Wednesday, April 23, 2014 - 2:55:05 AM

Local News

Print Friendly | Bookmark and Share

Cuomo Touts Tax Free NY at BU

(Source: Jason Weinstein)

"And it's not just the reputation and it's not just the perception. It's the reality. We are a high-tax state," said New York Governor Andrew Cuomo.

Governor Cuomo's solution to lowering those taxes to attract new business and jobs to the state is the Tax Free NY Program. The plan would turn SUNY campuses, including Binghamton University, into tax-free zones for new businesses.

"We know we have the great schools and we know we have the great talent going to those schools. And we know that we're creating jobs. We also know we're losing 75 percent of those jobs in the first year," said Cuomo.

Cuomo says the plan targets Upstate New York since 55 of the 64 SUNY campuses are upstate. Companies creating new jobs, out-of-state businesses that relocate to New York and existing businesses that expand their New York operations while maintaining their existing jobs would be eligible to be in these tax-free zones.

"I can tell you I spend all day on the telephone talking to businessmen trying to talk them into coming into this state and try to talk them into not leaving this state to go to a lower-tax state. So if you have a no-tax zone businesses will go there," said Cuomo.

Cuomo dismissed comparisons of this program to the Empire Development Zone Program, which created tax-advantaged areas for businesses and which Cuomo ended in 2010.

"There are no subsidies to businesses. If they don't create any jobs they don't get any subsidy. They're just not paying taxes. So if they don't create any jobs they don't get any benefit because they're not saving taxes," said Cuomo.

According to Cuomo's office businesses will have to submit certification to the state to prevent defrauding the program, and falsifying certifications will be a crime.

****In Vestal, Jason Weinstein, FOX 40 HD News****


View Related Articles: Binghamton, Broome County, BU, Vestal or comment on this one below.

blog comments powered by Disqus

Back Back

Binghamton web design and website hosting by EFX internet  EFX internet

Additional Articles

Boy Hit by Car VIEW VIDEO
A nine year old boy escaped serious injury Tuesday after being struck by a car  at Hazel and Glennwood around three o'clock in the afternoon:   Binghamton Police tell us the youngster was crossing... more

Casino Bidders Hopeful with Thinning Competition VIEW VIDEO
With a thinning field of competitors,  there are two venues left vying for a license from the state to operate a Casino in the Southern Tier:   Both Tioga Downs in Nichols and Traditions at the... more

Siena Poll Shows Cuomo Could Lose Half his Lead in a 3-Way Race VIEW VIDEO
Polls have been showing Governor Cuomo far ahead of any single possible challenger in a re-election bid for the governorship--   But now, a Siena poll is showing that the large lead-- 30 points... more

Local Boston Marathon Runner Reflects on This Year's Race VIEW VIDEO
He's a bit sore but a Newark Valley man is back home after running in the Boston Marathon Monday.   Brian Kupp finished last year's Boston Marathon about an hour before the bombs went off.... more

Vestal Looking to Fund Chugnut Trail Extension VIEW VIDEO
There will be more of a trail to exercise along--if Vestal grant writers can get the funding to add 3.2 miles to the Chugnut Trail:   The plan is to extend the path from Vestal avenue, all the... more

B.C. Dems Call for Ethics Investigation on Bijoy Datta VIEW VIDEO
Democrats in the Broome County Legislature are calling for an ethics investigation of Deputy County Executive Bijoy datta.   At issue are emails sent by Datta to county workers urging them to... more

A Room To Heal Changes One Boy's Life VIEW VIDEO
A ribbon cutting and a first for 10-year-old Connor Ford. For the first time Ford, who suffers from Treacher Collins Syndrome and Cerebral Palsy, has his own room. "It's been amazing, just... more

Click here for more local news...icon



 A News Story

If you are looking for a copy of a news story that we recently aired, simply click here to find out how.

FOX 40 Poll

Which Social Media Site Do You Use The Most?

Breaking News

Do you have a tip or information about a breaking news story? Contact the FOX 40 News Desk at 607.798.0070 or send us an email .

Share to Facebook Share to Twitter Stumble It More...