This article describes how “START-UP NY” is a state-funded economic development program that encourages businesses to locate to several of its college campuses in exchange for a 0% tax rate for business and their employees. While the program has received much coverage in the popular press, it has not been thoroughly assessed in the academic literature. Using a simple post-Keynesian analysis, this article illustrates the fundamental flaws in the START-UP NY program. In doing so, this analysis demonstrates why the program was, and is, ineffective in generating job growth.