Empire State Development news and press releases

See all the official press releases from Empire State Development.

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Press Release

Thursday, February 25, 2021 - 4:45pm
Company to Build State-of-the-Art Facility at Western New York Science, Technology and Advanced Manufacturing Park in the Town of Alabama, Creating 68 Jobs  State Investment Supports the Governor's Green Energy Program, Which Calls for $29 Billion in Green Energy Investments Across the State Complements "Finger Lakes Forward"—The Region's Comprehensive Strategy to Revitalize Communities and Grow the Economy Governor Andrew M. Cuomo today announced that leading alternative energy technology provider Plug Power will invest $290 million in the construction of a state-of-the-art green hydrogen fuel production facility and electric substation at the Western New York Science, Technology and Advanced Manufacturing Park located in the Town of Alabama, Genesee County. The Plug Power project is the first build at the STAMP site and will require that the company fund the construction of a 450-megawatt electric substation to support its expansion as well as future growth opportunities at the business park. Plug Power has additionally committed to creating 68 jobs at the new production facility, which will produce 45 tons of green hydrogen daily. The firm's commitment to develop its new green hydrogen fuel production facility in New York is the result of a comprehensive state and local incentive package from the New York Power Authority, Empire State Development and Genesee County. Construction on the new facility is expected to begin this summer.   "New York State is committed to establishing itself as the leader in the national effort toward a more renewable future focused on green energy excellence, and we're showing that protecting the environment and encouraging economic growth aren't mutually exclusive," Governor Cuomo said. "We are incredibly proud to partner with Plug Power once again and applaud the company's continued investment in the Finger Lakes region and to its commitment to creating top-quality green jobs as we work to foster new investment and job growth during a difficult economic time for many New Yorkers." "Not only does today's announcement mean more advanced manufacturing jobs in Genesee County, but we are also investing in a cleaner, greener future for New York State," Lieutenant Governor Kathy Hochul said. "Through the support of New York State, Plug Power, a leading alternative energy technology provider, will develop a new green hydrogen fuel production facility. We are proud to partner with companies like Plug Power that are building on our efforts to keep our state ahead of the curve and create a green economy."  The state incentives directly support the Governor's ambitious Green Energy program—the most aggressive climate and clean energy initiative in the nation—which will spur more than $29 billion in public and private investment across the state and create 12,400 megawatts of green energy, enough to power six million homes. The investments will not only help shift the state toward a carbon neutral economy, fulfilling the goals of New York's Climate Leadership and Community Protection Act, but also spur economic recovery from the COVID pandemic.  Read the full press release here.
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Press Release

