Tax-free zones created for startups
- Alex Bazeley for Washington Square News September 30th, 2014
- Source: http://www.nyunews.com/2014/09/30/incubator/
New York State has named NYU’s three business incubators as tax-free zones as a part of the START-UP NY program, a business incentive program designed to help startups expand within New York. The tax-free zones include three incubators operated by the Polytechnic School of Engineering — Varick Street Incubator, the DUMBO Startup Lab and the Urban Future Lab.
The goal of START-UP NY is to help local businesses grow, create jobs and attract more business to New York City. The program aims to connect businesses with colleges and universities around the state that can support their interests. The project grants businesses tax breaks for 10 years while working on location.