Empire State Development Blog
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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, December 7, 2022 - 5:06pm
Includes Upgrades to Winter Sports Facilities, New Retail and Dining Areas, Improvements to Raise Environmental Standard for Future Host Cities
Newly Renovated Lake Placid Olympic Museum to Open Tomorrow at Lake Placid Olympic Center
Tickets to Lake Placid 2023 FISU World University Games Available Here
Governor Kathy Hochul today announced the completion of a $104 million renovation of the Lake Placid Olympic Center ahead of the Lake Placid 2023 FISU World University Games, which will take place from January 12-22, 2023. The renovations, completed by the New York State Olympic Regional Development Authority, include upgrades to the Olympic Center's year-round facilities, as well as an all-new retail shop, indoor and outdoor dining area, and a fully updated Lake Placid Olympic Museum, which will open tomorrow, Thursday, December 8. Together, these upgrades mark the completion of final preparations for the Games and will support future winter sporting events in Lake Placid.
"The transformation of the Lake Placid Olympic Center honors the region's rich winter sport history and cements its standing as a global winter sport destination for decades to come," Governor Hochul said. "With these renovations now complete, New York is officially ready to welcome athletes and spectators from all over the world to next year's World University Games. I look forward to seeing the new arenas, shops, and dining areas in-person next month, and I encourage all New Yorkers to buy their tickets to this once-in-a-lifetime sporting event."
The Lake Placid 2023 FISU World University Games are an 11-day multi-winter sports event and educational festival, which is expected to draw 1,500 athletes from more than 50 countries and 600 universities to compete in 12 winter sports and 86 medal events. Tickets to the Games are available here.
Renovations to the Olympic Center, which is maintained and operated by ORDA, include revitalization of the 1980 Herb Brooks and 1932 Jack Shea Arenas, reconstruction of the James C. Sheffield Speed Skating Oval, an upgraded refrigeration plant, and larger, redesigned guest spaces. The venue's Miracle Plaza will also now have a new retail shop where visitors can purchase gifts and souvenirs and space for indoor and outdoor dining at Roamers Café with incredible views of the Adirondack High Peaks.
Read the full press release here.
Press Release
Tuesday, December 6, 2022 - 2:19pm
Award-Winning Independent Design and Manufacturing Company Finalizes Move of Headquarters from Brooklyn to the Town of Ulster
Empire State Development today announced the grand opening of the new global headquarters for RBW, a lighting design and manufacturing company, in the town of Ulster. In order to meet growing customer demand, RBW has acquired a new 100,000 square foot facility and will invest over $5.4 million for acquisition, construction and renovation and the purchase of machinery and equipment for their operations. Empire State Development has awarded RBW up to $547,500 in Excelsior Jobs Tax Credits in exchange for the retention of 35 and the creation of 49 new, local jobs.
Lieutenant Governor Antonio Delgado said, "RBW has a forward-thinking vision that incorporates sustainability, cutting edge research and development, as well as innovation into their facility and products. We are pleased that they chose to locate their manufacturing facility in the Mid-Hudson Region."
Empire State Development President, CEO and Commissioner Hope Knight said, "RBW is a dynamic and creative company and is a perfect fit for the vibrant and up and coming Mid-Hudson Region. Manufacturing is an important component to the regional economy and RBW is creating beautiful products and their investment is bringing good jobs to Ulster County."
RBW Managing Partner Charles Brill said, "RBW is looking forward to growing into its new headquarters for innovation and creativity in Kingston. We’re placing innovation at the forefront of all our projects and letting that mindset lead us. Whether that’s honoring our B Corp commitment and making a positive impact on the planet and our community, or establishing a state-of-the-art Industry 4.0 factory floor, we plan to be on the frontier of it all."
