Empire State Development news and press releases

See all the official press releases from Empire State Development.

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Press Release

Friday, July 26, 2019 - 5:45pm
Governor Andrew M. Cuomo today announced 10 transformational projects for Lockport as part of the $10 million Downtown Revitalization Initiative award. The strategic investments in Lockport encompass rehabilitation and redevelopment of several iconic buildings and historic areas, including the Erie Canal, F&M Building, Cornerstone CFCU Arena, and Harrison place, as well as small businesses and services supporting the local community. The investments are part of the Governor's ongoing efforts to revitalize the upstate economy and create more opportunities for Western New York. "Through the Downtown Revitalization Initiative, Lockport will be able to secure significant upgrades in housing, transit, and community spaces, along with new business opportunities." Governor Cuomo said. "Western New York has seen unprecedented development in recent years, and with these targeted investments we are empowering communities to make further improvements that benefit the residents and visitors." "I was proud to represent the people of Lockport as a member of Congress and I know how important our Downtown Revitalization Initiative will be for the future of this unique Canal community," said Lieutenant Governor Kathy Hochul, who made today's announcement. "The $10 million in funding will allow Lockport to advance transformational projects which will improve quality of life for residents, create jobs, and help draw even more visitors to experience the history and heritage of the Erie Canal and Niagara County. This targeted state investment is part of our ongoing efforts to improve the economy of Western New York." Read the full press release here. 
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Public Notice

Friday, July 26, 2019 - 4:36pm
Final Scope - Bronx Psychiatric Center Redevelopment Project
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Press Release

Thursday, July 25, 2019 - 2:15pm
Governor Andrew M. Cuomo today announced 15 transformational projects for Amsterdam as part of the $10 million Downtown Revitalization Initiative award. The strategic investments in downtown Amsterdam will enhance several initiatives including Riverlink Park, the waterfront, the Mohawk Valley Gateway Overlook, community gathering spaces, new businesses and restaurants along Bridge Street, among others. The investments are part of the Governor's ongoing efforts to revitalize the upstate economy and create more opportunities for the Mohawk Valley. "The Downtown Revitalization Initiative is turning downtown neighborhoods across the state into vibrant communities where New Yorkers want to live, work and raise families," Governor Cuomo said. "These targeted investments in Amsterdam will bring new recreational options, economic development and community services to the region and help drive the local economy forward." "The City of Amsterdam was once booming with industrial manufacturers, but experienced a decline in the industry like many upstate cities decades ago," said Lieutenant Governor Kathy Hochul, who made today's announcement. "This significant investment in economic development projects will help Amsterdam continue its revitalization with mixed-use development to enhance quality of life. The Downtown Revitalization Initiative is providing communities with the funding they need to attract businesses and grow their economies." Read the full press release here. 
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Press Release

Thursday, July 25, 2019 - 12:30pm
Governor Andrew M. Cuomo today announced 10 transformational projects for downtown Saranac Lake as part of the $10 million Downtown Revitalization Initiative award. The strategic investments in downtown Saranac Lake will augment the village's strengths: proximity to the Adirondack Mountains and recreation attractions, a vibrant arts and cultural community, and a mix of small businesses in its walkable downtown. The investments are part of the Governor's ongoing efforts to revitalize the Upstate economy and create more opportunities for the North Country. "These targeted investments in Saranac Lake will help strengthen the surrounding businesses and communities," Governor Cuomo said. "By investing in our downtown neighborhoods we can help attract even more new businesses, residents and visitors to Saranac Lake." "As we work to protect the natural beauty of the Adirondacks, we must also ensure that local communities like Saranac Lake are vibrant and thriving," Lieutenant Governor Kathy Hochul said, who made today's announcement. "These Downtown Revitalization Initiative projects will be a significant boost for this community, helping to bring in more visitors and improve quality of life for local residents. Our investments represent a continued commitment to advancing the future of the North Country economy." Read the full press release here. 
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Press Release

