Five companies that promise to create 72 jobs and invest $3.7 million in the Buffalo area within five years have been approved to join a network of tax-free zones linked to the University at Buffalo, the university and Gov. Andrew M. Cuomo’s office announced Wednesday.
They are the newest companies added to the Start-Up NY incentive program that lowers or eliminates most state taxes for 10 years for companies that agree to create jobs in properties connected to New York’s colleges and universities.
Since the program began, 59 companies – including the five latest – have vowed to move or expand on or off the UB campus, with plans to create 1,851 jobs and invest $54.5 million in the region.
The five newest UB Start-Up NY companies are:
• Abcombi Biosciences, a company that licenses UB-created biotechnology to develop products to improve the efficiency of and access to vaccines. It plans to create 47 jobs and invest $1.86 million in its location at 73 High St.
• Buffalo Automation Group, a robotics company and winner of the Buffalo Student Sandbox contest. It develops self-navigation technology for boats and plans to create five jobs and invest $675,000 after moving into the UB Gateway Building.
• Healthcare Hub, a wholesale distributor of medical supplies and equipment, which plans to expand and create a separate research and development division for eco-friendly medical supplies. It would create 11 jobs and invest $1.1 million in the Olmsted Center for Sight.
• Laboratory Integration Management Services, a new software development company that links electronic medical record systems installed at hospitals to firms offering diagnostic genetic testing. The company expects to create six jobs and invest $50,000 in the Gateway Building.
• Snowberg, another new software development company, this one developing a website and mobile app, named Ditoo, that operates as a social media, e-commerce platform. Snowberg would create three jobs and invest $45,500 after moving into the Gateway Building.