Empire State Development news and press releases

The Empire State Jobs Retention Program was created to provide financial incentives to retain strategic businesses and jobs that are at risk of leaving the state due to the impact on business operations from a natural disaster. Below please find charts A & B of the quarterly program report detailing businesses admitted to the program and credits issued for the fourth quarter, ending 12/31/2019. Empire State Jobs Retention Program Quarterly Report - Chart A: Businesses Admitted To Program Empire State Jobs Retention Program Quarterly Report- Chart B: Credits Issued

This project will establish a co-working space, coffee shop, food hall, brewery, fresh foods market, teaching kitchen, & event space, with apartments on the upper floors Empire State Development (ESD) today announced the groundbreaking for The Academy in Poughkeepsie, Dutchess County. Located on Academy Street in the heart of the city's central business district. The Academy will house apartments, co-working space and commercial space to further the city and the region as a place to live, work and play that encourages young adults to establish roots in the community. ESD Acting Commissioner, and President and CEO-delegate Eric Gertler said, "New York State is committed to moving forward on projects that strengthen communities and support local economic development.  The Academy, with its modern mixed-use space and amenities for home owners and entrepreneurs alike, is a great example of how we are investing in the vibrancy of our state’s regions and city centers to build back better, smarter and more strategically.”  Baxter Building Corporation, the developers for this project, are investing more than $13 million to renovate the formerly underutilized commercial spaces at 31-35 Academy Street in the city’s central business district. This mixed-use development is uniquely positioned to be a vibrant hub of activity for the downtown neighborhood and the community. Featuring 28 apartment units, a grocery, food hall, restaurant, brewery, co-working and event space all under one roof, The Academy will serve as a cultural catalyst where the best of Hudson Valley products and produce will be newly accessible, attracting locals and visitors from attractions such as the nearby Walkway Over the Hudson. The co-working space will invite and house numerous small businesses, independent professionals, and entrepreneurs to help catalyze economic growth. The developers have committed to the creation of 65 new jobs as part of this project and construction is expected to be completed Summer 2021. Amanda Baxter, President of Baxter Building Corporation and owner of The Academy said, “The Academy goes far beyond just the food. The co-working space will pave the way for collaboration and growth for the region’s local and emerging businesses. Its affordable apartments will provide feasible rental options for our community, while the event space will host a plethora of community focused activities for the neighbors to partake in. “The Academy” will be a welcoming establishment, cultivating a place to create, to relish, and to gather.” Eric Baxter, Vice President of Baxter Building Corporation and owner of The Academy said, “The mixed-use development is uniquely positioned to be a vibrant hub of activity for the downtown neighborhood and the community. Featuring 28 affordable apartment units, a grocery, food hall, restaurant, brewery, co-working and event space all under one roof, The Academy will serve as a cultural catalyst where the best of Hudson Valley products and produce will be newly accessible and always enjoyable.” This project was identified as a priority project by the Mid-Hudson Regional Economic Development Council during Round VIII of the Regional Council process. Empire State Development has agreed to provide a capital grant of up to $1.1 million to support and encourage this key, lifestyle development project and the addition of 65 new jobs in Poughkeepsie. Mid-Hudson Regional Economic Development Council co-chair and SUNY New Paltz President Dr. Donald P. Christian said, "The Academy project showcases the best of what the Mid-Hudson has to offer in a place where people can live, work and learn. This project will energize Poughkeepsie’s business district and add to the city’s appeal for newcomers and residents alike.” State Senator Sue Serino said, “In a year that has been defined by challenges, this groundbreaking is a tremendous positive for our community. As we work to rebuild in the wake of the pandemic, it’s smart investments into projects like this that we know will create jobs and play a direct role in moving the City forward. Congratulations to everyone who worked tirelessly to make it happen and we cannot wait to see the Academy project get underway!” Dutchess County Executive Marc Molinaro said, “We look forward to the long-dormant corner of Academy Street again bustling with activity – providing local residents and visitors new housing, dining, work and entertainment options, continuing the City of Poughkeepsie’s renaissance. We thank Empire State Development for its support of this project, which reaffirms Dutchess County remains a robust community in which to live, work and raise a family, and we look forward to similar collaborations that provide employment opportunities while enhancing the quality of life for County residents.” “We are excited about this project, especially since it will create a unique community hub in the city,” said City of Poughkeepsie Mayor Rob Rolison. “Our goal is to have more people working and living in the city, and this development will help transform our central business district and build on some other excellent endeavors being undertaken to bring more vitality to that area. We are grateful for the investment the developers are making in this project, for the jobs that it will create, and for the state grant that also is a key component to bring this to fruition.” 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 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