Empire State Development meetings

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Press Release

Wednesday, November 1, 2023 - 3:40pm
Second Phase of Dynamic Collaboration Will Address Health Care, Energy and Aviation Investment Complements “Southern Tier Soaring” - The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy Governor Kathy Hochul today announced that New York State is investing $20 million to support the next phase of the federally-sponsored NextFlex initiative, dedicated to developing flexible and additive hybrid electronics devices. The State is providing a second round of funding to the Research Foundation of the State University of New York, on behalf of Binghamton University – the New York Node of the NextFlex nationwide consortium. This program brings companies of all sizes together with universities to develop critical new technologies, supply chains and manufacturing infrastructure, and to train the skilled workforce needed to help Upstate New York grow its high technology manufacturing base. Empire State Development is providing the funding to support this forward-thinking initiative through the Southern Tier Soaring Upstate Revitalization Initiative. “New York State continues to lead the way in creating the jobs of the future, investing in industries from scientific research to software development,” Governor Hochul said. “Initiatives like NextFlex are spurring further development in growing sectors like these to create the high-tech jobs needed to support New York’s economy for future generations.” NextFlex Phase II will work to provide state-of-the art solutions for healthcare concerns, energy generation, and aviation. The total project cost has been placed at $45 million, supported by New York state’s $20 million investment, $20 million from the federal government, and $5 million in private investment from NextFlex members. In 2016, ESD invested $20 million in NextFlex Phase I, which supported the Department of Defense's launch of NextFlex. Phase I focused on the development of flexible and printed electronics in the U.S. Read the full press release here. 
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Press Release

Wednesday, November 1, 2023 - 3:38pm
Second Phase of Dynamic Collaboration Will Address Health Care, Energy and Aviation Investment Complements “Southern Tier Soaring” - The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy Governor Kathy Hochul today announced that New York State is investing $20 million to support the next phase of the federally-sponsored NextFlex initiative, dedicated to developing flexible and additive hybrid electronics devices. The State is providing a second round of funding to the Research Foundation of the State University of New York, on behalf of Binghamton University – the New York Node of the NextFlex nationwide consortium. This program brings companies of all sizes together with universities to develop critical new technologies, supply chains and manufacturing infrastructure, and to train the skilled workforce needed to help Upstate New York grow its high technology manufacturing base. Empire State Development is providing the funding to support this forward-thinking initiative through the Southern Tier Soaring Upstate Revitalization Initiative. “New York State continues to lead the way in creating the jobs of the future, investing in industries from scientific research to software development,” Governor Hochul said. “Initiatives like NextFlex are spurring further development in growing sectors like these to create the high-tech jobs needed to support New York’s economy for future generations.” NextFlex Phase II will work to provide state-of-the art solutions for healthcare concerns, energy generation, and aviation. The total project cost has been placed at $45 million, supported by New York state’s $20 million investment, $20 million from the federal government, and $5 million in private investment from NextFlex members. In 2016, ESD invested $20 million in NextFlex Phase I, which supported the Department of Defense's launch of NextFlex. Phase I focused on the development of flexible and printed electronics in the U.S. Read the full press release here. 
