Empire State Development news and press releases

See all the official press releases from Empire State Development.

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Press Release

Thursday, May 9, 2019 - 1:00pm
Governor Andrew M. Cuomo today announced the groundbreaking of the Taystee Lab Building, an 11-story, 350,000 square foot LEED-Certified Class-A property in West Harlem that will serve as a state-of-the-art home for companies and organizations in the life sciences, technology, academia, non-profit and arts sectors in the burgeoning Manhattanville Factory District. Developed by Janus Property Company, the new building will be the anchor of the district, which stretches from West 125th Street to West 128th Street and includes both new construction and the redevelopment of former industrial buildings. This project furthers Governor Cuomo's goal of fostering inclusive economic growth in communities across the state. "Harlem has an incredible history and is also in the midst of an exciting renaissance, and this new building will be an important investment in the neighborhood's future," Governor Cuomo said. "The Taystee Building will provide state-of-the-art life sciences labs and educational organizations with a home just steps from all the best sites this neighborhood has to offer." "Harlem is full of culture and diversity, and we are committed to investing in projects to continue the momentum of growth in the area," said Lieutenant Governor Kathy Hochul, who made today's announcement. "The new Taystee Lab Building will anchor the Manhattanville Factory District and be the home of innovative companies and organizations focused on life sciences and technology. This development complements other institutions and projects in the area, continuing the transformation and building the economy of the future."  Read the complete press release here.
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Press Release

Thursday, May 9, 2019 - 11:25am
Empire State Development today announced that Philips Medical Systems MR, Inc. plans a multi-million-dollar investment to expand its current operations in Latham, Albany County. The company has committed to create 94 new jobs at this location, which serves as a magnetic resonance component manufacturing plant. This expansion furthers the Capital Region’s strategy of supporting the life sciences and advanced manufacturing industries, and advances the region as a cutting-edge medical research and technology hub. ESD President, CEO and Commissioner Howard Zemsky said, "Philips' decision to expand its high-tech manufacturing footprint is a testament to the Capital Region’s skilled talent pool and our strategic investments in life sciences and advanced manufacturing that will support the industry’s long-term growth in the area." Philips is planning a $13.2 million investment to build, equip and outfit an expansion to its facility on Old Niskayuna Road. To secure this investment for the Capital Region, Empire State Development has agreed to provide up to $1 million in performance-based Excelsior Jobs Program tax credits for the retention of more than 400 positions and the creation of 94 jobs over five years. Michael Morich, Philips Medical Systems MR, Inc. Business Leader and Head of Research & Development said, "We are excited to expand our operations in Latham, which will ultimately benefit our customers, our business and the community, and we are thankful to the Excelsior program for its support. Philips is a leading developer and manufacturer of Magnetic Resonance Imaging systems. We are proud to be in this field and operating our MR components business in the Latham community." Senator Neil Breslin said, "Today’s announcement is great news for the Capital Region, and especially the greater Colonie area. My thanks to Empire State Development and Philips Medical Systems for working together to create jobs and expand advanced manufacturing in the region." Assemblymember Phil Steck said, "Philips is a vital member of the Capital Region's advanced manufacturing industry, and this announcement is a significant investment in our local economy and workforce. I thank Empire State Development for supporting this project and helping to create jobs in Albany County, and look forward to celebrating the many milestones to come." Albany County Executive Daniel P. McCoy said, "By investing to expand its Albany County footprint, Philips is creating jobs that will invite more families to see why the Capital Region is the perfect place to live, work and play. Projects like this further promote our region globally as a hub for skilled workers and world-class manufacturing." Colonie Town Supervisor Paula A. Mahan said, "We are very pleased with the expansion plans for Philips Medical Systems here in the Town of Colonie. With the competitiveness of their industry, it is a wonderful opportunity for the Town to be selected for the expansion site.  This proves that the State of New York, the Capital Region and the Town of Colonie have the right qualities to compete in a global market." Latham-based Philips Medical Systems MR, Inc. was founded as Intermagnetics General Corporation in 1971 and was acquired by Philips in 2006. Based in the Netherlands with U.S. headquarters in Massachusetts, Philips employs approximately 77,000 employees globally, with sales and services in more than 100 countries. 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.   Contact: Adam Ostrowski | [email protected] | (518) 292-5148 ESD Press Office | [email protected] | (800) 260-7313  
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Report

Thursday, May 9, 2019 - 11:09am
The Linked Deposit Program (LDP) was created to encourage and assist New York State manufacturers and small businesses to undertake investments that improve performance and competitiveness, leading to a stronger economy for New York State. Since the program’s inception in 1994, LDP has lowered the interest rate for over 5,680 loans, resulting in $1.93 billion in bank lending and leveraging $4.03 billion in new capital investment by businesses across New York State. Read the annual LDP report for 2018 here:  Linked Deposit 2018 Annual Report
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Public Notice

Thursday, May 9, 2019 - 10:00am
Public Notice: Glimmerglass Opera Theatre Capital Improvements Project
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Public Notice

Thursday, May 9, 2019 - 10:00am
Velan Studios Capital Project
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Board Meeting

Wednesday, May 8, 2019 - 2:00pm
With videoconferencing to:   Empire State Development 633 Third Avenue, 37th Floor                         New York, NY 10017  
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Public Notice

Wednesday, May 8, 2019 - 10:00am
Public Notice: Efco Products Capital 2018 Project
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Public Notice

Tuesday, May 7, 2019 - 3:00pm
TCGplayer Facility and Equipment Project
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Public Notice

Tuesday, May 7, 2019 - 11:00am
Public Notice: Franklin Street Lighting DRI Capital Project
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Public Notice

Tuesday, May 7, 2019 - 9:00am
Public Notice: JBF Stainless Capital Project
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