Empire State Development public notices

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Press Release

Tuesday, October 29, 2019 - 3:26pm
Buffalo Manufacturing Works Opens its New Home in the Northland Corridor Redevelopment Area, Buffalo's East Side Hub for Advanced Manufacturing See A Video of Buffalo Manufacturing Works' New Facility Here Governor Andrew M. Cuomo today announced the expansion and relocation of Buffalo Manufacturing Works to 683 Northland Avenue, now known as Northland Central, the initial anchor building in the Northland Corridor Redevelopment Area. Buffalo Manufacturing Works and associated entities join the Northland Workforce Training Center, completing a key component in transforming the Corridor into a premiere model of industry-driven public and private partnerships to Western New York manufacturers. "Buffalo Manufacturing Works proves collaboration with the private sector pays off with increased competitiveness in Western New York's growing manufacturing economy," Governor Cuomo said. "This expansion will continue Buffalo Manufacturing Works' mission to find solutions that bolster manufacturing and innovation, while stimulating economic development." "The new home for Buffalo Manufacturing Works is part of our continued efforts to invest in the future of Western New York's economy while transforming Buffalo's East Side," Lieutenant Governor Kathy Hochul said. "Advanced manufacturing and job training go hand-in-hand, and the new expanded location at Northland will provide the collaboration Buffalo needs to create good paying jobs and support further economic growth." Read the full press release here. 
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Press Release

Tuesday, October 29, 2019 - 12:25pm
Authentic Indian Cheese Producer Will Grow Operations in the Village of Waterloo; Will Create Almost 40 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 authentic Indian cheese maker Deep Dairy Products, L.L.C., which is part of the Deep Foods Group of companies headquartered in Union Township, New Jersey, will modernize its production facility on Swift Street in the Village of Waterloo, Seneca County. As a result of the upgrades the company plans to create up to 39 new jobs over the next five years;36 jobs will be retained. The facility modernization will allow additional products to be manufactured onsite that were previously made by third party suppliers and will increase the amount of milk needed from local dairy farmers. Deep Dairy Products specializes in the making of paneer cheese, ghee and yogurts. Empire State Development Acting Commissioner and President & CEO-designate Eric Gertler said, "Deep Dairy Products’ expansion in the Finger Lakes reflects the area’s rich agricultural resources and the success of New York State’s strategic investments in the region that will continue to grow the industry and create jobs both now and for the future.” The Waterloo facility is currently supplying the cheese and yogurt ingredients for many of the Deep Foods frozen food entrees made at the company’s New Jersey plant.   Deep Foods had previously purchased these raw materials from third party suppliers.  The planned upgrade of the Seneca County facility will allow Deep Dairy Products to increase capacity beyond raw material production and start manufacturing yogurts, lassi drinks (a popular Indian yogurt beverage) and other dairy products for retail sale on a large scale under the new brand name, ‘Deep Indian Kitchen’. The facility upgrades, which are already underway, will include the renovation of the nearly 27,000 square-foot facility and the installation of state-of-the-art machinery and equipment. Deep Dairy Products expects to complete the upgrades in late 2023. Deep Foods Group CEO Deepak A. Amin said, "We acquired this plant in May of 2018 and are excited to now be manufacturing quality paneer cheese, yogurts and other dairy products in Waterloo. The abundant supply of high-quality local milk and Waterloo’s business friendly attitude have confirmed that last year’s purchase of this plant was the right decision and that this is the best location for us to expand our dairy product production.  