Tax Law Changes Encourage Manufacturing Jobs
Look for growth in New York manufacturing jobs and STEM investment as tax laws pivot.
Tax law changes and the Excelsior Jobs Program combined to rewrite the investment picture for manufacturing and STEM jobs in New York, according to the Tax Foundation’s latest Location Matters report.
The greatest pivots have been in tax breaks related to the establishment of new R&D and manufacturing facilities, which affected the siting of Solar City in Buffalo and the growth of high tech firms throughout the state.
Capital-intensive manufacturing efforts are taxed at 48% below the national median, while newly-established research and development companies are taxed at a token rate of 1.9%.
Expect even more growth in manufacturing job opportunities over the next few years as additional incentives for those companies phase in; registered users can be alerted via email as these jobs become available.