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Press Release

Wednesday, November 1, 2023 - 1:20pm
Committee Established to Advise the ConnectALL Office as it Deploys More Than $1B for Accessible, Equitable and Affordable Broadband Inaugural Meeting Held Virtually, Materials Can be Found Here Empire State Development (ESD) today announced the members of the State’s Broadband Deployment Advisory Committee to advise on broadband and digital equity planning and implementation statewide. Members include representatives from key state infrastructure agencies, private-sector telecommunications operators, organized labor and Tribal affairs. The inaugural virtual meeting of the committee was held on October 18. Empire State Development President, CEO and Commissioner Hope Knight said, “The Broadband Deployment Advisory Committee will help us ensure that New York has affordable, equitable and reliable broadband throughout the entire state, and I want to thank Governor Hochul for Appointing Josh Breitbart as Chair of this very important committee.” Committee members include: Chair - Joshua Breitbart, Empire State Development James Becker, MIDTEL (Governor‘s Appointee) Jackie Bray, Division of Homeland Security and Emergency Services Paul Cardettino, State Education Department Mary Harding, Department of Transportation Camille Joseph-Goldman, Charter Communications (Governor‘s Appointee) Moses Kamya, Office of General Services Becky Koepnick, Homes and Community Renewal Scott Melvin, Department of Labor Allyson Mitchell, Mohawk Networks (Governor‘s Appointee) Ali Mohammed, New York Power Authority Frank Muia, International Brotherhood of Electrical Workers (Governor‘s Appointee) Brian Ossias, Department of Public Service Patrick Ryan, Division of Budget Laurie Wheelock, Public Utility Law Project (Senate Appointee) In September, ConnectALL released the Five-Year Action Plan, which outlines the state’s goals and priorities for its $664 million allocation of federal Broadband Equity Access and Deployment (BEAD) funding. ConnectALL has also been deeply engaged with stakeholders across the state to gather input through digital equity coalitions in every region. Outreach and engagement efforts have included listening sessions in every region of the state; more than 40 focus groups including veterans, seniors, marginalized populations, and low-income households; virtual stakeholder forums; and digital equity task force town halls in partnership with the New York State Library, and a statewide public survey. The learnings and recommendations from this engagement will be included in the State Digital Equity Plan and the BEAD Initial Proposals, which will soon be released for public comment. Read the Five-Year Action Plan at broadband.ny.gov. The Department of Public Service published the 2023 Broadband Report in June. The Report can be found in Case 22-M-0313 on the Public Service Commission website, www.dps.ny.gov. About Empire State Development Empire State Development (ESD) is New York’s chief economic development agency (www.esd.ny.gov). The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing the Regional Economic Development Councils and the marketing of "I LOVE NY," the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, visit www.regionalcouncils.ny.gov and www.esd.ny.gov. Contact: Kristin Devoe | [email protected] | (518) 414-1087 ESD Press Office | [email protected] | (800) 260-7313
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Press Release

Wednesday, November 1, 2023 - 9:47am
Proposed Manufacturing Facility Will Produce High-Tech Printed Circuit Boards to Enhance National Security, Creating an Estimated 400 Good-Paying Jobs in Central New York – Just One Week After Region Landed Prestigious Federal Tech Hub Designation for Semiconductors TTM Selects New York State Following Extensive Yearlong Site Assessment and Selection Process Involving 16 Other States Builds on Governor Hochul and Majority Leader Schumer’s Continued Progress Toward Growing New York’s Semiconductor Ecosystem and Attracting 21st Century Businesses and Jobs Governor Kathy Hochul and Senate Majority Leader Charles Schumer today announced that TTM Technologies, Inc., a leading global manufacturer of technology solutions, intends to invest up to $130 million to build a greenfield high-tech manufacturing facility in the Town of DeWitt, Onondaga County, creating an estimated 400 good-paying jobs. TTM will produce ultra-high density interconnect PCBs, TTM’s most advanced PCBs that will be primarily used for U.S. military applications and crucial to the U.S. semiconductor industry, at its new facility, which will be co-located on 24 acres adjacent to TTM’s existing production facility in DeWitt. TTM’s new plant will be one of the first in the nation to specialize in manufacturing PCBs and advanced packaging. TTM will also invest in research and development that will further integrated-circuit substrate and HDI PCB technologies across the United States. “From Micron’s historic investment in Clay to TTM’s plans to invest up to $130 million for a new plant in DeWitt, a global chipmaking hub is rising in Central New York,” Governor Hochul said. “TTM’s printed circuit boards sit at the cutting edge of chip technology, and thanks to New York’s robust chips ecosystem, partnerships with the Majority Leader and other stakeholders, and a bold commitment from the state, TTM is ready to join our thriving chips sector and bring 400 good-paying jobs upstate. Companies like TTM are helping to strengthen New York’s reputation as a leader for growth, innovation, and national security, and I look forward to welcoming even more 21st century businesses to our state as we continue to build the economy of tomorrow.” Read the full press release here.
