Cornell University Approved to Offer Tax Free Business Sites in Harford, Dryden, Lansing, & Ithaca
Cornell University has received state approval to use vacant or underutilized property to provide tax free sites for businesses to relocate to. Among the approved locations is property at the Cornell Dairy Research Center in the Cortland County Town of Harford.
Cornell is among the first schools to have sites approved under Gov. Cuomo's Start-Up NY initiative. The business incentive will provide companies who locate on or near campuses tax exemptions for 10 years. The program aims to create businesses and jobs that are aligned with the schools curriculum.
The University plans to offer land and unused dairy barns at the Harford based Dairy Research Center. Agriculture and related companies interested in moving there could access tax free benefits.
The research facility was re-built in 2013, the new $8 million dollar 105 thousand square foot facility houses about 600 dairy cows plus an additional 500 head of youngstock. Now, the former barns and old facilities are now empty and available for use.
Cornell also plans to offer 75 acres of light-industrial zoned land along Hanshaw Road at Route 13 near the Ithaca-Tompkins Regional Airport in Dryden. 6 acres on Pine Tree Road near East Hill Plaza designated for office space. Office, lab and light manufacturing space in various buildings at the Cornell Business and Technology Park in Lansing. Office and lab space in Weill Hall on the main main campus in Ithaca, and land at the University's Agricultural and Food Tech Park in Geneva.
The University has reportedly already had more than 2 dozen businesses inquire about their Start-Up program.
The Start-up New York allocations board also approved use of property at Onondaga Community College for the program.
SUNY Cortland is working on its plan and is expected to submit proposals for state review in the near future. Stipulations in the program require that new businesses in the tax free program cannot compete with established businesses, cannot include retail, and must be consistent with the academic mission of the host colleges.