Published March 13, 2014
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:
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.”
During the presidency of Bill Greiner, UB's Industry/University Center for Biosurfaces, working with the architecture department on South Campus, proposed a "South by Southwest" Biotechnology Park for the land at the corner of Winspear and Bailey avenues across from the VA Medical Center that would have provided easy, city-approved access to the radiation sterilization facility occupying the now-abandoned WNY Nuclear Research Center next to the new pharmacy building. Unique, indeed, opportunities for start-ups dealing with medical and pharmaceutical goods!