157 Businesses Now Participating in START-UP NY and Committing to Create at Least 4,278 New Jobs across New York State
Governor Cuomo announced that 16 more businesses plan to expand in or locate to New York State as a result of START-UP NY, the innovative program that establishes tax-free areas associated with colleges and universities across the state. These 16 businesses have committed to create nearly 470 new jobs and invest approximately $43 million over the next five years in the Western New York, Southern Tier, Central New York, New York City, Capital District and Mid-Hudson regions.
“START-UP NY is changing the game for New York’s economy by attracting new companies, jobs and private investment to communities in every corner of this state,”Governor Cuomo said. “From Buffalo to Brooklyn, this program continues to diversify and strengthen our local economies and send the message that New York State is open for business. I am proud to welcome the latest round of companies that have joined START-UP NY and I look forward to the positive impacts and jobs they will bring to New York’s economy.”
Empire State Development President, CEO & Commissioner Howard Zemsky said: “These 16 new companies joining START-UP NY are doing amazing things, bringing innovation and productivity to our key industries and business sectors while investing millions of dollars in local communities. With 157 companies now participating, START-UP NY continues to attract and encourage the best and the brightest businesses to grow in New York. In turn, these businesses are strengthening the state’s economy and generating thousands of new jobs for New Yorkers.”
The 16 companies announced today are sponsored by: Binghamton University, Cornell University, Columbia-Greene Community College, New York University, University at Buffalo, Hudson Valley Community College, SUNY Binghamton, Schenectady County Community College, SUNY Downstate Medical Center, Iona College and Rockland Community College. START-UP NY now has commitments from 157 companies to create at least 4,278 new jobs and invest more than $225 million over the next five years across the state.
SUNY Chancellor Nancy L. Zimpher said: “SUNY is proud to be a critical component of Governor Cuomo’s START-UP NY program, truly the boldest economic development initiative in the nation. There is no better way to grow jobs and opportunity than at the crossroads of business, government, and higher education. We welcome these new companies to the SUNY family and look forward to new partnerships that benefit our students, faculty, and the communities we all serve.”
Laura L. Anglin, president of the Commission on Independent Colleges and Universities, said: “Once again, START-UP NY is attracting talented individuals and organizations to college campuses across New York State. This is an innovative and growing program and the governor’s commitment to its ongoing success will only further strengthen the economic and social impact of private, not-for-profit colleges and universities and their neighboring communities.”
The businesses expanding in or locating to the Empire State under START-UP NY will create jobs in several key industries, including: agriculture; space vehicle manufacturing; software development; research and development in biotechnology and high technology; biomedical and environmental research; internet publishing, broadcasting and web search portals; and data processing and hosting.
The Governor announced the following businesses have joined START-UP NY:
- Abcombi Biosciences, Inc.
- Buffalo Automation Group, Inc.
- CortecNet Corporation
- Daydream.io Corporation
- EpiBone, Inc.
- Healthcare Hub, LLC
- Hudson Valley Fish Farm, Inc.
- Laboratory Integration Management Services, Inc.
- Paperspace, Co.
- Rabt Technologies, Inc.
- SensAttire, LLC
- Snowberg Inc.
- Syncsort Incorporated
- Ursa Space Systems, Inc.
- York Analytical Laboratories, Inc.
Additional details about the latest businesses approved for START-UP NY follow:
Iona College – 144 new jobs
Syncsort Incorporated will relocate its headquarters from New Jersey to New York’s Mid-Hudson Region. The global software company provides powerful, secure, enterprise-grade software that spans “Big Iron to Big Data,” including fast-growing analytical platforms such as Apache Hadoop, Splunk, Apache Spark, and the cloud, as well as mature, business critical platforms such as the IBM z Systems mainframe. Syncsort’s products are deployed in top Fortune 500 companies across industries such as financial services, healthcare, telecommunications and other data intensive domains. The company will create 144 net new jobs and invest $2,895,000.
