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Economic Development One part of the ongoing economic success of Tech Valley is the development programs offered by the state. New York has recognized the importance of high-tech industries, small businesses and entrepreneurship and has backed this commitment with a variety of incentive programs.   Among New York state’s investments: Since 1995, more than $1 billion has been commited to high tech research & development projects.  $280 million to increase the availability of venture capital for emerging businesses $1.7 million in a program to help employers attract qualified technical workers This investment has helped boost New York to second nationally in the number of new businesses incorporated since 1993. Nearly 10% of all new businesses started in the country happen in New York. Empire Zones Specified areas in Tech Valley offering significant incentives for business. Loan & Grant Programs State and local governments and private institutions offer a wide variety of loan and grant programs to businesses and entrepreneurs. Local Incentive Programs Counties, cities and towns provide economic assistance through revenue bonds, tax credits, grants and other progams. State Incentive Programs New York is ready to assist businesses large and small with incentives, research facilities, entrepreneurial assistance and many other programs.