The sorry state of upstate New York’s economy has defied the well-intentioned efforts of governors, legislatures and entrepreneurs for more than a generation. Some hoped that state spending—sadly, in the form of prison construction—would spur new development. Others have been waiting for the holy grail of casino gambling.
Now, Gov. Andrew Cuomo has come up with a creative and potentially game-changing partnership between the public and private sectors. Mr. Cuomo recently announced the creation of tax-free zones for businesses that set up shop on the campuses of the vast State University of New York system. In addition, the zones would be extended to private university and college campuses north of Westchester County. Qualifying businesses would be exempt from sales tax, property tax and state income tax for the first 10 years of operation. Read More