Companies in Ithaca and Binghamton are among the 16 latest businesses to join the START-UP NY program in tax-free areas associated with colleges and universities statewide.
Cornell University is the academic sponsor for Ursa Space Systems, Inc., an existing satellite as-a-service company, the office of New York Gov. Andrew Cuomo said in a news release.
Ursa Space Systems operates at 314 E. State Street in Ithaca, according to its website. The firm specializes in delivering aerial and space-based data products to improve geographic mapping and location-based, information services by providing day, night, and all-weather coverage.
(Sponsored)
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Ursa Space Systems will create 22 new jobs and invest $22.5 million, Cuomo’s office said.
Binghamton University is the academic sponsor for SensAttire, LLC, a new research and development company. The firm focuses on finding ways to utilize its “proprietary flexible” electronic fabric in the medical, athletic, home, and industrial markets.
The trend toward finding better ways to package electronic circuitry is driving its investment and job creation, Cuomo’s office said.
SensAttire will create 21 net new jobs and invest more than $3 million. The company plans to operate in the incubator at Binghamton’s Engineering and Science Building in Vestal.
The latest companies bring to 157 the number of businesses participating in START-UP NY, according to Cuomo’s office. The businesses are committing to create at least 4,278 new jobs across New York.
START-UP NY provides businesses that create net new jobs in New York with the chance to operate 100 percent tax-free for 10 years, paying no state income tax, business or corporate state or local taxes, sales tax, property tax or franchise fees.
Higher-education institutions sponsor the companies, which have access to industry experts and advanced-research laboratories associated with the schools.
To date, 75 colleges and universities are participating in START-UP NY, establishing more than 440 tax-free areas, representing more than 5 million square feet of tax-free space for new or expanding businesses to operate on or near campuses, according to Cuomo’s office.
Contact Reinhardt at ereinhardt@cnybj.com
