Silver Joins Governor Cuomo in Unveiling "Tax-Free NY"

Assembly Speaker Sheldon Silver joined Governor Andrew Cuomo in announcing the “Tax-Free NY Program” at the University at Albany’s College of Nanoscale Science and Engineering (CNSE). Tax-Free New York will transform the state’s public colleges, universities and community colleges into tax-free zones, encouraging business – particularly start-ups and new ventures – to relocate to these campuses and operate tax free in exchange for creating new jobs. To be eligible, businesses would need to have a relationship to the academic mission of the respective institutions of higher learning.

Silver noted that the proposal is in line with the Assembly’s longstanding commitment to university/industry partnerships and will enrich the academic experience for students, enable graduates to find jobs and opportunity in their home communities, accelerate the development and commercialization of emerging technologies, and ensure that all New Yorkers can benefit from the program.

Tax-Free NY was patterned after the CNSE model. In 1994, the Assembly, under the leadership of Speaker Silver, made the first investment of public monies to fund the construction of a cleanroom on the U-Albany campus, which ultimately led to the creation of CNSE, the largest, most state-of-the-art, high-tech academic campus in the world.