Empire State Development news and press releases

See all the official press releases from Empire State Development.

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Board Meeting

Wednesday, January 27, 2021 - 9:30am
Due to public health concerns and as authorized by Executive Order of the Governor, this meeting will be conducted via video conference and teleconference. The public may view and listen to the meeting via webcast by clicking the link below. Members of the public may submit comments on the Agenda items in writing to [email protected] by 4:30 pm on Tuesday, January 26, 2021.
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Press Release

Tuesday, January 26, 2021 - 12:42pm
New York Remains Preeminent Hub for Business Growth and Corporate Expansion  Empire State Development today announced that Beam Suntory, a world leader in premium spirits, including Jim Beam and Maker’s Mark Bourbon brands, Courvoisier cognac and Suntory Whisky, will relocate its global headquarters from Chicago, IL to 11 Madison Avenue in Manhattan, bringing 150 jobs to New York City over the next five years.    Empire State Development Acting Commissioner and President & CEO-Designate Eric Gertler said, “Beam Suntory joins a long list of iconic brands and businesses that know there is no better place to be than here in the Empire State. Under Governor Cuomo’s leadership, New York is investing in its talented and diverse workforce, has the most ambitious infrastructure plan in the nation, and is creating the economy of tomorrow. Beam Suntory knows that even though we currently face many challenges due to the COVID-19 crisis, the future remains bright in New York and I am pleased that they have decided to be part of New York State as we build back better"  “As one of the world’s greatest global cities, New York provides a unique environment to help us accelerate our premiumization strategy and growth ambitions. We see excellent opportunities to immerse our company and global brand building efforts more deeply in New York’s vibrant restaurant, bar and consumer environment,” said Albert Baladi, President & CEO of Beam Suntory. “This move will put us at the forefront of the recovery in New York City, and will enable us to emerge from the current crisis squarely focused on the long term.”   In support of the relocation of the Beam Suntory corporate headquarters to New York City, Empire State Development has agreed to provide $9.9 million in performance-based Excelsior Jobs Program tax credits over the next ten years, which are directly tied to the company’s job creation commitments.    New York is home to more Fortune 500 companies than any other state in the nation, including American Express, IBM, Pepsi Co and Pfizer. Beam Suntory joins other businesses that have had corporate expansions in the past year in New York State including Plug Power, who recently announced their new gigafactory in Monroe County.   Assemblymember Richard Gottfried said, “It’s great news that Beam Suntory is joining other major businesses that choose to locate their global headquarters in the Flatiron District.  But it’s not a surprise, because the heart of Manhattan remains a great place to work, live, shop, or dine.  I welcome Beam Suntory to the historic Metropolitan Life North building, which celebrated the twenty-fifth anniversary of its designation on the National Register of Historic Places exactly a week ago today,”  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.     About Beam Suntory   As a world leader in premium spirits, Beam Suntory inspires human connections. Consumers from all corners of the globe call for the company’s brands, including the iconic Jim Beam and Maker’s Mark bourbon brands, Suntory whisky Kakubin and Courvoisier cognac, as well as world renowned premium brands including Knob Creek, Basil Hayden’s and Legent bourbon; Yamazaki, Hakushu, Hibiki and Toki Japanese whisky; Teacher’s, Laphroaig and Bowmore Scotch whisky; Canadian Club whisky; Hornitos and Sauza tequila; EFFEN, Haku and Pinnacle vodka; Sipsmith and Roku gin; and On The Rocks Premium Cocktails.     Beam Suntory was created in 2014 by combining the world leader in bourbon and the pioneer in Japanese whisky to form a new company with a deep heritage, passion for quality, innovative spirit and vision of Growing for Good. Headquartered in Chicago, Illinois, Beam Suntory is a subsidiary of Suntory Holdings Limited of Japan. For more information on Beam Suntory, its brands, and its commitment to social responsibility, please visit www.beamsuntory.com and www.drinksmart.com.   Contact: Kristin Devoe | [email protected] | (518) 414-1087 ESD Press Office | [email protected] | (800) 260-7313  
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Press Release

