Empire State Development public notices

Glenville Location will be Headquarters for Rocket Science Corporation, a New International Gaming Developer, Creating 30 New Jobs Will House the Future Capital District Gaming Studio, an Incubator and Game Developer Certification Facility Empire State Development (ESD) today announced plans for Rocket Science Corporation's new $1.6 million headquarters in Glenville, Schenectady County. The approximately 8,200-square-foot facility on Saratoga Road will house the international gaming developer, along with the Capital District Gaming Studio, a video game incubator and game developer certification facility. ESD is supporting these projects by awarding Rocket Science Corporation with up to $1.269 million in performance-based Excelsior Jobs Program tax credits for the creation of 30 jobs, and a $200,000 grant for construction and renovation costs related to the development of the Capital District Gaming Studio. Funding for both projects was recommended by the Capital Regional Economic Development Council. ESD President, CEO and Commissioner Hope Knight said, "We are happy to support the growth of the video game development industry in New York State. Rocket Science Corporation and the Capital District Gaming Studio will help create jobs, revitalize an underused and highly-visible property along a main thoroughfare, and spur new investments in a dynamic and growing industry." Rocket Science Corporation's new facility, the former Glenville Fire Station, will be refurbished into the new, permanent location for the game studio and serve as an incubator site to grow and support smaller studios. The Capital District Gaming Studio will feature an open space for independent game developers, and an educational space where existing programs can expand into Schenectady County. It will include a training facility where students, novices and professionals can learn game development skills and receive professional certifications. This program will be coordinated with existing programs at both SUNY Schenectady and the University at Albany, as full certification requires both testing and practical experience. In addition to its new Glenville headquarters, Rocket Science Corporation plans to operate multiple locations in New York State and the United Kingdom to better serve domestic and international customers. Company founder and CEO Brian Corrigan has a track record of bringing national game companies to the Capital Region, including PUBG from Seoul, South Korea and Major League Gaming from California. Rocket Science founder and CEO Brian Corrigan said, "New York State has played a crucial role in the growth of the gaming industry in the Capital Region.  With the addition of the new production credit, New York has the opportunity to become a truly global hub for innovation and in the space." New York State has made attracting and growing the video game industry a priority across New York State and recently announced the new State Digital Game Development Tax Credit Program to support game development projects that begin on or after January 1, 2023. The program is intended to support the digital game development industry across the state and accelerate economic development by offsetting some production costs. This is a $25 million tax credit that will award up to $5 million per year for five years. Applications can be found on the Empire State Development website here. Capital Region Economic Development Council Co-Chairs Ruth H. Mahoney President of Wealth Management, EVP, NBT Bank and Havidán Rodríguez President, University at Albany said, "Video game development is a growth industry in the Capital Region, and we are excited that these projects will expand the industry's reach into new communities. On behalf of the Council, we thank ESD for supporting these projects, which align with our strategic plan and will create new jobs in a cutting-edge field." Senator Neil Breslin said, "New York State is now becoming a leader in the burgeoning digital gaming industry.  With the announcement of Rocket Science Corporation's new $1.6 million headquarters in Glenville, we are seeing first hand its growth right here in the Capital District.  I applaud Governor Hochul and Empire State Development for their steadfast commitment to helping to see this industry thrive."  Assemblymember Mary Beth Walsh said, “Congratulations to Rocket Science Corporation for receiving an essential investment from Empire State Development as they embark on this exciting endeavor. The development of the new Rocket Science Corporation’s new headquarters, along with the Capital District Gaming Studio, will provide unique and innovative opportunities for those interested in the digital game development industry here in the 112th Assembly District and surrounding communities in the Capital Region. I look forward to learning more about this growing industry and visiting the new facility upon its completion!” Assemblymember John T. McDonald III, RPh said, "Thank you to Rocket Science Corporation and Empire State Development for investing in the Capital Region through the creation of the Capital District Gaming Studio. I have been a long-time supporter of the digital gaming industry and understand the potential for economic growth and the benefits for our communities. More importantly, programs like the Digital Gaming Tax Credit are simple but effective tools to retain and attract residents to our state. I look forward to seeing the digital game development industry continue to grow and am hopeful for continued investment through the New Yord State Digital Game Development Tax Credit Program." Schenectady County Legislature Chairman Anthony Jasenski said, “We are excited that Rocket Science has chosen Schenectady County as the home of its headquarters. This investment and the jobs it will create will be a tremendous boost for our community and further solidify Schenectady County as a hub for technology investment.  This would not have been possible without Governor Hochul’s leadership and we thank her for her support.” About Empire State Development Empire State Development is New York's chief economic development agency. The mission of Empire State Development 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, Empire State Development strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. Empire State Development 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, visit http://www.regionalcouncils.ny.gov/ and http://www.esd.ny.gov/. Contact: Kristin Devoe | [email protected] | (518) 414-1087 ESD Press Office | [email protected] | (800) 260-7313

