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, March 24, 2021 - 6:35pm
“Congratulations to Buffalo’s ACV for its listing on Nasdaq’s Global Select Market, under the symbol “ACVA.”  ACV, the leading online automotive marketplace for dealers, has become the third high-tech startup in Buffalo to go public in the last decade, following Synacor Inc. in 2012 and Athenex in 2017, and was the city’s first unicorn startup.  Innovation and the entrepreneurial spirit are thriving in Western New York. "New York has believed in ACV from the beginning. ACV is a 2015 $1 million grand prize winner of the Buffalo Billion 43North business plan competition, supported by New York Ventures through its investment in Z80 Labs and was a START-UP NY company. ACV is fundamentally changing the wholesale automotive industry and its success will lift other startups in New York State." Contact: Press Office | [email protected] | (800) 260-7313  
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Press Release

Wednesday, March 24, 2021 - 5:00pm
The 60,000-square-foot facility will support local farmers and underserved New Yorkers Governor Andrew M. Cuomo, Lieutenant Governor Kathy Hochul, Empire State Development Acting President and CEO Eric Gertler, New York State Department of Agriculture and Markets Commissioner Richard A. Ball, New York City Economic Development Corporation Acting President Rachel Loeb, Congressman Ritchie Torres, Borough President Ruben Diaz Jr., Council Member Salamanca and community members joined GrowNYC to celebrate the start of construction for the New York State Regional Food Hub (The Hub), a joint State and City project resulting from the NYS-NYC Regional Food Hubs Task Force. When complete, the facility will strengthen the local food economy and improve access to healthy and affordable foods for low-income communities. The Hub, a 60,000-square-foot cold-storage facility on a 135,000-square-foot lot in the Hunts Point neighborhood of the Bronx, will dramatically expand GrowNYC’s wholesale distribution infrastructure that makes high-quality, local foods accessible to underserved New Yorkers through wholesale buyers, including institutions and restaurants, and through innovative partnerships with nonprofit organizations. It will also create quality jobs all while strengthening rural communities by supporting New York State farmers. The new food hub will work with a range of small- and mid-sized farms, providing unprecedented access to New York City’s wholesale marketplace. The processing facility will also assist Upstate producers and processors in targeting institutional and private sector procurement opportunities. This first-of-its-kind, publicly funded food hub dedicated to supporting regional farmers will serve as a model throughout the country. Prior to the Covid-19 health crisis, 1.4 million New York City residents were food insecure. Because of the pandemic, that number has jumped to approximately 2 million people. In 2020, GrowNYC’s wholesale division distributed 5.4 million pounds of fresh produce, 2.9 million of which was through their Emergency Fresh Food program implemented in March of 2020 to provide no-cost emergency fresh food to communities throughout New York City hardest hit by Covid. The Hub will allow GrowNYC to increase the amount of food they distribute to 20 million pounds, benefitting local farmers and underserved New York communities, and ensuring the capability to respond to potential future emergency food needs for New Yorkers. The project received major funding from the State of New York, Empire State Development, the New York City Economic Development Corporation, the New York City Council; Office of the Bronx Borough President, New Markets Tax Credit Financing from NYC Neighborhood Capital Corporation and J.P Morgan Chase Community Development Banking, additional funding from the Federal Economic Development Administration, Bank of America Foundation and Green Mountain Energy, and bridge financing from Farm Credit East, Low Income Investment Fund and Enterprise Community Partners, the $39 million project will take 18 months from groundbreaking to ribbon cutting. The New York State-New York City Regional Food Hubs Task Force, convened at the direction of the Governor, was announced at the State’s first-ever Upstate-Downstate Summit.  