Empire State Development news and press releases

See all the official press releases from Empire State Development.

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Press Release

Tuesday, February 8, 2022 - 11:02am
Systems Engineer Manufacturer Repurposed 43,000 Square-Foot Facility in the Town of Henrietta Creating Almost 60 New Jobs Investment Complements “Finger Lakes Forward” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy Empire State Development (ESD) today announced that systems engineer manufacturer Precision Optical Transceivers (Precision OT) is growing its Monroe County operations, repurposing 43,000 square-feet of existing space at 2245 Brighton-Henrietta Townline Road in the Town of Henrietta. Having outgrown its previous location, the project will see the expansion of the company’s optical transceiver operations to include new engineering, production and office space. As a result of the project, the communications equipment manufacturer has committed to creating up to 59 new jobs;62 jobs will be retained. The company, which is focused on optical transport technologies, is already operational in the new location. "Precision OT’s further expansion in the Finger Lakes only adds to the region’s momentum as a destination for high-tech business and innovation,” said Empire State Development Acting Commissioner and President & CEO-designate Hope Knight. “Most importantly, this expansion will continue to accelerate job growth throughout the region, which remains laser-focused on the industries of tomorrow.” Founded in 2008, Precision OT works with a wide variety of industries, including health care, education, enterprise, government entities, and service providers.  Precision has invested heavily into Silicon and Integrated Photonics, resulting in significant growth in both its technical and manufacturing operations leading to the need for the planned expansion. Precision OT also recently announced that its Advanced Engineering Group acquired nine patents in the areas of optical networking, integrated photonics and photonic radio systems, “The expansion into this state-of-the-art facility marks a continuation of Precision OT’s rapid growth and is a pivotal milestone in taking our production and creation of optical solutions to the next level,” says David Halladay, President and CEO of Precision OT. “Our new location will not only strengthen our new product development and solutions but help build the networks of tomorrow.” ESD is assisting the Precision Optical Transceivers with the project by providing up $750,000 through the Finger Lakes Forward Upstate Revitalization Initiative’s (URI) Photonics Attraction Fund. The company has additionally committed to continuing its relationship as a member of AIM Photonics, enabling them to take advantage of the consortiums’ available resources. Monroe County and Greater Rochester Enterprise are also assisting with the move. The Photonics Attraction Fund is available for companies who are using integrated photonics technologies and are committed to establishing or expanding their manufacturing operations in the the Finger Lakes region. They must additionally demonstrate the adequacy of its resources, experience, and past performance. The region’s award winning $500 Million URI plan is laser-focused on growing the areas renowned reputation as a leader in the optics, photonics and imaging industries. State Senator Patrick M. Gallivan said, "I congratulate Precision Optical Transceivers on their expansion.  The company’s commitment to Henrietta and Monroe County will create new jobs and send a powerful message about the quality and diversity of our local workforce and the innovative spirit of the community. New York’s investment will also help attract other high-tech industries to the Finger Lakes Region in the future." State Assemblymember Harry Bronson said, “I applaud David Halladay, and the team at Precision Optical Transceivers for their commitment to our region. Today’s announcement by the company and Empire State Development shows that the Rochester area has a strong, diverse, and skilled workforce and is in an economic position to create jobs for the future. I look forward to Precision Optical Transceivers’ growth and the addition of new jobs at the Henrietta campus.” Monroe County Executive Adam Bello said, “Precision OT’s expansion of its local operations will create more jobs and is yet another proof point that Monroe County is a hub for technology and innovation. Thank you to Gov. Kathy Hochul, Empire State Development and Precision OT for your investment in our local economy.” Henrietta Town Supervisor Steve Schultz said, “The Town of Henrietta is always happy to welcome leading firms, like Precision Optical Transceivers. With close proximity to two leading universities in the imaging and optics fields, RIT and UR, Henrietta is becoming a hub for photonics and companies like Precision OT and government initiatives like AIM Photonics will only help grow that, providing more high end jobs for the community as well as the additive effect on other local businesses that comes from having these employees in Town.” Finger Lakes Regional Economic Development Council Co-Chairs said, "We applaud the decision by Precision Optical Transceivers to continue to grow its business in Monroe County. As a result, the innovative company can continue to take advantage of the top-notch optics and imaging talent that is widely available in the region. We have no doubt that the company’s commitment to continue to partner with the AIM Photonics team will also assist with its future growth and success.” Matt Hurlbutt, president and CEO, Greater Rochester Enterprise said, “Rochester, NY, is recognized as the world leader in optics, photonics, and imaging, making it the perfect location for Precision Optical Transceivers to expand and thrive. Precision Optical Transceivers’ leaders are leveraging the world-class R&D assets and highly skilled workforce in the Greater Rochester, NY region to accelerate the company’s growth plans. GRE looks forward to supporting Precision Optical Transceivers growth in the Greater Rochester, NY region.” For additional information about Precision Optical Transceivers, visit: https://www.precisionot.com/. Accelerating Finger Lakes Forward  Today’s announcement complements “Finger Lakes Forward,” the region’s comprehensive blueprint to generate robust economic growth and community development. The regionally designed plan focuses on investing in key industries including photonics, agriculture‎ and food production, and advanced manufacturing. Now, the region is accelerating Finger Lakes Forward with a $500 million State investment through the Upstate Revitalization Initiative. The State’s $500 million investment will incentivize private business to invest well over $2.5 billion – and the region’s plan, as submitted, projects up to 8,200 new jobs. 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 the New York State 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.
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Report

