Economic Development Services
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Excelsior Program:

New York State's Excelsior Jobs Program provides job creation and investment incentives to firms in targeted industries, including; biotechnology, pharmaceutical, high-tech, clean and renewable technology, financial services, agriculture and manufacturing. Firms in these strategic industries that create and maintain new jobs or make significant financial investment will be eligible for up to four new tax credits:

  • The Excelsior Jobs Tax Credit: A credit of 6.85% of wages per new job to cover a portion of the associated payroll cost.
  • The Excelsior Investment Tax Credit: Valued at 2% of qualified investments. 
  • The Excelsior Research and Development Tax Credit: A credit of 50% of the Federal Research and Development credit up to 3% of research expenditures in New York State.
  • The Excelsior Real Property Tax Credit: Available to firms locating in certain distressed areas and to firms in targeted industries that meet higher employment and investment thresholds.

For more information on the Excelsior Program, please visit Empire State Development or Contact us.