The Task Force was charged with developing a roadmap to build a Regional Food Hub System to enhance the connection between upstate food producers and the downstate market, increase access to fresh food for underserved populations, boost in-state food production and consumption, and create new job opportunities in the growing sector of food manufacturing. It placed a high priority on a regional food hub as part of its final action plan. “Taking steps to fight back against food insecurity is critical in our post COVID recovery and improves the health and quality of life for all New Yorkers,” Governor Cuomo said. “Through this groundbreaking partnership, we are taking real action to remove the barriers that have limited the ability of underserved New Yorkers to access fresh, nutritious foods, by creating a direct connection between our hard-working farmers and communities most in need. New York is proud to have played such a vital role in the development of this game changing Food Hub and we look forward to continuing our work with our partners to find additional ways to ensure that no New Yorkers go to bed hungry.” "Today's groundbreaking of the first-of-its-kind New York State Regional Food Hub in the Bronx is a win-win for New York families and farmers," Lieutenant Governor Kathy Hochul said. "The state-of-the-art Hub will open up new markets for upstate farmers, put more fresh food on the tables of underserved New Yorkers, and create good-paying jobs. This is how we build more equitable, healthier, and sustainable communities for the post-pandemic future." “Empire State Development, through our New York City Regional Economic Development Council, is thrilled to be a partner on the New York State Regional Food Hub project,” Empire State Development Acting Commissioner, and President & CEO-designate Eric Gertler said. “The Hub’s unique service model not only demonstrates that New York's ​diverse economy includes farming but also enhances business opportunity for Upstate farmers to provide fresh food and produce options for their downstate neighbors.”  New York State Department of Agriculture and Markets Commissioner Richard A. Ball said, “I am so pleased to join this groundbreaking ceremony and help to celebrate the New York State Regional Food Hub with all our partners who have worked so hard to make the Food Hub a reality.  This critical infrastructure project came to fruition thanks to the vision and insight of the New York State-New York City Food Hubs Task Force, which was a result of the State’s Upstate-Downstate Summit.  The New York State Regional Food Hub is an incredible opportunity to connect our upstate farmers with the downstate marketplace, growing their business while increasing food access to underserved New Yorkers.  The Food Hub, when complete, will be a game changer for New York agriculture.”  “The pandemic demonstrated just how critical investing in and diversifying our regional food system is,” said Deputy Mayor for Housing and Economic Development Vicki Been. “By strengthening our regional distribution channels, creating local jobs, and supporting regional farmers, this Regional Food Hub embodies how infrastructure investments can rebuild New York City into a stronger, fairer, and more resilient city.” “Every New Yorker should have access to fresh, affordable produce especially in communities hardest hit by COVID-19,” said NYCEDC Acting President Rachel Loeb. “That is why we’re thrilled this new Hub will provide food to New Yorkers in low-income communities, create new jobs, all while supporting regional farmers. We look forward to working with the State, Elected Officials and GrowNYC, to bring this vision to life.” “We are tremendously grateful to and thankful for State and City leaders, and all supporters of this project, who share our vision to provide access to fresh, healthy food to all New Yorkers while strengthening regional agriculture," Marcel Van Ooyen, President and CEO of GrowNYC said. "I'm so happy to see this day when we break ground on the Hub, which will not only hugely impact our ability benefit local farmers and underserved New Yorkers, but will also serve as an example of how cities throughout the United States can bring fresh farm products to their neighborhoods and, at the same time, support their local farm systems.” “Today’s groundbreaking of GrowNYC's regional food hub is a landmark moment in investing thoughtfully and strategically in our food infrastructure here in New York. The food hub will reduce the costs of bringing the goods to market, thus expanding access to affordable, healthy and fresh foods for all New Yorkers,” said Kate MacKenzie, Director of the Mayor’s Office of Food Policy.  “We're excited to work together to ensure the success of the food hub and see it as the first of many investments we should be making in food infrastructure in the City and the State.” "I am very excited to see the groundbreaking for the Regional Food Hub of GrowNYC. New York City is one of the richest cities in the world yet so many New Yorkers are going through the day hungry.  Access to adequate, nutritious food is a human right yet food insecurity has been a major problem in our city for years. Eradicating hunger has to remain our top priority. The Council will continue working with groups like GrowNYC to expand access to fresh, healthy food to all New Yorkers,” said City Council Speaker Corey Johnson. “Prior to the pandemic, many Bronx residents suffered from food insecurity. COVID-19 has exacerbated this and has shown its impact will be felt for a long time,” said Borough President Ruben Diaz Jr. “I am proud to have allocated $600,000 towards the New York State Regional Food Hub, which will benefit local farmers, create true living wage jobs and aid in providing access to healthy food for for our most vulnerable communities during this global crisis and for years to come." “The pandemic has exacerbated hunger and food insecurity for Bronx families who were experiencing these issues well before the pandemic. Families are more likely to go hungry now than ever before, and the lack of access to nutritious foods worsens health outcomes for the borough. This Food Hub has the potential to improve the Bronx’s ability to deliver farm-to-table foods, residents’ access to fresh produce, and ultimately better health results. I look forward to a strong partnership with the Food Hub and its impact on the Bronx and NYC food supply system,” said Congressman Ritchie Torres (NY-15). “Before the pandemic, New Yorkers were experiencing food insecurities and unstable access to fresh, healthy food items at levels unlike any other in the country,” stated Council Member Rafael Salamanca (17th Council District, The Bronx). “COVID-19 exacerbated these inequities, leaving supermarket shelves in my district and many others bare of any fruit, produce or vegetables. As a former health care administrator, I’ve used my platform in the Council to close the food gap, partnering with bodegas to place healthy food options near cash registers, being the leading sponsor of the Health Bucks Program in the City Council, and allocating capital money to projects like Grow NYC’s new regional food hub ($1.45 million in FY20). With this facility in the South Bronx, the most vulnerable New Yorkers in the borough will have access to the freshest and healthiest food items via GrowNYC’s partners in the farming industry. I applaud GrowNYC’s continued commitment to expanding access to healthy food options, especially during the pandemic, and look forward to working with them in my district and beyond to promote a healthier lifestyle in New York City.” “Bank of America is committed to advancing economic mobility by supporting organizations like GrowNYC that increase access to resources and improve quality of life,” said Anne Walker, New York City president for Bank of America. “As we move forward and address the impacts of the coronavirus, including increased hunger, it’s vital to have innovative projects like The Hub underway to help empower vulnerable New Yorkers and transform communities.” “Sun Club grants allow Green Mountain Energy to advance our mission of changing the way power is made while supporting nonprofit organizations that are vital for the wellbeing of the community,” said Mark Parsons, vice president and general manager of Green Mountain. “We are excited to support Grow NYC with a $150,000 sustainability grant to implement a waste recycling system and install an express electric vehicle charging station. We want to congratulate Grow NYC for breaking ground on the New York State Regional Food Hub and applaud their continued efforts to mitigate food insecurity.” “The New York State Regional Food Hub will be critical to feeding Bronx communities in need and providing New Markets Tax Credit equity has been key to the development of this 60,000 sq. ft. distribution facility,” said Courtney Nolan, Vice Present, New Markets Tax Credit Group, Chase. “We’re proud to support GrowNYC in their efforts of building a food safety net and giving fresh food access to local low-income communities.” “Farm Credit is pleased to be a part of GrowNYC’s efforts to develop the New York State Regional Food Hub,” said Mike Reynolds, Farm Credit East CEO. “GrowNYC’s Greenmarkets and wholesale division are already important market channels for many Farm Credit East members. The regional food hub has great potential to assist even more of the region’s growers in gaining access to the New York City market while also improving access to fresh, healthy food for underserved populations.” “The disproportionate impact of the pandemic on low income communities of color has made more clear than ever the importance of equitable health infrastructure, including access to fresh and healthy food for every New Yorker,” said Kirsten Shaw, Director of the Northeast and Mid-Atlantic Regions at the Low Income Investment Fund (LIIF).  “GrowNYC has built a strong and creative set of programs to engage community partners and expand fresh food access in underserved neighborhoods.  LIIF is proud to provide a loan to help GrowNYC build on that success and use the New Markets Tax Credit to develop the New York State Regional Food Hub.  The Food Hub will strengthen our city’s food security for the long-term by supporting regional farmers and increasing fresh food access for vulnerable communities, providing a unique model for cities across the country.  LIIF congratulates GrowNYC as well as local leaders and the City and State of New York for their visionary support of this project.” "Expanding access to fresh, regionally-sourced food, especially for nutritionally vulnerable, low-income people, is more critical now than ever," said Katia Izyumova, Director of Lending, Enterprise Community Loan Fund (Enterprise). "Enterprise is proud to celebrate alongside GrowNYC the groundbreaking of a project that promises to deliver tangible impact to New York’s residents and farmers." About GrowNYC  GrowNYC is a 501c(3) nonprofit organization whose mission is to improve New York City's quality of life through environmental and food access programs that transform communities block by block and empower all New Yorkers to secure a clean and healthy environment for future generations. Reaching millions on New Yorkers every year, GrowNYC operates Greenmarkets, Fresh Food Box sites, and Farmstands; engages New Yorkers in zero waste education; builds and maintains green spaces; and engages people of all ages in hands-on education. About NYCEDC New York City Economic Development Corporation creates shared prosperity across New York City’s five boroughs by strengthening neighborhoods and creating good jobs. NYCEDC works with and for communities to provide them with the resources they need to thrive, and we invest in projects that increase sustainability, support job growth, develop talent, and spark innovation to strengthen the City’s competitive advantage. To learn more about our work and initiatives, please visit us on Facebook, Twitter, or Instagram. About Empire State Development     Empire State Development (ESD) 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 Governor Cuomo’s 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, please visit regionalcouncils.ny.gov and esd.ny.gov.     Contact: Catherine Crawford, (718) 809-1603 | [email protected] Shavone Williams, (646) 770-4159 | [email protected] Matthew Gorton, (800) 260-7313 | [email protected]
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Board Meeting

Tuesday, March 23, 2021 - 3:00pm
Due to public health concerns and as authorized by Executive Order of the Governor, this meeting will be conducted via video conference and teleconference. The public may view and listen to the meeting via webcast by clicking the link below. Members of the public may submit comments on the Agenda items in writing to [email protected] by 4:30 pm on Monday, March 22, 2021.
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Board Meeting

Tuesday, March 23, 2021 - 1:00pm
Due to public health concerns and as authorized by Executive Order of the Governor, this meeting will be conducted via teleconference. The public may listen to the meeting via webcast by clicking the link below. Members of the public may submit comments on the Agenda items in writing to [email protected] by 4:30 pm on Monday, March 22, 2021.
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Board Meeting

Tuesday, March 23, 2021 - 11:00am
Due to public health concerns and as authorized by Executive Order of the Governor, this meeting will be conducted via teleconference. The public may listen to the meeting via webcast by clicking the link below. Members of the public may submit comments on the Agenda items in writing to [email protected] by 5:30 pm on Monday, March 22, 2021.
