Sometimes start-ups just need a leg up. Incodema3D, a 3D printing off-shoot of the Ithaca-based, rapid metal prototyping firm Incodema, has been chosen as one of a dozen lucky businesses to participate in the experimental Start-Up NY program. The aim of this economic initiative is to transform college and university communities into tax-free zones to attract new business ventures and create jobs. Start-Up NY members like Incodema3D will be able to operate 100% tax free for up to 10 years, which will give them, and other startups, the financial flexibility to compete.
“Our acceptance into Start-Up NY allows Incodema3D and New York State a level playing field against non-tax states such as Texas and Florida,” said Incodema3D president and CEO Sean Whittaker. “More significantly, it partners us with Cornell University, one of the most prestigious research institutions in the country. I truly feel this program will allow us to create synergy between industry and education, to share experiences and industrial resources with cutting edge research, and to foster greater economic success for everyone involved.”
Incodema3D, which was launched back in January, has since partnered with experts in Cornell’s Creative Machines and Materials Science labs — namely Hod Lipson and Emmanuel Giannelis — to develop novel metals for the 3D printing process, conduct research, and manufacture prototype parts for other startups in the local ecosystem.
“A lot of what’s happening with 3D printing and what we call additive manufacturing is the advancements in the materials,” Whittaker said. “The materials have really popped within the last two years, where we’re printing in real titanium and Inconel and stainless steel, and we’re making parts for the aerospace and medical industry that can’t be produced any other way.”
In return for the tax-free status, Incodema3D has pledged to invest more than $37 million dollars and create 58 new jobs over a span of 10 years, according to New York Gov. Cuomo’s office.
The Start-Up NY program will not only contribute to Incodema3D’s exponential growth, but also to the economic growth and success of Tompkins County. Whether they’re working directly in the sector or not, entrepreneurs, students, and local businesses will be keeping a very close eye on Incodema3D’s developments in the years to come.