Sounds like the plan is going to sock it to other workers who are not employed by businesses in the zone.
GCC officials eager to learn more about Cuomo's 'tax-free zone' proposal
Submitted by Howard Owens on May 25, 2013 - 9:29pm
A proposal to create tax-free zones around SUNY campuses is intriguing to officials at Genesee Community College, according Rick Ensman, director of development and external affairs, even though it's unclear how it will all work.
Gov. Andrew Cuomo announced the proposal a few days ago. The plan would allow any business on a SUNY campus, or in some cases, in a zone around the campus, to operate completely tax free -- including no state income tax for employees -- for 10 years.
The justification, according to Cuomo, is to spur business growth and innovation in New York.
"This is an exciting and innovative proposal," Ensman said. "It has great potential for job creation and new academic-business partnerships. We’re eager to learn about the details, and about how we can participate."
The proposal has not yet been through the legislative process. It seems to have Republican and Democratic support so far, but in the process some details could change or refined.
"As I understand the proposal, businesses would be eligible for the tax-free zone if their products or operations are related to programs of study on the campus," Ensman said. "So it’s possible that businesses related to any of our programs (e.g. technology, health care, office tech, etc.) could locate in the area."
Issues such as where businesses would be located and how they would fit into the campus, or just off campus, won't be explored until and if the proposal becomes law.
"We’re anxious to learn more about the program," Ensman said.
"Issues such as were businesses would be located and how they would fit into the campus, or just off campus, won't be explored until and if the proposal becomes law."
"You'll know what it entails, after we pass it".
FLASH-QUIZ: You have 3 seconds to answer the following question:
What U.S. demigod is the "Mother" of this tactic?
(voice from the studio control room)- "Uh-h-h! Tom, we have a problem. Our buzzer system is overloaded. We are gonna have to re-boot!"
Ray, I agree. State income tax free zones for employees of businesses located near college campuses is simply unfair to other businesses and their employees. Perhaps, I am just too simplistic in my thinking. Why not just take all of the tax breaks NYS is awarding through the EDC's, take the salaries of all of EDC employees across the state and take this new income tax waiver for new businesses and employees located near colleges and spread the wealth? Cut taxes for everyone. Lets stop picking winners and losers and offer tax relief to everyone. Long term, these tax gimmicks still don't make NYS a business friendly state. No amount of money that Andrew Cuomo spends on TV commercials makes that a reality. The only long term strategy that makes sense to me is across the board individual, business, and property tax cuts.