The Innovation Hot Spot
The Innovation Hot Spot program provides five years of corporate, personal income, and sales tax incentives to qualifying companies. These eligible companies receive entrepreneurial services during their enrollment through The Tech Garden as the regional Innovation Hot Spot, or through our incubator partners, to help companies grow in Central New York.
Qualifications for Participation
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Member of a NYS Certified Hot Spot
Must be a member of The Tech Garden as a high-tech/high-growth entity directly, or thorough an incubator partner of The Tech Garden. Formative Stage of Development
Must be in the start-up or early stage of development as a company, with a product, service, software or research that is not yet in the commercial marketplace. Business Enterprise
Must be a corporation, sole proprietor, partnership, or sub-S company. |
Tech or Manufacturing Industries
Manufacturing is defined as the process of working raw materials into products which gives new shapes, quality or combinations to matter by the use of machinery, tools, appliances, or other similar equipment. Tech is technology and includes software or research. Maintain Operations in New York State
Must operate within the region while receiving Hot Spot services. Bi-Annual Reports
Must provide impact data bi-annually to The Tech Garden Innovation Hot Spot to show economic impact and growth. |
Potential Tax Incentives Include*:
*Your level of benefit is determined by entity formation, location and sometimes employee job function. For complete understanding of what is available to you, be sure to consult with your accountant.
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For more information about the Innovation Hot Spot, please contact John Liddy: [email protected] |