Wednesday, July 24, 2019 - 4:06pm
Governor Andrew M. Cuomo today announced startup competition 43North's portfolio of companies has surpassed a major hiring milestone, creating over 520 new jobs in Western New York as of July 2019. As recently as March of this year, 43North had created 400 jobs; in just a few short months, rapid growth of some of the 43North companies has driven that number beyond the 500 job mark. 43North is the startup competition that invests $5 million annually to attract startups to Buffalo and cultivate their growth in the region. Since the competition launched in 2014, 44 promising startups have raised over $250 million in venture capital after receiving investment from 43North. "43North has sent Buffalo's high-tech startup scene soaring by attracting, mentoring and growing the companies of the future," Governor Cuomo said. "Our investment in these dynamic businesses is paying off by creating hundreds of new jobs and attracting talented young employees who are excited to take part in the economic renaissance of the region." "Our innovative 43North competition continues to deliver real job growth, boosting Buffalo's reputation as the place to be for high-tech startup companies," said Lieutenant Governor Kathy Hochul. "Young people are staying here and moving back because there is hope for the future, and 43North companies are an essential part of that transformation. This incredible milestone highlights the importance of this competition and our economic development initiatives. I look forward to seeing many more companies begin their journey and future success in Western New York." Read the full press release here. 
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Blog Post

Wednesday, July 24, 2019 - 3:47pm
Summer is the season when new graduates celebrate their accomplishments, families and friends fire up the grill for barbecues and weddings are in full swing. And three New York State women-owned digital businesses are at the center of many of those summer celebrations: Glossier, Rent the Runway and Zola. These companies are adding to New York State’s fourth-in-the-nation ranking for women-owned tech businesses, a ranking that reflects the abundance of opportunities for female entrepreneurs in the Empire State. These opportunities are built on a foundation formed by New York’s many strengths, including a top tech talent pipeline, a diverse workforce and easy access to capital. The stats speak for themselves: New York ranks first in the Northeast for STEM graduates, is home to some of the most diverse counties in the country and is second in the nation for venture capital investment. New York’s innovation ecosystem, including high-tech industry clusters that benefit from a strong STEM pipeline and build off each other, is generating successful businesses. Glossier and Rent the Runway show how this works – during the same week in March 2019, both reached “unicorn status” or a $1 billion valuation. Launched in 2014, Glossier is a digitally-focused beauty brand known for its makeup and skin care products that come in instagrammable packaging. Last year, the company surpassed $100 million in sales. Founder and CEO Emily Weiss has said her idea for the company was inspired by “Into The Gloss,” a beauty blog she created in 2010 that draws 1.3 million monthly visitors and now links to the Glossier shopping site. Glossier has since raised almost $200 million in venture capital funding and in 2017 was ranked among Fast Company’s “Top 50 Most Innovative Companies.” In April 2017, Glossier relocated to One SoHo Square in Manhattan in a major expansion of its headquarters, creating nearly 300 new jobs in technology, finance, marketing, operations and other core functions. Weiss has said she is “grateful for New York State's support in expanding our team in New York City. It’s where we’ve grown from a beauty blog to a beauty brand and built our community. We are incredibly excited to continue building a team in downtown New York City who will work to further Glossier's mission of empowering women to feel proud of who they are today.” Rent the Runway’s co-founders, CEO Jennifer Hyman and Head of Business Development Jennifer Fleiss, met while earning their MBAs at Harvard University, where they brainstormed a business idea that would revolutionize the fashion industry: a way for women to dress up more affordably by renting, rather than buying, high-end clothing. The idea proved popular, with 100,000 people signing up on Rent the Runway’s launch day in 2009 and driving the company to become the $1 billion business it is today. Rent the Runway has continued to grow ever since, expanding into casual wear and subscription-based services that have created the need for even more space and employees. After an initial 40,000 square-foot Manhattan expansion in 2015 that generated 100 new jobs, the company is expanding again in Brooklyn, this time creating 252 additional jobs. In March, Fortune cited Hyman as one of “fewer than 20 women at the helm of a private U.S. company valued at more than $1 billion.” When Zola CEO and co-founder Shan-Lyn Ma launched her company in 2013, she disrupted the wedding industry. What started as an e-commerce gift registry website grew into a one-stop shop for all things wedding planning, including wedding website design, guest list management, planning check lists and more. The company’s free suite of online tools radically reinvented the wedding planning experience and this past January through June, Zola once again revolutionized the industry, bringing its virtual wedding planning experience to life with the opening of its first brick-and-mortar store in New York City. At Zola’s pop-up location in Flatiron, customers were able to access in-person consulting services, a listening booth to plan wedding playlists and even a 3-D printer to create customized wedding cake toppers. With nearly $141 million in funding, Zola also announced plans this year to grow its headquarters in New York City with a new 30,000 square-foot space on the floor of 7 World Trade Center and plans to create 100 new high-paying, tech-focused jobs. The success of these three companies not only reinforces New York’s commitment to diversity, highlights the state’s top tech talent and shows how women-owned tech businesses are growing – it also benefits New York State. Whether it’s skincare and beauty or fashion and wedding planning, women entrepreneurs continue to innovate and reinvent these industries, providing jobs for New Yorkers — in the summer and all year long.  
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Press Release

