NYCEDC - NYC Business Climate - Success Stories

Success Stories

EMERGING TECHNOLOGY

MOTIONBOX INC.


	There is no place in the world where media and technology come together like New York City. For a young growing business like Motionbox, this means unparalleled access to the talent, partners and resources we need to grow. And the QETC (Qualified Emerging Technology Company) Tax Credit Program makes a big difference in our ability to invest, and compete, in New York City.
	Chris O’Brien, CEO and Co-founder

1 of 1

BUSINESS NEED

Motionbox Inc., the creator of a web-based video sharing and editing platform was founded in New York City in 2005. Similar to many New York City based emerging technology companies, Motionbox Inc. believed its future success would be linked to its ready access to all of the major media and entertainment companies as well as an ability to tap into the vast pool of financial and professional resources that New York City offers.

SOLUTION

As a startup technology company based in New York City, Motionbox Inc. was eligible for the Qualified Emerging Technology Company (QETC) Tax Credit Program. QETC provides technology companies with refundable tax credits for investment in workforce development and training, facility upgrades and research and development. The refundable tax credit, up to $1 million, is available for four years to companies based in, and conducting R&D, in New York. QETC benefits also allow the company’s investors to receive a similar credit, giving them one more reason to invest in Motionbox.

RELATED LINKS

Incentive Finder
Use this simple tool to discover which NYC incentives may be applicable to your business.

The Five Boroughs
Get highlights about what NYCEDC is doing in each borough.

PUBLICATIONS

NYCVISION
View this newsletter outlining NYC economic development initiatives.

Economic Snapshot
Read our newsletter highlighting NYC employment, consumer spending, real estate and more.