Excelsior Jobs Program
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.
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).
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