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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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Press Release

Wednesday, October 9, 2019 - 3:06pm
State to Collaborate with Southern Tier Regional Economic Development Council to Revitalize Hornell's Downtown Part of Governor's Comprehensive Approach to Transform Communities into Vibrant Neighborhoods and Boost Local Economies Downtown Revitalization Investments Complement "Southern Tier Soaring" - The Region's Comprehensive Strategy to Revitalize Communities and Grow the Economy Governor Andrew M. Cuomo today announced that Hornell will receive $10 million in funding as the Southern Tier winner of the fourth round of the Downtown Revitalization Initiative. As in the first three rounds of the DRI, one municipality from each of the state's 10 regional economic development regions is selected as a $10 million winner, marking another overall state goal to target $100 million in funding and investments to help communities boost their economies by transforming downtowns into vibrant neighborhoods where the next generation of New Yorkers will want to live, work and raise a family. "With this funding Hornell has a great opportunity to enhance its downtown area and secure better quality of life for the residents, along with a more robust economic future for the region," Governor Cuomo said. "We have seen a remarkable resurgence across New York's Southern Tier communities as a result of strategic investments through programs like the Downtown Revitalization Initiative, and we will continue to work with and empower these communities as they work to make the most of their local assets." "With funding from the Downtown Revitalization Initiative, Hornell will be able to reimagine its future and invest in key projects to grow the local economy," said Lieutenant Governor Kathy Hochul. "I've been to DRI communities across New York, and have seen firsthand the transformation that occurs with this targeted investment. The City of Hornell will now begin a planning effort to support local projects and attract businesses to the area, helping to boost the entire Southern Tier region." Read the full press release here. 
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Public Notice

Wednesday, October 9, 2019 - 2:30pm
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Public Notice

Wednesday, October 9, 2019 - 1:00pm
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Press Release

Wednesday, October 9, 2019 - 10:22am
Bankers Healthcare Group Will Create 330 New Jobs in the Salt City JMA Wireless, a Global Innovator of Technology that Designs and Builds Next-Generation Communication Systems, Will Create 100 jobs in Central New York Both Investments Complement "CNY Rising" - The Region's Comprehensive Strategy to Revitalize Communities and Grow the Economy Governor Andrew M. Cuomo today announced the expansions of two industry-leading companies in Syracuse located in the Central New York Region that will grow the region's economy. Bankers Health Group, LLC will relocate and consolidate several of their Central New York operations in Syracuse to a newly constructed facility located at 300-324 Spencer Street. JMA Wireless committed to move the manufacturing of 5G equipment from Texas to the historic Coyne Building in the southeast gateway to downtown Syracuse. These two companies will create more than 400 jobs altogether. "We're laser-focused on bringing major companies into Central New York and this announcement demonstrates our strategic, regionally based approach to economic development is bringing tangible results," Governor Cuomo said. "By expanding into Central New York, these two companies will help transform the region, create new employment opportunities and generate even more economic momentum across upstate New York." "Syracuse is continuing to grow with new businesses and serve as a hub for innovation," said Lieutenant Governor Kathy Hochul. "The expansion of Bankers Healthcare Group and JMA Wireless will add hundreds of jobs in the area and further advance the high-tech industry in Central New York. These investments will strengthen the region's economy, further revitalize the area, and create new opportunities for New Yorkers." Read the full press release here. 
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Public Notice

Monday, October 7, 2019 - 3:00pm
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Public Notice

Monday, October 7, 2019 - 2:00pm
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Press Release

Friday, October 4, 2019 - 3:12pm
Event Promotes Tourism in the North Country, Supporting Statewide Industry that Generated a Record $71.8 Billion in Direct Visitor Spending Historic $240 Million Investment Leads to New Lodge, Mountain Coaster, Zipline and Olympic Center - Renderings Are Available Here New York State to Welcome the World University Games to Lake Placid January 12-23, 2023 I LOVE NY Launches $1 Million, Two-Year Global Campaign Aimed at Athletes Worldwide, Showcases Region as Premier Location for High Performance Sports Empire State Trail Brewery Passport Launched to Promote Craft Beer and the 750 Mile Empire State Trail Governor Andrew M. Cuomo today announced the success of the 2019 I LOVE NY Adirondack Oktoberfest, promoting the world-class tourism destinations, attractions and recreational opportunities in Upstate New York. This year's Oktoberfest was the eighth event hosted by the Governor in the Adirondacks, showcasing the attractions, excitement, heritage and natural beauty of the region that welcomes visitors from around the world. "The Adirondacks are one of New York's crown jewels, and we are investing heavily in the region with new improvements for an enhanced tourism experience," Governor Cuomo said. "The success of this year's Oktoberfest events shows how the Adirondacks are becoming a world-class destination for travel, sports and relaxation for visitors from around the world. The new attractions will make it a place that has something for everyone to enjoy, driving up revenue for the North Country region and positioning it as a global leader in premier sports." "The annual Adirondack Challenge showcases the beauty of the North Country and our commitment to preserving it," said Lieutenant Governor Kathy Hochul, who participated in this year's challenge. "We have invested significantly in the growth of upstate New York with tourism serving as the third largest employer in the state. Continued investments in the Adirondacks are helping to promote the area, support craft beverage manufacturers, and increase recreational opportunities. Lake Placid is an iconic destination for sports and outdoor recreation, and we are proud to host the World University Games in 2023 to further strengthen regional tourism." Read the full press release here.
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Press Release

