Empire State Development Blog

Find the latest news on economic development in New York State

We feature stories of innovative businesses that are making New York their home, plus offer updates on economic activity and development from around the state.

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Public Notice

Friday, February 10, 2023 - 2:00pm
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Public Notice

Thursday, February 2, 2023 - 5:00pm
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Press Release

Thursday, January 26, 2023 - 4:17pm
Company Will Create 500 Jobs Through a 5-year $68 Million Investment Plan in the Mid-Hudson Region and Build Environmentally and Economically Friendly Zinc-air Long Duration Energy Storage Systems Anchor Tenant in the New $100 Million iPark 87 Business Park Will Transform the Three-Decades-Vacant IBM Site into an Economic Growth Engine Expansion in New York Complements Governor Hochul's Bold Environmental Agenda for Reducing Greenhouse Gas Emissions and Combating Climate Change Governor Kathy Hochul today announced Zinc8 Energy Solutions, USA, a leader in the long-duration energy storage industry, will relocate its $68 million manufacturing facility and U.S. headquarters to Kingston, Ulster County at the former Tech City, IBM Ulster campus, now known as iPark 87 business park. Zinc8 Energy Solutions develops innovative battery technology that uses zinc and air as fuel. Zinc8 has committed to creating up to 500 jobs, complementing New York State's national leadership in growing the green economy, spearheading efforts to reduce greenhouse gas emissions, and prioritization of combating climate change. The company's location to Ulster County supports Governor Hochul's newly announced framework for the State to achieve a nation-leading six gigawatts of energy storage by 2030. "Creating good jobs that will lead to a greener, more sustainable New York for our children and grandchildren is not only beneficial to our economy, it's the right thing to do for our planet," Governor Hochul said. "Zinc8's cutting edge, clean energy storage technology is another tool that will allow us to achieve our bold climate agenda and continue to make New York State a leader in advancing the green economy." Zinc8 Energy Solutions (Zinc8) has submitted a Letter of Intent to be the anchor tenant and lease approximately 237,000 square feet of warehouse and outdoor space at iPark 87, which is owned by National Resources. Zinc8 will invest approximately $68 million over 5 years to automate and build out the site, making the region Zinc8's U.S. headquarters and a major hub of manufacturing operations, research and development. Empire State Development (ESD) has agreed to provide up to $9 million in performance-based Excelsior Jobs Program tax credits to encourage and support the creation of 500 jobs. The new $100 million iPark 87 business park will serve as a mixed-use technology campus, transforming the former IBM site and positioning the former TechCity as an innovative center for economic growth after 30 years of stagnation. Part of iPark87's plan is to build a 600-unit net-zero carbon footprint sustainable residential community, powered 100 percent by renewal energy and constructed fully from sustainable building materials. The business park will also include several public amenities like pocket parks, bike and walking trails, and a wellness and arts center. Recognizing the goals of job creation, economic growth and sustainability for the campus and the surrounding region, ESD supported the business park's development with an $8 million grant through the Upstate Revitalization Initiative. Read the full press release here.  
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Board Meeting

Thursday, January 26, 2023 - 11:00am
With videoconferencing to: Empire State Development, 633 Third Avenue, 36th Floor Conference Room, New York, NY 10017 This meeting is open to the public. Webcasting of the meeting is available by clicking the link below. Due to building procedures, those wishing to attend at any of these locations must RSVP by 5:00 p.m. on Tuesday, January 24, 2023. RSVP press line (800) 260 -7313; RSVP public line (212) 803- 3772. Members of the public may submit comments on the Agenda items in writing to [email protected] by 4:30 p.m. on Tuesday, January 24, 2023. All comments received by the deadline will be distributed to the Directors prior to the meeting and posted online.
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Press Release