The incentives being provided by New York State enhanced the feasibility of this project and influenced our decision to expand and modernize the Waterloo plant rather than purchase an alternate facility or use a third party to produce our retail dairy products." Founded in 1977, Deep Foods Inc. and its affiliated companies employ nearly 4800 across the globe. ESD is assisting this important project with up to $700,000 through the Excelsior Jobs Tax Credit Program in exchange for job creation commitments. The project has also been supported by the Village of Waterloo and the Seneca County Industrial Development Agency. State Senator Pamela Helming said, "We are proud that Deep Dairy Products calls Waterloo home. Today's expansion is great news for both Waterloo and Seneca County. Many special partners made this possible. By working together, we can continue to attract new businesses and good jobs to our community.” Assembly Minority Leader Brian M. Kolb said, “Deep Dairy’s expansion and job-creation commitments represent a tremendous success story for the company, the Village of Waterloo, and our surrounding communities. It’s clear they recognize the positive qualities the Finger Lakes Region has to offer – a talented workforce, unique agricultural assets, and important state investments. I congratulate all stakeholders for this collaborative effort that will help Deep Dairy to continue to grow and prosper right here in Seneca County.”  Village of Waterloo Mayor John O’Connor said, “Deep Dairy represents a resurgence in large scale food production within the Village, consistent with the FLREDC’s comprehensive strategic plan.  Further, Deep Dairy brings another global presence to the Village.  We have worked hard in fostering a business- friendly environment and we are grateful to have Deep Dairy, which is affiliated with the largest manufacturer and distributor of Indian food products in the United States, locate a large manufacturing facility in the Village.” Seneca County Industrial Development Agency Executive Director Robert Aronson said, “This project has been 10 years in the making and has all the hallmarks of a classic economic development story. From its start as the vacant Mott’s/ReaLemon building to its transformation to Deep Dairy Products, our IDA team and board have been proud to partner on this project all along the way. We’ve been steadfast in our support, and solid investment and job creation have been the results. Our thanks go to Waterloo Mayor Jack O’Connor, Waterloo Village Administrator Don Northrup, and especially Subodh Amin, whose introduction to Deep Foods paved the way for today’s announcement. We are excited for Deep Dairy’s future, and Seneca County’s future now that we’re officially on the global food production map.” For more Information about Deep Foods Inc., click here. 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 State has already invested more than $6.1 billion in the region since 2012 to lay the groundwork for the plan – investing in key industries including photonics, agriculture‎ and food production, and advanced manufacturing. Today, unemployment is down to the lowest levels since before the Great Recession; personal and corporate income taxes are down; and businesses are choosing places like Rochester, Batavia and Canandaigua as a destination to grow and invest in. Now, the region is accelerating Finger Lakes Forward with a $500 million State investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015. 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. ​ Contact: Shari Voorhees-Vincent | [email protected] | (585) 399-7055 Press Office | [email protected] | (800) 260-7313
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Press Release

