Aggressive. Innovative. Transformative. That’s how START-UP NY, the Empire State’s business and job creation initiative was described when it launched in October 2013. And the program is living up to its billing. In less than two years, more than 70 companies have invested $100 million-plus through the program while creating more than 2,400 new jobs.
The effect is being felt in communities statewide, where universities and colleges partner with companies looking to grow in key sectors ranging from biotechnology R&D and advanced manufacturing, to information technology and software development. Among some of the most recent companies to join START-UP NY is Windsor Wood USA, LLC, which has teamed up with the State University of New York’s College of Environmental Science and Forestry in Syracuse.
Windsor Woods uses a proprietary process to create virtually unbreakable wooden material and, like other companies in START-UP NY, will directly impact the community where it’s located. In this case, the company is investing $2.2 million into a former General Motors manufacturing plant in the Salina Industrial Powerpark, creating 40 new jobs. It’s just one example of the ways START-UP NY companies are bringing private investment and jobs to the state of New York.
Other recently approved companies include:
• Raland Therapeutics, Inc., (University at Buffalo) a bio-device company developing an implantable biosensor improving chemotherapy treatment for cancer patients;
• SureDone Inc., (Schenectady County Community College) an e-commerce platform allowing retailers to list products, sync inventory and fulfill orders through multiple online retail channels like eBay, Amazon and others;
• Eye-in Media, (Plattsburgh State University) a marketing and technology company based in Montreal, Canada, specializing in digital signage and menu boards, and Wi-Fi network management.
Creating an entrepreneurial environment where business can flourish is at the heart of the START-UP NY mission. Currently, more than 60 schools, including state colleges, universities and private institutions, have established tax-free areas where new or expanding businesses can operate on or near campus. “By offering new companies the opportunity to operate tax-free alongside our first-class universities and talented workforce, this program is attracting significant private sector investments and creating hundreds of new jobs for New Yorkers,” said Governor Andrew M. Cuomo.
This Investment Profile was prepared under the auspices of Empire State Development. For information, visit START-UP NY on the web at www.startup.ny.gov.