Thursday, February 25, 2021 - 2:02pm
Project Supported by New York's East Side Corridor Economic Development Fund and Buffalo Billion II Initiative Empire State Development (ESD) today announced the completion of interior infrastructure improvements at the Beverly Gray Business Exchange Center (The Exchange), located at 334 East Utica on the East Side of Buffalo. The renovations, supported by funding from the state's East Side Corridor Economic Development Fund, improve The Exchange’s ability to serve small businesses on Buffalo’s East Side and throughout Western New York.   “The East Side Corridor Economic Development Fund predates COVID-19, but the impact of its strategic investments is especially crucial as we build back from the pandemic,” said Empire State Development Acting Commissioner and President & CEO-Designate Eric Gertler. "Improvements at The Exchange will give small businesses on Buffalo’s East Side the one-stop guidance they need to join in, and support, the neighborhood’s economic resurgence.”  The Beverly Gray Business Exchange Center is a comprehensive one-stop small business technical resource center developed to support entrepreneurship and innovation for Minority and Women-Owned Business Enterprises (MWBE), Service-Disabled Veteran–Owned Businesses (SDVOB), and small businesses in the City of Buffalo and WNY region. It is named for Beverly A. Gray, who was a dedicated community advocate, city council member and an entrepreneur who envisioned Jefferson Avenue and Buffalo's East Side as a vibrant hub for innovation and economic growth. It focuses on creating inclusive economic growth by connecting MWBEs, SDVOBs, and small businesses with an array of services and opportunities, and igniting an economic revitalization of neighborhood businesses for the residents on the East Side of Buffalo. The Exchange received nearly $31,600 from Empire State Development as part of the East Side Corridor Economic Development Fund to make much needed improvements to the building. This included upgrading IT and security systems, interior painting and plumbing, and the installation of a new boiler and HVAC systems. Shatorah Donovan, Chair of the Beverly Gray Business Exchange Center, Inc, said, "The Beverly Gray Business Exchange Center is a vital resource for our community. The building provides a space for entrepreneurs and community members to gather and learn more about how to build a business and access the wealth of resources available. Thank you to Governor Cuomo and Empire State Development for these funds that provided vital updates to the building, allowing us to continue to be an anchor in the neighborhood."  In March 2019, Governor Cuomo announced the $50 million East Side Corridor Economic Development Fund, an initiative to spark revitalization of Buffalo's East Side through investments in the four main north-south commercial corridors: Michigan, Jefferson, Fillmore and Bailey avenues. Funding is helping revive traditional main streets and commercial corridors through the preservation of historic buildings, funding of capital improvements in neighborhood assets, expansion of commercial opportunities, improvements to infrastructure, as well as the promotion of mixed-use private investment in these neighborhoods. The funding is designed to empower community residents to improve their businesses and neighborhoods, making it a ground up revitalization effort led by and directly benefiting the community. Mandela Market was one of the nine projects listed as part of a total $7.4 million allocation in direct project assistance, a list compiled by Empire State Development in conjunction with the City of Buffalo through public stakeholder meetings and listening sessions with business owners and neighborhood residents. Read more about Buffalo's East Side Corridor Economic Development Fund here. The fund complements previous investments on the East Side, including $10 million for the Neighborhood Stabilization Initiative and $5 million for the Buffalo Central Terminal, for a total of $65 million in investments since 2017. Senator Tim Kennedy said, “These improvements at the Beverly Gray Business Exchange Center will only further help to fuel opportunity as we build back from the COVID-19 pandemic. This investment will underscore the Center's reputation as a critical resource for small businesses and will support Western New York's continued economic recovery." Assembly Majority Leader Crystal D. Peoples-Stokes said, “The devastation caused by COVID-19 has shown us how critical the success of small businesses is to households and local economies. Behind successful businesses are supportive organizations such as the Beverly Gray Business Exchange Center. I'd like to thank Empire State Development for helping to make the Exchange Center more efficient in helping business clients.” County Executive Mark Poloncarz said, “Having the Beverly Gray Business Exchange Center fully finished and functional is just what the small business community in Buffalo needs, providing the supports and structure necessary for local small businessmen and women to succeed. This will be more important than ever as we continue to fight the pandemic and help our small businesses grow in Erie County.” Mayor Byron Brown said, "COVID-19 has impacted our small business community severely. The Beverly Gray Business Exchange Center is an essential resource for minority, women, and veteran-owned small business during these difficult times. I would like to thank Governor Cuomo and Empire State Development for providing funds for necessary infrastructure improvements and for stimulating economic growth through the East Side Corridor Economic Development Fund and Buffalo Billion II initiative." 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: Pamm Lent | [email protected] | (716) 846-8309 Laura Magee | [email protected] | (716) 846-8239
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Report

Wednesday, February 24, 2021 - 5:26pm
EFPR Group was commissioned to conduct an independent review of ESD's Film Production and Post Production Tax Credit Programs, pursuant to Section 6 of Part B of Chapter 59 of the Laws of 2013. Read the 2019 & 2020 report here: Independent Review of the Empire State Film Production and Post-Production Credit Programs – 2019 & 2020
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Report

Wednesday, February 24, 2021 - 5:20pm
Read Camoin Associates' report on the economic impact of the film industry in New York State for years 2019 & 2020:  Economic Impact of the Film Industry in New York State - 2019 & 2020
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Press Release