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Press Release

Monday, October 30, 2023 - 12:17pm
New Facility Will Triple Craft Beer Production, Encourage Year-Round Visitation Supports New York State’s Dynamic Craft Beverage Industry View Photos Here Empire State Development (ESD) today celebrated the grand opening of Common Roots Brewing Company’s new $3.6 million, 10,000 square foot expansion in South Glens Falls, Saratoga County. The Saratoga Avenue location includes a new barrel-aged beer production facility, increased storage capacity and a 200-person, four-season event space and beer garden. The expanded facility will not only serve as a destination for the region but will also create jobs and allow Common Roots to continue improve its production efficiencies and market share. "Common Roots Brewing Company has had a tremendous impact on the local economy and tourism in this area, quickly becoming a destination in Saratoga county," said Lieutenant Governor Antonio Delgado, who attended the ribbon cutting. "New York is proud to support this local business and proud to continue to invest in the Capital Region." Empire State Development President, CEO and Commissioner Hope Knight said, "Since planting their own roots in South Glens Falls ten years ago, Common Roots has grown and flourished to become a community pillar and a craft beer destination for residents and visitors alike. This expansion is a testament to the brewery's dedication and commitment to creating a world-class product that is enjoyed and appreciated throughout the northeast, fueling new interest and growth in the New York State's craft beverage industry." Common Roots Brewing Company Co-Founder and President Christian Weber said, "We are extremely grateful for this opportunity to expand our business and create more opportunities for growth right here in Upstate New York. The support that we received from Empire State Development and the Hochul administration has helped us achieve our dream to create and grow a sustainable business right here in the community we love." Common Roots has grown dramatically since its inception in 2013, expanding from three employees and 500 barrels in its first year, to more than employees and 10,000 barrels annually. A devastating 2019 fire destroyed the brewery's original facility, and a new state of the art brewery was designed and constructed on the site, and operational just 14 months after the fire. The new 30-barrel brewing system tripled the capacity of the original brewery and a new taproom includes a full-service restaurant. Common Roots has continued to grow, and the new taproom’s popularity surpassed expectations. The company has steadily increased its market share and presence in the Northeast and is now ranked among the top percentage of craft breweries in the country. Common Roots products are available in cans and on-tap in seven Northeastern states, plus a limited presence in Canada. This new expansion helps Common Roots continue to meet growing demand for its products and continue to be a destination for local residents and visitors to the region.  To support the expansion, Empire State Development awarded Common Roots a $250,000 capital grant, and up to $200,000 in Excelsior Jobs Program tax credits, recommended by the Capital Region Economic Development Council. Common Roots has committed to creating eight new full-time jobs and retaining its 26 existing full-time employees. CREDC Co-Chairs Ruth Mahoney, Executive Vice President, President of Wealth Management and Regional President at NBT Bank, and Dr. Havidán Rodríguez, University at Albany President, said, “We are proud to support the expansion of a local business that reflects and builds on New York State’s dynamic craft beverage industry. Common Roots is a great example of our investment in a company that will grow the local economy and also offer a taste of the Capital Region's signature strengths throughout the Northeast and beyond.” New York State Brewers Association Executive Director, Paul Leone said, “Thanks to a favorable legislative environment and continued support from the Governor's office, Common Roots is able to expand even more to meet the rising demand for their great beer. The brewing industry in strong in New York State, and this expansion is not only great for the craft beer lovers in the Saratoga region, but all over the state and beyond.” New York State is home to more than 535 breweries, a national leader according to the New York State Brewers Association. Its 2018 study reports that breweries in New York generate an economic impact of $5.4 billion and support more nearly 20,000 jobs, making the craft beverage industry a pillar of the state’s economy. New York also ranks in the top five in the U.S. for its number of craft beverage producers in every category. second in craft distillers and breweries, and fourth in the country for the total number of wineries.  Governor Kathy Hochul recently signed into law a package of legislation that will improve New York's laws related to alcoholic beverages in an effort to expand options for consumers and support New York's small businesses in the alcoholic beverage sector. Legislation S.5731/A.6941 allows for the sale of beer, mead, braggot and cider on any day of the week including Sundays. Legislation S.2854/A.7305 allows liquor and wine stores to expand their Sunday hours so that they may open at 10 a.m. and close at 10 p.m. Legislation S.6443/A.6134 extends the length of validity of a brewer’s license from one year to three years. Legislation S.3364A/A.2902 allows for businesses to prepare and keep drinks containing alcohol in pressurized dispensing machines. Legislation S.3567A/A.6050A allows retail stores to sell complementary gift and promotional items related to wine and spirit sales. Legislation S.6993A/A.7688 adds parcels of land to the list of premises which are exempt from the provisions