Monday, October 28, 2019 - 10:10am
$500,000 in funding for Buffalo commercial property owners in targeted East Side commercial corridors See map of eligible districts here Empire State Development (ESD) today announced information sessions for the $2 million East Side Commercial District Program, an initiative part of Governor Andrew M. Cuomo’s East Side Corridor Economic Development Fund.  The Program will provide up to $50,000 in grant assistance to commercial property owners in four commercial districts with buildings in need of exterior and interior repairs.  Interested, eligible property owners should attend upcoming meetings in their districts to learn more about program requirements, the application process, the assistance available through the program, and to meet their districts’ Local Program Administrators (LPA).  Information sessions will be held in each district throughout November, with final selection of projects expected in early 2020. “This funding will help to revive traditional main streets and commercial corridors in underserved neighborhoods through the preservation of historic buildings, funding of capital improvements and expansion of commercial opportunities in four East Side commercial corridors,” said Empire State Development Acting Commissioner and President & CEO-designate Eric Gertler.   The Program will expand neighborhood-serving businesses, including retail, restaurants, and other services; and increase mixed-use opportunities along strong commercial districts along Jefferson, Fillmore, and Bailey Avenues.  ESD will work with the LPAs to administer the program and allocate $500,000 to each of the four target districts. Building owners are required to contribute 15% of the total project costs, and the 85% balance of costs—up to $50,000—will be covered by the grant.  LPAs were selected for the program based on their experience administering similar programs such as the NY Main Street Initiative and Buffalo Main Street Initiative. Upcoming information meetings are being held in the following districts at the following times. Interested attendees should contact the sponsor organizations for more information and to RSVP. ▪     Broadway Fillmore Commercial District - Thursday, Nov. 7. 6 p.m. Coverage area: Buildings with a Fillmore Avenue address between Sycamore Street and Paderewski Drive, as well as buildings on corner lots. Buildings with a Broadway address between Memorial Drive and Reed Street, as well as buildings on corner lots. Meeting Location: Jericho Road Community Health Center, 1021 Broadway, Buffalo, N.Y. 14214 LPA: Broadway Fillmore Neighborhood Housing Services (BFNHS) LPA Program Contact/RSVP: Brianna Byandagara, [email protected], 716-852-3130. ▪     MLK Park Commercial District - Thursday, Nov. 21, 6 p.m. Coverage area: Properties and corner lots on Fillmore Avenue between East Ferry Street and North Parade Avenue. Meeting Location: Merriweather Library, 1324 Jefferson Ave., Buffalo, N.Y. 14208 LPA: Broadway Fillmore Neighborhood Housing Services (BFNHS) LPA Contact/RSVP: Brianna Byandagara, [email protected], 716-852-3130. ▪     Kensington Bailey Commercial District - Monday, Nov. 25, 8-9 a.m. and 6-7 p.m. Coverage area: Buildings with a Bailey Avenue address between LaSalle Avenue and Route 33, as well as buildings on corner lots. Meeting Location: University District Community Development Association Office at 995 Kensington Ave., Buffalo N.Y. 14215 LPA: University District Community Development Association (UDCDA) LPA Contact/RSVP: Essence Sweat, [email protected], 716-832-1010, ext. 202. *Note: UDCDA will be offering two meetings on Nov.25 with the same content at different times. ▪     Jefferson Avenue Commercial District – Tuesday, November 26, 6:30 p.m. Coverage area: Buildings with a Jefferson Avenue address between East Ferry Street and Dodge Street, as well as establishments on corner lots. Meeting Location: Beverly Gray Business Exchange Center, 334 E. Utica St., Buffalo, N.Y. 14208 LPA: Citizens’ Alliance, Inc. in partnership with the Black Chamber of Commerce of WNY LPA Contact/RSVP: Sydney Brown, [email protected], 716-597-0262. Managed by ESD, the Commercial Districts Program is an initiative in Governor Cuomo’s previously announced $50 million East Side Corridor Economic Development Fund, part of the Buffalo Billion II initiative.  It is intended to help revive traditional main streets and commercial corridors through the preservation of historic buildings, funding of capital improvements in neighborhood assets, and expansion of commercial opportunities in these neighborhoods. 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, 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

