About this programme
The Excelsior Jobs Program is run by Empire State Development (ESD) and encourages businesses to expand in, or relocate to, New York State. It pairs refundable tax credits with accountability standards, so businesses only earn credits after they deliver on the job and investment commitments set out in a preliminary schedule of benefits.
The program covers a range of tax credit types, not a single flat benefit: a jobs credit on wages, an investment credit on qualified capital spending, an R&D credit, a real property credit for distressed areas, and a child care services credit. Businesses can combine the credits that apply to their project.
Standard benefits run for up to 10 years, but the program also has enhanced tiers for semiconductor supply chain projects and for Green/Green CHIPS projects tied to clean energy and greenhouse gas reduction, which can run up to 20 years.
How it works
Excelsior Jobs Tax Credit: up to 6.85% of wages per net new job (up to 7% for semiconductor supply chain projects, up to 7.5% for Green/Green CHIPS projects).
Excelsior Investment Tax Credit: 2% of qualified investments standard, up to 3% for semiconductor supply chain projects, up to 5% for Green/Green CHIPS projects or child care services investments.
Excelsior Research and Development Tax Credit: 50% of the federal R&D credit, capped at 6% of research expenditures standard, up to 7% for semiconductor supply chain, up to 8% for Green/Green CHIPS projects.
Excelsior Real Property Tax Credit: available to businesses in distressed areas and targeted industries that meet higher job/investment thresholds.
Excelsior Child Care Services Tax Credit: up to 6% of net new child care services expenditures.
Credits are claimed over up to 10 years under a preliminary schedule of benefits, except Green CHIPS projects, which are eligible for up to 20 years across two separate 10-year phases with their own job and investment thresholds.
A business must meet and maintain the job and investment thresholds set in its schedule of benefits to earn and keep its credits.
Who can apply
Job-creation thresholds vary by industry: 5 net new jobs for scientific research and development, software development, agriculture, manufacturing, music production and life sciences; 25 net new jobs for financial services back office and other back-office functions; 50 net new jobs for distribution; 100 net new jobs for entertainment companies; and 150 net new jobs plus $3 million investment for other firms.
A retention-focused track exists for strategic industries: 25 or more existing employees generally, or manufacturing businesses retaining 5 or more employees.
Semiconductor supply chain projects must make products or develop technologies primarily aimed at supporting the growth of semiconductor manufacturing and its related equipment and material suppliers.
Green projects must operate in agriculture, manufacturing, software development or scientific research and development, and run projects primarily aimed at reducing greenhouse gas emissions or supporting the use of clean energy.
Green CHIPS projects require 500 or more net new jobs, at least $3 billion in qualified investment, prevailing wage commitments, a community investment plan, and a minimum 15:1 benefit-cost ratio.
Businesses seeking the child care credit must provide child care services to employees that are proximate and convenient to the project location.
How to apply
- Contact the appropriate ESD Industry Director or your ESD Regional Office.
- Complete New York State's Consolidated Funding Application and submit it to the relevant regional office.
Frequently asked
How many jobs do I need to create to qualify?
It depends on your industry: as few as 5 net new jobs for software development, life sciences, manufacturing or R&D firms, up to 150 net new jobs plus $3 million in investment for firms outside the listed categories.
How long can I claim Excelsior credits?
Standard projects can claim credits for up to 10 years under a preliminary schedule of benefits. Green CHIPS projects can claim credits across two 10-year phases, up to 20 years total.
What if my project doesn't fit a standard category?
There's an 'other firms' category requiring 150 net new jobs and $3 million in investment, plus enhanced tracks for semiconductor supply chain and Green/Green CHIPS projects with their own thresholds.
How do I apply?
Contact an ESD Industry Director or your ESD Regional Office, then complete New York State's Consolidated Funding Application.
More funding in New York
Global NY Fund Grant Program
Empire State Development · New York
Reimburses up to $25,000 of trade-show, market-research and export-readiness costs for New York companies selling abroad.
Launch NY Seed Fund
Launch NY · New York
Upstate New York's most active seed fund invests roughly $10,000 to $200,000 in high-growth startups alongside free mentoring.
New York Life Sciences R&D Tax Credit
Empire State Development (New York State) · New York
A refundable New York State credit for new, ESD-certified life sciences companies: 15% of in-state R&D spend (20% for firms with fewer than 10 employees), capped at $500,000 per year for up to three years.
New York Ventures Pre-Seed and Seed Matching Fund
Empire State Development (NY Ventures) · New York
State-matched equity investments of $50,000 to $250,000 for early-stage New York startups that have raised under $2 million to date.
NYC Future Fund
City of New York, NYC Department of Small Business Services · New York
Revenue-based loans of $25,000 to $500,000 for New York City small businesses, with repayments that flex with revenue.
Rev: Ithaca Startup Works
Cornell University Center for Regional Economic Advancement · New York
Ithaca coworking space, mentorship and hardware-prototyping accelerator cohorts for startups in any field, run by Cornell's regional economic development center.
All 13 programmes in New York →
Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.