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Press Release

Tuesday, March 23, 2021 - 10:42am
Electronic Contract Manufacturer Constructing 55,000 Square-Foot Production Facility: Growth Will Create and Retain More Than 40 Jobs Investment Complements “Finger Lakes Forward” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy Empire State Development (ESD) today announced electronics contract manufacturer Pace Electronics, having outgrown its current space, will expand its operations in the Town of Williamson, Wayne County and construct a new 55,000 square-foot facility. The expansion will allow the company to create 15 new jobs; 28 jobs will be retained. ESD is assisting the project with up to $250,000 in Excelsior Tax Credits. The total project cost was placed $4 million. Pace has teamed with regional commercial General Contractor, Taylor – The Builders, for design and construction of the expansion. Estimated completion of the project is slated for the 4th Quarter of 2021. The Wayne County Industrial Development Agency and Greater Rochester Enterprise are also assisting with the project. Empire State Development Acting Commissioner and President & CEO-designate Eric Gertler said, “While Pace Electronics has a global reach, this successful company decided to expand in the Finger Lakes based on the region’s top-tier tech and manufacturing talent. The Wayne County project will create new, high-quality jobs that further support New York State’s commitment to growing both the regional and state economy.”  Founded in 1969, Pace Electronics works with clients in the medical, industrial controls, automotive, and emergency lighting and safety product industries worldwide. In addition to the Wayne County location, the company, which sources electronic components from the pacific rim, maintains manufacturing facilities in China and Malaysia, a liaison office in Hong Kong and an additional warehouse facility located in San Diego, California.  Pace Electronics has been named to the Fortune 500 list of the100 Best Workplaces for Women. Women in fact represent half of the company’s workforce, while 67% percent of company executives are women. Dawn Smith has served as Pace Electronics’ Chief Executive Officer since 2012. Pace Electronics CEO Dawn Smith said, “While we searched several areas to relocate, the decision to stay in Wayne County was driven by our dedicated long-term employees and the local work force talent. Year over year growth from adding new capabilities and product offerings and most recently the acquisition of Peter Parts Electronics, we have outgrown our current facility and had to lease additional warehousing space. The new constructed headquarters will allow us the ability to advance our state-side manufacturing capabilities, warehouse all our products in one facility and give us the space required to increase our workforce.” State Senator Pamela Helming said, “Pace Electronics is a leading high-tech manufacturer in the Finger Lakes region whose growth highlights the incredible innovation and talent we have in the 54th District. My congratulations and thanks to CEO Dawn Smith and the entire Pace Electronics team for their continued investment in Wayne County. Thank you to Empire State Development, the Wayne County IDA and all those who have assisted with this project. We must do all we can to support the growth and success of our small business job creators.” State Assemblyman Brian Manktelow said, “It is encouraging to see a business such as Pace Electronics choosing to expand in our community. I thank Empire State Development for making the investment into Pace Electronics and will continue our mission to move the Finger Lakes forward into tomorrow. The mere fact that they are a growing business, and choosing to build and expand in our community, retaining their workforce and adding an additional 15 jobs is truly exciting. This news could not come at a better time. As we move into warm days, and our State is reopening amidst the pandemic, Pace Electronics helps shine a beacon of light and hope for the days to come.” Williamson Town Supervisor Anthony Verno said, “The town is grateful that Pace has decided to expand in Williamson. I want to thank Pace Electronics and all the employees that were instrumental in making this happen.” Wayne County Industrial Development Agency Director Brian Pincelli said, “Pace Electronics dedication to their employees and continued growth in Wayne County is a testament to their leadership and the quality of workforce we have in the County. We’re proud to be the home of their corporate headquarters and we were happy to be able to support their continued growth and success.” Matt Hurlbutt, president and CEO, Greater Rochester Enterprise said, “Pace Electronics chose to invest in Rochester, NY’s Wayne County, to capitalize on our region’s exceptional talent in the electronic contract manufacturing industry and the perfect facility to support their expansion plans.” For additional information about Pace Electronics, visit https://www.paceelectronics.com/ 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 $8.07 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. 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 | [email protected] | (585) 399-7055 Press Office | [email protected] | (800) 260-7313
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Press Release

Monday, March 22, 2021 - 6:04pm
