Release Date: October 21, 2014
BUFFALO, N.Y. – Five more companies will set up shop on or near the University at Buffalo campuses under START-UP NY, the innovative tax incentive program created by Gov. Andrew M. Cuomo.
The companies, which will relocate to, start-up or expand in Buffalo through their affiliation with UB, expect to create 123 jobs, invest $3.17 million in the region and collaborate with UB faculty researchers and students. Each of the companies has strong ties to the university’s academic and research strengths and each will offer opportunities to students in the form of internships, scholarships and jobs.
The five companies include:
“We are delighted to welcome these five new companies, and very pleased to be continuing UB’s leadership role as part of the Governor’s START-UP NY program,” said UB President Satish K. Tripathi. “This program is an innovative and very effective way of leveraging all the strengths that a major research university brings to our region. And it has substantial benefit to our academic enterprise — from new internship and entrepreneurship opportunities for our students; to more jobs that attract global talent to our region and create new professional avenues for our graduates; and new pathways for our faculty to lend their expertise to industrial research and development.”
START-UP NY stands for SUNY Tax-free Areas to Revitalize and Transform Upstate NY. The statewide program aims to spur economic development by enabling universities to identify areas where new and expanding businesses can operate for 10 years without paying New York State business, corporate, income, sales or property taxes, or franchise fees.
Since Cuomo announced the program earlier this year, 20 companies have pledged to move or expand in the Buffalo Niagara region and work with UB to further their respective business. In all, the companies are projected to create 1,178 jobs and are investing more than $23 million in improvements to facilities over the next five years.
Two-thirds of the companies participating in START-UP NY throughout the state are UB-sponsored companies.
That includes Aesku.NY, a subsidiary of Germany-based life sciences firm Aesku.Diagnostics, which will work with the New York Genome Center and UB to advance new ways to treat, prevent and manage serious disease, as well as Bak USA, which will assemble affordable electronic tablets at Compass East, the former Sheehan Memorial Hospital, at 425 Michigan Ave. on Buffalo’s East Side.
The five newest companies to join START-UP NY via UB are:
Editor's note: Robb Surgical Devices has withdrawn its application from START-UP NY.