of law which generally restrict manufacturers/wholesalers and retailers from sharing an interest in a liquor license. State Senator James Tedisco said, "Common Roots Brewing's opening is an exciting development for South Glens Falls and the Town of Moreau and will bring jobs and further economic expansion to the 44th Senate District. Thanks to the Governor and Empire State Development for their support on this initiative." Assembly Member Carrie Woerner said, "Common Roots is a leader in the craft beer industry and a true example of good corporate citizenship. This new expansion is an investment in the growth of Common Roots, but also a commitment by the Common Roots family, including Bert, Christian and Robin, to helping build the local community." Saratoga County Board of Supervisors Chair Theodore T. Kusnierz, Jr. said, "Saratoga County and the Town of Moreau proudly celebrate Common Roots Brewing Company’s expansion in South Glens Falls. Common Roots has been a Saratoga County staple since its taproom opened in 2014 and we are thankful they’ve chosen to rebuild here in our community after their devastating fire. Saratoga County is committed to promoting fiscally responsible policies that support strong economic growth countywide and Common Roots Brewing Company’s decision to rebuild and expand here is proof that we are open for business." South Glens Falls Mayor Nicholas Bodkin said, "Economic development is always a priority for small communities, and Common Roots has become a cornerstone of an expansive movement of tourism and commerce in the Village of South Glens Falls. Their continued success and growth is a testament to their commitment to realizing their vision of making our community a great place to enjoy lasting memories with friends and families from around the country. Empire State Development’s investment in our community is essential to help foster growth and prosperity in a small bedroom community, and I am hopeful to see further investments in our Village to continue to build upon the accomplishments that have already been made." About Empire State Development Empire State Development (ESD) is New York’s chief economic development agency (www.esd.ny.gov). The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing the Regional Economic Development Councils and the marketing of "I LOVE NY," the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, visit www.regionalcouncils.ny.gov and www.esd.ny.gov. Contact: Kristin Devoe | [email protected] | (518) 414-1087 ESD Press Office | [email protected] | (800) 260-7313
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Press Release

Thursday, October 26, 2023 - 1:56pm
$2 Million State Investment Supports Transformation of Former Factory Buildings Into Full-Service Hotel and Waterfront Event Space in Downtown Coxsackie Builds on Governor’s Investments to Support New York’s Tourism Industry Following Record-Breaking Visitation and Tourist Spending in 2022 Village of Coxsackie Recently Awarded $4.5 Million Through NY Forward Program to Accelerate the Revitalization of New York’s Downtowns Hotel Photos Available Here Governor Kathy Hochul today announced the grand opening of the James Newbury Hotel and The Wire event center in Coxsackie, Greene County. The nearly $11 million redevelopment project transforms two former factory buildings into a 47-room boutique hotel and a 15,000-square foot event space with a waterfront bar and multiple community rooms, building on the Governor’s commitment to support New York’s thriving tourism and hospitality industry. "The grand opening of the James Newbury Hotel and the equally impressive event center, The Wire, serves as a reminder to visitors from across New York and all over the world: Downtown Coxsackie is open for business," Governor Hochul said. “For two decades, the former foundry at J.G. Newbury Ironworks has been ripe with opportunity to drive the local economy, and thanks to state support, this historic site will help Greene County welcome countless new visitors to our state. Tourism is vital to New York State, and my administration remains committed to investing in the businesses, the attractions, and the workers that keep the industry moving.” The James Newbury Hotel offers 47 rooms decorated to reflect its roots in the Hudson River Valley. Hotel amenities include a lobby bar and restaurant, an outdoor patio, and extensive lawns stretching to the banks of the river. A meeting room and a two-story library complete the ground floor. The Day Line Oyster Bar + Kitchen, the fifth-floor rooftop restaurant, will open in early November and offer indoor and outdoor dining with unique and picturesque panoramic views. The Wire – a 15,000 square-foot event space – sits on a neighboring site with multiple rooms, including a large ballroom and a waterfront atrium. The venue caters to large events, like weddings, business meetings, conferences and trade shows, plus local events for the Hudson Valley & Capital Region communities. The hotel and event center pay homage to industrial roots of the site and the region. Originally built in the early 20th century, the buildings were part of a foundry for J. G. Newbury Ironworks. Later, they became part of State Wire and Cable. Prior to this adaptive reuse project, the buildings were vacant for at least 20 years. The project was supported by $2 million in grants from Empire State Development, recommended by the Capital Region Economic Development Council. Empire State Development President, CEO and Commissioner Hope Knight said, "The Hudson River is one of New York State's most beautiful assets and we are pleased to support the new James Newbury Hotel located on its banks. This new venue will help reinvigorate Coxsackie's waterfront area by creating a venue that supports local jobs, attracts residents and visitors from across the globe, and will grow the local economy." Read the full press release here.
