Cuomo rebranding NYS signature economic program

Jan 19, 2017

Governor Andrew Cuomo wants to tweak one of his signature economic development programs.

Credit New York State

Under a proposal contained in Cuomo's state budget plan, Start-Up NY would be renamed the Excelsior Business Program. It would also get new rules intended to make it more successful.

Start-Up was created to jumpstart new and innovative companies but has had only modest success so far. A report issued last year showed the program generated 408 new jobs in its first two years. Participating businesses partner with colleges and universities and do not have to pay taxes for 10 years.

A spokesman for the state economic development agency said Wednesday that the proposed changes amount to "adjustments." He says Cuomo's administration remains "firmly" committed to the Start-Up model.