RBW was founded in 2008 by Rhode Island School of Design graduates Theo Richardson, Charles Brill and Alex Williams. The three were college roommates sharing a basement studio on the Lower East Side in Manhattan and determined to embark on their design career, started out upcycling found objects to create furniture and eventually lighting fixtures. Early success landed them clients such as Urban Outfitters and eventually Fitbit, Yelp, Uber as well as high-end hotels across the country. From the Lower East Side, the company eventually established their headquarters in Brooklyn and after expanding several times, has set up operations in a new and larger facility in the Mid-Hudson Region that is 8x the scale of their previous headquarters and production space.
RBW has renovated 100,000 square feet of their building, located at 575 Boices Lane, which has been largely vacant for the last five years. They added a new roof, solar panels, energy efficient LED lighting, daylight harvesting, dimming controls, and use collaborative robotics.
Senator Michelle Hinchey said, "When visionary companies like RBW decide to move their global manufacturing headquarters to small upstate cities like Kingston, it feeds local innovation, delivers good local jobs, and supports the growth of a skilled local workforce — everything we are working towards to firmly establish upstate as a real economic driver. I’m proud to support this momentous grand opening, and I thank RBW for focusing its expansion in Ulster County."
Acting Ulster County Executive Johanna Contreras said, "RBW is exactly the type of business we are striving to bring to Ulster County: a manufacturer that looks toward the future, cares for its workers by paying a living wage, and has an environmentally sustainable work model. I speak for the residents of Ulster County when I say thank you for choosing Ulster County for your headquarters."
About RBW
As an award-winning, independent design and manufacturing company, RBW is an American brand for a higher quality of light. By listening closely to the needs of customers, RBW’s forward-thinking, technology-driven approach invents lighting solutions that are out of the ordinary—products that take on unprecedented shapes or make subtle upgrades on familiar forms. Each collection embodies a distinct personality while upholding the hallmarks of RBW’s family DNA: Intuitive ease and simplicity. Integrity of craft and material. High-quality lighting with a playful point of view. As a Certified B Corp, RBW’s goal is to expand their status as a leader in the lighting design industry and make a positive impact on both the planet and community by upholding the highest standards in social and environmental accountability. Meticulously engineered for a broad range of applications, RBW lighting has been installed all over the world, from the renowned Noma restaurant in Copenhagen to Fortune 500 company offices across the United States. Thoroughly invested in customer success, RBW prides itself on providing excellent service, delivering quickly and reliably, while product specialists faithfully remain on call. For more information, visit: www.rbw.com.
About Empire State Development
Empire State Development is New York’s chief economic development agency. 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
Press Release
Monday, December 5, 2022 - 11:00am
Five Downtown Revitalization Projects to Enhance Rochester's Vibrant Culture
$10 Million Downtown Revitalization Initiative is Part of a Strategic Goal to Enrich the Community, Promote Business and Create Housing Opportunities
Renderings of Projects Available Here
Governor Kathy Hochul today announced five transformational projects in the City of Rochester as part of the $10 million Downtown Revitalization Initiative Award. The Awards will leverage the community's significant redevelopment investments with new infill projects and redevelopment of historic properties. Renderings of the Rochester revitalization projects are available here.
"Through the Downtown Revitalization Initiative, we are helping ensure our local partners have the resources they need to enhance New York's downtowns," Governor Hochul said. "With this $10 million award, we are ushering in a new era for Rochester and creating more opportunity for residents as we make the community a better place to live, work and play."
The City of Rochester's revitalization is focused on creating an enhanced sense of place with renewed activity and liveliness. The Awards will transform the Downtown Revitalization Initiative by adding housing, lodging accommodations, commercial spaces and public infrastructure improvements.
The investments are part of the Governor's ongoing efforts to revitalize the economy and create more opportunities within the Finger Lakes Region. The Downtown Revitalization Initiative is led by the Department of State providing technical assistance as each participating community develops a Strategic Investment Plan identifying specific projects with a unique vision for the revitalization of the downtown area.
Read the full press release here.
