EXCELSIOR JOBS PROGRAM OVERVIEW
Overview
The Excelsior Jobs Program will provide job creation and investment incentives to firms in such
targeted industries as biotechnology, pharmaceutical, high-tech, clean-technology, green
technology, financial services, agriculture and manufacturing. Firms in these strategic
industries that create and maintain new jobs or make significant financial investment will be
eligible for up to four new tax credits. The Program will encourage businesses to expand in and
relocate to New York while maintaining strict accountability standards to guarantee that
businesses deliver on job and investment commitments. Program costs are capped at $250
million annually to maintain fiscal affordability and ensure that New Yorkers realize a positive
return on their investment.
Tax Credits
Firms in the Excelsior Jobs Program may qualify for four new, fully refundable tax credits.
Businesses claim the credits over a five year period. To earn any of the following credits firms
must first meet and maintain the established job and investment thresholds outlined in
Program Eligibility below:
The Excelsior Jobs Tax Credit: A credit of between $2,500 and $5,000 per new job to cover a
portion of the associated payroll cost.
The Excelsior Investment Tax Credit: Valued at two percent of qualified investments.
The Excelsior Research and Development Tax Credit: A ten percent credit for new investments
based on the Federal Research and Development credit.
The 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.
