RIT is the first private university to be selected to participate in the state’s START-UP NY business development initiative.
Under the program, qualifying businesses that locate in those spaces and create new jobs will pay no state or local taxes for 10 years.
The state has approved two RIT-owned properties, one of them at 40 Franklin Street in downtown Rochester, and the other at the Venture Creations incubator in Henrietta.
RIT President Bill Destler says the university expects to quickly fill the space that RIT has had approved for the program
Last month, the state announced eight public colleges and universities that will be participating in the program.