Press Release
Friday, December 2, 2022 - 4:15pm
Program will Jump-Start New York's Shovel-Readiness and Increase the State's Attractiveness to Large Employers
Informational Webinar for Potential Applicants to be Held on December 15
Application Portal Opens December 15
Governor Kathy Hochul today announced that the new up-to-$200 million Focused Attraction of Shovel-Ready Tracts grant program to attract and expand key growth industries in New York State will now accept Letters of Intent from potential applicants. FAST-NY provides certification and grant funding to help prepare key commercial sites across New York State for development in order to attract high-tech manufacturing; interstate distribution and logistics businesses; and other large employers. Empire State Development is accepting Letters of Intent as a first step in the application process and will accept applications on a rolling basis from those who have submitted letters once the application portal opens on December 15.
"The new FAST-NY program will further establish New York's standing as a commercial hub by increasing our supply of shovel-ready sites and attracting the jobs and businesses of the future," Governor Hochul said. "With this up-to-$200 million investment, we are helping to supercharge our state's economy and draw in the key industries that bring high-growth, high-wage jobs. I encourage those interested in FAST NY to jumpstart their application by submitting a letter of intent."
Empire State Development President, CEO and Commissioner Hope Knight said, "The announced historic Micron investment in Central New York is proof positive that having a shovel ready site for companies to build on is a smart investment. As these companies look to take advantage of the federal CHIPS and Science and New York's own Green CHIPS program, New York will need additional shovel-ready sites, and FAST NY will help usher in a new era of growth."
Read the full press release here.
Press Release
Thursday, December 1, 2022 - 3:24pm
Project Will Include Sale of Parcel and Multiple Buildings, Including One of the Largest Buildings on Buffalo's Waterfront
Photo of the Property Available Here
Governor Kathy Hochul today announced a Request For Proposals to redevelop the building known as Terminal A on Buffalo's Outer Harbor, an approximately 550,000-square- foot building that has been vacant for years. This RFP presents an opportunity for experienced real estate developers to purchase and transform the main terminal and three adjacent buildings into a unique waterfront destination, located at 901 Fuhrmann Boulevard. Erie Canal Harbor Development Corporation, a state entity, envisions that the project could potentially include residential, restaurants, office space, cultural attractions and parking. Proposals are due by 8 p.m. on Thursday, March 30, 2023.
"Terminal A is a massive vacant structure that has tremendous potential to become a destination that builds on the success of other Outer Harbor improvements," Governor Hochul said. "Now is the time for Buffalo to take advantage of this unique and historic architectural asset, much like what has occurred with large terminals in other waterfront cities. We look forward to seeing the creative proposals submitted for transforming the property into a destination that will attract visitors to the water's edge while also providing a unique place to live and thrive."
Empire State Development President, CEO, and Commissioner Hope Knight said, "Governor Hochul's vision for the redevelopment of Terminal A represents yet another step in the dramatic revitalization of Buffalo's waterfront. We have seen how the Outer Harbor has become a must-see destination, benefiting from smart investments that have not only generated jobs, but have created pride in a place where people want to live, work and visit."
Read the full press release here.
Press Release
Thursday, December 1, 2022 - 1:47pm
State Supported, World-Class Recreation and Sporting Complex Will Serve as Premier Tournament-Based Facility for Ice Hockey, Box Lacrosse, Soccer and Other Field Sports
Will Host Major Tournaments, Drawing Sports Teams from the Northeast and Canada to the Mohawk Valley Region
Projected to Attract More Than 320,000 Annual Visitors Who Will Add More Than $26 Million to Regional Economy, Reinforcing State's Economic Vision for Mohawk Valley
Governor Kathy Hochul today announced the grand opening of the $64 million Nexus Center in downtown Utica. The announcement comes in advance of a ceremonial "puck drop" to be held later this evening by local officials. Thanks to state support, which includes $22 million through the Upstate Revitalization Initiative, the 170,000 square-foot tournament-based recreation and sporting complex will be utilized for ice hockey, box lacrosse, soccer and other field sports, and will draw competitive youth teams from across the U.S. and Canada. The Nexus Center is projected to host 24 hockey and 24 lacrosse tournaments each year, welcoming more than 320,000 annual visitors and generating over $26 million annually in direct visitor spending.
