Two RIT properties approved to join START-UP NY

Updated: 04/10/2014 4:13 PM
Created: 04/10/2014 1:24 PM WHEC.com

The Rochester Institute of Technology is the first private college in the state to be selected to participate in START-UP NY.

START-UP NY promotes businesses to open on or near college campuses and take part of the school's program. In exchange, those businesses will not have to pay taxes for 10 years.

"Facilitating innovation and the entrepreneurial spirit are in RIT's DNA," RIT President Bill Destler continued. "So we are confident that the incentives associated with this program will provide tremendous opportunities to retain more of our talented graduates in Upstate New York as well as reconnect with out-of-state alumni who would consider relocating or expanding their businesses here. We've had many inquiries already and we look forward to capitalizing on this program to grow new jobs and create additional co-op and employment opportunities for our students and graduates."

Destler said the school expects to quickly fill the 56,000 square feet of RIT space approved for the program. The spaces include several floors of 40 Franklin Street and two floors of a building on Tech Park Drive in Henrietta.

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