Episode Summary: In this episode, we dive into the New York State Excelsior Jobs Program and explore how college access businesses can take advantage of its generous tax credits and incentives. Designed to foster economic growth and job creation in strategic industries, the Excelsior Jobs Program offers a unique opportunity for businesses focused on education, workforce development, and community impact. We’ll break down the program’s benefits, eligibility requirements, and application process to help you determine how your organization can qualify and grow in New York State.

Key Highlights:

1. What is the Excelsior Jobs Program?
   • A New York State initiative offering refundable tax credits to businesses that create jobs, make investments, and contribute to strategic industries.
   • Ideal for businesses focused on economic development and community impact.
2. Why It Matters for College Access Businesses:
   • Tax credits can offset operating costs, enabling you to reinvest in your mission to support students.
   • Eligibility extends to organizations engaged in software development, workforce development, or educational technology.
3. Available Tax Credits:
   • Excelsior Jobs Tax Credit: Up to 6.85% of wages per net new job (7.5% for green projects).
   • Excelsior Investment Tax Credit: 2-5% of qualified investments, including green projects and childcare services.
   • Excelsior Research & Development Tax Credit: Up to 50% of the federal R&D tax credit for NYS expenditures (up to 6-8%).
   • Excelsior Real Property Tax Credit: Benefits for businesses locating in distressed areas.
   • Excelsior Child Care Services Tax Credit: 6% of expenditures for child care services for employees.
4. Strategic Industries Covered:
   • Scientific research, software development, manufacturing, and life sciences.
   • Businesses in green initiatives, renewable energy, and clean technologies.
5. Green Projects & CHIPS Projects:
   • Enhanced credits for businesses reducing greenhouse gas emissions or supporting clean energy technologies.
6. Eligibility for College Access Businesses:
   • Highlight job creation metrics (e.g., hiring college coaches, developing apps).
   • Document community impact and partnerships with schools or organizations.
   • Showcase investments in educational tools and software.
7. How to Apply:
   • Contact Empire State Development (ESD) for guidance.
   • Submit a Consolidated Funding Application (CFA) with documentation of job creation, investments, and community initiatives.
   • Work with a tax professional to maximize potential benefits.

Quotes from the Experts:

• "The Excelsior Jobs Program encourages businesses to expand in and relocate to New York while maintaining strict accountability standards to guarantee that businesses deliver on job and investment commitments." – Empire State Development
• "Given your college access program and its focus on creating opportunities and hiring staff: Highlight any software development, educational technology, or workforce development aspects of your business." – Expert Analysis