Is NYS the Northeast’s TBED Leader?
How does New York compare to other northeastern states in terms of technology-based economic development (TBED)? According to SSTI, a non-profit group that supports efforts to strengthen economies through technology and innovation, TBED requires a multi-faceted approach. In addition to research capacity and a skilled workforce, economies need capital along with initiatives to commercialize research.
In the past year, New York State has eliminated the income tax for manufacturers and established a 20% property tax credit. The Empire State is also meeting its investment commitment to the Buffalo Billion initiative, a regional effort that will create a high-tech manufacturing hub, help commercialize research at the Buffalo Niagara Medical Campus, and support the Edison Welding Institute center.