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RIT seeks two tax-free zones
Henrietta, N.Y. -- The Rochester Institute of Technology could become the first private college in the state to have two designated tax-free zones under a new state initiative.
The school applied through the START-UP NY program, which offers businesses 10 years of no taxes if they locate on or near college campuses. Gov. Andrew Cuomo said the plan could bring more business and revenue to the state.
RITs proposal includes tax-free zone zones at the Center for Urban Entrepreneurship on Franklin Street in Rochester and at the schools venture creations facility in Henrietta.
The START-Up NY approval board is scheduled to vote on the proposal Thursday afternoon.