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START-UP NY at MCC
by Evan White
Rochester, N.Y.Youve heard the promises in flashy new commercials stating that theres a new New York, one with a more business friendly atmosphere.
Bob Rock of Certified Grinding and Machine can only hope its true.
In our business we dont manufacture anything, explained Rock. We take other peoples products and we make them better. So anything you can do to build this economy will help our company in the long run.
STARTUP-NY aims to give businesses tax breaks for ten years if they relocate or expand near a college.
The main goal is to create jobs, said Vincent Esposito of Empire State Development Corporation, the states development arm which along with colleges, runs the program.
Its named startup because we want to encourage startup businesses to form out of the colleges where there is incredible R&D and exist and are turning out but need to turn
Out in a higher rate or greater numbers.
A business taking part would not pay income tax, business, corporate, state local, sales or property taxes, according to Empire State Development.
We are concerned though that those employers that are still in our community and in New York State continue to receive the assistance they need to be competitive, said Chris Wiest, Vice President of Public Policy and Advocacy with the Rochester Business Alliance.
Rocks business cannot relocate to a new site or create a subsidiary that would be able to move close to a school.
It could create a disadvantage for them, Wiest said. Thats why we say they need to have this other relief, if someone is able to set up shop and employees dont have to pay income tax, that could place a neighborhood employer at a disadvantage however there are some other pieces to the governors budget proposal that could be helpful.
Esposito said Governor Andrew Cuomos agenda clearly adds to help businesses can receive, beyond Startup NY
Hes reducing the corporate tax rate for everybody, thats something that probably is going to be approved, hes also reducing the corporate tax rate to zero for anyone who wants to manufacture anything in upstate New York, existing business included, Esposito said.