Empire State Development meetings

Governor Andrew M. Cuomo today announced that applications are now being accepted for the fifth year of 43North, the $5 million startup competition that attracts world-class entrepreneurs to grow their companies in Buffalo, NY. The competition is part of Governor Cuomo's visionary Buffalo Billion initiative. Over the first four years of the competition, 43North has crowned 37 winning startups from across North America and as far away as Taiwan and Israel. Those companies have raised more than $80 million since becoming winners. "43North has attracted high quality startups, bringing world-class talent to grow in Buffalo," Governor Cuomo said. "Through this competition, we will continue to bring cutting edge, innovative businesses to this region to help the local economy continue to thrive." 43North's 2018 award structure will be as follows: One $1 million grand prize; Six $500,000 runner-up prizes; and $1 million in follow-on funding, which will be divided into investments for multiple 2018 winners at the end of 2019. 43North winners also receive free space in 43North's incubator, participation in an expanded mentorship program, marketing exposure and access to the START-UP NY program, which enables companies to operate free of New York State taxes for up to 10 years. Read the full press release here.

Investment in State-of-the Art Company Complements “Finger Lakes Forward” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy Empire State Development (ESD) today announced that Innovative Solutions in Monroe County will expand, moving its operations to a new location in the Town of Henrietta. The software development company will relocate to a 19,000 square-foot facility on East River Road, repurposing the old Kodak campus. The new space will feature an innovative lab and a tech startup “launch-pad” that will aid the company in supporting up to 12 technology focused start-ups and recruiting recent graduates from local universities in the Finger Lakes Region.  The project will create up to 15 new jobs; close to 70 jobs will be retained. Supporting the growth of innovative businesses is an integral part of the regionally designed Finger Lakes Forward economic development plan. Empire State Development President, CEO & Commissioner Howard Zemsky said, “Successful, growing companies like Innovation Solutions reinforce the Finger Lakes Region’s reputation as a national leader for high-tech innovation. This expansion will generate new, high-quality job opportunities, building on the region’s momentum and driving the economy forward." Founded in 1989, Innovative Solutions brings together forward-thinkers and problem-solvers, teaming up strategists, engineers, developers, and designers. They collaborate on innovative technology solutions for small-to-midsize businesses around Upstate NY in areas including:          IT Consulting          Application & Database Services          Business Continuity          Consumption-Based IT Services          Data Storage & Archiving          Information Security Services          IT Services          Virtualization & Cloud Services Innovative Solutions CEO Justin Copie, “Our employees chose this location to be our new home because Riverwood felt right. We have beautiful hiking trails, paddleboards at the dock to enjoy on the river, a cutting-edge innovation lab to explore and try new things, and an incredible ecosystem of other tech-minded professionals to collaborate with! What more could anyone ask for? We are incredibly grateful for the opportunity to change the face of the work place right here in Rochester.” To facilitate Innovative Solutions growth, Empire State Development has offered up to $500,000 through the Excelsior Tax Credit program in exchange for job creation commitments.  The total project cost is little more than $2.1 million.  The project, which is already underway, is expected to be completed this fall. Innovative Solutions has been recognized for its exceptional culture by being named one of Upstate NY’s Top Work Places, nationally, a Great Place to Work, Rochester’s Best IT Outsourcing Firm, Rochester’s Best Software Developer, Rochester’s Best Web Design Firm, and one of the top companies in Best Company to Work for (50-149 Employees). State Assembly Majority Leader Joe Morelle said, “By investing in exciting, fast-growing companies like Innovative Solutions we are laying a strong foundation on which we will continue to build our regions hi-tech economy and expand access to good-paying, 21st-century jobs. My thanks to Governor Cuomo for his continued commitment to the Finger Lakes economy and to Innovative Solutions for choosing to grow and thrive in our community.” State Senator Patrick Gallivan said, “This is an exciting project for Henrietta and Monroe County that builds on the region’s history in innovation and technology.  Not only is Innovative Solutions retaining dozens of existing jobs, it is creating new opportunities for residents who want to live and work in the Finger Lakes Region.  By supporting successful companies such as this, New York can help ensure continued economic growth and community development."  State Assembly Member Harry Bronson said, “Innovative Solution’s expansion is great news for Henrietta, for our families, and for our region’s economic future. This expansion continues to build on the momentum of Rochester’s high-tech resurgence, and I applaud Innovative Solutions dedication to supporting local tech startup companies and providing the job opportunities our families need to thrive.” Henrietta Town Supervisor Stephen Schultz said, “I have always been frustrated that the creative students and faculty at RIT build great high-tech businesses and then often locate elsewhere. One of my goals as Town Supervisor is to encourage and assist the development of Henrietta office parks, especially high-tech office parks, to serve these needs. Fred Rainaldi’s Riverwood Campus is a perfect example of the modern tech park and Innovative Solutions is a perfect example of a growing high-tech business built by RIT alumni. The combination of the two is a great benefit to the Town and I am very excited to see it move forward.” For additional information on Innovative Solutions, click here. Accelerating Finger Lakes Forward  Today’s announcement complements “Finger Lakes Forward,” the region’s comprehensive blueprint to generate robust economic growth and community development. The State has already invested more than $5.2 billion in the region since 2012 to lay the groundwork for the plan – investing in key industries including photonics, agriculture‎ and food production, and advanced manufacturing. Today, unemployment is down to the lowest levels since before the Great Recession; personal and corporate income taxes are down; and businesses are choosing places like Rochester, Batavia and Canandaigua as a destination to grow and invest in. Now, the region is accelerating Finger Lakes Forward with a $500 million State investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015. The State’s $500 million investment will incentivize private business to invest well over $2.5 billion – and the region’s plan, as submitted, projects up to 8,200 new jobs. More information is available here. ​       Contact: Shari Voorhees-Vincent | Shari.Voorhees-Vincent@esd.ny.gov | (585) 399-7055 Press Office | pressoffice@esd.ny.gov | (800) 260-7313