Excelsior Jobs Program

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The Excelsior Jobs Program encourages businesses to expand in and relocate to New York while maintaining strict accountability standards to guarantee that businesses deliver on job and investment commitments. 

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Firms in the Excelsior Jobs Program may qualify for four fully refundable tax credits.  Businesses claim the credits over a benefit period of up to 10 years.  To earn credits, firms must first meet and maintain established job and investment thresholds outlined in Program Eligibility below:

Excelsior Jobs Tax Credit:  A credit of 6.85% of wages per net new job.

Excelsior Investment Tax Credit:  Valued at 2% of qualified investments.

Excelsior Research and Development Tax Credit:  A credit of 50% of the Federal Research and Development credit up to six percent of research expenditures in NYS.

Excelsior Real Property Tax Credit: Available to firms locating in certain distressed areas and to firms in targeted industries that meet higher employment and investment thresholds (Regionally Significant Project).

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The following strategic businesses located in or planning to locate in NYS that will create  or retain jobs and make significant capital investments.  

  • Scientific Research and Development firms creating at least 5 net new jobs
  • Software Development firms creating at least 5 net new jobs
  • Financial services (customer service) back office operations creating at least 25 net new jobs
  • Agriculture firms creating at least 5net new jobs
  • Manufacturing firms creating at least 5 net new jobs
  • Back office firms creating at least 25 net new jobs
  • Distribution firms creating at least 50 net new jobs
  • Music Production firms creating at least 5 net new jobs
  • Entertainment Companies creating at least 100 net new jobs
  • Life Sciences Companies creating at least 5 net new jobs
  • Other firms creating at least 150 net new jobs and investing at least $3 million
  • Firms in strategic industries that make significant capital investment that have at least 25 employees; manufacturing firms who retain at least 5 employees are also eligible to apply for participation in the Program

Eligible project types:

  • Job creation
  • Job retention and significant capital investment

How to Apply