Governor Cuomo Discusses Start-Up New York
6/24/2013 (Updated 9:24:53 PM)For the second time this month, Governor Andrew Cuomo visited Binghamton University.
Cuomo has signed into effect the Start-Up New York Bill. The bill will allow all SUNY campuses to develop tax free communities.
It will also encourage start up businesses in New York to stay in New York by allowing them to remain tax free for 10 years.
According to Cuomo, over 75% of new businesses in New York leave in the first year.
He says this program will help lower that number to heal old financial wounds.
"Upstate New York has been suffering for 10, 20, 30 years, Western New York, 40 years. We never really recovered after the manufacturing era ended and we're now getting beaten, competitive advantage, by states that have lower taxes. So this, overnight, will equalize the playing field," said Governor Andrew Cuomo.
Cuomo also outlined how Start Up New York is a part of an overall plan that includes increasing upstate tourism and allowing full gaming casinos to help bolster the upstate economy.
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