New York University – 94 new jobs
Paperspace, Co. is a formative stage, high-technology company delivering high-performance computers over the web (virtual desktop). The company has developed a
proprietary streaming protocol that makes remote computers feel native and are able to do this without using a traditional installer. The protocol is currently being beta tested. The company will create 71 new jobs and invest $287,000.
Rabt Technologies, Inc. is a new big-data company that is developing a content recommendation system based on a patent-pending algorithmic personalization model. By incorporating real time behavior and user feedback into the algorithms, it dynamically correlates content to users and creates the most appealing playlists or recommendations for every user, thus increasing engagement and retention. The company is a pre-revenue start-up that is in the phase of continuous development of the technology which they expect to continue for the next two years. The company will create 23 new jobs and invest $485,000.
University at Buffalo – 72 new jobs
Abcombi Biosciences, Inc. (ABI) is a new biotechnology company in the preclinical-stage of developing technology platforms that can be tailored and applied to any disease that is treatable via prophylactic vaccination. In particular, the company is strategically focused on vaccination against highly variable pathogens (e.g., influenza and Streptococcus pneumonia), single-shot vaccine consolidation and global vaccine accessibility. The company will create 47 new jobs and invest $1,860,000.
Buffalo Automation Group, Inc. is an incubator graduate developing cutting-edge self-navigation technology for boats and ships. The company’s advanced marine autopilot enables a watercraft to operate autonomously without human intervention, while avoiding marine hazards both on the surface and underwater using an advanced array of sensors. This technology, currently in the form of a 16 ft. twin-hulled robot, is game-changing, since cargo ships can now operate with fewer crew members and recreational boaters can sail with peace of mind. The company will create five (5) new jobs and invest $675,000.
Healthcare Hub, LLC is an existing company that will begin light manufacturing operations in New York State, producing green medical products for the healthcare industry. The company is currently in the research and development phase of developing medical supplies and equipment that are biodegradable. The company is looking to reduce healthcare waste and environmental pollution by producing biodegradable, eco-friendly alternative medical products for healthcare institutions. The company will create 11 new jobs and invest $1,068,000.
Laboratory Integration Management Services, Inc. is a new software development company that has developed a business-to-business platform to connect electronic health record systems installed at hospitals and external firms offering diagnostic genetic testing. The platform automates ordering, processing, status tracking, and reporting of genetic testing. The company will partner with and utilize the Buffalo Institute for Genomics’ assets to create a commercial data warehouse for genomic and phenotypical data. The company will create six (6) new jobs and invest $50,000.
Snowberg, Inc. is a new software development company focused on developing a website/mobile app, Ditoo, which is a social media based e-commerce platform. Ditoo will be implemented with graphical map user interface and e-commerce services provided on personal connections between the user and application. The user interface design is innovative, and the commercial services between connections will help ease the tension between service provider and receiver, pushing the demands for deals. The company will create three (3) new jobs and invest $45,500.
Hudson Valley Community College – 44 new jobs
Daydream.io Corporation is a new software development company that produces mass-market Mobile Virtual Reality (VR), software and hardware. The company sells software that allows any mobile smartphone user to access their personal content with a Virtual Reality Headset. The software is operating system agnostic and multi-lingual and globalized. The company will create 44 new jobs and invest $1,080,488.
Columbia-Greene Community College – 29 new jobs
Hudson Valley Fish Farm, Inc. is an existing New York business that is building & operating North America’s largest land-based egg to plate Steelhead farm. The company is focused on producing high quality seafood that is hormone and antibiotic free in the heart of the Hudson Valley. In addition to salmon production, they are also piloting farming shrimp in recirculating systems. The company will create 29 new jobs and invest $4.25 million.
