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Tax-free zones draw 3 companies to LIU Post, Stony Brook University

LIU Post in Brookville will get its first

LIU Post in Brookville will get its first Start-Up NY tenant, and Stony Brook University will be home to two more Start-Up NY tenants, while LIU Post in Brookville will get its first Start-Up NY business, Gov. Andrew M. Cuomo announced Sept. 16, 2015.

Three more small businesses are coming to Long Island to participate in Start-Up NY, the state-designated tax-free zones at colleges and universities.

LIU Post in Brookville will get its first Start-Up NY tenant, and Stony Brook University will be home to two more businesses, Gov. Andrew M. Cuomo announced Wednesday. The three businesses have promised to create 30 jobs and spend more than $1 million on Long Island, according to Empire State Development, which oversees the program.

Statewide, Start-Up NY is adding 15 businesses.

The program "is changing the way our state does business, and with 15 more companies joining today, it is clear that our approach is delivering results," Cuomo said in a statement.

The new business at LIU Post, social media company SavvyRoo Inc., says it will hire nine people and invest $10,800.

High-tech entrepreneurship is a "cornerstone" of LIU Post, its president, Kimberly Cline, said in a statement. "We will continue to recruit additional companies that align with our mission and strategic goals," she said.

This is "just an exciting first step for them," added Leslie Whatley, executive vice president of Start-Up NY.

Stony Brook will be home to Iontraxx LLC, a newly formed company that is moving from Florida to New York, with plans to hire 13 people and invest $420,000. The company develops software applications for the solar energy industry. The university's other new tenant will be Web4Sign Corp., a new company that specializes in digital signatures and aims to create eight jobs and invest $650,000. The two companies will join Stony Brook's 17 existing Start-Up NY tenants.

Separately, Farmingdale State College hosts two Start-Up NY businesses.

Altogether, the 143 companies in the tax-free zones have said they will create 3,841 jobs and invest more than $184 million in capital improvements and equipment across New York over the next five years, state officials said.

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