Wednesday, July 24, 2019 - 1:46pm
Empire State Development (ESD) today announced that Sono-Tek, a company that specializes in the manufacturing of thin film ultrasonic coating machinery used in the medical, electronic, advanced energy and several industrial markets, will expand its facility and create six new jobs in Milton, Ulster County, while retaining 60 jobs. Sono-Tek will invest $550,000 to undertake capital improvements and purchase machinery and equipment, expanding its existing buildings from 13,000 to 32,000 square feet of new, high-tech manufacturing space. Empire State Development President, CEO and Commissioner Howard Zemsky said, “New York encourages the expansion of manufacturing in innovative, high-tech industries, and Sono-Tek’s larger facility will allow the company to service more companies around the world while keeping local jobs and creating new ones.” ESD will provide $150,000 in Excelsior Jobs Program tax credits for the company to create six new jobs and retain 60 existing full-time jobs over a period of 10 years. The project aligns with the Mid-Hudson Regional Economic Development Council’s Work Initiative and state and regional workforce development. Sono-Tek Corporation President Steve Harshbarger said, “This is an exciting time in the history of Sono-Tek. We anticipate company growth in conjunction with expansion of our knowledge-based workforce. Participation from ESD and Central Hudson has allowed Sono-Tek to focus this expansion locally to the Hudson Valley. Several high tech manufacturing operations Sono-Tek presently outsources, are now planned to be completed in our New York facility.” Sono-Tek’s was founded in 1975 by Dr. Harvey L. Berger, who secured funding from the U.S. Department of Energy to create a more efficient fuel burner to cut energy costs. The company has since widely expanded in scope, with seven applications labs and more than 50 factory-trained distributors worldwide. Assembly Member Jonathan G. Jacobson said, "Sono-Tek is a locally-headquartered manufacturer that currently employs more than 60 high-paid workers. Its commitment to new technology allows Sono-Tek to maintain and improve its position as a leader in the global marketplace. These tax credits will enable the company to make significant improvements to its factory while also creating new jobs. I strongly support the State's investment in this important Hudson Valley employer." Ulster County Executive Patrick K. Ryan said, “Sono-Tek’s expansion will allow the Ulster County-based company to further contribute to our economy while creating new jobs. This is exactly the kind of company that we want to see grow and thrive here.  I thank the company, Empire State Development and our community partners for their support making the project a reality.” Town Supervisor Al Lanzetta said, "Ever since Sono-Tek decided to make Milton, NY the site of their design and manufacturing headquarters, they have been an integral part of the community and a contributor to the importance of quality craftsmanship in modern manufacturing." 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 | [email protected] | (212) 803-3744 ESD Press Office | [email protected] | (800) 260-7313
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Press Release

Wednesday, July 24, 2019 - 12:00pm
Governor Andrew M. Cuomo today announced 12 transformational projects for Albany's Clinton Square neighborhood as part of the $10 million Downtown Revitalization Initiative (DRI) award. The strategic investments in Clinton Square will enhance the neighborhood's role as the heart of the Capital Region and highlight the area's natural landmarks and attractions, events and entertainment, and thriving arts scene. The investments are part of the Governor's ongoing efforts to revitalize the upstate economy and create more opportunities for the Capital Region. "These targeted investments in Clinton Square will help strengthen the neighborhood's role as a historic gateway to the heart of the capital city," Governor Cuomo said. "By investing in the infrastructure, affordable housing and business community, we can help attract even more new businesses, residents and visitors to Albany." Read the full press release here. 
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Board Meeting