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Report

Wednesday, October 25, 2023 - 4:14pm
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Press Release

Wednesday, October 25, 2023 - 1:36pm
Forum Celebrates 35 Years of Empowering MWBEs in New York State Event's Theme — "Championing Our MWBEs" — Focuses on Building on a Legacy of Equity and Excellence in New York State Annual Forum Helps MWBEs Tap into New York State Resources Register for the November 14 Event Here Traducción al español Governor Kathy Hochul today announced that the thirteenth annual Minority- and Women-Owned Business Enterprise Forum will be held on Tuesday, November 14 at the Albany Capital Center. This year’s Forum celebrates 35 years of the MWBE program in New York State with the theme of "Championing Our MWBEs: Building on a Legacy of Equity and Excellence in New York State." Through networking opportunities, partnership-building, and a wealth of industry insights, this year's dynamic one-day event will equip MWBEs with the essential tools to grow and prosper in today's business landscape. Learn more about the forum and register here. “New York’s trailblazing MWBE program is continuing to break down barriers and unlock opportunity for thousands of MWBEs in our state," Governor Hochul said. "For 13 years, our annual MWBE forum has served as an important gathering place to connect New York businesses with essential resources and services, and I encourage business owners from all over our state to join us for this year’s forum.” The 2023 Forum will offer attendees a wealth of opportunities to network, learn, and build partnerships to grow their enterprises. Networking in the exhibit hall facilitates relationship-building between certified MWBEs, New York State agencies, prime contractors, and private companies. Insightful sessions will provide strategies and best practices across critical topics like successfully bidding on contracts, engaging as a small business in mega projects, accessing capital and grants, and delivering on state contracts post-award. In celebration of the 35th anniversary of New York's pioneering MWBE program, the Forum will also feature the MWBE Champions Awards Luncheon to honor certified MWBEs, government partners, and advocates who have demonstrated remarkable commitments and achievements in advancing diversity in New York State’s economy. Chief Diversity Officer Julissa Gutierrez said, "Under Governor Hochul's leadership, New York State continues to foster opportunity, spur economic growth and embrace the diversity that makes us strong. As we mark 35 years of the MWBE program, our mission endures - to support minority- and women-owned businesses in reaching new heights. The annual MWBE Forum builds pathways to prosperity by linking our talented, driven MWBEs with invaluable state resources and contracts. This event will help diverse businesses owners across New York prosper, thrive and become pillars of our economy and communities." The 2023 Forum also marks a historic milestone - the 35th anniversary of New York State's pioneering Minority- and Women-Owned Business Enterprises program. Established in 1988, the MWBE program has served as a national model for expanding economic opportunity and supporting the growth of diverse businesses. Over the past three and a half decades, New York State has empowered MWBEs with skills, resources, and connections to help them succeed. The result has been billions of dollars in contracting opportunities for certified MWBEs and countless workforce and community benefits. Empire State Development President, CEO and Commissioner Hope Knight said, "New York State's pioneering MWBE program marks a historic 35-year legacy of empowering minority- and women-owned enterprises as drivers of economic growth and engines of opportunity. As we celebrate this milestone anniversary, the Forum will equip diverse businesses with insights to pursue state contracts and resources for their growth and development. New York State will continue leading the charge to break down barriers and cultivate an equitable economy where MWBEs can realize their full potential." Division of Minority-and Women-Owned Business Enterprise Development Executive Director Jason Myles Clark said, "This year marks a true milestone as we celebrate 35 years of New York State's nation-leading MWBE program. Over the past three decades, we have made tremendous strides in providing more economic opportunities for MWBE businesses across New York State. As we open registration for the 2023 MWBE Forum, we renew our commitment to driving growth, innovation, and prosperity for diverse enterprises for the next 35 years and beyond." Read the full press release here.