Friday, October 25, 2019 - 9:00am
With videoconferencing to: Empire State Development – Albany Office Conference Room 812 625 Broadway Albany, NY 11245 and Empire State Development – Buffalo Office 95 Perry Street Suite 500 Buffalo, NY 14203
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Press Release

Wednesday, October 23, 2019 - 1:46pm
Community-Identified REDI Projects Selected after Expert Evaluation and Review    Total $300 Million Appropriated for Shoreline Communities Includes $15 Million for Regional Dredging, $30 Million for Private Businesses, and $20 Million for Homeowner Assistance Governor Andrew M. Cuomo today announced the state is providing $43 million for Monroe County and $41 million for Wayne County for a total of $84 million to advance 43 projects across the two regions as part of the first round of funding under the Lake Ontario Resiliency and Economic Development Initiative, or REDI. REDI was launched by Governor Cuomo in May to increase the resilience of shoreline communities and bolster economic development in the region. Today's announcement marks a major milestone in the REDI effort. Identified by the communities and evaluated by state agency experts, the projects address both immediate and long-term resiliency needs, enhance economic development, protect critical infrastructure, incorporate green, natural, or nature-based features, and will help sustainably rebuild and enhance communities along the Lake Ontario and the St. Lawrence River shorelines. Additional projects in the REDI regions will be announced shortly.  "To respond to the challenges faced by New Yorkers on the Lake Ontario and St. Lawrence River shorelines, I called on 11 state agencies to mobilize their expertise and support local communities and help to implement actions that will create long-term sustainability," Governor Cuomo said. "Today, I am announcing REDI projects in Monroe and Wayne regions. These critical projects will realize the State's vision to sustainably protect and enhance the region's infrastructure, habitats, and local economies. Working together, New York State agency experts and local stakeholders zeroed in on 43 projects in these counties to serve as the crucial next step to helping these shoreline communities become whole again, as well as more resilient and economically vibrant."  "Communities along Lake Ontario and the St. Lawrence River have faced tremendous challenges in recent years. That's why we have taken aggressive action to help local governments, businesses, and homeowners with state support to improve resiliency and address the impact of flooding," said Lieutenant Governor Kathy Hochul. "This targeted funding for projects in Monroe and Wayne counties will address infrastructure needs to ensure sustainability long-term. These critical efforts will help to combat devastation from extreme weather events, strengthen our economy, and enhance quality of life for residents." Read the full press release here. 
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Press Release

Wednesday, October 23, 2019 - 12:25pm
New Dale Jones Burch Neighborhood Center Is Housed in a 136-year-old Firehouse Project Supported by $1 Million in State Funds from the New York City Regional Economic Development Council Governor Andrew M. Cuomo today announced that Henry Street Settlement, a social services organization that has served New Yorkers on Manhattan's Lower East Side for over 125 years, has opened its new Dale Jones Burch Neighborhood Center in a former New York City firehouse at 269 Henry Street. The building — which is expected to serve thousands of individuals each year — was supported by a $1 million capital grant from New York State and will further Governor Cuomo's efforts to bolster organizations that support those in need. "For over a century, both Henry Street Settlement and this firehouse have served New Yorkers, providing comfort in crisis and resources in times of need. It only makes sense this storied organization would take over this historic site," Governor Cuomo said. "New York State is proud to support this project — and Henry Street Settlement's continued work to uplift our neighbors." "Henry Street Settlement has been doing incredible work creating opportunities for New Yorkers for more than 125 years," said Lieutenant Governor Kathy Hochul, Chair of the statewide Regional Economic Development Councils. "With support from the New York City Regional Economic Development Council, this new community center will provide essential services for residents, including health insurance enrollment, employment training, and legal and financial support. We are proud to help open this new door of opportunity and enhance quality of life for residents in New York." Read the full press release here. 
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Press Release

Wednesday, October 23, 2019 - 12:01pm
Community-Identified REDI Projects Selected after Expert Evaluation and Review    Total $300 Million Appropriated for Shoreline Communities Includes $15 Million for Regional Dredging, $30 Million for Private Businesses, and $20 Million for Homeowner Assistance Governor Andrew M. Cuomo today announced the state is providing $49 million to advance 20 projects in Niagara and Orleans counties as part of the first round of funding under the Lake Ontario Resiliency and Economic Development Initiative. Governor Cuomo launched REDI in May to increase the resilience of shoreline communities and bolster economic development in the region. Today's announcement marks a major milestone in the REDI effort. Identified by the communities and evaluated by state agency experts, the projects address both immediate and long-term resiliency needs, enhance economic development, protect critical infrastructure, incorporate green, natural, or nature-based features, and will help sustainably rebuild and enhance communities along the Lake Ontario and the St. Lawrence River shorelines. "The recent challenge of historic high water levels along the Lake Ontario and St. Lawrence River shorelines calls for a swift and innovative response, and today I am announcing REDI projects in Niagara and Orleans counties that will create long-term sustainability for communities and businesses," Governor Cuomo said. "I directed 11 state agencies to mobilize their expertise and assess a portfolio of community-driven actions that will sustainably protect and enhance the region's infrastructure, habitats, and local economies. Working together, our Empire State experts and stakeholders came up with 20 projects in these counties that will help the region regain resiliency and economic vibrancy."  "Communities along Lake Ontario and the St. Lawrence River have faced tremendous challenges in recent years. That's why we have taken aggressive action to help local governments, businesses, and homeowners with state support to improve resiliency and address the impact of flooding," said Lieutenant Governor Kathy Hochul. "This targeted funding for projects in Niagara and Orleans counties will address infrastructure needs to ensure sustainability long-term. These critical efforts will help to combat devastation from extreme weather events, strengthen our economy, and enhance quality of life for residents." Read the full press release here. 
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Press Release