Tuesday, July 23, 2019 - 3:00pm
With videoconferencing to: Empire State Development – Buffalo Office 95 Perry Street, Suite 500 Buffalo, NY 14203
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Press Release

Tuesday, July 23, 2019 - 1:17pm
Support from Empire State Development and the New York Power Authority has helped the company add 454 jobs, invest $71 million in equipment and new facilities, and spend $18 million on R&D Workforce has grown from 630 in 2012 to 1,400 in 2019 Empire State Development today announced that Contract Pharmacal, a family-owned company that develops, manufactures, and packages pharmaceuticals, over the counter drugs, and dietary supplements has dramatically expanded its presence on Long Island, more than doubling its workforce over the last seven years from 630 to 1,400. Over that time period, support from Empire State Development and the New York Power Authority has required the company to create 454 jobs, invest $71 million in equipment and new facilities, and spend $18 million on research and development. These projects have further strengthened Long Island’s booming pharmaceutical industry and built on Governor Cuomo’s efforts to create opportunity in every region of New York State. Lieutenant Governor Kathy Hochul visited the Contract Pharmacal site today, touring a building under renovation thanks to state support. Empire State Development President, CEO and Commissioner Howard Zemsky said: “Our regionally-focused economic development process invests in industry clusters that benefit from close collaboration — including pharmaceutical companies on Long Island. We are proud to see the results of our long-standing relationship with Contract Pharmacal and look forward to continuing these efforts.” Gil C. Quiniones, NYPA President and CEO, said: “ReCharge NY has been a critical economic driver under Governor Cuomo throughout the state, including on Long Island where the power program currently supports more than 67,000 jobs. It’s great to see Contract Pharmacal’s significant success in Hauppauge during its participation in ReCharge NY.” “Contract Pharmacal has deep roots on Long Island and thanks to support from New York State this innovative company has seen significant job growth in recent years,” said Lieutenant Governor Kathy Hochul, who toured their facility and made today’s announcement. “Their continued expansion is part of our ongoing strategy to create good-paying jobs, invest in our workforce, and ensure a brighter economic future for Long Island and across the state.” Mark Wolf, President of Contract Pharmacal, said: “The support of New York State has allowed us to expand and remain competitive in this highly specialized industry.” “Contract Pharmacal started on Long Island as a small business, and for decades they have invested in Suffolk County, growing to provide quality high-skill, high-knowledge jobs for our residents,” said County Executive Steven Bellone. “Thanks to Governor Cuomo’s commitment to economic development and job growth, employment opportunities in the pharmaceutical industry have more than doubled over the course of the last 7 years and the industry remains the most significant manufacturing sector on Long Island.” Founded in 1971, Contract Pharmacal is a family owned company that develops, manufactures and packages pharmaceuticals, over the counter drugs, and dietary supplements. Its customers include major drug companies, retailers and wholesalers. The company has been based on Long Island for more than four decades. Over the last seven years, the company has dramatically expanded its presence on Long Island, expanding from 630 employees in 2012 to 1,400 in 2019. The company now owns or leases ten different facilities in Hauppauge, totaling approximately 650,000 square feet. To support the company’s expansion over the last seven years, Empire State Development has offered $8 million of incentives tied directly to the company creating 454 jobs, investing $71 million in equipment and new facilities, and spending $18 million on research and development. The company has far exceeded its job creation number — adding 770 jobs in that time. The New York Power Authority currently provides the firm with 1.3 megawatts (MW) of ReCharge NY power, which provides qualifying businesses and non-profit organizations with discounted NYPA power in exchange for commitments to retain or create jobs in New York State. ReCharge NY offers up to seven-year power contracts. Half of the power—455 MW—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 MW is lower-cost power bought by NYPA on the wholesale market. 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 NY," 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. About NYPA NYPA is the largest state public power organization in the nation, operating 16 generating facilities and more than 1,400 circuit-miles of transmission lines. More than 70 percent of the electricity NYPA produces is clean renewable hydropower. NYPA uses no tax money or state credit. It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. For more information visit www.nypa.gov and follow us on Twitter @NYPAenergy, Facebook, Instagram, Tumblr and LinkedIn. Contact: Jack Sterne | [email protected] | (212) 803-3764 ESD Press Office | [email protected] | (800) 260-7313
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