In order to participate in the program the business must
meet the following criteria:
1. mission and activities of the business must align with
or further the academic mission of the campus, college or
university sponsoring the tax-free NY area in which it seeks
to locate and the business’s participation in the START-UP
NY program must have positive community and economic
benefits.
2. The business must demonstrate that it will, in its
first year of operation, create net new jobs.
3.
After its first year of operation, the business must
maintain net new jobs.
4.
In addition, the average number of employees of the business
and its related persons in the state during the year must
equal or exceed the sum of:
a.
the
average number of employees of the business and its related
persons in the state during the year immediately preceding
the year in which the business submits its application to
locate in a tax-free NY area; and
b.
net new jobs of the business in the tax-free NY area during
the year.
5.
At the
time of submitting the application for the START-UP NY
program new
businesses must be not be operating or located within the
state unless it is an in-state company that is granted
special permission to be in the program.
6. The business must be
organized as a corporation, a partnership, limited liability
company or a sole proprietorship.
7.
The new
business or the owner of said business should not have
operated in NY State in the last 5 years (unless granted
special exemption).
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