State officials have approved the University at Albany’s plan to lure businesses to set up shop on campus under START-UP NY, Gov. Andrew Cuomo’s tax-incentive program.
UAlbany was given the green light to market land and space on its campuses in the area. Land includes 36 acres on UAlbany’s east campus and 18 acres near the College of Nanoscale Science and Engineering on Fuller Road West.
The university is also looking to house businesses in existing space, including 1,635 square feet of lab space in UAlbany’s biology building on the main campus, 10,000 square feet in the Schuyler School Building at the downtown campus and 8,631 square feet of lab and office space in the School of Public Health on UAlbany’s east campus.
UAlbany is looking to team with businesses focused on biomedical science and biotechnology, climate and environmental research, forensic sciences and cybersecurity, and advanced data analytics. The school has not yet announced any business partners.
The university was one of eight State University of New York schools approved to participate in the program. Cuomo’s initiative enables new, expanding and out-of-state businesses to locate on college campuses and pay zero taxes for up to 10 years.