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Cuomo: 12 businesses part of no-tax program

Buffalo, N.Y. (AP) -- New York state's offer of tax-free zones for businesses has attracted a dozen companies.

Gov. Andrew Cuomo on Wednesday announced the first round of businesses that will take advantage of the START-UP NY program that gives new employers and their employees 10 years of tax-free living if they locate on or near college campuses.

Cuomo said the businesses will invest an estimated $50 million and create nearly 400 jobs around the University at Buffalo, Rochester Institute of Technology, Cornell University and the State University of New York Downstate Medical Center.

The companies are focused on biotechnology, biopharmaceuticals, advanced manufacturing, research and software development.

The Legislature approved START-UP NY last June.

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Washington Times