New York · Economic Development · NY-EXCEL-001
Excelsior Jobs Program Credits
Publication revised September 24, 2026. Sourcebook page 203.
Credit amount / calculation
Multiple refundable components under an Empire State Development agreement; advance acceptance is essential.
Business fit and eligible activity
Large/strategic manufacturing expansions can receive refundable credits for jobs, investment and research and development. Qualified investment or approved project activity; confirm eligible property, location and taxpayer type.
Eligibility and practical use
This is a situational credit. It becomes useful when the project facts line up with the statutory trigger rather than simply because the applicant is a forest-products business.
Illustrative business benefit
Use-of-credit illustration, not an estimated award: assume the agency or completed tax form establishes a $1,000 credit for the qualifying activity described above. With $600 of eligible tax due, a fully refundable $1,000 award would offset that tax and leave $400 refundable, subject to the program's refund procedure. Obtain the actual program calculation before estimating a project benefit.
Timing / first action
Seek approval before starting the overall project, including site work or construction. Contact the administering agency and secure the required approval before the project is publicly or contractually committed.
Official sources
Related programs
Brownfield Redevelopment Tax Credit
Multiple credit components based on qualified cleanup
Certified brownfield projects can receive substantial site-preparation and tangible- property credits.
Employment Incentive Credit
Additional credit tied to investment tax credit property
Businesses that qualify for investment tax credit and increase employment training; where the program also requires investment, satisfy both tests.
Investment Tax Credit
generally
Broad statutory credit for manufacturers investing in qualifying New York depreciable property.
Clean Electricity Investment Credit (Internal Revenue Code §48E)
Generally
Potentially relevant when a forest-products facility owns qualifying zero-emission generation or energy-storage property.
Clean Electricity Production Credit (Internal Revenue Code §45Y)
Production-based
Alternative to the investment credit for owners/operators of qualifying clean-electricity facilities; potentially relevant to qualifying on-site generation.
Credit for Increasing Research Activities (Internal Revenue Code §41)
Regular research-credit method
A sawmill, secondary manufacturer or biomass business can qualify when it performs genuine technological experimentation to improve a product or process.