Summary
Refundable tax credit on corporate franchise tax and personal income tax; five components (Jobs Tax Credit, Investment Tax Credit, Real Property Tax Credit, R&D Credit, Excelsior Capital Grant); annual targets and "preliminary schedule of benefits" with ESD-issued Certificate of Tax Credit.
Benefit
- Percentage
- —
- Flat
- —
- Duration
- —
- Max annual
- — (taxpayer)
- Max total
- — (taxpayer)
- Carryforward
- —
Program metadata
- Distribution
- taxpayer_earned
- Claimant subject
- business
- Refund/transfer election
- refundable_only
- Program family
- —
- Effective
- —
- Sunset
- —
- Application deadline
- —
- Transfer discount
- —
Hard requirements (2)
- min_new_jobsMinimum net new jobs varies by component and industry; simplified threshold of ≥10 for pilot
- min_wage_pctAverage wage of new jobs must meet or exceed 100% of average statewide wage
Preference / tiering rules (0)
None.
NAICS industries (0)
Any.
Geo zones (1)
- statewide — · Statewide (ESD-allocated, annual targets by region)
Tags (7)
- a03_pending: true
- a03_blocker_reason: Milestone schedules (annual Certificate of Tax Credit issuance); state-agency allocation gate (ESD); 5 components
- clawback_provision: true
- requires_application: true
- pre_approval_required: true
- allocation_method: discretionary
- annual_cap_amount: 200000000
Tax bases
- corporate_income_taxprimary
- personal_income_taxprimary
Source
New York Economic Development Law Article 17; NY Tax Law Articles 9-A and 22
Last verified: 2026-04-19