Excelsior Jobs Program

The Excelsior Jobs Program helps businesses in certain industries in New York State. Businesses can get tax credits over 10 years for investing and creating new jobs.

Available credits

Businesses can get these tax credits:

• Excelsior Jobs Tax Credit: up to 6.85 percent of wages per new job to help with payroll costs
• Excelsior Investment Tax Credit: valued at 2 percent of qualified investments
• Excelsior Research and Development Tax Credit: 50 percent of the Federal Research and Development credit, capped at 6 percent of research expenses in New York State
• Excelsior Real Property Tax Credit: for businesses in certain industries and areas

Eligible industries

Businesses in these industries can apply:

• Biotechnology, clean technology or green technology
• Pharmaceuticals
• Financial services
• Agriculture
• Music production or entertainment
• Manufacturing

Program tracks

To be eligible, businesses must grow through jobs or investments. The program has two tracks:

• Job Growth track: Create 5 to 100 new jobs, depending on the industry.
• Investment track: Create and keep at least 50 jobs and make a significant financial investment.