Project with U.S. Army Corps of Engineers will improve Slip 3 See renderings here The Erie Canal Harbor Development Corporation (ECHDC) Board of Directors met today and authorized ECHDC to enter into a project partnership with the U.S. Department of the Army/U.S. Army Corps of Engineers (USACE) for architectural and engineering design services at Slip No. 3 on Buffalo’s Outer Harbor.  The project will help to renew elements of the harbor’s aquatic ecosystem crucial to plant and animal life that have been lost or degraded in the region and help protect the area from future storm damage. Slip 3, located between Wilkeson Pointe and the Michigan Pier, was originally constructed to facilitate commercial shipping related to industrial manufacturing, although it is no longer used for that purpose. “As a city on the water, it is imperative that we restore and protect a healthy aquatic ecosystem,” said ECHDC Chairman Robert Gioia.  “On Buffalo’s Outer Harbor, we are proud to partner with the Army Corps of Engineers on a project that will provide for a more productive, self-sustaining wetland and aquatic community for water-dependent wildlife.” The project will include: Construction of an angled rubble mound breakwater structure with a weir opening at the mouth of Slip No. 3 to contain placed dredged material and reduce the impact of waves from the adjacent Buffalo Outer Harbor. Placement of approximately 285,000 cubic yards of dredged material within Slip No. 3 to raise the existing bottom contours to a range of -2 feet Low Water Datum (LWD) to +3.5 feet LWD.  Dredge cycles of the Buffalo River occur every two years, with the first scheduled in 2023. Installation of habitat features to include gravel beds, rock piles, root wads, logs, and the preservation of existing used dock piles to provide maximum habitat complexity and structure to encourage the use of Slip No. 3 as spawning/nursing habitat by multiple fish species. Planting of native species of submerged and emergent aquatic vegetation that have the ability to compete with invasive species and provide high quality aquatic habitat for both aquatic species and migratory/resident bird species. As a non-federal sponsor, ECHDC is required to provide not less than 35% of the total project budget.  The ECHDC Board action today approved ECHDC’s portion of the project’s design costs in an amount not to exceed $451,150.  Further action will be needed by the ECHDC Board to approve ECHDC’s portion of the construction costs once a final design and a construction budget are determined.  Based on the current USACE construction budget, the ECHDC total commitment over the course of the Project will be $4,972,000 over a 12-year period.  The funding is from the New York Power Authority, through relicensing agreements tied to the operation of the Niagara Power Project. The ECHDC Board also approved the corporation’s $1,297,489 operating and $64,999,606 capital budgets for fiscal year 2021-2022.  The capital budget includes but is not limited to: acquisition costs; design costs of several Canalside and Outer Harbor capital projects; legal costs; property management and maintenance costs; certain construction costs, including Outer Harbor Phase 1 projects; and ECHDC’s funding contribution to Heritage Point and the North Aud Block.  About Erie Canal Harbor Development Corporation The ECHDC is governed by a nine-member board consisting of seven voting directors and two non-voting, ex-officio directors. The seven voting directors are recommended by the New York State Governor and are appointed by the New York State Urban Development Corporation d/b/a Empire State Development as sole shareholder of ECHDC. The two nonvoting, ex-officio director positions are held by the Erie County Executive and the City of Buffalo Mayor. As a subsidiary of Empire State Development, the state’s chief economic development agency, the Erie Canal Harbor Development Corporation supports and promotes the creation of infrastructure and public activities at Canalside, the Ohio Street corridor and the Outer Harbor that is attracting critical mass, private investment and enhance the enjoyment of the waterfront for residents and tourists in Western New York. Its vision is to revitalize Western New York’s waterfront and restore economic growth to Buffalo based on the region’s legacy of pride, urban significance and natural beauty. For more information on ECHDC, visit here.  Contact: Pamm Lent (Governor’s Office) | [email protected] | (716) 846-8309 Laura Magee (ECHDC) | [email protected] | (716) 846-8239
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Press Release

Monday, March 22, 2021 - 5:58pm