"The completion of the world-class Nexus Center cements the State's ongoing vision for a reimagined Utica as a destination for sports fans and families alike," Governor Hochul said. "Thanks to an assist from New York, this facility will surely put the Mohawk Valley's economy on a winning streak for years to come."
The Nexus Center has three sheets of ice and is located next to the Adirondack Bank Center, the home of the American Hockey League's Utica Comets, Utica University men's and women's hockey programs and the Utica Jr. Comets youth hockey organization. The ice can be easily transformed into field-based surfaces to support turf sports. In addition, the Nexus Center offers more than 25 locker rooms, commercial office space, college classroom space, retail space, food and beverage services, and other multi-purpose training spaces.
The Nexus Center will focus on out-of-town tournament participants year-round, while catering to local athletes during the week for practices and training. When the facility is not actively being used for a tournament or other events, it will function as a community sports and recreation center for area sports organizations, high schools and colleges. The connectivity of the Nexus Center to the Adirondack Bank Center at the Utica Memorial Auditorium also enhances its overall regional impact and scope. Future plans for the Nexus Center include expanding to a four-season sporting center, with the potential to add outdoor multi-use sports fields to the north and into the Harbor Point area - a vision consistent with the Utica Harbor Master Plan.
Utica University has recently announced its partnership with the Nexus Center to enhance is Sports Management program, providing a highly innovative, first-of-its kind opportunity for students in the sports management program to gain real, professional experience. The Nexus Center will allow students to have a hands-on, interactive learning experience to help put their foot in the door when searching for employment upon graduation. In the last decade, the sports industry skyrocketed from 23rd to the sixth largest industry across the country. Utica University has roughly 40 students currently in the sports management program.
Read the full press release here.
Press Release
Wednesday, November 30, 2022 - 2:35pm
Sustainable Technology Company Further Growing its U.S. Operations at Eastman Business Park; Commits to Creating almost 270 New Jobs
Li-Cycle To Receive up to $13.5 Million in State Support through Empire State Development's Excelsior Jobs Tax Credit Program
NYS Investment Complements "Finger Lakes Forward" - The Region's Comprehensive Strategy to Revitalize Communities and Grow the Economy
Project Rendering Available Here
Governor Kathy Hochul today announced New York State's agreement with Li-Cycle, a Canadian lithium-ion battery resource recovery company, to create nearly 270 jobs in Monroe County through the performance-based Excelsior Jobs Tax Credit Program. The company will expand its U.S. operations through a new facility known as the Rochester Hub, which is currently being constructed on a 41-acre parcel of land formerly known as Eastman Business Park South. This is in addition to Li-Cycle's first U.S. Spoke facility currently operating within the business park, which has created more than 35 jobs. The latest project is expected to create up to 269 new jobs, and more than 1,000 jobs during construction. Empire State Development has agreed to support this project with up to $13.5 million in Excelsior Jobs Program tax credits in exchange for the job creation commitments.
"We are powering New York's cleantech economy by supporting Li-Cycle's expansion, which will not only increase our lithium-ion battery supply but also recharge our thriving energy storage industry," Governor Hochul said. "With state support, Li-Cycle is bringing over 260 new jobs to the Finger Lakes region while supporting our state's clean energy sector. My administration is committed to supporting projects that will continue to bolster our state's economic growth and create a cleaner, more resilient future for all New Yorkers."
In January 2020, Empire State Development announced that Li-Cycle would establish its first U.S.-based facility in New York State in an effort to tap into the robust lithium-ion battery supply chain available nationwide. ESD is assisting Li-Cycle with up to $13.5 million through the performance-based Excelsior Jobs Tax Credit Program once Li-Cycle starts meeting the new employment commitments. Monroe County and Greater Rochester Enterprise are also assisting with the project. Li-Cycle expects to start commissioning of the Rochester Hub facility in stages in 2023.