Tuesday, February 23, 2021 - 5:09pm
NYC-based, women-led company, uses software to improve communication between schools and families in school districts across the country  Empire State Development (ESD)’s NY Ventures provides capital to grow and support early-stage, high-growth startups located in New York State through direct investments. Empire State Development today announced a $54,000 investment in Kinvolved, the NYC based women-led company leading the way to improve family engagement and prevent student absenteeism in school systems across the country. This investment was provided by New York Ventures, the venture capital arm of Empire State Development.  Kinvolved works with school districts using KiNVO, an attendance and communications software that helps schools and families engage through voice calls, emails, and two-way SMS text messaging instantly translated into 80+ languages. The tool is used to fight chronic absenteeism and tardiness and has been key to supporting communications and information sharing during the COVID-19 pandemic—15+ million messages sent between March and June—including information about free meals, distribution of learning materials, and access to resources. Kinvolved works with more than 400,000 stakeholders in 12 states, including several of the largest public school districts in the United States such as New York City, Miami-Dade County Public Schools, Washington, D.C., and Providence, R.I. In New York State, outside of New York City, Kinvolved serves school districts in the Capital, Mid-Hudson, Southern Tier, and Western NY regions.  Empire State Development Acting Commissioner and President & CEO-designate Eric Gertler said, “New York Ventures supports entrepreneurs and high-growth startups as they see their ideas through to reality. This investment in Kinvolved, which improves communication between schools and families, is especially critical as we help our students continue to learn and thrive during the COVID-19 pandemic.” Kinvolved CEO and Co-Founder Miriam Altman said, “We’re extremely grateful for the support of New York Ventures. The funding allows us to empower districts to reduce absenteeism in any learning scenario, and the opportunity to urgently serve more districts across our home state is a particular honor.” Kinvolved’s holistic, research-based approach combines technology and human interaction. This multi-strategy approach includes professional learning and an attendance and communications software (KiNVO) that empowers districts to engage all students and families regardless of language, device, internet access, or location. Kinvolved partner schools and districts have relied heavily on KiNVO throughout the pandemic; the software has helped districts: Manage attendance in remote, in-person, and hybrid learning environments even while transitioning from one learning scenario to another Identify unknown and incorrect contact information, and keep family contact information up to date Create a unified district and school-wide communications strategy Easily keep families in the loop about their students' attendance and provide staff with actionable attendance data Miriam Altman, a former New York City high school history teacher, co-founded Kinvolved with Alexandra Meis in 2012 As a teacher, Altman had observed the impact that attendance and absenteeism had on her students. The Kinvolved approach incorporates her first-hand knowledge of what works – including making sure that families are informed about and involved in their student’s attendance. New York State had previously invested $950,000 in Kinvolved through the New York Ventures Innovation Venture Capital Fund and its Minority and Women Business Investment Funds. This latest round of investment reinforces support for Kinvolved and the positive impact they have on New York State schools and the communities that they serve. For more information on Kinvolved, please visit https://kinvolved.com. About New York Ventures New York Ventures is the venture capital investment arm of Empire State Development, New York State’s chief economic development agency. New York Ventures meets the critical capital needs of the state’s innovation economy by providing funding to high-growth startups as they move from concept to commercialization, through early growth and expansion. More information is available here. 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 (ESD) | [email protected] | (518) 414-1087 ESD Press Office | [email protected] | (800) 260-7313
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Report

Tuesday, February 23, 2021 - 11:08am
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Report

Friday, February 19, 2021 - 5:39pm
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 fourth quarter of 2020, ending 12/31/220. 12/31/2020: 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

Friday, February 19, 2021 - 5:32pm
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 12/31/2020. 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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Press Release

