Economic Impact

NYU is a top driver of New York’s local and regional economy. The University:

  • is one of New York City’s largest employers
  • accelerates economic activity through business development and technological innovations
  • contributes financial assistance and volunteer aid to hundreds of nonprofit organizations
  • attracts tens of thousands of students, scholars, and visitors to NYC
  • generates billions of dollars of state and city tax revenue
  • supports countless vendors and contractors through direct procurements and indirect spending multipliers

Report: NYU's Economic Impact Profile

NYU commissioned a survey of economic impact profile, using data from 2014 (the year with the most complete data available at the time of the study). Explore highlights below or read the full report: "The Economic Impact of New York University"

Start Up NY Program at NYU

NYU's Incubator programs have been designated as tax-free areas through the New York State program called Start Up NY which provides tax benefits to companies who create new jobs annually.  Businesses that are accepted into NYU's incubators can apply to the Start Up NY program. Please note that a company must first be accepted into NYU's incubators before seeking acceptance into the Start Up NY program at NYU.

If you are interested in applying for this program, please review NYU's Campus Plan and Conflict of Interest Policy prior to submitting an application.  Applications are reviewed on a rolling basis as space becomes available in our incubators.

In order to join Start Up NY at NYU, you must first be accepted into one of our incubators: either the Data Future Lab on Varick Street, the Digital Future Lab in DUMBO, or ACRE in Downtown Brooklyn. 

You can apply here and select the incubator you're interested in. A staff member from the incubator will contact you in the coming weeks if we are interested in continuing the application process with your company. Once you are close to acceptance at the incubator, we can begin the process of applying through New York State for Start Up NY, which is a separate application process to the one above. 

A few things to keep in mind for Start Up NY:

1.) It's a 10-year program, but the maximum you can be in NYU's Tax-Free Area is 2 years. Afterwards, you will need to find another Start Up NY Tax Free Area outside NYU in order to keep your benefits. You can view additional spaces in the program on the Start Up NY website.

2.) You have to be creating new jobs each year, and they have to be a majority "High Tech" jobs, such as developers and engineers.

3.) Current employees of your company will not be eligible for benefits. It will only be for new employees you hire, and they are not eligible until they have been with the company for six months.

4.) You have to either be:
a - "in the development of high technology", meaning developing some kind of proprietary technology that you are working on in the tax-free area, or
b - "in the formative stage of development", which the State defines as being i. in the testing or market evaluation phase of your product, ii. raised less than $1 million in equity capital, iii. not a publicly traded entity, iv. not receiving profits from sales, and v. have been formed or incorporated for five years or less.

5.) If you are accepted into the incubator, you cannot physically locate there until you are accepted into Start Up NY. This can take an additional 3-4 months after acceptance into the incubator.

6.) After you are accepted into Start Up NY, you must then physically locate into the incubator to receive tax benefits. You cannot operate in a separate space, even if it is adjacent to the University. The only designated Start Up NY spaces are at our three incubators.

Apply now for Start Up NY at NYU.

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