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SUNY Oswego receives state approval for Start-Up NY program
Eight months after submitting its first draft proposal for the Start-Up NY Program, SUNY Oswego can finally start approving prospective businesses that would like to create jobs on its campus.
Pam Caraccioli, with SUNY Oswego, says the college is targeting technology-based companies, including those working in robotics, computers and high-tech manufacturing.
“That’s been our goal from the beginning,” Caraccioli said. “To really, really try to tie into the industry sectors that are also being targeted by the economic development leaders in our entire region.”
She says finding companies that mesh with the college’s mission also helps keep recent graduates in New York state.
“At the end of the day, our mission really is to educate the workforce for tomorrow,” Caraccioli said. “And if we can help to bring that together on campus before our students graduate, I think that’s the goal in all of this program.”
SUNY Oswego says its drawn interest from more than 30 companies that would like to take advantage of the state’s Start-Up NY program. Businesses allowed to locate onto college campuses can operate tax-free for a decade, provided they can create new jobs and don’t compete directly with other local businesses.
Company employees also don’t pay income taxes during the same timeframe.
Caraccioli says although the businesses aren’t paying taxes, they still contribute to the local economy.
“Anytime you create employment in a community, you’re going to have a spillover effect,” Caraccioli explained. “What that rate is, we don’t know because this is a brand new program. But you’re going to have people that are going to buy houses, you’re going to have people that are going to send their kiddos to school. We want to enrich these communities as much as possible.”
SUNY Oswego set aside several locations for the program on its main campus, Phoenix campus and at the Syracuse Tech Garden near its Metro Center in downtown Syracuse.
The Upstate Economy
The Upstate Economy