Li-Cycle's "Spoke" and "Hub" operations will complement each other. Li-Cycle currently has several US-based Spokes that process end-of life batteries and battery manufacturing scrap through a proprietary process which produces minimal wastewater and emissions. The primary product of Li-Cycle's Spokes is black mass, containing a number of highly valuable critical metals, including lithium, cobalt and nickel. Li-Cycle will convert the black mass into battery-grade materials at the 'Hub' in an environmentally sustainable manner, using its proprietary technologies.
The 'Spoke' operation is capable of shredding up to 5,000 tonnes per year of lithium-ion batteries. Ultimately, the "Hub" facility will receive the black mass from its' spoke locations across the US and process battery material that is equivalent to approximately 225,000 electric vehicles per year. Supplying critical battery-grade materials domestically will have an important economic, environmental, and national security impact in the US.
Read the full press release here.
Press Release
Wednesday, November 30, 2022 - 2:32pm
Ten Downtown Revitalization Projects Increase Housing, Enhance Public Spaces and Streetscapes, and Support Small Business
Part of a Strategic Goal to Enrich the Community with Key Catalytic Projects
Governor Kathy Hochul today announced 10 transformational projects in the Village of Tupper Lake as part of the $10 million Downtown Initiative Award. These projects will improve downtown public spaces and streetscapes and expand commercial, residential, entertainment and recreational opportunities in the Village's waterfront Uptown District.
"With revitalized waterfront trails, expanded housing options, and even a new brewery, Tupper Lake is shaping up to be a four-season, must-visit destination in New York," Governor Hochul said. "While we are already seeing the benefits to communities across the North Country, I am excited to continue our investment in small businesses and the upstate economy."
Tupper Lake is a resurgent Adirondack community that aims to make the community a nationally-recognized, vibrant, four-season Adirondack destination through the ongoing revitalization of their compact, mixed-use, walkable, waterfront Uptown District. The Village, which is located on the easternmost shore of Raquette Pond, originated as a logging and timber center in the late 1800s. Now, Raquette Pond and the surrounding forests attract tourists and outdoor recreation enthusiasts who contribute to the local economy and downtown businesses. The DRI awards will enhance tourist amenities, improve the streetscape and inter-connectivity among various destinations and create significant new housing, commercial and entertainment options.
The investments are part of the Governor's ongoing efforts to revitalize the upstate economy and create more opportunities within the North Country. The DRI is led by the Department of State providing technical assistance as each participating community develops a Strategic Investment Plan identifying specific projects with a unique vision for the revitalization of the downtown area.
The specific projects to be funded through the DRI support several goals and strategies contained in the community's Strategic Investment Plan, such as—expanded housing options; improved walkability and streetscape connectivity; and increased arts, cultural, entertainment and recreational opportunities by supporting small businesses. The $9.7 million State investment in these projects through the DRI will leverage an estimated $55 million in additional public and private sector investments as the revitalization process proceeds and builds momentum.
Read the full press release here.
Press Release
Wednesday, November 30, 2022 - 1:08pm
Grants Awarded Through REDC Initiative to 69 Capital and Working Capital Projects Across New York State
Full List of REDC Awardees Thus Far Can be Found Here
Empire State Development (ESD) today announced that nearly $15 million has been awarded through the Market New York program to support 69 projects across New York State through the Regional Economic Development Council initiative. Market New York funding supports tourism facility capital improvement projects and regionally-themed marketing projects that promote travel destinations, attractions and special events. The program and projects supported through its funding align with each region's long-term strategic plans for economic growth.
"The projects represented by these Market New York awards illustrate the breadth and beauty of New York State’s many arts, cultural and visitor attractions," Lieutenant Governor Antonio Delgado, Chair of the Statewide Regional Economic Development Councils, said. "This program ensures that New York State's tourism offerings across our remarkable regions continue to reflect the diverse and unique interests of residents and visitors alike."
ESD President, CEO and Commissioner Hope Knight said, "Tourism is vital to our communities; it showcases the best of New York State, and visitor spending supports small businesses, jobs and regional economies. Market New York funding helps to ensure that the state's tourism partners can reach new markets and audiences, and enables destinations to upgrade, grow and expand to encourage sustainable economic growth."
