Five companies affiliated with the University at Buffalo will be setting up shop as part of the state's START-UP NY tax incentive program.
The companies are expected to create 123 new jobs under their new agreement with UB and invest $3.17 million dollars in the region.
The START-UP NY program is designed to spur economic development by enabling universities in the state to identify areas where new or expanding businesses can operate for ten years without paying state taxes and fees.
So far, 20 companies have affiliated with UB under START-UP NY. That's two-thirds of the companies participating in the program across the state. The five businesses announced Tuesday include:
Mitigate Injury Management, Inc. is a new enterprise level management consulting business that will provide an array of services to Fortune 1000 companies to improve their safety records and lower their worker compensation costs. The company will locate to the Gateway Building to develop proprietary software to provide consultative services in a more cost-effective manner and create 81 net new jobs while investing $115,000.
You First Services, Inc. is an existing New York State business that seeks to commercialize technologies that have been created in the laboratory setting, but have not been supported by the resources necessary to get to the market. The company performs the necessary research and development to determine commercialization potential and bring new technologies to market, such as FDA approval for a product. You First Services will be expanding its administrative, business development, and R&D staff to allow for more simultaneous commercialization projects. The company will expand to the Baird Research Park and create seven net new jobs while investing $110,000.
HarkerBIO, LLC is a new biotechnology business that provides services to rapidly advance the development of pharmaceuticals. Based on technologies developed at the world-renowned Hauptman-Woodward Medical Research Institute, HarkerBIO determines the near atomic-resolution, three-dimensional structures of drug target and drug target – therapeutic agent complexes, to greatly accelerate the drug design process. Through industry partnerships, they are developing the next generation of therapeutics for a broad spectrum of diseases and health conditions. The company will locate to 700 Elicott Street, Buffalo, and create 10 net new jobs while investing $500,000.
ZeptoMetrix Corporation is an existing biotechnology company expanding to the Innovation Center Annex on the University at Buffalo campus. ZeptoMetrix specializes in products and services for the global infectious disease diagnostic market, offering developers support from initial test kit design to commercial manufacture and launch of the diagnostic products. The company will create 10 net new jobs and invest $575,000.
Robb Surgical Devices, LLC is a new surgical device company that has secured the rights to manufacture a novel, patented, laparoscopic sponge. The business will locate in the Center of Excellence in Bioinformatics Building and create 15 net new jobs while investing $1.87 million.