Qualified Emerging Technology Company Employment Credit

This credit rewards companies for creating jobs.

What is a Qualified Emerging Technology Company (QETC)?

A QETC is a company in New York State. It must have product sales of $10 million or less each year. It must also meet one of these criteria:

• Main products or services include:

  • Advanced materials and processing
  • Engineering, production and defense
  • Electronic and photonic devices and components
  • Information and communications technologies
  • Biotechnologies and nanotechnologies
  • Remanufacturing technologies

• Research and development (R&D) activities:

  • The company does R&D in New York State.
  • Its ratio of research funds to net sales is at least as high as the average ratio for all companies, as determined by the National Science Foundation.

Employment Credit Details

• The company must increase its employment by at least 1 percent.
• The credit is about $1,000 for each new employee.
• The credit is available for three years if the company stays eligible.