Breaks go to existing companies

[hrmjustin]

Rick Karlin

START-UP NY might be a misnomer: Gov. Andrew Cuomo's signature job-creation initiative isn't really aimed at start-up companies.

Of the two dozen companies so far announced that will receive 10 years of tax breaks, more than half are actually expansions of companies that already operate in New York or elsewhere.

Economic development officials from the Cuomo administration stress that the program was designed from the beginning to give tax breaks to companies that would expand or relocate, not necessarily just those starting from scratch.

"It's an acronym," said one official from Empire State Development, which administers the program.

http://m.timesunion.com/local/article/Breaks-go-to-existing-companies-5655520.php