Thursday, October 3, 2019 - 11:01am
Cryogenic Equipment Manufacturer Will Consolidate Operations in New 76,000 Square-Foot Facility in the Town of DeWitt; Will Create Almost 20 New Jobs Investment Complements “CNY Rising” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy Empire State Development (ESD) today announced that cryogenic equipment manufacturer Cryomech will consolidate operations in an expanded facility in the Town of DeWitt in Onondaga County.  Cryomech, will occupy space in a new, 76,000 square-foot facility at 6682 Moore Road that is owned, by Quantum Cool. The project will allow the company to consolidate its workforce, currently housed in three buildings, into one production facility, adding up to 19 new jobs and retaining its current workforce of 123.  Cryomech broke ground on the project today and  expects to begin operating in the new space by late summer 2020. Empire State Development Acting Commissioner and President & CEO-Designate Eric Gertler said, "The continued growth of Cryomech in Central New York supports the strategic and locally focused state initiatives and investments that are fueling the region’s rising momentum and adding to the ongoing revitalization happening across all of Upstate New York.” Founded in 1963, Cryomech develops and manufactures high-performance cryogenic equipment, including cryocoolers and laboratory-scale helium management systems. The company develops products that cater to the specific needs of researchers and industries in a wide array of fields, including medical, agricultural, energy and aerospace. Half of its sales are highly custom-designed products.  Cryomech’s customers are located on all seven continents. Cryomech President Kelly Wypych said, “This expansion allows Cryomech to grow in pace with our customer’s growth.  This new building is custom designed to streamline our operations and increase our production capacity.  Our team of employee-owners are deeply committed to growing our business here in Central New York.  We are excited to grow our team, serve our customers and support our community.”  ESD is assisting the expansion with a $600,000 Capital Grant, and up to $600,000 through the Excelsior Jobs Program in exchange for job creation commitments. The total project cost has been placed at close to $17 million. State Senator Bob Antonacci said, “Cryomech’s investment in Central New York will support the economic development and job growth in this region. This is a great project that will help keep the economy growing.” State Assembly Member Pamela Hunter said, “Cyromech’s expansion and location consolidation further underscores the growth we are experiencing in our region. Central New York will continue to lead in technical innovation and economic opportunity. The new jobs to be created will directly benefit our communities and revitalization efforts.” Onondaga County Executive Ryan McMahon said, “This exciting project will support the continued momentum and economic development success that our region is experiencing. By leveraging our unique resources and making strategic investments, Onondaga County and Central New York are positioned to continue growing for generations to come.” Town of DeWitt Supervisor Edward M. Michalenko said, "We’re focused on building a thriving community in DeWitt. A key component of that focus is economic development, jobs, and facilitating positive, prosperous partnerships with future-oriented businesses like Cryomech. Over the years, several of the nation’s most distinguished manufacturing companies have made the Town of DeWitt their home; as a manufacturer of hig-tech equipment Cryomech represents the next chapter of manufacturing in DeWitt. We appreciate Cryomech choosing to consolidate their business at the Moore Road site in DeWitt, they are a valued member of our community and an important contributor to job growth in the broader community." For additional information regarding Cryomech, click here. Accelerating CNY Rising Today's announcement complements “Central NY Rising,” the region’s comprehensive blueprint to generate robust economic growth and community development. The State has already invested more than $5.6 billion in the region since 2012 to lay the groundwork for the plan – capitalizing on global market opportunities, strengthening entrepreneurship and creating an inclusive economy. 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 Syracuse, Oswego and Auburn as a destination to grow and invest in. Now, the region is accelerating Central NY Rising 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 5,900 new jobs. More information is available here. Contact: Shari Vincent | [email protected]| (585)399-7055 | (800) 260-7313 Press Office | [email protected] | (800) 260-7313
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Press Release

