Gov. Andrew M. Cuomo today announced the appointments of three members to a board that will review and approve plans from private universities and colleges for tax-free areas as part of the new START-UP NY program to attract new businesses to forge strategic partnerships with public and private academic institutions on or near campuses around the state.
Named to the approval board were Edward M. Cupoli, formerly chief economist at SEMATECH, an Albany-based nonprofit research and development consortium, and retired professor of NanoEconomics at SUNY Albany; Abraham M. Lackman, scholar in residence at Fordham University’s Graduate School of Education and senior officer for civic affairs at the Simons Foundation, a private foundation in New York City that supports research in mathematics and the basic sciences; and Andrew Kennedy, Cuomo’s assistant secretary for economic development. Cupoli was appointed to the board by the state Assembly and Lackman by the state Senate, while Kennedy was appointed by the governor.
After an initial review by Empire State Development, the approval board will evaluate and approve designated tax-free areas for businesses proposed by private schools. The board also will designate up to 20 strategic state assets as tax-free areas.
Cuomo’s START-UP NY program seeks to accelerate entrepreneurialism and job creation across the state on a large scale, with a particular focus on upstate regions. The State University of New York campus system, City University of New York and private university and college communities form the framework of the program to attract high-tech companies and other start-ups, venture capital, new business and international investments.
Under the program, businesses can operate tax-free for 10 years on eligible land and office space. Businesses will partner with the higher education institutions and be able to access industry experts and advanced research laboratories.