Governor Cuomo announces SWPS as a part of START-UP NY

image 3Sustainable Waste Power Systems is now a part of START-UP NY. Governor Cuomo announced this on the press release on December 29, 2014.

SWPS joins 12 other businesses that will expand or locate in NY under the flagship START-UP NY program. Though this program, SWPS will now be under a no- operating tax umbrella that would allow the business to focus all their resources on commercialization, R&D and subsequent expansion.

SWPS will now be headquartered in Building 22 at Tech City at Kinsgton, NY.

 

Governor Cuomo Announcement:

“Sustainable Waste Power Systems, Inc. (SWPS) is a new-to-New York business that provides products and services built around its patented waste-to-energy system marketed as GIPO – Garbage In Power Out. SWPS is commercializing this new, clean conversion process through manufacturing and selling small-scale, on-site, waste conversion systems with net positive economic advantages for the customer. The company will locate in Building 22 at Tech City and create 39 new jobs while investing $516,780.”

About About START-UP NY: START-UP NY is a flagship program that provides new and expanding businesses the opportunity to operate completely tax-free — including no income tax for employees and no sales, property or business tax — while partnering with higher education institutions. These business and employee tax benefits are be available for up to ten years. After five years, for extremely high-earners, there is a limit on the amount of employee earnings exempted from the Personal Income Tax.