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Press Release

Tuesday, October 24, 2023 - 10:51am
Round Three Winner of Luminate NY Optics, Photonics, and Imaging Competition Officially Opens New Solar Power Photonic Smart Coating Research and Development Facility at Sibley Square NYS Investment in SunDensity Complements “Finger Lakes Forward” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy Photos of SunDensity’s New Facility Available Here. Empire State Development (ESD) today announced that SunDensity has officially opened the doors on its state-of-the-art research and development facility located at the Sibley Square Building in Downtown Rochester. SunDensity, which originated from MIT, committed to locating its operations in Rochester after being named “Company of the Year” during the third round of Luminate NY in 2020. Luminate NY is the world's largest business accelerator for startup firms that have optics, photonics and imaging (OPI) enabled technologies.  As the winner, the company received a $1 million in investment from the state through the Finger Lakes Forward Upstate Revitalization Initiative. SunDensity is also eligible for up to $600,000 through the performance-based Excelsior Jobs Tax-Credit program in exchange for the creation of up to 56 new jobs.  To date, the company has 15 employees working on-site. Empire State Development President, CEO and Commissioner Hope Knight, said, "SunDensity’s decision to locate its operations in Rochester proves the success of the state-supported Luminate NY competition: our focused, strategic investments in these emerging companies are working to cement New York as a worldwide leader in optics, photonics, and imaging, and I look forward to the company’s further contribution to the growth of the OPI industry in the Finger Lakes region.” SunDensity’s Photonic Smart Coatings for utility, commercial and residential solar panels can considerably improve solar power output and provide more accessible green energy solutions at a lower overall cost.  Its nano-optical coating also reduces costs and improves the performance of Low Emissivity (‘Low E’) window glass to efficiently control unfavorable effects such as ‘heat gain’ in homes and buildings that demand increased energy for environmental control. The number of solar power plants in the United States is growing at a rate of 30% per year, but much of the available solar spectrum is wasted by solar cells. SunDensity’s Photonic Smart Coating improves the efficiency of opto-electronic devices such as solar cells by shaping the spectrum of photons, transforming available energy into more usable light, targeting the ideal sensitivity for many different types of devices. “This is a big step forward for us,” said Dr. Nish Sonwalkar, Founder, President and CTO of SunDensity. “Developing our technology here signifies our commitment to providing solar solutions in the U.S., to be competitive with Chinese products that currently dominate the market.”  Luminate NY Managing Director Dr. Sujatha Ramanujan, said, “By opening their facility in the same place where they incubated—in the heart of Rochester’s Innovation Zone—SunDensity is helping to revitalize our city and to expand economic development opportunities within our rich OPI and entrepreneur ecosystems.”  The Luminate NY accelerator, administered by NextCorps, is based in Rochester and selects 10 to 12 promising companies each year to participate in its hybrid, six-month program. During this time, companies are provided with more than 200 hours of instruction, along with the resources to advance their technologies and businesses. Applications are now being accepted for Round 7 through January 8, 2024. Teams will receive $100,000 in funding upon program start in April 2024, with the expectation that $50,000 will be used to engage resources in the Finger Lakes region. Teams are expected to come to Rochester for select weeks and to also participate virtually during their time in the accelerator. All told, since its inception, Luminate NY has invested $18 million in 63 startups. The companies in the portfolio now share a net worth of more than $650 million. In addition to providing an estimated 1.5 to 2 times return on investment, many of the companies are establishing U.S. operations or some aspect of research and manufacturing in the Rochester region, which has resulted in 164 jobs. The Finger Lakes Region is home to an incredibly rich ecosystem of forward-thinking entrepreneurs who are looking to grow their business. Rochester offers the American Institute for Manufacturing Integrated Photonics' Test, Assembly, and Packaging facility at Eastman Business Park, the University of Rochester's Institute of Optics, the Rochester Institute of Technology, and more than 150 local OPI companies which employ over 17,000 employees. State Senator Jeremy Cooney, said, “I am proud to see SunDensity completing their journey from incubation to grand opening right here in the heart of Downtown Rochester. They are helping us to write the next chapter in our region’s rich history of innovation, while creating jobs for our community. I am grateful to them for not just choosing Rochester, but