Wednesday, October 2, 2019 - 8:21pm
The Mohawk Valley Regional Economic Development Council (MVREDC) today announced it recently submitted its 2019 Progress Report – entitled State of the Region: Mohawk Valley 2019 Progress Report – to New York State to meet the October 1 deadline. The progress report details the council’s achievements in implementing its strategic plan and reflects the (region)'s progress on efforts to ensure sustainable and long-term growth in the six-county region and to leverage the region’s advantages in key industry sectors, including STEM Intensive industries and advanced manufacturing, cybersecurity, agribusiness and tourism. In furtherance of these goals, strategies and initiatives, the report recommends 30 priority projects to advance the region’s growth objectives. These projects represent up to $22 million in requested state funding, leveraging $156 million in private and other funding for total project expenses of more than $178 million. Detailed information about the MVREDC’s 2019 endorsed priority projects is available in the progress report at this link regionalcouncils.ny.gov/mohawk-valley. Lawrence T. Gilroy III, MVREDC Co-Chair and President of Gilroy, Kernan & Gilroy, Inc, said, “It has been exciting to see the growth the Mohawk Valley has experienced over the last eight years, especially in the fields of cyber security, UAS technology, and high tech manufacturing.  The signs of progress are undeniable, and as we continue to attract new families, new talent and new industry to the region, we are proud of the progress we are making every day and to continue to implement our strategy to rebuild and reinvigorate the communities that call the Mohawk Valley home.” Dr. Marion Terenzio, MVREDC Co-Chair and President of SUNY Cobleskill, said, “We continue to rewrite the story of the Mohawk Valley’s bright future after decades of decline and we continue to witness chapter after chapter of positive growth in every corner of our six county region. Through sound investments and the continuation of a regional strategy that focuses on cybersecurity and UAS technology, STEM intensive industries, agribusiness and food systems and tourism, we are ensuring that boundless opportunities are available to every single person who lives and works in the Mohawk Valley.” Round IX of the REDC initiative will award more than $750 million in state funding and tax incentives, including up to $150 million in capital grants and up to $75 million in Excelsior Tax Credits for projects and activities identified by the Councils as regional priorities in their communities. Additionally, over $525 million from state agency programs will be awarded through the CFA process.  Funding awards will be announced by the end of the year. The REDC process has transformed New York State government’s approach economic development, creating a statewide framework for bottom-up, regional economic growth and streamlining the state funding application process. Since 2011, the first year of the initiative, more than $6.1 billion has been awarded to over 7,300 job creation and community development projects consistent with each region’s strategic plans, projecting to create and retain more than 230,000 jobs. 2019 REDC Competition In 2019, all 10 REDCs will be competing for a designation as a Top Performer. Five Top Performers will be selected and will receive a share of $100 million in Empire State Development Capital Grant funding, with the remaining five regions receiving a share of $50 million in Empire State Development Capital Grant funding. Each region will also be eligible for up to $75 million in Excelsior Tax Credits.  Each region will also receive $10 million to implement projects identified through the Downtown Revitalization Initiative, and projects from all 10 regions submitted through the CFA will be eligible for over $525 million in other state agency funds. About the Consolidated Funding Application As part of Governor Cuomo’s efforts to improve the state’s economic development model, a NYS Consolidated Funding Application (CFA) was created to streamline and expedite the grant application process. The CFA process marks a fundamental shift in the way state resources are allocated, ensuring less bureaucracy and greater efficiency to fulfill local economic development needs. The CFA serves as the single-entry point for access to economic development funding, ensuring applicants no longer have to slowly navigate multiple agencies and sources without any mechanism for coordination. Now, economic development projects use the CFA as a support mechanism to access multiple state funding sources through one application, making the process quicker, easier, and more productive. To access the CFA, please visit apps.cio.ny.gov/apps/cfa/. About the Regional Economic Development Councils The Regional Economic Development Council (REDC) initiative is a key component of Governor Cuomo’s approach to State investment and economic development. In 2011, Governor Cuomo established 10 Regional Councils to develop long-term strategic plans for economic growth for their regions. The Councils are public-private partnerships made up of local experts and stakeholders from business, academia, local government, and non-governmental organizations. The Regional Councils have redefined the way New York invests in jobs and economic growth by putting in place a community-based, bottom up approach and establishing a competitive process for State resources. For more information on the Regional Councils, visit regionalcouncils.ny.gov. Contact:  Kristin Devoe | [email protected] | 518-292-5107 ESD Press Office | [email protected] | 800-260-7313
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Press Release

Wednesday, October 2, 2019 - 12:45pm
New York Rapidly Approaching Goal of Utilizing MWBEs for 30 Percent of Contracting During the 2018-2019 Fiscal Year, Nearly $3 Billion in State Contracts was Awarded to MWBES; Since 2011, Nearly $16 Billion Has Been Awarded Governor Andrew M. Cuomo today announced that the utilization rate for Minority and Women-Owned Business Enterprises on state contracts increased to 29.13 percent during the 2018-2019 Fiscal Year, once again achieving the highest rate in the nation. In total, MWBEs won more than $2.93 billion in state contracts during the 2018-2019 Fiscal Year. The announcement was made in conjunction with New York State's ninth annual MWBE Forum, which brings together thousands of business owners, community leaders, state officials and contractors' representatives to discuss state contracting opportunities and learn about resources available to MWBEs. "In New York, we know that diversity is a strength, not a weakness — and when we empower minority and women-owned businesses to compete for state contracts, we create a better New York for all," Governor Cuomo said. "Our nation-leading utilization rate reflects the unmatched pool of MWBEs in the Empire State and our concerted efforts to create a more equal playing field for these companies." "We are breaking down barriers for aspiring entrepreneurs and providing opportunities to ensure the growth and success of minority and women owned businesses," said Lieutenant Governor Kathy Hochul. "The renewal and expansion of our robust MWBE program is advancing New York's nation-leading MWBE goals, with the utilization rate climbing to 29.13%. We are committed to encouraging and supporting minority and women owned businesses across the state, creating jobs and strengthening the economy as part of our overall efforts to promote diversity." Read the full press release here. 
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