ESD Vice President and Executive Director of Tourism Ross D. Levi said, "Beyond serving as New York's destination marketing organization, Empire State Development and the Division of Tourism support the state’s vital tourism industry through initiatives like tourism job fairs, educational programming, and funding opportunities like Market New York. The projects awarded Market New York grants will help give travelers even more reasons to come be a part of all there is to love in New York State all year long."
The tourism and hospitality sector is a pillar of New York's economy; it is the state's third largest industry, supporting one in 11 private sector jobs. Visitation in New York State sustains an economic impact of $85.5 billion and generates enough in state and local taxes to save every household in the state more than $1,000 annually. Coupled with New York's engaging marketing campaigns and Governor Kathy Hochul's record-setting post-pandemic industry support programs, projects awarded funding through Market New York help to promote the state diverse regions as world-class travel destinations, sparking economic growth and creating jobs.
Awardees include:
Lake George Music Festival (Capital Region) – $40,000 Working Capital Grant: The Lake George Music Festival (LGMF), an internationally-recognized classical music festival, plans to use grant funds to promote a new initiative called the LGMF "Plus Pass." This summer events series promotion will market a season pass valid at the Lake George Music Festival's summer performances and events, plus several other cultural and scenic tourist attractions, increasing local and regional visitation.
CNY Arts, Inc. (Central New York) – $150,000 Working Capital Grant: CNY Arts will utilize grant funds for a marketing campaign designed to promote and raise the visibility of Central New York’s Arts Community. The campaign will attract new and returning visitors to (re)discover the region and its rich cultural activities and expand their experience of the region, promoting return visits.
University of Rochester/Memorial Art Gallery (Finger Lakes) – $45,000 Working Capital Grant: The Memorial Art Gallery (MAG) will develop a marketing plan to attract increased visitation from within a six-hour drive of Rochester to an interactive experience exhibition, created by the internationally-recognized artist Yayoi Kusama, that will be on view at MAG from late 2023 through spring 2024.
Southold Historical Society (Long Island) – $67,000 Capital Grant: Southold Historical Museum will use the funds to support the planning and implementation of a tourism marketing plan with the goal to showcase the museum's significance on a regional, national and international basis.
Dia Art Foundation (Mid-Hudson) – $400,000 Capital Grant: Dia Art Foundation will use grant funds for critical renovations, including facade restoration addressing climate control/energy efficiency issues; relandscaping of an area impacting accessibility; creating more accessible gender neutral and family restrooms; and replacement of the HVAC system.
Integrated Community Alternatives Network (ICAN) (Mohawk Valley) – $425,000 Capital Grant: ICAN will use funding for a second project phase which is to purchase, construct, and install museum exhibits for Utica Children’s Museum, offering learning experiences that reflect and represent the region, and elevating the museum’s profile through rebranding and website development
NYCxD, Inc. (New York City) – $505,000 Working Capital Grant: NYCxDESIGN will host NYC's Annual Design Week, highlighting thousands of New York City’s creatives and design businesses by hosting events across the city’s five boroughs. The project will expand impact through new programming that will drive more visitors to New York City and target inclusive growth for local businesses.
Town of Massena (North Country) – $41,000 Working Capital Grant: The Town of Massena will use grant funds to increase important branding and marketing support for major fishing tournaments, as part of the community's continuing efforts to make Massena the fishing capital of the Northeast and a worldwide tourism destination.
Opera Ithaca (Southern Tier) – $75,000 Working Capital Grant: The 2023 Opera Ithaca will use the funding to plan and promote extended outreach for a special event in the Southern Tier. This event will expand upon the past marketing campaigns with an anticipated increase in overnight tourism.
The Aquarium of Niagara (Western New York) – $900,000 Capital Grant, $100,000 Working Capital Grant: The Aquarium of Niagara will use the tourism capital grant to fund a portion of the construction costs to open a new cultural attraction in the Niagara Gorge Discovery Center. The marketing funds will be used to directly appeal to visitors through a regionally-based, multi-pronged advertising campaign.