for continuing to invest and expand here.” State Assemblymember Harry Bronson, said, "SunDensity’s decision to move to Rochester demonstrates that we have the skilled workforce they require to scale their operations. It also reinforces why the Luminate NY competition is key to attracting diverse, cutting-edge industries to our area, which will go far to further our goal of improving equity in our economic and workforce development initiatives. Thank you SunDenisity for choosing Rochester!” Monroe County Executive Adam Bello, said, “SunDensity’s expansion is a shining example of Monroe County’s position as a clean energy technology hub and our commitment to investing in economic development. Monroe County congratulates SunDensity on this impressive new facility and is grateful for Governor Hochul, Empire State Development and Luminate NY’s support to help innovative companies like SunDensity grow in our community.” City of Rochester Mayor Malik Evans, said, “The grand opening of SunDensity in Rochester’s Center City clearly demonstrates the benefit of Empire State Development’s decision to establish the Luminate NY high-tech business incubator in our Downtown Innovation Zone and position our region as the optics, photonics and imaging capital of the world. I want to thank Dr. Sonwalker and his team for making this investment in our city and wish them and their employees well as they grow and thrive here. I remain grateful to Governor Hochul and the work of Empire State Development through Finger Lakes Forward for supporting our efforts to create a safe, equitable and prosperous Rochester by inspiring hope and delivering opportunity for everyone.” For additional information about SunDensity, visit: https://www.sundensity.net/. For additional information about Luminate NY, visit: luminate.org. Contact: Shari Voorhees-Vincent | [email protected] | (585) 399-7055 Press Office | [email protected] | (800) 260-7313  
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Press Release

Monday, October 23, 2023 - 5:30pm
River Street Project Will Create 72 Mixed-Income Apartments and 123-Unit Senior Housing Facility Commercial Tenants Include Affordable “Bargain Grocery” Store That Will Help to Combat Local Food Insecurity Builds on $10 Million Investment to Create a Vibrant Commercial District in Troy Through Downtown Revitalization Initiative Governor Kathy Hochul today announced the groundbreaking for Flanigan Square, a $65 million mixed-use development on River Street in Troy, Rensselaer County. Developed by First Columbia, the project spans three buildings and will include more than 200 units of housing, including low-income and senior housing, an affordable grocery store, and more than 40,000 square feet of commercial space. and. Located within Troy's Downtown Revitalization Initiative district, the transformational project will help to address local challenges like housing and food insecurity in one of the Capital Region's most economically distressed census tracts and create a destination along the waterfront that will fuel regional growth and development. “With hundreds of units of housing, a brand-new, affordable grocery store, and improvements to the public realm in the City of Troy, Flanigan Square represents exactly the kinds of projects we need to breathe life into our downtowns,” Governor Hochul said. “Through investments in developments like this one, my administration is helping to increase the housing supply, address longstanding issues like food insecurity, and creating vibrant, dynamic neighborhoods all over New York State that will help drive the regional economy forward.” The Flanigan Square transformation includes three locations - 547, 549 and 558 River Street - in Downtown Troy. At 547 River Street, the project includes a 68,000 square-foot conversion of office space into 72 residential units – more than half of which will be designated low-income units. Additional interior and exterior renovations will create more than 40,000 square feet of commercial space, with plans for an exterior glass-enclosed rock-climbing wall and gym. Additional site work includes walking paths, electric vehicle charging stations, and improved parking. Next door at 549 River Street, First Columbia is planning to build a senior housing facility with 123 units. Across the street at 558 River Street, First Columbia will renovate nearly 20,000 square feet of commercial space to include a first-floor grocery store and a second-floor meal preparation space. Bargain Grocery, which first opened in 2002 in Utica, plans to occupy the space and works to combat food waste and food insecurity. The store partners with national and local vendors to buy food that was overproduced, and receives donated products from companies, then sells this product at a low price. Profits generated by the store fund the non-profit Compassion Coalition to support people in need. Bargain Grocery offers quality, healthy food at affordable costs to an area of food insecurity while also working to combat food waste and provides discreet financial assistance to those in need. Read the full press release here.
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