New York state has the worst tax climate of any state in the nation according to recent studies.
That led to the cover story in today's Business First called Tax Acts. It shows how the fledgling Start-Up NY tax break program is making big waves in Buffalo, as it promises potential despite concerns.
The report shows how Start-Up NY is just seven months old. It wipes out state and local taxes for qualified companies for 10
years. Eight Buffalo companies have already been accepted and 15 more are on the way,
but debate continues about whether Start-Up NY is an appropriate way to achieve economic development in high-cost New York state.
Some say it won't be effective while supporters say we need jobs and we need companies with links to universities.
Colleges act as an entry point for applicants, then Empire State Development Corp. handles incentive programs.
So far, three Western New York colleges are taking part: UB, SUNY Buffalo State and Jamestown Community College. SUNY Fredonia should be approved this year.
You can read more about the program and see how companies are reacting in today's Business First.