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Governor's representative Matt Driscoll to present on Tax-Free NY at Cayuga CC on Monday

DATE: 06-12-2013

Matthew Driscoll, president and CEO of the Environmental Facilities Corporation, will present on Governor Andrew Cuomo’s new economic development initiative, Tax-Free NY, at 1 p.m. Monday, June 17 in the Student Lounge (M214) at Cayuga Community College, 197 Franklin St., Auburn.

“We pleased to be hosting Matt Driscoll on our campus to learn more about this intriguing proposal by Governor Cuomo,” said Daniel P. Larson, president of Cayuga Community College. “We would like to invite the business community, elected officials, and any interested community members to attend this meeting to obtain more information and get their questions answered.”

The initiative enables the 64 campuses of the State University of New York (SUNY) to provide up to 200,000 square feet on or near their campuses to companies with a relationship to the academic mission of that campus. The companies located in this tax-free area would pay no sales, property, or business taxes, and the employees of these companies would be exempt from paying income taxes for a 10-year period.

The idea sprung from the continued growth of the nanotechnology industry in cooperation with the University at Albany’s College of Nanoscale Science and Engineering. The successful research college attracted billions of dollars in private sector investment, transforming the New York State’s Capital Region into the international epicenter of the commercial nano-industry.

With 93 percent of New Yorkers living within just 15 miles of a SUNY Campus, the proposal enables millions New Yorkers to benefit from the increased job-creating and economy-boosting potential of Tax-Free NY.

For more information, contact Anthony Vilardo at anthony.vilardo@exec.ny.gov or 315-428-4337.