects located in National Grid’s upstate New York service territory. The applicant must demonstrate that they are unable to secure sufficient funding for the project through federal, state, or local economic development programs. Program eligibility requirements are in the Program Description.
Natural Gas Capital Investment Incentive
The Natural Gas Capital Investment Incentive Program provides funds to help offset customer costs associated with upgrading natural gas infrastructure to accommodate a business expansion or new construction project. Applicants must demonstrate that they are unable to secure sufficient funding for the project through federal, state, or local economic development programs. Program eligibility requirements are in the Program Description.
Three Phase Power Incentive
The 3-Phase Power Incentive program provides grants of to $100,000 to help fund the extension of 3-phase electric service to eligible National Grid customers. Grant amounts depend on the project capital investment and length of the 3-phase extension. Program eligibility requirements are in the Program Description.
Power Quality Enhancements Program
This program offers financial incentives to qualified customers for the installation of power quality mitigation equipment and controls. Qualifying applicants must demonstrate their facility has a power quality problem that results in production, operational, or quality constraints, including but not limited to downtime and outage costs. Program eligibility requirements are in the Program Description.
Energy Efficiency & Productivity
Energy Efficiency in Empire Zones
The Energy Efficiency in Empire Zones program provides assistance to Empire Zone customers served by National Grid in upstate NY. The program provides incentives to eligible customers for installation of energy-efficient lighting, controls, HVAC equipment, motors/electronic speed controls and other systems that reduce energy use and/or enhance productivity. Program eligibility requirements are in the Program Description.
Agribusiness Productivity Program
Agribusiness industry is a critical component of the upstate New York economy, both as a direct employer and wealth generator. It is also a key input to a large number of “downstream” manufacturing industries. The Agribusiness Productivity Program provides rebates to fund energy efficiency, renewable energy delivery and/or productivity improvements undertaken by dairy businesses, dairy farms and controlled environment agricultural facilities located within the service territory of National Grid in upstate New York. Program eligibility requirements are in the Program Description.
Manufacturing Productivity Program
The Manufacturing Productivity Program (MPP) provides matching grants, based on costs incurred by eligible applicants, whose top management commits the time and resources to “lean manufacturing” projects or manufacturing assistance projects that result in eliminating waste and increasing productivity on the “shop floor” and/or in the office. Further, the program provides matching grants for growth-targeted activities that result in greater utilization of manufacturing capacity and increased matching grants for projects that combine and coordinate the productivity and growth activities described above. The Manufacturing Productivity Program was developed in partnership with the Regional Technology Development Centers (RTDCs) from Western New York, Finger Lakes, Central New York, Mohawk Valley, North Country, and Capital Region and is delivered in conjunction with these RTDCs. RTDC contact information is provided at the end of this program description. Program eligibility requirements are in the Program Description.
Renewable Energy Programs
Renewable Energy and Economic Development
This program funds a limited number of projects in the National Grid upstate NY service territory that demonstrate innovative, alternative generation technologies while producing significant economic development benefits for the region. Program eligibility requirements are in the Program Description.
Sustainable Gas And Economic Development
The program provides matching grants of up to $250,000 for collaborative projects that involve an upstate research institution, one or more sustainable gas or gas transportation technologies and a regional economic development sponsor. Program eligibility requirements are in the Program Description.