Five cities that are defining New York State's innovation economy

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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Thursday, December 28, 2017 - 10:17am
The state’s I Love New York Hospitality Suite at New Era Field was secured as part of a $130 million deal for renovations to the stadium approved in 2013.  The suite helps State and local organizations with their business and community-development efforts, and provides youth and community members – who otherwise would not be able to attend a Bills game – with one of Buffalo’s most unique experiences. This report lists attendees to the suite and ensures it is put to appropriate use.
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Press Release

Wednesday, December 27, 2017 - 10:46am
Investment Complements “Finger Lakes Forward” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy Empire State Development (ESD) today announced in an effort to meet the growing demand for its medical diagnostic products worldwide, healthcare software developer VisualDx will expand its operations in the City of Rochester. The innovative company will lease an additional 5,000 square-feet of space at its current location inside the Valley Cadillac Building on East Avenue in the city’s Downtown Innovation Zone. As a result of the expansion, the company plans to create up to 21 new jobs at the location; 39 jobs will be retained as a result of the project. Empire State Development President, CEO & Commissioner Howard Zemsky said, “Companies like VisualDx are critical to the success of the Downtown Innovation Zone in Rochester and cement the Finger Lakes Region’s reputation as a national leader for high-tech innovation.” VisualDx, founded in 1999 by a team of physicians, educators, artists and computer scientists, develops software to help practitioners and consumers answer clinical questions.  Already used in over 1,700 hospitals and clinics and half of the U.S. medical schools, the clinical software allows a healthcare provider to compare diagnostic possibilities based on symptoms and signs of the patient to reduce medical errors and improve patient care. ESD funding will help propel the company to further help patients and consumers who seek answers to their own medical questions through the creation of a new A.I. health assistant powered by a machine learning application called Aysa (www.askaysa.com). The new technology will allow those with a skin condition to take a picture of their rash and in seconds get guidance on next steps. Dr. Art Papier, VisualDx CEO said, “We believe Rochester is an ideal spot for technology innovation and are proud to bring two of the city’s best assets together - imaging and healthcare – to improve medical decision-making. We appreciate the support to expand our operations and retain the local talent available.” To assist the company with its growth in downtown Rochester, ESD is providing up to $600,000 through the Excelsior Tax Credit Program. Another $100,000 will be provided through a Finger Lakes Regional Economic Development Council Grant. Finger Lakes Regional Economic Development Council Co-Chairs Monroe Community College President Anne Kress and Greater Rochester Chamber of Commerce President & CEO Bob Duffy said, “We congratulate VisualDx on its plan to expand operations inside the storied Valley Cadillac Building in downtown Rochester. It is proof positive that regional efforts, through the Finger Lakes Forward plan, are working to encourage urban development, creating jobs and breathing new life and vitality into the downtown community.” State Senator Joe Robach said, "I could not be more pleased that VisualDx has chosen to expand and will continue to call downtown home. From their commitment to patients and ensuring that medical professionals across the world have access to the technology needed to provide state of the art knowledge and imagery for fast and accurate diagnostic ability, VisualDx is helping to improve patient care and safety. I am proud that VisualDx continues to invest in the future of Rochester.” State Assembly Member Harry Bronson said, “I applaud Dr. Art Papier and the VisualDx team for their commitment to our region. Today’s announcement by the company and Governor Cuomo shows that the Rochester area is in a strong educational and economic position to create jobs for the future and provide the nation and world with cutting edge innovative health care tools.” Rochester Mayor Lovely A. Warren said, “I want to thank Dr. Art Papier and his team at VisualDx for their continued investment in Rochester and congratulate them on their successful expansion in the Downtown Innovation Zone.  The success of companies like VisualDx underscores the dramatic change taking place in Rochester as entrepreneurs continue to leverage the knowledge generated by our colleges and universities and the talents of so many young people who are eager to live in our city. I am grateful to Governor Cuomo and Empire State Development for supporting VisualDx through Finger Lakes Forward, which is helping us achieve our goals of creating more jobs, safer, more vibrant neighborhoods and better educational opportunities for our citizens.” Monroe County Executive Cheryl Dinolfo said, “I thank VisualDx for this significant investment in Downtown Rochester and the high-tech local jobs that will come along with it. “VisualDx’s success in advanced healthcare imaging will continue to support good-paying local jobs here and is a clear sign that Monroe County is open for business!” For more information about VisualDx, click here. Accelerating Finger Lakes Forward  Today’s announcement complements “Finger Lakes Forward,” the region’s comprehensive blueprint to generate robust economic growth and community development. The State has already invested more than $5.2 billion in the region since 2012 to lay the groundwork for the plan – investing in key industries including photonics, agriculture‎ and food production, and advanced manufacturing. Today, unemployment is down to the lowest levels since before the Great Recession; personal and corporate income taxes are down; and businesses are choosing places like Rochester, Batavia and Canandaigua as a destination to grow and invest in. Now, the region is accelerating Finger Lakes Forward with a $500 million State investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015. The State’s $500 million investment will incentivize private business to invest well over $2.5 billion – and the region’s plan, as submitted, projects up to 8,200 new jobs. More information is available here. ​ Contact: Shari Voorhees-Vincent | Shari.Voorhees-Vincent@esd.ny.gov | (585) 399-7055 Press Office | pressoffice@esd.ny.gov | (800) 260-7313
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Report

