Tax incentive initiative aims to bring businesses to Bronx Community College
THE BRONX - Officials have announced a new statewide tax incentive program to attract businesses to Bronx Community College.
StartUp New York has partnered with Bronx Community College to give applicable businesses and employees a 10-year tax break. The businesses must comply with the academic mission and relocate to the college campus.
The businesses will be exempt from paying property, sales and income taxes for 10 years. Employees of the new companies will even be exempt from personal income taxes.
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The president of Bronx Community College says the college has started to talk to several tech and health care companies. Students at the college will be able to intern at these companies.