Firms in the Excelsior Jobs Program may qualify for four fully refundable tax credits. Businesses claim the credits over a benefit period of up to 10 years. Approval is discretionary.
Excelsior Jobs Tax Credit: A credit of 6.85% of wages per net new job.
Excelsior Investment Tax Credit: Valued at 2% of qualified investments.
Excelsior Research and Development Tax Credit: A credit of 50% of the Federal Research and Development credit up to six percent of research expenditures in NYS.
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 (Regionally Significant Project).