Friday, December 22, 2017 - 2:30pm
This report details the performance of ESD' s economic development activities related to job growth and retention on an annual basis. The report shows the amount of financial assistance, the level of job commitment and whether each company met those goals. It also offers a window into how different regions and industries are faring each year. Annual Report on Jobs Created and Retained – 2016
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Board Meeting

Thursday, December 21, 2017 - 9:30am
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Press Release

Wednesday, December 20, 2017 - 4:41pm
Governor Andrew M. Cuomo today unveiled the 10th proposal of his 2018 State of the State: Bringing the New York Islanders home to Long Island with a world-class, year-round sports and entertainment destination at Belmont Park. At an event at Belmont Park Race Track, the Governor announced the selection of New York Arena Partners, a joint venture among Sterling Equities, the Scott Malkin Group, Madison Square Garden and the Oak View Group, to lead a transformational $1 billion redevelopment of Belmont Park into an internationally recognized mixed-use destination for sports, entertainment, retail and hospitality.  The winning project features an 18,000-seat arena for the New York Islanders, a new 435,000-square-foot retail and entertainment complex, a new hotel, and other community amenities. The $1 billion transformational plan to redevelop Belmont Park will strengthen the local economy, boost tourism, increase visitor spending and stimulate local businesses. To accommodate New Yorkers and visitors traveling to the brand-new facility, the Long Island Railroad is committed to developing a plan to expand LIRR service to Belmont Park Station for events year-round. The state-of-the-art project is expected to create 12,300 construction jobs and 3,100 permanent jobs. Read the full press release here. 
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Public Notice

Tuesday, December 19, 2017 - 12:00pm
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Public Notice

Friday, December 15, 2017 - 2:00pm
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Public Notice

Friday, December 15, 2017 - 2:00pm
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Press Release

Friday, December 15, 2017 - 12:57pm
Governor Andrew M. Cuomo today announced that Strategic Financial Solutions, LLC, a leading financial services firm headquartered in New York City, has officially opened a new 60,000 square-foot contact center in Amherst. The company plans to hire more than 1,500 client servicing, negotiations, and financial consultant positions over the next five years.  Strategic Financial Solutions provides debt relief solutions for people in challenging financial situations. "This company considered several locations for its expansion but chose Western New York because they wanted to be a part of a region that is on the move," Governor Cuomo said. "This region is attracting businesses from near and far to grow and develop their companies here in Western New York and with the expansion of Strategic Financial Solutions in Amherst, that momentum continues." Read the full press release here. 
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Public Notice

Friday, December 15, 2017 - 10:50am
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