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New York State Spent Millions On Program For Startups That Created 76 Jobs
Nerval's Lobster writes Last year, the New York state government launched Start-Up NY, a program designed to boost employment by creating tax-free zones for technology and manufacturing firms that partner with academic institutions. Things didn't go quite as planned. In theory, those tax-free zones on university campuses would give companies access to the best young talent and cutting-edge research, but only a few firms are actually taking the bait: According to a report from the state's Department of Economic Development, the program only created 76 jobs last year, despite spending millions of dollars on advertising and other costs. If that wasn't eyebrow-raising enough, the companies involved in the program have only invested a collective $1.7 million so far. The low numbers didn't stop some state officials from defending the initiative. "Given the program was only up and running for basically one quarter of a year," Andrew Kennedy, a senior economic development aide to Governor Cuomo, told Capital New York, "I think 80 jobs is a good number that we can stand behind."
Where do you see that they only spent $1.7m? They spent $53m. The 1.7m number was the contribution form the companies involved. Would you like to redo your calculation there?
When you cant win, ad hominem.
I tired to use Start-Up NY. We called and were told that it was only for out of state businesses opening in New York. They referred me to a small business consulting group at Stony Brook University. They referred me back to Start-Up NY. I had the impression that no one I spoke with knew what they were talking about, and really weren't interested in helping at all. I have even considered writing to Governor Cuomo. I think that Governor Cuomo's concept here is very well intentioned and could be a great benefit to the state. But, from my experience the administrative staff are not executing the Governor's program as intended.