Empire State Development news and press releases
See all the official press releases from Empire State Development.
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Public Notice
Friday, February 15, 2019 - 10:50am
Village of Owego-Gateway Capital RESTORE IV Project
Board Meeting
Thursday, February 14, 2019 - 10:00am
With videoconferencing to:
Empire State Development – Buffalo Regional Office
95 Perry Street
Suite 500
Buffalo, NY 14203
Empire State Development – Albany Office
Conference Room 812
625 Broadway
Albany, NY 12245
Public Notice
Wednesday, February 13, 2019 - 3:30pm
Pall Corporation Capital Project
Public Notice
Wednesday, February 13, 2019 - 3:00pm
The National Veterans Resource Complex Capital I Project
Board Meeting
Wednesday, February 13, 2019 - 3:00pm
Success Story
Tuesday, February 12, 2019 - 3:39pm
Most people don’t spend much time thinking about the safety of the water they use every day. It’s there when it’s needed, clean and clear and coming out of a nearby tap or faucet. Consider yourself one of the lucky ones.
“Water challenges are happening everywhere, and many are going to get much worse,” says Jay Iyengar, Chief Innovation and Technology Officer of Xylem, a company that helps address some of the world’s most pressing water problems.
While the quest for safe and reliable water stretches to every corner of the globe, the journey often begins in the leafy village of Rye Brook, NY. It is there where the scientists and researchers at Xylem — the name is derived from the tissue in vascular plants which transports water and nutrients from the roots to the stems and leaves — use a combination of cutting-edge technology and advanced data analytics to enable more efficient, resilient, and sustainable water and wastewater management.
Xylem benefits immensely from its locale, which affords access to an incredible talent base of scientists and researchers from leading companies and academic institutions both within the New York metropolitan area as well as the larger Northeast corridor.
Press Release
Tuesday, February 12, 2019 - 3:12pm
Governor Andrew M. Cuomo today announced the $45.9 million Innovate NY venture capital fund has been fully invested. Since the fund's launch in 2012, 81 companies have received more than $370 million in investment capital, leading to the creation or retention of 2,250 jobs. A majority of investments were made in companies located upstate. The Innovate NY fund is managed by New York Ventures, the venture capital investment arm of Empire State Development, and supports the state's entrepreneurial culture of new and innovative startups.
"New York's strategic investments in the next generation of innovative startup companies have fostered growth in our thriving tech industry while supporting thousands of jobs across the state," Governor Cuomo said. "This administration has already made great strides to support these seed-stage businesses, and we look forward to seeing these companies continue to make significant contributions to our economy and help build a brighter future for New York."
"Since 2012, Innovate NY has invested in companies resulting in thousands of jobs, a majority of them in upstate New York," said Lieutenant Governor Kathy Hochul. "We're committed to supporting innovative businesses to ensure their expansion and success. Initiatives such as Innovate NY are growing the high-tech industry and advancing New York's economy."
Innovate NY operates through a "fund-of-funds" structure in which third-party investment managers are competitively selected to manage the investment activity on a statewide basis. ESD selected seven venture capital funds to invest in seed-stage, startup companies, which usually have not yet established commercial operations, throughout the state. Innovate NY invests in these seed-stage businesses to support innovation, job creation and high-growth entrepreneurship throughout New York. Investments can be used to continue research and development, develop and test products, market research or build management teams. The fund required a ratio of 2:1 private-public investment.
Read the full press release here.
Public Notice
Tuesday, February 12, 2019 - 10:00am
Utica Zoo Primate Building Capital Project