Why Central New York?

There’s never been a better time to grow and expand your business in Central New York!

With its available workforce, market accessibility, natural advantages and quality of life, the region is a great place to relocate or extend your business services. CenterState CEO brings extensive economic development expertise and experience; strong knowledge of the local, county, and state landscape for everything from site selection to incentive opportunities; and a passion for growing the region to your site search. We are here to help.

 

Incentives

New York state offers an array of incentives to encourage business investment and economic development within the Empire State. These incentives, which take the form of tax credits, deductions, or abatements, can reduce a company's overall tax expenditures and support their success here. CenterState CEO works with a range of public and private sources to help businesses secure financing, support their workforce needs, and access the right resources to advance their growth and expansion plans.

Tax Incentives for Manufacturers

  • 0% Corporate Tax Rate for Qualified New York Manufacturers
  • Real Property Tax Credits for Qualified New York Manufacturers

Excelsior Jobs Program

The New York State Excelsior Jobs Program provides job creation and investment incentives to qualified firms in targeted industries, in five fully refundable tax credits: Excelsior Investment Credit, Excelsior Jobs Tax Credit, Excelsior Research and Development Tax Credit, Excelsior Real Property Tax Credit, Excelsior Child Care Services Tax Credit.

More on Excelsior Jobs Program
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Workforce

Highlights of Central New York's workforce include:

  • Advanced Manufacturing Workforce: 85,500+ potential employees located within three hours, including +6,500 seeking work.
  • Construction Workers: 14,500 within 3-hour drive time
  • Engineering Pipeline: 7,000+ annual engineering graduates awarded regionally.
  • Central New York has a world class educational pipeline focused on K-12 STEM.

Clean Energy

Upstate New York’s power generation needs will be completely met with zero emissions generation by 2030. By then, 70% of this electricity comes from renewable resources (43% from existing New York and Quebec hydroelectric generation, 27% from solar, land-based wind and other renewables), while the other 30% comes from zero emission resources that include nuclear generation.
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Strategic Location

Ideally situated at the center of New York state, and home to the city of Syracuse, Central New York sits with a the broader 12-county region that is a prime location for business growth. Businesses choose to locate in the region for its market accessibility. It is an ideal location for firms - U.S. and abroad - that want to gain a competitive edge and grow.

  • CenterState New York: 12 counties and 1.5 million people.
  • Within reach of 50% of the U.S. and Canadian populations.
  • Less than 300 miles from New York City, Boston, Philadelphia, Baltimore, Toronto and Montreal.

Resilient Climate, Abundant Resources

Over the next 30 years, 143 million people are likely to be uprooted by rising seas, drought, searing temperatures and other climate catastrophes. Without the climate extremes found in other areas of the country, and medium-to-low risk for all natural disasters, Syracuse has been recognized as a climate haven, making this region an ideal location for business growth.

Syracuse and Central New York are also home to abundant natural resources, including access to the largest freshwater system on Earth - The Great Lakes.

Pictured: Oswego, New York marina, on the shores of Lake Ontario
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Regional Recognitions & Advantages

Syracuse and Central New York offer many unique advantages for businesses and residents alike, and those outside the area have taken notice. Accolades include:

  • #22 Best Place to Live in U.S., according to U.S. News and World Report (2023).
  • 9.2 out of 10 Annual BestPlaces Comfort Index.
  • #3 Most Secure Place to Live.
  • Average Commute Time = 18.4 minutes (National Average 26.4 minutes).
  • Syracuse ranks #6 of 15 best cities for millennial homebuyers, by Think Advisor (2021).
  • 48% of homes in Syracuse are affordable for millennials, according to National Association of Realtors (2019).

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Advancing with Micron in CNY

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Micron Technology is building a $100 billion semiconductor manufacturing plant in Central New York. It’s the largest capital investment project in New York State history and one of the largest in U.S. history. Micron is projected to generate significant economic growth for New York state.

Questions and Answers

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Micron by the Numbers

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  • 50,000+ new permanent jobs in New York State by 2055, 70% in Central New York.
  • $9.6 billion annually in real GDP impact from 2025-2055.
  • $17.2 billion in total New York State government revenue (2025-2055).
  • $31 billion in Micron construction spending, with 5,600 related jobs on average at prevailing federal wage for the initial 20 years (2025-2044).

Source: REMI, Inc. Economic Impact Study

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Notable Accomplishments

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  • $27.7 Billion Annual Revenue
  • #1 Largest Memory Chip Maker In The World
  • 127 on 2022 Fortune 500
  • 50,000 Patents Granted And Growing
  • 45,000+ Team members worldwide
  • Company giving in 2021 totaled $13M. Company-wide, volunteers worked 271,942 hours in 2021.

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Micron’s Awards and Recognitions

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  • America's Greatest Workplaces for Diversity 2023 (Newsweek)
  • Best Diversity and Inclusion Strategy Award 2022
  • Bloomberg Gender-Equality Index 2023
  • VETS Indexes 3-Star Employer
  • Best places to Work for Disability Inclusion
  • America’s Most Just Companies CNBC 2022

We're Here to Help

Do you want to take the next step to grow your business in Central New York? Contact CenterState CEO Vice President of Economic Development Honora Spillane hspillane@centerstateceo.com.

Our team can help you with :

  • Inventorying sites for business expansion.
  • Understanding available incentives, including grants, tax incentive opportunities and low-interest loans.
  • Navigating zoning approval processes.
  • Coordinating with government agencies on issues such as water, sewers and roads.
  • Discovering the best resources to reduce costs.
  • Locating the best teams in the Central New York region to help you set up your business.

Contact us to explore how we can assist in your success, here in Central New York.

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Honora Spillane

Vice President of Economic Development

Email me

Additional Resources

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CNY-Numbers

Central New York by the Numbers

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Central New York - A High-Value Community

Central New York - A High-Value Community

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Smart Systems

Smart Systems by the Numbers