UB designates tax-free zones in Buffalo, Amherst for START-UP NY

UB has designated more than 175,000 square feet of space as tax-free zones through Gov. Andrew Cuomo’s START-UP NY initiative, putting a heavy focus on facilities in downtown Buffalo.

START-UP NY stands for SUNY Tax-free Areas to Revitalize and Transform Upstate NY.

The statewide initiative launched by the governor 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.

The governor has approved UB’s planned tax-free zones on or near its North, South and Downtown campuses. They include:

Amherst:

• Baird Research Park (UB Technology Incubator)

Buffalo:

• Buffalo Niagara Medical Campus Innovation Center.
• Clinical and Translational Research Center.
• Farber Hall on the South Campus.
• Jacobs Executive Development Center Carriage House.
• Jacobs Institute.
• Hauptman-Woodward Medical Research Institute.
• Institute for Healthcare Informatics.
• New York State Center of Excellence in Bioinformatics and Life Sciences.
• Roswell Park Cancer Institute Center for Genetics and Pharmacology.
• UB Gateway Building.
• Z80 Incubator Labs.

UB officials have been in conversations with more than three dozen companies interested in the program.  

The university will consider businesses that offer products and/or services that align with the academic focus areas of the university. Targeted businesses will support industry clusters included in the Western New York Regional Economic Development Council’s strategic plan and the Buffalo Billion Investment Development Plan, such as advanced manufacturing and materials, nanotechnology, clean tech and energy, and health and life sciences.

“As one of the nation’s leading public research universities, UB is ready to partner with entrepreneurs and companies to create new opportunities for business growth and commercialization of faculty research,” says Alexander N. Cartwright, vice president for research and economic development.

“START-UP NY offers an exciting new way for our university to create an environment in which businesses can thrive, students can find employment and innovations can be transferred to the marketplace,” Cartwright says. “UB’s research strengths in the emerging fields of advanced manufacturing and materials, big data supercomputing and nanotechnology are particularly suited for new business partnerships under this initiative.”