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:

1. University-based research and development -- New York State is ranked 2nd in total university research and development expenditures ($2.76 billion); and,  
   
   
2. 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.

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