See renderings of the Montante project here The USA Niagara Development Corporation (USAN) Board of Directors met today and approved two General Project Plans (GPP) and the transfer of land in support of private development in downtown Niagara Falls, N.Y.  The land transfers, to Montante Group LLC and SJI Main LLC, involve land previously purchased by USAN through the Buffalo Billion Niagara Falls Strategic Land Acquisition Program.  The projects are part of the continued transformation of the Third Street Business District as a pedestrian and tourist friendly neighborhood with commercial, retail and residential development. “With these two projects, USAN is supporting facilitating the growth in the residential market and revitalization of the tourism industry in downtown Niagara Falls,” said USAN Chairwoman Francine Delmonte. “These long-dormant properties will see new life that will add to the character and vibrancy of the Third Street Business District.” “The continued commitment of USAN to the development of the Third Street Business Corridor is critical to improvement of our tourist district,” said City of Niagara Falls Mayor Robert Restaino.  “With these transfers, USAN has placed properties important to the district’s growth into the hand of developers committed to investing in our community.” The Montante Group project will restore/rehabilitate commercial buildings located at 500 and 512 Third Street, as well as an adjacent vacant lot at 518 Third Street (Property I) and an adjacent parking lot at 503 Main Street (Property II).  The project will result in two vibrant, mixed-use commercial developments and are critical for the continued development of the Third Street Business District.  The 500 Third Street site would contain ground floor space suitable for retail/restaurant use as well as commercial space above.  The 512 Third Street site would contain retail/restaurant space and use of adjacent outdoor areas.  The two properties would be connected through a finished outdoor seating area, which could be utilized by onsite tenants or for special events.  Montante Group intends to complete the estimated $4.25 million project in two separate phases: construction of either the 500 Third Street or 512 Third Street property, followed by construction of the remaining property not chosen during Phase 1. The USAN Board of Directors previously named TM Montante Development the preferred developer in January 2020. The GPP approval and land transfer of vacant lots at 554 and 558 Third Street to SJI Main will support the rehabilitation and renovation of three structures (two mixed-use and one commercial), for new retail and residential development.  SJI’s acquisition is vital to the current development of the Third Street Business District, adding value in the creation of new jobs and new residential opportunities.  Phase I of the project will consist of the creation of 36 residential apartments and six commercial spaces.  SJI’s total investment for Phase I is expected be approximately $3.7 million.  The inclusion of the adjacent USAN-owned property will enhance the viability of SJI’s development by allowing for additional parking, while also serving as a buildable site for a potential second phase of SJI’s investment.  The properties being transferred are part of the strategic land acquisition program funded through the second phase of Governor Andrew M. Cuomo’s Buffalo Billion Economic Development Initiative.  The program’s goals include purchasing long-dormant properties located near Niagara Falls State Park, removing blight from the downtown area and expanding the density of uses to help establish a year-round, sustainable neighborhood. The USAN Board of Directors also approved two other items: Approval of the USAN Fiscal Year 2021-22 Annual Operating and Capital Budgets.  The FY 2021-22 Operating Budget of $703,655 proposes a total of $580,105 in personal services and a total of $123,550 in non-personal services.  The Corporation’s FY 2021-22 Capital Budget is $24,114,760.  It is anticipated that the proposed funding will cover costs related to the Hotel Niagara restoration; the close-out of the Wyndham Garden Inn Hotel Project; the completion of the Cataract Commons Project; maintenance and site preparation expenses associated with properties secured through USAN’s Downtown Land Acquisition Program; as well as the costs of design support services for the Rainbow Mall Civic Improvement Project.  Individual project expenses will be approved by the Directors under separate actions. Approval of the $991,535 Niagara Falls Convention and Conference Facility and Old Falls Street 2021 operating budget.  About USA Niagara Development Corporation USAN, a subsidiary of Empire State Development Corporation, is solely dedicated to the support and promotion of economic development initiatives in Niagara Falls by leveraging private investment and encouraging growth and renewal of the tourism industry in the City of Niagara Falls.  For more information, visit https://esd.ny.gov/usa-niagara-development-corporation-6. Contact: Pamm Lent | [email protected] | (716) 846-8309 | (800) 260-7313 Laura Magee | [email protected] | (716) 846-8239 | (800) 260-7313
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Board Meeting

Monday, March 22, 2021 - 11:30am
Due to public health concerns and as authorized by Executive Order of the Governor, this meeting will be conducted via teleconference. The public may listen to the meeting via webcast by clicking the link below. Members of the public may submit comments on the Agenda items in writing to [email protected] by 4:30 pm on Friday, March 19, 2021.
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Board Meeting

Monday, March 22, 2021 - 11:00am
Due to public health concerns and as authorized by Executive Order of the Governor, this meeting will be conducted via teleconference. The public may listen to the meeting via webcast by clicking the link below. Members of the public may submit comments on Agenda items in writing to [email protected] by 5:00 p.m. on Friday, March 19.
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