Rochester, N.Y. – New York’s top executives stopped at Monroe Community College Monday as part of their victory lap across the state.
Governor Andrew Cuomo and Lieutenant governor, and former Rochester Police Chief, Bob Duffy were joined by other local lawmakers and business leaders for the ceremonial signing of part of the Start Up NY legislation. The bill will create tax free zones on all SUNY campuses. The lionsher of those campuses reside in the upstate region.
The bill creates 120-Million square feet of commercial area that is tax free. The tax free commercial space created is more than all the commercial space in Buffalo, Rochester, and Syracuse combined. Those businesses and their employees in the tax free zones will be free of all state fees and taxes for up to 10 years.
“New York loses over 75% of the jobs it creates in the first year,” The governor told reporters. “We are desperately trying to keep those new jobs we create here.”
The new law is part of a three step initiative by the governor to expand the upstate New York economy by setting up financial advisory panels to help cities across the state limit their reliance on state funding as well as setting the groundwork to develop Casinos in the state.
The governor ceremonial signing the bill establishing the advisory boards in the Rochester ceremony as well as the one in Buffalo and Binghamton.