Tuesday, January 24, 2023 - 12:52pm
City of Long Beach and Village of Lindenhurst to Receive $4.5 Million Each New $100 Million NY Forward Program Builds on Momentum of the Successful Downtown Revitalization Initiative to Support a More Equitable Downtown Recovery for New York's Smaller and Rural Communities Governor Kathy Hochul today announced that the City of Long Beach and the Village of Lindenhurst will each receive $4.5 million in funding as the Long Island region winners of the first round of NY Forward. Building on the momentum of the State's successful Downtown Revitalization Initiative, the $100 million NY Forward program adopts the same "Plan-then-Act" strategy as the DRI to support a more equitable downtown recovery for New York's smaller and rural communities. As part of NY Forward Round One, two to three awards will be made to smaller communities in each of the State's ten economic development regions to support development and implementation of a revitalization plan for their downtowns. "Our downtowns create a vital economic lifeline for so many of our smaller communities to thrive, flourish, and reach their full potential," Governor Hochul said. "As we continue to assist New York businesses recover from the pandemic, we are executing an equitable plan with NY Forward to uplift our business districts utilizing the successful blueprint of our Downtown Revitalization Initiative." NY Forward is a central component of the State's economic development efforts, working together with DRI to accelerate and expand the revitalization of New York's downtowns. NY Forward serves smaller communities with historic character that distinguishes them from the larger, more urban central business districts typically funded through DRI. NY Forward communities are walkable, less dense areas that serve the immediate local community, and are more local in nature - focusing on the immediately surrounding residential or rural agricultural centric development. Like DRI, each NY Forward community will develop a Strategic Investment Plan to revitalize its downtown through a slate of readily implementable projects. The Department of State will provide enhanced technical assistance to better support smaller communities that may have less capacity as part of the NY Forward program and fund projects appropriately scaled to the size of each community. Projects may include building renovation and redevelopment, new construction or creation of new or improved public spaces and other projects that elevate specific cultural, historical qualities that enhance the feeling of small-town charm. Read the full press release here.
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Press Release

Tuesday, January 24, 2023 - 12:47pm
Downtown Revitalization Investments are a Critical Part of the State's Comprehensive Economic Development and Community Growth Strategy State to Work with Residents, Community Leaders and Public Officials to Revitalize Huntington Station's Downtown Governor Kathy Hochul today announced that Huntington Station will receive $10 million in funding as the Long Island winner of the sixth round of the Downtown Revitalization Initiative. For Downtown Revitalization Initiative Round 6, each of the State's 10 economic development regions are being awarded $10 million, to make for a total state commitment of $100 million in funding and investments to help communities boost their economies by transforming downtowns into vibrant neighborhoods. "The Huntington Station community deserves a safe, walkable, and affordable downtown where residents can thrive," Governor Hochul said. "This strategic investment will revitalize the community, and I can't wait to get shovels in the ground to transform Huntington Station into a must-see destination for tourists and local visitors alike." The Downtown Revitalization Initiative (DRI) serves as a component of the State's economic development policy by transforming downtown neighborhoods into vibrant centers of activity that offer a high quality of life and attract businesses, jobs and economic and housing diversity. Like past DRI rounds, each selected community will develop a strategic plan through a bottom-up, community-based planning process that articulates a vision for the revitalization of its downtown and identifies a list of signature projects that have transformative potential and leverage further private and public investments. The Department of State will then award DRI funds to selected projects with the greatest potential to jumpstart revitalization and realize the community's vision. Read the full press release here.
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Board Meeting

Monday, January 23, 2023 - 2:00pm
With videoconferencing to: Empire State Development, 633 Third Avenue – 36th Floor Conference Room, New York, New York 10017 This meeting is open to the public. Please Note: Those attending at either location must RSVP by 9:00 a.m. on Monday, January 23, 2023. RSVP press line (800) 260-7313; RSVP Buffalo press line (716) 846-8239; RSVP public line (212) 803-3772 The public may listen to the meeting via webcast by clicking the link below. Members of the public may submit comments on the Agenda item in writing to [email protected] by 9:00 am on Monday, January 23, 2022. All comments received by the deadline will be distributed to the Directors prior to the meeting and will be posted online.
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Press Release

