Hone Coworks is excited to announce that our Great Oaks location has been approved as a START-UP NY Tax-Free Area (TFA) Space with the University at Albany.
Launched in 2014, the START-UP NY program promotes entrepreneurialism and job creation in New York State through a combination of tax incentives and innovative academic partnerships with New York State colleges and universities.
New and expanding businesses in the STARTUP-NY program operate tax-free for 10 years when they locate to Tax-Free Areas (TFAs) on or near eligible university or college campuses in New York. Individual employees of START-UP NY businesses that are located within a TFA are also eligible for a Personal Tax Exclusion during the 10-year duration of their business in the program.
Hone Coworks is an eligible START-UP NY TFA – what does that mean for my business?
Businesses that participate in START-UP NY with the University of Albany can take advantage of Hone’s flexible private offices and amenities while benefitting from UAlbany’s advanced research laboratories, development resources and experts in key industries.
Hone – Great Oaks is located just down the road from the University of Albany main campus and only one block from the onramp to I-87 and I-90. This makes it a great location to collaborate with businesses, students, professors and program staff in our state-of-the-art meeting rooms or shared workspaces. In turn, UAlbany faculty and students have direct access to business leaders and real-world opportunities for turning innovative ideas into commercial reality.
Fully furnished private offices at Hone Coworks are available in different sizes that accommodate from 1 to 9 people. and multiple offices can be grouped together for larger teams. There are no leases; month-to-month membership allows your operation to scale freely, meeting your workplace needs both now and down the road.
What businesses are eligible to participate?
To participate in START-UP NY with the University of Albany, your company must meet the following requirements.
- Be a new business in New York State, or an existing New York business relocating to or expanding within the state.
- Create new jobs and contribute to the economic development of the local community.
How do you apply to START-UP NY with the University of Albany?
If you are interested in pursuing START-UP NY with the University of Albany for your business, email Matt Grattan, Director of Community & Economic Development at firstname.lastname@example.org.
Learn more about UAlbany’s START-UP New York plan on their website at albany.edu.