SYRACUSE — Alain Kaloyeros, senior vice president and CEO of the College of Nanoscale and Science and Engineering in Albany, on Wednesday visited Syracuse to explore collaborations for the START-UP NY program.
START-UP NY is short for the SUNY Tax-free Areas to Revitalize and Transform Upstate NY. It’s the legislation that governs Gov. Andrew Cuomo’s Tax-Free NY program.
START-UP NY is intended to foster entrepreneurialism and job creation by enticing companies to bring their ventures to upstate New York and partner with colleges and universities.
The program offers new businesses the opportunity to operate completely tax-free for 10 years — including no income tax for employees, no sales, property, or business tax — in specified zones on college campuses while also partnering with the institutions in the SUNY system and selected private colleges.
Kaloyeros met with officials from the State University of New York (SUNY) Upstate Medical University and toured the Central New York Biotech Accelerator and the site of the upcoming Loguen’s Crossing complex.
During the tour, Kaloyeros joined Dr. David Smith, president of Upstate Medical University, in observing the ongoing work in one of the labs inside the Biotech Accelerator.
The visit came at the direction of Gov. Andrew Cuomo to explore collaborations with Upstate Medical University on attracting new corporations to Syracuse. SUNY campuses are encouraged to use Start-Up New York to advance public-private partnerships to spark economic development.
Such partnerships include Upstate working with COR Development Co., LLC of Fayetteville on the Loguen’s Crossing project.
The project is intended to redevelop the 10 acres of property adjacent to the Biotech Accelerator that were previously home to the Kennedy Square housing project, according to Upstate.
Contact Reinhardt at ereinhardt@cnybj.com