New Flyer is the largest manufacturer of heavy-duty transit buses in North America with 3,800 employees and thirteen facilities across the U.S. and Canada. As part of the capital plan to upgrade public transportation in the New York City area, the Metropolitan Transportation Authority (MTA) awarded New Flyer a contract to refresh the entire system’s bus fleet. The contract required a portion of the final product be manufactured in New York State.
The economic developer’s toolkit in New York includes a variety of tax incentives, abatements, grants and loans that can be quite confusing, even for a seasoned professional. Many incentives at the state and local levels can be utilized for one project but not all incentives can be layered. In the case of the state’s two largest tax incentive programs – the Excelsior Jobs Program and Start Up NY – only one can be applied to a company’s project. That brings up the question – which program is best suited to benefit a company’s growth?