Tuesday, February 1, 2022 - 4:59pm
Linked Deposit 2021 Annual Report
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Report

Friday, January 28, 2022 - 3:26pm
Empire State Development oversees administration of the Empire State Musical and Theatrical Tax Credit Program, which is designed to encourage music and theatrical production companies to conduct pre-tour activities, technical rehearsals and to perform shows at locations in Upstate New York, home to some of the premier regional venues for musical and theatrical production. This report reflects activity during calendar year 2021. The information presented includes the number of productions that applied and projected spending and estimated credits for qualified production projects deemed eligible to participate in the Program. Musical and Theatrical Tax Credit Program: 2021
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Report

Friday, January 28, 2022 - 3:14pm
Empire State Development (ESD) oversees administration of the Empire State Commercial Production Tax Credit Program. The Program is designed to increase the production of commercial filming in New York State. Commercial Production Tax Credit Program Annual Report: 2019
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Press Release

Thursday, January 27, 2022 - 3:14pm
Packaging Manufacturer Will Build a 45,000 Square-Foot Addition in the Town of Lockport Empire State Development (ESD) today announced that Bison Bag Co., Inc., has outgrown its current space and will build a 45,000 square-foot addition at its facility located at 5404 Crown Avenue in the Town of Lockport. The company manufactures packaging, mainly for the food industry. Customers include Rich Products, King Nut, U.S. Sugar, Rosina Foods, Tropical Nut, and other food manufacturers located primarily in the Northeast United States. In order to better accommodate demand for its products, Bison Bag will also purchase new machinery and equipment. The company has committed to creating up to 10 new jobs as part of the $4 million expansion project; 90 jobs will be retained. “The Bison Bag Company’s sustained success and commitment to Niagara County is reflected in its decision to expand locally to meet growing client demand,” said Empire State Development Acting Commissioner and President & CEO-designate Hope Knight.  “Governor Hochul’s dedication to retaining small businesses, by supporting forward-thinking projects like this one, will continue to strengthen the economy and create high-quality jobs in Niagara County and across the state.”   Founded in 1968, current leadership at Bison has been at the forefront since 1999. With $32 million in annual sales, Bison is a market leader in providing innovative packaging solutions for the food industry, including custom-printed plastic bags, custom-printed pouches and rollstock. The expansion project involves the construction of a 45,000 square-foot addition to its current 92,000 square-feet facility. The addition will be a steel structure made to house food-grade materials.  Upon completion, the current warehouse will be moved into the new addition while the existing warehouse area will be converted into additional manufacturing space.  A laminator, slitter, and Regenerative Thermal Oxidizer will be purchased to support new markets that Bison previously hasn’t been able to compete in. “Bison Bag’s continued success is the result of our team’s dedication and commitment to quality and customer care. We look forward to the next phase of expanding and investing in our products, service, and team,” said Bison Bag Co. President Scott Zgoda.  “We are grateful to Empire State Development for providing us with an opportunity to advance our business. Western New York is an Ideal place for us to operate, service our customer base, and further expand our offerings.” ESD will provide Bison Bag up to $143,000 in Excelsior Jobs Program tax credits in exchange for job creation commitments. The new positions at Bison Bag include machine operators, warehouse attendants and quality technicians with an average annual salary of $46,600. Bison Bag expects to be operational in the new space by Fall 2022.  Additional information on Bison Bag Co., Inc. can be found here.   Tom Sy, Town of Lockport Coordinator of Economic Development said, “The Town of Lockport IDA was pleased to be able to support Bison Bag’s third expansion in our IDA Park. Bison Bag has received support from Town IDA in previous projects and is a tremendous success story. Bison Bag is an innovative and ever-forward company that will now employee over 100 employees in the Town of Lockport.” Senator Robert Ortt said, “As we recover from the COVID-19 pandemic, our state must be laser-focused on assisting and supporting small businesses across New York. Bison Bag’s expansion is welcome news as their growth will help provide new and exciting employment opportunities for Niagara County residents. Small businesses are the backbone of our Western New York economy, and we must continue our work to provide these vital job creators an economic climate that they are able to flourish within. I want to congratulate Bison Bag Co. on their success and wish them the best of luck as they continue to operate in our community.”    Assembly Member Michael Norris said, "Especially during this time, it is critical that New York State continues to invest in local business to grow high quality, competitive and long-term jobs to retain our greatest asset, our people. I commend this project and look forward working with my colleagues in State and local government to continue to grow our economy in Western New York. " Rebecca Wydysh, Niagara County Legislature Chairperson said, "We are very excited about the expansion of Bison Bag as it is another tremendous example that Niagara County is a great place to own, operate and hopefully expand your business. Bison Bag has long history in Niagara County and has been one of the companies on the radar of our Business Retention and Expansion program over the years.  I congratulate them on their success." 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 the New York State 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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Board Meeting