Friday, February 19, 2021 - 1:03pm
Outlined in Governor Cuomo's 2020 State of the State Agenda, Empire Station Complex Envisions an Integrated, World-Class Public Transportation Rail Hub for New York City Milestone is Latest Step in Creating a Comprehensive Redevelopment Initiative to Revitalize the Area around Penn Station Moynihan Train Hall's On-Time and On-Budget Completion Was the First Step in Transformational Effort Draft General Project Plan and Draft Environmental Impact Statement Available Here Governor Andrew M. Cuomo today announced that Empire State Development's Board of Directors has adopted the General Project Plan and certified the draft Environmental Impact Statement for the area surrounding Penn Station, part of the Empire Station Complex, which was outlined as part of the Governor's 2020 State of the State Agenda. The draft Plan is a comprehensive redevelopment initiative that will revitalize the area around Penn Station and generate funds to help overhaul and expand the Station itself. On December 30, Governor Cuomo announced the grand opening of the Moynihan Train Hall, the first step in realizing this vision. Materials from the Board action can be found here. "New York has repeatedly proven that government can still successfully deliver transformational infrastructure projects that are not only on-time and on-budget, but withstand the test of time," Governor Cuomo said. "The Moynihan Train Hall's successful completion was a milestone, but it's only the first step in a neighborhood-wide revitalization. The Empire Station Complex project represents the next great investment in our efforts to rebuild and expand this crucial piece of our state's infrastructure and will support economic growth in New York City and across the entire state."  "As a former counsel to the late U.S. Senator Daniel Patrick Moynihan, I'm proud that the new Moynihan Train Hall is a testament to his forward-looking vision and New York's resilient spirit," Lieutenant Governor Kathy Hochul said. "Today's announcement means further revitalization around the Penn Station area and builds on our world-class experience for travelers. The brand-new Moynihan Train Hall and future Empire Station Complex is a symbol for how New York State is committed to building back better than ever before for the post-pandemic future." The Empire Station Complex General Project Plan, supported by a Draft Environmental Impact Statement, would catalyze high-density, transit-oriented redevelopment on eight sites, resulting in a modern, mixed-use district with approximately 20 million gross square feet of Class A commercial office, retail, hotel and potentially residential space in ten buildings. It would roughly double the amount of gross square footage currently permitted across the eight sites. Additionally, the plan introduces much-needed public transportation improvements, including new entrances and access ways to Penn Station and nearby public transit, and public space improvements to address open space and pedestrian, bicycle and vehicular circulation and enhancements of the surrounding streetscape. Read the full press release here.
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Press Release

Thursday, February 18, 2021 - 2:49pm
Commercial Fuel Cell Vehicle Company to Establish 78,000 Square-Foot Facility in Honeoye Falls; Will Create 100 New Jobs   Investment Complements "Finger Lakes Forward" - The Region's Comprehensive Strategy to Revitalize Communities and Grow the Economy Governor Andrew M. Cuomo today announced that fuel cell vehicle company HYZON Motors, established by Asia-based Horizon Fuel Cell Technologies, will further grow its operations in the Village of Honeoye Falls in Monroe County, creating 100 new jobs over the next three years. The next generation fuel cell heavy vehicle supplier will renovate 78,000 square-feet of existing building space on Quaker Meeting House Road where the company will manufacture next-gen fuel cells for heavy- and medium-duty commercial vehicles. HYZON Motors first established its US operations in 2020 in Honeoye Falls. The company has developed hydrogen fuel cell stacks that can provide up 150kW of power, and expect to launch fuel cell systems capable of 300kW in 2022. "New York's targeted investments in the tech and green energy industries are attracting new businesses to the state and creating more opportunities for New Yorkers," Governor Cuomo said. "HYZON Motors' decision to grow its forward-thinking business here in New York shows that our investments are working. The company's new fuel cell manufacturing facility will create 100 top-quality, high-tech manufacturing jobs, strengthening both the regional and statewide economies while also furthering our state's green energy goals." "Not only does HYZON Motors' expansion mean 100 new high-tech manufacturing jobs in Monroe County, but we are also investing in the future green economy," Lieutenant Governor Kathy Hochul said. "Through the support of Empire State Development, HYZON Motors will manufacture the next-generation of hydrogen fuel cells for heavy and medium duty commercial vehicles. New York is proud to partner with companies like HYZOM Motors that are building on our efforts to keep our state ahead of the curve, strengthen our economy, and create a cleaner and greener post-pandemic future."   Empire State Development is assisting the innovative company with its fast-track growth by providing up to $1.6 million through the Excelsior Tax Credit program. Monroe County and Greater Rochester Enterprise are also assisting with this project. Total project cost has been placed at close to $8 million. Now underway, construction on the renovated facility is expected to be completed in April. Read the full press release here.
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