Governor Hochul Announces Up-To-$200 Million "Fast NY" Grant Program to Attract Key Industries to Shovel-Ready Sites Across The State Now Accepting Letters of Intent

December 2, 2022

Program will Jump-Start New York's Shovel-Readiness and Increase the State's Attractiveness to Large Employers

Informational Webinar for Potential Applicants to be Held on December 15

Application Portal Opens December 15

Governor Kathy Hochul today announced that the new up-to-$200 million Focused Attraction of Shovel-Ready Tracts grant program to attract and expand key growth industries in New York State will now accept Letters of Intent from potential applicants. FAST-NY provides certification and grant funding to help prepare key commercial sites across New York State for development in order to attract high-tech manufacturing; interstate distribution and logistics businesses; and other large employers. Empire State Development is accepting Letters of Intent as a first step in the application process and will accept applications on a rolling basis from those who have submitted letters once the application portal opens on December 15.

"The new FAST-NY program will further establish New York's standing as a commercial hub by increasing our supply of shovel-ready sites and attracting the jobs and businesses of the future," Governor Hochul said. "With this up-to-$200 million investment, we are helping to supercharge our state's economy and draw in the key industries that bring high-growth, high-wage jobs. I encourage those interested in FAST NY to jumpstart their application by submitting a letter of intent."

Empire State Development President, CEO and Commissioner Hope Knight said, "The announced historic Micron investment in Central New York is proof positive that having a shovel ready site for companies to build on is a smart investment. As these companies look to take advantage of the federal CHIPS and Science and New York's own Green CHIPS program, New York will need additional shovel-ready sites, and FAST NY will help usher in a new era of growth." 

Read the full press release here.