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New York State is currently home to over
50 incubator facilities, including the oldest
incubator in the U.S., Batavia Industrial
Center in the Finger Lakes region, considered
one of the most important in the nation.
Business incubators are important because they encourage the development
of new businesses and foster local economic
development. Reflecting some of New York's
major goals, incubators create new jobs
and new wealth by conceiving and developing
innovative technologies.
New York State has ranked second nationally
in the number of new businesses incorporated
since 1993, and holds between 9 and 10 percent
of new businesses in the U.S. Two main factors
have contributed to this high level of new
business activity in the State,
the high level of:
- university-based research and development
-- New York State is ranked 2nd in total
university research and development
expenditures ($2.76 billion); and,
- entrepreneurial activity supported
by technology and business incubators
-- New York is ranked 5th nationally
with the most fastest-growing new
entrepreneurial businesses (2004) --
Entrepreneur Magazine.
For more information contact Empire State
Development at 1-800-STATE-NY or 1-800 782-8369.
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