Program Will Invest Up To $250,000 in Early-Stage Startup Companies With Matching Funds From Private Sector Part of New York's $500 Million Federal Funding Allocation to Support Small Businesses, Particularly in Traditionally Underserved Communities Applications and Program Information Available Here Governor Kathy Hochul today announced the launch of the $30 million Pre-Seed and Seed Matching Fund Program, which will offer early-stage start-up companies $50,000 to $250,000 in growth assistance which they will match with funds from private sector co-investors. The program will support the development of businesses in high-growth industries and the creation of 21st century jobs. Funding for the program comes from the State Small Business Credit Initiative, part of the federal American Rescue Plan, to support small businesses, especially those owned by socially and economically disadvantaged individuals and very small businesses which traditionally do not receive sufficient access to capital or support.    "For early-stage startup companies, access to capital is critical to ensuring the vitality of those businesses and sustaining them in the long term," Governor Hochul said. "The Pre-Seed and Seed Matching Fund Program will help these businesses gain their footing and create the jobs of the future while expanding access to funding in traditionally underserved communities. I thank our federal partners for helping to secure this funding and extending a lifeline to New York's small business ecosystem."   Empire State Development President, CEO and Commissioner Hope Knight said, "Even companies that are a household name now, started out as just an idea. Through the Pre-Seed and Seed Matching Fund Program, we will target promising startups and very small businesses and ensure that these good ideas become a reality in New York State, especially in traditionally underserved populations and markets."   The Program is managed through Empire State Development's NY Ventures, the state's venture capital arm, and will be focused on technology markets including advanced manufacturing, agricultural tech, climate tech, consumer tech, data/SaaS/AI, fintech, healthcare, Life Sciences and BioTech, and medical devices. Pre-seed funds are typically the hardest venture capital funds to access for new high-growth businesses, which is why NY Ventures is offering them through this program. To qualify, applicants must have raised less than $2 million of dilutive funding to date. All applicants must be registered to do business in New York State and agree to create economic impact in New York by having headquarters and at least one C-suite employee in state. Read the full press release here.

The Restaurant Return-To-Work Tax Credit Program incentivized COVID-impacted restaurants to bring restaurant staff back to work and to increase hiring at NYS restaurants. View report.

Eight Projects Across the State Will Leverage More Than $4 Million in Public/Private Funding, Support Nearly 3,000 Trainees for Over 100 Business Partners Governor Kathy Hochul today announced the New York State Office of Strategic Workforce Development has awarded more than $6 million in grants to eight projects across the state through the first round of the Capital and Pay for Performance Grant Programs. These grants will support the training of nearly 3,000 workers through collaboration between training providers and more than 100 employer partners in fields like advanced manufacturing, information technology, and film and television. The Office, which operates under Empire State Development, is charged with supporting workforce development programs and practices to ensure New Yorkers are prepared to meet the needs and priorities of today's employers. "New York State is making bold, strategic investments in our economy that are attracting and growing companies in New York, and we are laser-focused on ensuring that we have ready and able workers to fill these jobs of the future," Governor Hochul said. "Our new Office of Strategic Workforce Development will help reduce barriers to training and employment while supporting businesses with their workforce needs. This funding is just the beginning of our investment in developing a strong and diverse workforce for decades to come." Governor Hochul first proposed the new Office of Strategic Workforce Development in her State of the State address and established the office in April 2022 to better meet the needs of industry and create career opportunities for New Yorkers. Read the full press release here.