Monday, January 24, 2022 - 11:00am
In accordance with current Legislation, this meeting will be conducted via video conference and teleconference. The public may watch the meeting via webcast 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 21.
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Board Meeting

Monday, January 24, 2022 - 10:30am
In accordance with current Legislation, this meeting will be conducted via teleconference. The public may 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 9:30 a.m. on Monday, January 24, 2021. All comments received by the deadline will be distributed to the Directors prior to the meeting and will posted online.  
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Press Release

Friday, January 21, 2022 - 2:00pm
Renovations to the Niagara County Facility will Begin Immediately Helps to Reduce New York's Carbon Footprint by Accelerating Goals and Availability of Electric Vehicles Governor Kathy Hochul today announced that General Motors plans to invest nearly $154 million in its Western New York Lockport Components plant. The investment will be used to renovate the facility and purchase and install new machinery and equipment used in the production of the stator module, a key component in an electric motor. Electric motors will be used in a variety of GM's future Ultium Platform-based electric trucks and SUVs. Facility renovations will begin immediately.   "With this major investment at its Lockport facility, General Motors is taking the next steps to advance an all-electric future," said Governor Hochul. "Not only will this investment provide a boost to Western New York's economy, but it will play a critical role in supporting our efforts to electrify the transportation sector and reduce climate-altering greenhouse gas emissions and air pollution."  Gerald Johnson, GM Executive Vice President of Global Manufacturing and Sustainability said, "GM's investment in Lockport reaffirms our commitment to manufacturing in Western New York and our confidence in this team because they will build a crucial module in our electric motor assembly for our future EV trucks and SUVs. We appreciate the support from the state of New York, and it was an important factor in making this investment possible." As Lockport Components, which is a unionized facility located on Upper Mountain Road, prepares for electric motor component production, the facility will continue to build a variety of components that support GM's current truck and SUV production. Lockport Components currently produces radiators, condensers, heater cores, evaporators, HVAC modules, oil coolers and other components used in a variety of GM trucks. GM currently estimates Lockport Components will add approximately 230 positions between 2023-2026.  Actual staffing plans will be finalized closer to the start of production as the facility transitions to support EV motor component production. Empire State Development (ESD) will provide up to $5.65 million in Excelsior Jobs Program "green" investment tax credits in return for investment commitments to move the project forward. Empire State Development Acting Commissioner and President & CEO-designate Hope Knight said, "The auto industry is a critical economic driver in Western New York. General Motors' renovations at its Niagara County facility will help the region continue to lead the way with the next generation of electric vehicles and support New York's transition to the green economy." Read the full press release here.
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Board Meeting

Thursday, January 20, 2022 - 9:30am
In accordance with current Legislation, 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 Noon on Wednesday, January 19, 2022. All comments received by the deadline will be distributed to the Directors prior to the meeting and will posted on-line.
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