Excelsior Jobs Program

Businesses in certain industries can take part in the Excelsior Jobs Program. Businesses can claim, over ten years, tax credits in exchange for investment and new jobs in New York State.

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.