Empire State Development news and press releases

Two $50 Million RFAs Are Part of Broader Strategy To Develop and Strengthen Long Island's Economic Competitiveness Interested Applicants Can Learn More and Apply Here Governor Kathy Hochul today announced two Requests for Applications as part of the $350 million Long Island Investment Fund. Empire State Development will issue one RFA for the creation of a Life Science Accelerator Program and one for the creation of Workforce Development Training Centers. These Long Island Investment Fund RFAs present an opportunity to supercharge the growing life sciences ecosystem in the region and build on Governor Hochul's vision of supporting regional workforce development plans that provides in-demand skills and direct job placement. "My administration continues its commitment to supporting the groundbreaking innovation and workforce development that keeps New York State on the cutting edge through its many regional strengths, including Long Island's life sciences leadership," Governor Hochul said. "The Long Island Investment Fund will expand opportunity by accelerating development of early-stage companies that will transform the area's industry landscape and targeting workforce training to meet the needs of high-growth employers. Through these partnerships, we are helping to fill critical roles by preparing New York job seekers for careers of the future." Included as part of Governor Hochul's FY 2023 Enacted Budget, the Long Island Investment Fund has three components: $250 million to support transformative projects, $50 million to support an accelerator program with a venture competition, and $50 million to support workforce development. To date, more than $55 million out of $250 million has been allocated on projects that will support and grow the regional economy, enhance communities, and have positive long-term impacts across the region. The two $50 million RFAs being announced today, sponsoring the development of an accelerator program and supporting workforce development, demonstrate an important step forward in delivering on Governor Hochul's vision to strengthen the region's future by fostering the growth of commercialization in Long Island's life science research corridor and build the foundational infrastructure needed to support the region's talented workforce and needs of regional industries. Empire State Development President, CEO and Commissioner Hope Knight said, "With today's announcement, New York is laying the groundwork to build upon State investments to Long Island's life science ecosystem and regional workforce needs. Under Governor Hochul's leadership, the Long Island Investment Fund will prepare the region's workforce of tomorrow and supercharge Long Island as a hub of technology and innovation." Empire State Development Board Chairman Kevin Law said, "Long Island is where innovation and opportunity intersect. Through Long Island Investment Fund RFAs announced today, we are going to transform the region's life science corridor and create opportunities for a better future for residents and businesses for generations to come." Read the full press release here.

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"Unlocking Opportunity" Report Summarizes Commission's Findings, Provides Short- and Long-Term Recommendations To Lay Groundwork for Successful Prison Redevelopment Read the Commission Report Here Governor Kathy Hochul today released the recommendations of the New York Prison Redevelopment Commission, a 15-member panel convened by the Governor earlier this year to reimagine closed prisons across New York State for innovative redevelopment. The recommendations were unveiled in Unlocking Opportunity: The Report of the Prison Redevelopment Commission, a 140-page report that includes detailed site analyses of 12 closed prisons and considers redevelopment opportunities for each site to help them better serve the State's economic needs. "As we continue to move New York's economy forward, we are investing in communities across the state, including reimagining closed prison properties as hubs of regional opportunity," Governor Hochul said. "I am pleased that the Commission has done their due diligence and made these recommendations based on community input to create jobs, save taxpayer money, and bring these buildings to new life as economic engines. Empire State Development President, CEO, and Commissioner Hope Knight said, "I am proud to have co-chaired this Commission and of the work that has been done to compile this comprehensive report on the future development of our unused and underused prison facilities. The Commission's work, supported by extensive research and stakeholder engagement, has produced workable and realistic recommendations that will help shape a roadmap for impacted communities to follow well into the future." Read the full press release here.

Eight Downtown Revitalization Projects Increase the City's Walkability and Bikeability, Expand Business and Housing Opportunities and Improve Public Spaces and Amenities Project Renderings Available Here Governor Kathy Hochul today announced eight transformational projects in the City of Oneida as part of the $10 million Downtown Revitalization Initiative Award. The Awards will leverage the community's rich historic resources to create more housing and business opportunities.   "Our Downtown Revitalization Initiative provides critical funding that ensures our New York businesses thrive within our local communities," Governor Hochul said. "This much needed economic development funding provides the City of Oneida with a unique opportunity to revitalize the downtown and draw new economic investments to the area. I look forward to following the City's progress and the impact our local economic development efforts will continue to have on job creation and community transformation across the state." The City of Oneida developed and grew around the expansion of the New York State Canal System in the 1830s and continues to highlight its Canal legacy as a catalyst for growth, tourism and quality of life. The City's dense, walkable downtown contains significant architectural and historical assets on which to build its resurgence. Oneida's revitalization is focused on improving its parks, public amenities and streetscape infrastructure and creating new mixed-use spaces.   The investments are part of the Governor's ongoing efforts to revitalize the upstate economy and create more opportunities within the Central New York Region. The DRI is led by the Department of State, which provides technical assistance as each participating community develops a Strategic Investment Plan identifying specific projects with a unique vision for the revitalization of the downtown area.  The specific projects to be funded through the DRI support several goals and strategies contained in the community's Strategic Investment Plan, such as — increasing the City's walkability and bikeability; expanding business and housing opportunities by redeveloping and repurposing existing buildings; and improving public spaces and amenities. The $9.7 million State investments in these projects through the DRI will leverage additional public and private sector investments as the revitalization process proceeds and builds momentum. Read the full press release here.