On Wednesday, July 10th, Governor Andrew Cuomo came to JCC to speak to a crowded student union in regards to the new Start-Up NY program. For those who don’t know, Start-Up NY is a program that gives tax breaks to new, non-competitive businesses that build and start on SUNY designated land. These businesses are tax free, completely, for ten years and their employees are income tax free for five years with another five years of no income tax on the household’s first $300,000.
This is great news for New York, because now businesses are going to start sprouting up across the state that are designed to not only be job creation powerhouses, but to create partnerships between private businesses and public universities, especially in a state infamous for its high taxes. What does this mean for SUNY students? It means work internships between schools with the businesses on their land, it means job openings, and it means economic growth.
With 64 schools and nearly 500,000 students, SUNY is a major “economic engine” to upstate New York where, since the manufacturing left, we’ve seen years of economic decline. Rarely does the Student Assembly of SUNY fully endorse legislation, but after reviewing Start-Up NY, they found it in the best interests of the students to endorse and back the legislation last month at their Executive Committee meeting. To further boost SUNY is to further boost the state’s economy.