Objective

The Empire State Economic Development Fund (EDF) offers financial assistance for projects that promote New York State’s economic health by facilitating job creation and/or retention, or increased business activity in the state.

Overview

The Empire State Economic Development Fund is flexible, providing a range of assistance to ensure that the state is meeting the diversity of business needs.

EDF funds assist with:

• Construction, expansion and rehabilitation of facilities
• Acquisition of machinery and equipment
• Working capital
• Training full-time, permanent employees

Funds can be used for:

• Real estate and land acquisition
• Demolition
• Construction and renovations
• Site and infrastructure
• Machinery and equipment
• Inventory
• Construction-related planning and design
• Training
• Soft costs
• Feasibility planning studies

Eligibility

Eligible projects:

• Businesses involved in industrial, manufacturing, warehousing and distribution
• Research and development, high technology, service and other non-retail commercial enterprises
• Not-for-profits
• Local development corporations and industrial development agencies
• Municipalities

Ineligible projects:

• Residential
• Casino or gambling institutions
• Legal
• Medical
• Nursing services
• Retail firms

How to Apply

1. Contact your local ESD Regional Office.
2. ESD and applicant agree to an incentive proposal that outlines the terms.
3. ESD staff reviews the terms.
4. Satisfactory applications are presented to the ESD directors for consideration.