Excelsior Jobs Program

The following credits are available:

• Excelsior Jobs Tax Credit: A credit of up to 6.85% of wages per new job to cover a part of the payroll cost;
• Excelsior Investment Tax Credit: A credit valued at 2% of qualified investments;
• Excelsior Research and Development Tax Credit: A credit of 50% of the Federal Research and Development credit capped at six percent of research expenditures in New York State; and
• Excelsior Real Property Tax Credit: A credit for businesses in certain industries in certain areas.

Businesses in the following industries can apply:

• Biotechnology, clean technology, or green technology;
• Pharmaceuticals;
• Financial services;
• Agriculture;
• Music production or entertainment; or
• Manufacturing.

Businesses in the following industries can apply: Businesses must make a "substantial commitment to growth" to be eligible. This commitment is met through jobs or investments that lead to jobs. The program is on two tracks: Job Growth and Investment. For the Job Growth track, the business must create at least 5 to 100 new jobs, depending on the industry. For the Investment track, businesses must create and keep at least 50 jobs and make a significant financial investment.