The State University of New York Maritime College is officially open for business, after receiving formal designation as a tax-free area under Governor Andrew Cuomo’s START-UP NY program.
In a March 2 letter to Maritime College President Michael A. Alfultis, Ph.D., Empire State Development President and CEO Designate, Howard Zemsky, wrote, “I am pleased to advise you that your request for the designation of tax-free areas has been approved by the START-UP NY Approval Board.”
SUNY Maritime College has designated 1,700 square feet of vacant space on its campus in Fort Schuyler. The college will target businesses in the formative stage of development or engage in the design, development and introduction of high-technology products, including Maritime simulation (navigation, bridge engineering, liquid cargo handling systems, pier/terminal crane and staging systems).
START-UP NY is Governor Andrew Cuomo’s initiative to create tax free communities for new and expanding businesses on SUNY and other university campuses across the state. START-UP NY provides tax benefits to approved businesses that locate in vacant space or land of approved New York State public and private colleges and universities, approved strategic state assets, and New York State incubators affiliated with private universities or colleges that are designated as tax-free NY areas. The program promotes entrepreneurialism and job creation by creating tax-free communities across the state.
START-UP NY is administered by New York State's Empire State Development.