Friday, April 10, 2015

Cuomo’s 'Start-Up NY' program cost $28 million, but has only created just 76 jobs.

Start-Up NY

(Watchdog Arena)

Gov. Andrew Cuomo’s ‘Start-Up NY’ program has been billed as a big jobs creator, but the numbers aren’t matching the rhetoric. 

Companies that invest in certain areas known as “tax free zones” are given big tax breaks for expanding or starting new businesses, and New Yorkers were promised 2,100 new jobs over five years. The state has spent $28 million on a massive advertising campaign for the program, but so far, Start-Up NY has only created 76 of the 2,100 jobs that were promised.

One aspect of the program bothers some current business owners in the state: there are no tax breaks for existing companies that have been paying taxes and creating jobs for years, unless those companies expand into the zones specified by the state.

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