Tuesday, January 26, 2021 - 12:31pm
Economic Development Incentives by ESD Allow Pine Pharmaceuticals to Create 40 New Full-Time Jobs and Maintain 85 Current Employees Governor Andrew M. Cuomo today announced the expansion of Pine Pharmaceuticals LLC's manufacturing plant in the Town of Tonawanda. The drug outsourcing company - which moved to the 25,000-square-foot building at 355 Riverwalk Parkway in the Riverview Solar Technology Park in May of 2018 - will be tripling the size of the facility, due to its tremendous growth in the past two years, which has seen the company double its employment. The company is investing $8.6 million for a 50,000-square-foot addition to the existing state-of-the-art facility which will allow it to hire 40 new full-time permanent employees and retain 85 existing full-time permanent employees.  Pine Pharmaceuticals is receiving $650,000 in refundable tax credits from the state's Excelsior Jobs Program. "If COVID-19 has taught us anything, it's that we need to stop relying on foreign distributors and increase production of critical medical supplies and resources, including pharmaceuticals, right here in the United States," Governor Cuomo said. "As we work to build back better, our strategic incentives will allow Pine Pharmaceuticals to once again expand its operations in Western New York, where a thriving advanced manufacturing economy has been creating quality jobs and uplifting communities for years now as a result of New York's ongoing investments in the region."  Pine Pharmaceuticals provides pharmaceutical compounding, including specialized sterile formulations serving ophthalmologists, retinal specialists, hospitals, ambulatory surgery centers, medical practices and clinics. The sterile compounded preparations are made to order and formulated using cutting-edge technology and industry-leading quality assurance practices. Also, as an FDA-registered 503B outsourcing facility, Pine Pharmaceuticals has the unique ability to address drug shortages by working with hospitals, clinics, medical practices and physician offices to provide sterile compounded pharmaceuticals. The firm also benefits from a 136-kilowatt low-cost power allocation from the New York Power Authority's ReCharge NY program as part of its commitment to retain jobs and invest capital. ReCharge NY, launched by the Governor in 2011, offers up to seven-year power contracts. Half of the power—455 megawatts—is from NYPA's Niagara and St. Lawrence-Franklin D. Roosevelt hydroelectric power plants, which provide some of the greenest, cleanest and lowest-cost electricity in the state. The remaining 455 megawatts is lower-cost power bought by NYPA on the wholesale market. Read the full press release here.
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Public Notice

Monday, January 25, 2021 - 5:30pm
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Public Notice

Monday, January 25, 2021 - 5:30pm
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Public Notice

Monday, January 25, 2021 - 5:30pm
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Board Meeting

Monday, January 25, 2021 - 11:00am
Due to public health concerns and as authorized by Executive Order of the Governor, this meeting will be conducted via teleconference. The public may listen to the meeting by clicking the link below. Members of the public may submit comments on Agenda items in writing to [email protected] by 5:00 p.m. on Friday, January 22.
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Report

Friday, January 22, 2021 - 6:10pm
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 third quarter, ending 9/30/2020. Empire State Jobs Retention Program Quarterly Report - Chart A: Businesses Admitted To Program Empire State Jobs Retention Program Quarterly Report- Chart B: Credits Issued
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Report

Friday, January 22, 2021 - 6:06pm
The Excelsior Jobs Program provides job creation and investment incentives to firms in targeted industries in order to encourage businesses to expand in and relocate to New York while maintaining strict accountability standards to guarantee that businesses deliver on job and investment commitments. Below please find the quarterly program report for the third quarter of 2020, ending 9/30/220. 9/30/2020: EXCELSIOR JOBS PROGRAM - Quarterly Report CHART A - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Admitted To Program CHART B - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Issued Credits- Tax Year 2012  CHART C - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Issued Credits- Tax Year 2013 CHART D - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Issued Credits- Tax Year 2014  CHART E - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Issued Credits- Tax Year 2015 CHART F - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Issued Credits- Tax Year 2016 CHART G - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Issued Credits- Tax Year 2017 CHART H - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Issued Credits- Tax Year 2018 CHART I - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Issued Credits- Tax Year 2019
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Report

Thursday, January 21, 2021 - 10:59am
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