2014 Economic Transformation Program
The 2014–15 state budget enacted the Economic Transformation Program 2014 (ETP) and gave the Empire State Development Corporation (ESD) responsibility for implementing a $32 million program for the purpose of promoting economic development initiatives in communities affected by the July 2014 closure of the four state facilities listed below.
$8 million in program funding will be available to help leverage private-sector investments to create jobs and support initiatives that will help transform the economies within each of the four Economic Transformation Areas:
- Butler Correctional Facility, Towns of Butler and Wolcott, Wayne County
- Chateaugay Correctional Facility, Town of Chateaugay, Franklin County
- Monterey Shock Incarceration Correctional Facility, Town of Orange, Schuyler County
- Mount McGregor Correctional Facility, Towns of Wilton and Moreau, Saratoga County
Eligible applicants include businesses, municipalities, IDAs and other economic development organizations. The project has to be within an Economic Transformation Area (maps linked below). Businesses operating predominantly as retail, real estate development and professional service businesses will be excluded unless an applicant will be located at the site of a closed facility pursuant to an adaptive reuse plan, provided, however, a tourism destination project may be considered for funding.
Economic Transformation funds assist with construction, expansion and rehabilitation of facilities; acquisition of machinery and equipment; working capital; and the training of full-time permanent employees.
Funds may be used for:
- Real estate and and acquisition
- Construction and renovations
- Site and infrastructure
- Machinery and equipment
- Construction-related planning and design