Monday, January 23, 2023 - 1:59pm
Village of Cape Vincent to Receive $4.5 Million; Villages of Lyons Falls & Waddington to Receive $2.25 Million Each New $100 Million NY Forward Program Builds on Momentum of the Successful Downtown Revitalization Initiative to Support a More Equitable Downtown Recovery for New York's Smaller and Rural Communities Governor Kathy Hochul today announced that the Village of Cape Vincent will receive $4.5 million and the Villages of Lyons Falls and Waddington will each receive $2.25 million in funding as the North Country region winners of the first round of NY Forward. Building on the momentum of the State's successful Downtown Revitalization Initiative, the $100 million NY Forward program adopts the same "Plan-then-Act" strategy as the DRI to support a more equitable downtown recovery for New York's smaller and rural communities. As part of NY Forward Round One, two to three awards will be made to smaller communities in each of the state's ten economic development regions to support development and implementation of revitalization plans for their downtowns. "My administration is committed to making sure all of New York's communities thrive, and strategic investments like this will help smaller and rural communities reach their full potential," Governor Hochul said. "We are thrilled to see these funds go towards Cape Vincent, Lyons Falls and Waddington, and look forward to getting projects underway that will strengthen their downtowns." NY Forward is a central component of the State's economic development efforts, working together with the Downtown Revitalization Initiative (DRI), to accelerate and expand the revitalization of New York's downtowns. NY Forward serves smaller communities with historic character that distinguishes them from the larger, more urban central business districts typically funded through DRI. NY Forward communities are walkable, less dense areas that serve the immediate local community, and are more local in nature - focusing on the immediately surrounding residential or rural agricultural centric development. Read the full press release here.
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Press Release

Monday, January 23, 2023 - 1:34pm
Downtown Revitalization Investments are a Critical Part of the State's Comprehensive Economic Development and Community Growth Strategy State to Work with Residents, Community Leaders and Public Officials to Revitalize Ticonderoga's Downtown Governor Kathy Hochul today announced that the Town of Ticonderoga will receive $10 million in funding as the North Country winner of the sixth round of the Downtown Revitalization Initiative. For Round 6 of the Downtown Revitalization Initiative, each of the state's 10 economic development regions are being awarded $10 million, to make for a total state commitment of $100 million in funding and investments to help communities boost their economies by transforming downtowns into vibrant neighborhoods. "Our Downtown Revitalization Initiative is key to transforming towns across the state into sustainable, affordable, and walkable communities where residents and visitors alike can thrive," Governor Hochul said. "The infusion of $10 million into Ticonderoga will enhance its natural beauty, revitalize local businesses, highlight its rich history, and ensure it is a community resilient to the challenges the future holds." The Downtown Revitalization Initiative (DRI) serves as a component of the State's economic development policy by transforming downtown neighborhoods into vibrant centers of activity that offer a high quality of life and attract businesses, jobs and economic and housing diversity. Like past DRI rounds, each selected community will develop a strategic plan through a bottom-up, community-based planning process that articulates a vision for the revitalization of its downtown and identies a list of signature projects that have transformative potential and leverage further private and public investments. The Department of State will then award DRI funds to selected projects with the greatest potential to jumpstart revitalization and realize the community's vision. Read the full press release here.
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Press Release

Monday, January 23, 2023 - 12:48pm
Village of Lancaster and Village of Wellsville to Receive $4.5 Million Each New $100 Million NY Forward Program Builds on Momentum of the Successful Downtown Revitalization Initiative to Support a More Equitable Downtown Recovery for New York's Smaller and Rural Communities Governor Kathy Hochul today announced that the Village of Lancaster and the Village of Wellsville will each receive $4.5 million in funding as the Western New York region winners of the first round of NY Forward. Building on the momentum of the state's successful Downtown Revitalization Initiative, the $100 million NY Forward program adopts the same "Plan-then-Act" strategy as the Downtown Revitalization Initiative to support a more equitable downtown recovery for New York's smaller and rural communities. As part of NY Forward Round One, two to three awards will be granted to smaller communities in each of the state's 10 economic development regions to support the development and implementation of a downtown revitalization plan.   "New York's downtowns are the lifeblood of our state, and my administration is committed to ensuring communities in every region have the resources they need to thrive," Governor Hochul said. "Through NY Forward, we're building on the continued success of our Downtown Revitalization Initiative to provide crucial support to New York's smaller and rural communities. I'm proud to announce this funding today for Lancaster and Wellsville to help bring our downtowns back and strengthen our communities for the next generation of New Yorkers." NY Forward is a component of the state's economic development efforts, working together with DRI to accelerate and expand New York's burgeoning downtown revitalization. NY Forward is meant to serve smaller communities and support local economies that often have a feel and historic character that is distinct from larger, more urban central business districts typically funded through DRI. NY Forward communities are walkable, less dense areas that serve the immediate local community, and are more local in nature, focusing on the immediate surrounding residential or rural agricultural centric development.  Read the full press release here.
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