New York Codes, Rules and Regulations › Title 5 - DEPARTMENT OF ECONOMIC DEVELOPMENT › Chapter XXII - Start-Up NY Program › Part 220 - Suny Tax-free Areas To Revitalize And Transform Upstate New York (start-up Ny) Program › Section 220.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
As used in this regulation, the following terms shall have
				  the following meanings:
(a)
Academic mission
means any official academic mission announced
				and adopted by any university or college seeking approval as a sponsor of a
				designated tax-free NY area. Such academic mission may consider, among other
				things, the institution's comprehensive undergraduate, graduate education
				and/or professional education curriculum; research; leadership role in the
				community; diversity and culture; regional economic development; internship and
				training opportunities; direct job opportunities for graduates; international
				outreach; specific area specialization within the university or college; and
				any other factors which the university or college deems to be appropriate in
				defining academic mission for purposes of the START-UP NY Program.
(b)
Affiliated
means
				connected, related, or associated with.
(c)
Application
means a
				submission from an eligible business for approval to participate in the
				START-UP NY Program.
(d)
Bona fide affiliation
means a relationship between a New York
				State incubator or a hot spot sponsored or administered by a university or
				college, documented by a certificate of incorporation, by-laws, memorandum of
				understanding or similar document detailing the relationship between the
				parties and the rights, responsibilities and expectations of the parties,
				including but not limited to financial commitments, shared use of staff,
				facilities or resources.
(e)
Business in the formative stage
means a company in the
				start-up or early stage of development with a product, service, software, or
				research that is not yet in the commercial marketplace, but which can show
				continued and steady maturity towards commercialization and profitability
				either by product development, external funding or product sales.
(f)
Campus
means any real
				property in New York State owned or leased by a university or college, held in
				trust for a university or college, or owned or leased by an affiliated
				not-for-profit entity on behalf of a university or college or for the benefit
				of a university or college, and can include any such additional real property
				acquired, established, operated or contracted to be operated for or on behalf
				of the university or college. Real property owned or leased by a not-for-profit
				entity on behalf of a university or college or for the benefit of a university
				or college must be utilized by the university or college in furtherance of any
				stated academic mission of that university or college.
(g)
City University
or
CUNY
means the City University of New York as described in
				section
				6202
				(2) of the Education Law, including each
				senior college and each community college.
(h)
Commissioner
means the
				Commissioner of Economic Development.
(i)
Community
means the
				census tract or tracts containing an approved tax-free NY area and the census
				tracts immediately contiguous to such census tract or tracts.
(j)
Community college
means
				a college established pursuant to the provisions of article 126 of the
				Education Law, and providing two-year or four-year post-secondary programs in
				general and technical educational subjects and receiving financial assistance
				from the State other than a community college of CUNY.
(k)
Competitor
means a
				business that produces, manufactures, or sells the same or substantially
				similar product or provides the same services, and competes for the same
				customers or clients as an applicant for the START-UP NY Program.
(l)
College
means a
				not-for-profit educational institution given the power to confer associate,
				baccalaureate or higher degrees in this State by the Legislature or under the
				Education Law.
(m)
Contract
can mean any agreement, including but not limited to
				a subcontract, lease, grant, bond, or covenant between two or more
				entities.
(n)
Correctional
				facility
shall have the same meaning as defined in section 431 of the
				EDL, and designation of which shall be provided in accordance with section 435
				of the EDL.
(o)
Department
means the New York State Department of Economic
				Development.
(p)
Directly
				adjacent
means next to, adjoining or sharing a common border or
				boundary.
(q)
Downstate New
				York
means Nassau, Suffolk, and Westchester counties, and the counties
				of New York City (New York, Queens, Kings, Richmond, and Bronx).
(r)
Economically distressed
				community
means a community identified as having such criteria
				indicative of economic distress, including but not limited to rates of poverty,
				receipt of public assistance, or unemployment as the commissioner deems
				appropriate to demonstrate that a community is in need of economic
				assistance.
(s)
EDL
means the Economic Development Law.
(t)
Eligible land
means
				vacant land or space that is eligible for designation as a tax-free NY
				area.
(u)
High tech
				business
means a business engaged in the design, development, and
				introduction of new biotechnology, information technology, remanufacturing,
				advanced materials, processing, engineering or electronic technology products
				and/or innovative manufacturing processes, and meet such other requirements for
				a high-tech business as the commissioner shall develop.
(v)
Incubator graduate
means
				a business which has been certified as having successfully completed residency
				in a New York State incubator or innovation hot spot after having met the
				milestone or benchmark requirements established by the incubator or hot spot
				management for business growth including such factors as growth in employment,
				sales, profitability and physical space.
(w)
Lease
means any contract
				or agreement that provides terms and conditions for occupancy of land or
				space.
(x)
Local economic
				development entity
means a public agency or affiliated not-for-profit
				corporation including, but not limited to, an economic development or
				industrial development agency, local development corporation, local planning or
				development council, and all other such entities concerned with the economic
				development of the municipality or county within which the tax-free NY area is
				designated or is proposed for designation.
(y)
Municipality
means a
				city, town or village for all counties excluding those of Bronx, Kings, New
				York, Queens and Richmond counties. For the counties of Bronx, Kings, New York,
				Queens and Richmond,
municipality
means the City of New
				York.
(z) A
net new
				job
means a job created by a business participating in the START-UP NY
				Program during its period of certification in a tax-free NY area that satisfies
				all of the following criteria:
(1) is new to
				the State;
(2) has not been
				transferred from employment with another business located in this State,
				through an acquisition, merger, consolidation or other reorganization of
				businesses or the acquisition of assets of another business, or except as
				provided in section 431(6)(d) of the EDL and section
				220.6(c) of this
				Part, has not been transferred from employment with a related person in this
				State;
(3) is not filled by an
				individual employed within the State within the immediately preceding 60 months
				by a related person;
(4) is either
				a full-time wage-paying job or equivalent to a full-time wage-paying job
				requiring at least 35 hours per week; and
(5) is located in a tax-free NY area and
				filled for more than six months during each year for which the tax benefits are
				being granted.