By Katie Muller
LIU Post recently applied to Andrew Cuomo’s START-UP NY program, potentially turning the campus into one of the first private colleges on Long Island with a tax-free zone for businesses.
In June 2011, Governor Cuomo signed a legislation that established the use of State Small Business Credit Initiative funds to aid growing businesses in New York. If an application gets approved, businesses will not have to pay local and state taxes for up to 10 years. Since businesses will not have to worry about paying taxes in these tax- free zones, they can focus on establishing themselves and growing as an entity.
“START-UP NY is a state government program that helps businesses start, expand, or relocate to a tax-free zone,” explained Michael Glickman, LIU’s Chief of Strategic Partnerships and University Advancement. “LIU applied for a START-UP designation, and was recently chosen to participate in the program.”
Glickman explained that his next goal is to “connect with qualified businesses to take residency at The University Center.” The START-UP NY space will be located in Bush Brown Hall. Glickman did not say which businesses will set up residence at LIU, or even if
any businesses have approached the university yet to participate in the program. He stated: “The University is working to establish a process for identifying and vetting potential businesses that meet New York State’s requirements. The process will take some time to evolve, and the timing has not yet been determined.”
Glickman stated that these start-up businesses will positively affect students. “START-UP NY[s initiative] aligns quite well with LIU’s mission of sharing knowledge and resources with our surrounding communities. Our goal is to connect with businesses that will create opportunities for our students to gain marketable experiences through professional training. We are excited about the potential of this program, and by the possibility it holds for LIU to play a role in economic development within our community.”
“This is the first time I’m hearing about this,” said Rebecca Rosenberg, a senior Education major. “I’m worried that having more business on campus will raise our tuition.”
“There are so many businesses opening up on campus now,” said Cara Frank, a senior Broadcasting major. “The school screams that they’re about the students, but in the end it seems like we’re just the customers and it’s mostly all about business.”
“We applaud Governor Cuomo for his leadership in establishing this groundbreaking initiative, empowering centers for higher learning, business, and members of the community to create jobs and support economic growth” stated Glickman.