Three local technology businesses will discuss their participation in Gov. Andrew M. Cuomo's Start-Up NY tax-free zones program during an event at Stony Brook University on Monday.
SynchroPET Inc., STS Global Inc and Unique Technical Services LLC have been accepted into Stony Brook's zone, where they won't pay state and local taxes for up to 10 years. Their employees at that location won't pay state income taxes for as long as 10 years.
In return for the tax breaks, the trio will create 55 jobs over five years and invest $2.2 million in equipment, according to the businesses' applications obtained by Newsday under the state Freedom of Information Law.See alsoWho's taking part in START-UP NY?
Stony Brook is home to 19 of Long Island's 21 Start-Up NY participants; the others are at Farmingdale State College.
Monday's event will be held at 1 p.m. in the university's Center for Excellence in Wireless and Information Technology on the Stony Brook campus.
Also speaking will be Leslie Whatley, the Empire State Development official who runs Start-Up NY, and Yacov Shamash, the university's engineering school dean.
Empire State Development, the state's primary business-aid agency, has held similar events across the state in the wake of criticism about the effectiveness of Start-Up NY, which is about a year old.