To further support the state's tourism industry, ESD continues to accept applications for the Meet in New York and the Tourism Return-to-Work programs. The Meet In New York grant program was established to encourage the return of conferences, meetings and trade shows by covering a portion of event-based discounts; more information is available here. The Tourism Return-to-Work program provides financial assistance to tourism industry businesses that create jobs previously lost due to COVID-19 pandemic economic hardship. More information, including the program application, is available here.
About the Consolidated Funding Application
The Consolidated Funding Application 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. Learn more about the CFA here.
About the Regional Economic Development Councils
The Regional Economic Development Council initiative is a key component of the State’s approach to State investment and economic development. In 2011, 10 Regional Councils were established 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. Learn more at regionalcouncils.ny.gov.
About New York State
New York State is a premier vacation destination with world-class attractions, picturesque natural beauty, locally sourced cuisine and a booming craft beverage scene, an array of accommodations, and iconic, year-round festivals and events. Its 11 diverse vacation regions feature some of the world's top ranked beaches; two out of America's top three favorite state parks; breathtaking Niagara Falls; more ski areas than any other state; one of the nation's longest foliage seasons; multiple Halls of Fame; North America's longest, fastest and highest zipline; the largest publicly protected area in the contiguous United States; and the country's longest multi-use trail. Add in the state's unique museums, historic landmarks, cultural sites, charming small towns and urban playgrounds, and it's no wonder New York has been consistently chosen as a top getaway by travel publications and experts. To help plan your next New York State vacation, visit www.iloveny.com.
Contact:
ESD Press Office | [email protected] | (800) 260-7313
Press Release
Tuesday, November 29, 2022 - 4:00pm
$56.5 Million Allocated Through the Long Island Investment Fund to Date
State Investments Leverage $122 Million in Workforce Training and Technology Advancements
Governor Kathy Hochul today announced the $350 million Long Island Investment Fund awarded its next three grants totaling $46.5 million: $30 million for Farmingdale State College to build a Center for Computer Science and Information Technology, $10 million for Long Island University to build a College of Science Applied Research and Innovation facility, and $6.5 million for Stony Brook University to construct a new Quantum Internet Test Bed. The Governor also announced that Farmingdale State College's new Center for Computer Science and Information Technology will be fully funded by the State and will use $45 million from the State University of New York Construction Fund for the project in addition to the $30 million from the LIIF. With these projects, the Long Island Investment Fund has invested $56.5 million, leveraging another $122 million in public and private dollars, to help drive economic growth on Long Island, and will create hundreds of new jobs on Long Island and support the education and training of thousands. Today's announcement further demonstrates Governor Hochul's commitment to the region's future by building the foundational infrastructure needed to support Long Island's talented workforce and continue its status as a hub of technology and innovation.
"Through the Long Island Investment Fund, my administration is committed to making Long Island our nation's premier corridor for life sciences and research innovation," Governor Hochul said. "The awards announced today will help create jobs in cutting-edge sectors, boost workforce training, and support nation-leading innovation right here in New York. As we attract and retain top talent through our investments in state-of-the-art research facilities and infrastructure, Long Island is where the future is being imagined."
Included as part of Governor Hochul's FY 2023 Enacted Budget, the Long Island Investment Fund focuses on projects that will support and grow the regional economy, enhance communities, and have lasting economic impacts across Long Island. The Long Island Investment Fund awarded its first grant of $10 million to The Feinstein Institutes for Medical Research to construct new state-of-the-art labs to support medical and infectious disease research. To date, the Fund has allocated $56.5 million to projects that will support transformative projects to strengthen Long Island's economy.
Empire State Development President, CEO and Commissioner Hope Knight said, "The latest Long Island Investment Fund projects demonstrate the potential for transformative job, higher-ed and industry growth throughout the region. Investing in workforce development and partnering with Long Island's top-tier educational institutions will help to create a tech talent pipeline that will benefit industries in one of New York State's premier life science hubs."
Read the full press release here.