New start-up businesses might be coming to Liberty Street after Mount Saint Mary College’s START-UP NY application was approved last week.
The Mount has partnered with The Hudson Valley Center for Innovation, also known as iCANny, a Hudson Valley-based business incubator and accelerator, to launch START-UP Newburgh. The program will offer guidance and business space to emerging and mature businesses engaged in life sciences, medical devices, bio-technologies and many other industries.
The college plans to lend qualifying businesses 8,000 sq. ft. of space at 337 Liberty St. Officials hope to increase the amount of space as the program flourishes.
Businesses selected for the program will enjoy ten years of tax-free operation in New York State.
“If tax relief is such a good idea for these areas, why isn’t it a good idea for the state as a whole? Or the nation? The whole country needs to become an enterprise zone,”
http://www.newsmax.com/Newsfront/Cuomo-New-York-tax-free/2014/02/04/id/550910/
…or Newburgh.
A taxpayer funded plan comprising an academic institution paying zero property taxes will serve as the landlord to businesses, paying zero property taxes, that receive professional services from expert “service providers”, who are ‘compensated for their valuable time’, will conduct for profit operations with a 100% tax exemption to include employees, probably from the mother academy, who themselves are exempt from state income tax.
For a reminder…
http://www.britannica.com/EBchecked/topic/584578/taxation/72001/Purposes-of-taxation
It’s a silly and convoluted plan to side-step the need to overhaull our current tax structure here in our great state. In better newes, the leaves are changing colors and Fall Folliage will be in full bloom soon. I heart NY!