SUNY Downstate Medical Center – 26 new jobs
CortecNet Corporation, an international biomedical research company expanding to New York, has become one of the leading companies in the supply of labeled compounds for structural biology determination by nuclear magnetic resonance (NMR) and for imaging applications. The company has four locations in France, Bulgaria, Thailand and California. CortecNet already has over 1,000 customers worldwide including about 50 within the US. The company plans to expand its production in Brooklyn and to put in place some preclinical studies with the perspective of producing novel cGMP-grade labeled compounds for imaging applications in human bodies. The company will create five (5) new jobs and invest $150,000.
EpiBone, Inc. is an existing New York business that performs preclinical trials on revolutionary bone reconstruction, allowing patients to “grow their own bone”. EpiBone’s pioneering technology utilizes a scan of the patient’s bone defect and the patient’s own stem cells to construct and cultivate a bone graft that will provide exact defect repair, a simplified surgical procedure, improved bone formation and regeneration, and shorter recovery times, without the complications of foreign body implantation. The company will create 21 new jobs and invest $4,620,000.
Cornell University – 22 new jobs
Ursa Space Systems, Inc. is an existing NYS-based satellite as-a-service company that specializes in delivering aerial and space-based data products to improve geographic mapping and location-based information services by providing day, night, and all-weather coverage. The company has a unique spacecraft design which utilizes a low cost, synthetic aperture radar (SAR) and can provide diverse and rich data products in all conditions. The company will create 22 new jobs and invest $22.5 million.
SUNY Binghamton University – 21 new jobs
SensAttire, LLC is a new research and development company devoted to finding innovative ways to utilize its proprietary flexible electronic fabric in the medical, athletic, home, and industrial markets. The trend toward finding better ways to package electronic circuitry is driving their investment and job creation. SensAttire will locate to the incubator at the Engineering and Science building in Vestal. The company will create 21 net new jobs and invest $3,004,000.
Schenectady County Community College – 11 new jobs
Fundabilities.com is a formative stage company in NY that has developed a crowdfunding platform utilized by individuals, non-profit organizations, clubs, schools and businesses to raise money. Users have the ability to launch and market campaigns via social media tools. End-users have the ability to donate to an individual or organization via credit card using a secure check out process. The platform is ready for public use and next steps include hiring. The company will create 11 new jobs and invest $11,000.
Rockland Community College – 6 new jobs
York Analytical Laboratories, Inc. is a Connecticut company relocating their corporate headquarters to Rockland County. York is one of the leading NELAC environmental laboratories in the Northeast. York’s focus is servicing the NY/CT/NJ engineering community with analyses of regulated contaminants in soil, water and air. The company will relocate six (6) jobs from Connecticut and invest $130,000.
About START-UP NY
START-UP NY provides businesses that create net new jobs in New York State with the opportunity to operate 100 percent tax-free for 10 years, paying no state income tax, business or corporate state or local taxes, sales tax, property tax or franchise fees. The companies also partner with the higher education institutions they are sponsored by, and have the ability to access industry experts and advanced research laboratories associated with the schools.
To date, 75 schools are participating in START-UP NY, establishing more than 440 Tax-Free Areas, representing over 5 million square-feet of tax-free space for new or expanding businesses to operate on or near campuses. Each college and university’s approved START-UP NY plan is available at www.startup.ny.gov.
START-UP NY includes strong provisions to protect against fraud. Businesses are required to submit certification to ESD, and falsifying certifications is a felony. The program also includes strict provisions to guard against abuses such as shifting jobs among related entities or “shirtchanging,” when a company simply reincorporates under a new name and claims its existing employees are now new jobs. In addition, START-UP NY includes measures to prevent self-dealing and conflicts of interest. In cases of fraud, the State is empowered to claw-back benefits granted to the business. Companies that do not meet the terms of the program – including meeting their job creation targets – may have their benefits reduced, suspended or terminated. ESD has the authority to review company data to ensure that jobs have been created and maintained, and to end participation by companies that have not created net new jobs.
Original article: http://www.governor.ny.gov/news/governor-cuomo-announces-16-additional-companies-join-start-ny