The New York Empowerment Zone Corporation (NYEZC) today announced the development of Bronx Kreate Space, which will renovate existing manufacturing space in the South Bronx to create 100 individual and shared studio spaces, a total of over 21,000 square feet. The Mott Haven space will be available for mostly Bronx-based artists. NYEZC approved a $350,000 loan from the Bronx Overall Economic Development Corporation (BOEDC) that will complement an added $595,000 in investment Bronx Kreate received through the Downtown Revitalization Initiative (DRI). New York City has one of the highest concentrations of artists and makers in the United States, and the number of artists in Mott Haven has nearly doubled since 2000. NYEZC is a subsidiary of Empire State Development (ESD). Empire State Development President, CEO and Commissioner Howard Zemsky said, “New York City’s thriving arts scene is only possible if artists and makers have access to affordable space, and this loan to Bronx Kreate will enable more of them to prosper while contributing to the economic growth of the South Bronx.” The building’s first floor will host a cafe and gallery space. Studio spaces, common areas and kitchens will take up the remaining three floors. 14,910 square feet of space will be available for rent. The space will be marketed to artists and makers once the renovation is completed this Fall. Bronx Kreate Space CEO Dan Herdoon said, “The Bronx has always been the home of artistic talent—from hip hop to graffiti and salsa dancing. Bronx Kreate Space is now rekindling the creative spirit and giving the South Bronx a permanent hub to work, connect and create.” The DRI investment was announced as part of a $10 million investment in the South Bronx in July 2018. The New York Empowerment Zone is one of nine empowerment zones (EZs) established by the federal government in 1994 to revitalize distressed communities by using public funds and tax incentives as catalysts for private investment. New and existing businesses located in or expanding to the South Bronx or Upper Manhattan can qualify for a variety of federal, state and city incentives, including direct loans and grants and other tax incentives. Senator José M. Serrano said, "As Chair of the Senate Committee on Cultural Affairs, I understand that an investment in the arts is an investment in economic development. Communities that have experienced revitalization in recent years have always had a cultural community at the forefront, and the South Bronx is no exception. This investment ensures that as the Bronx continues to grow and evolve, the artists who have helped generate its transformation are able to continue working in the borough. Many thanks to Commissioner Zemsky and NYEZC for their commitment to creating opportunities for growth in Mott Haven." Bronx Borough President Ruben Diaz Jr. said, “The Bronx Kreate Space will be instrumental in sending the message that art is for everyone and we need to keep it alive in the Bronx. My office supports projects like this to help break down barriers of entry for local artists and the community and I am excited to see this project come to fruition. I thank KZA Realty Group and Kathy Zamenchansky for their contribution to the Bronx arts community through the development of this project and The Bronx Overall Economic Development Corp for providing a significant percentage of the funding to make this happen.” BOEDC President Marlene Cintron said, “The Bronx has a long-standing history of creativity. Doo Op, Salsa, Wall Art, Hip Hop and Rap are all art and music forms that started in this borough.  Bronx Kreate will provide our talented residents with an affordable work place where artists can ‘Kreate’, exhibit and co-inspire each other to greater heights.”  About Empire State Development Empire State Development (ESD) is New York’s chief economic development agency (www.esd.ny.gov). 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 NEW YORK,” 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: Adam Kilduff | adam.kilduff@esd.ny.gov | (212) 803-3744 ESD Press Office | pressoffice@esd.ny.gov | (800) 260-7313