Tuesday, October 22, 2019 - 1:59pm
Albany, NY – Cree, Inc. (Nasdaq: CREE), the global leader in silicon carbide (SiC) technology, and New York Center for Research, Economic Advancement, Technology, Engineering, and Science (NY CREATES), last week successfully completed the first silicon carbide test wafers at the State University of New York Polytechnic Institute (SUNY Poly) Albany campus, just days after Cree and New York State announced their historic partnership on September 23. Dedicated staff from both Cree and NY CREATES worked together on the tests, marking the start of collaborative efforts in Albany. The line tests come just weeks after Cree announced plans to develop the world's-first, 200mm SiC wafer fabrication facility near Utica: the Mohawk Valley Fab. This test is key to ensuring the qualification of the fab for ongoing production when it ramps in 2022. “This is a small but significant step toward a very promising future for the Mohawk Valley-- signaling not only the beginning of our formal partnership with New York State, but also a preview of the groundbreaking work that is coming to the region,” said Gregg Lowe, President and CEO of Cree. “Together, we’re really excited to grow the silicon carbide industry as we support the automotive industry’s transition from internal combustion engines to electric vehicles while also training the future innovative leaders of our field in the Mohawk Valley.” “New York State has the right pieces in place for strong business partnership—infrastructure, research expertise, and an educated workforce—so that we can help companies quickly ramp up operations,” said SUNY Chancellor Kristina M. Johnson. “We at The State University of New York are proud to lend our assistance to Cree through NY CREATES and SUNY Poly, and look forward to involving more of our students and faculty in a short period of time.” Empire State Development Acting Commissioner, President & CEO-Designate Eric Gertler said, "Cree has hit the ground running and we look forward to the progress and partnerships that will be fostered as this innovative company continues to grow the silicon carbide industry right here in Upstate New York.” “We are proud to partner with and support Cree as the company begins its rapid ramp-up to full production. I am pleased to see how our team has helped to enable Cree’s successful power electronics tool line tests, including the completion of the first SiC test wafers at the Albany NanoTech Complex,” said Dr. Douglas Grose, Future President of NY CREATES. “This sets the stage for Cree’s fab, which will be newly built, to effectively and efficiently produce power electronics chips to meet the need arising from the anticipated growth of the electric vehicle market, and it’s exciting to see that New York State and Cree will be at the forefront of this important manufacturing effort.” Full time staff from both organizations began working on the Albany campus of SUNY Poly in the first week after the announcement, and it’s expected that combined staffing numbers will reach up to two dozen full-time staff working on the project by mid-November. Following this milestone, the first demonstration yielding 150mm silicon carbide test wafers is expected at SUNY Poly’s Albany campus next year. Progress is also being made in the Mohawk Valley where the site of the new state-of-the-art fabrication facility is being prepared for construction to begin. Cree has committed to create more than 600 new jobs within eight years and provide internships and research opportunities for SUNY students. The efforts help to develop an advanced manufacturing-oriented workforce development initiative across the SUNY system to prepare a 21st century workforce for the long-term, high-quality employment and advancement opportunities the new facility will present. SUNY has also committed to match up to $5 million in semiconductor-related research funding from Cree for the SUNY system. Until the completion of the Mohawk Valley Fab, Cree is leasing space on the SUNY Poly’s Albany campus to utilize equipment purchased as part of the New York Power Electronics Manufacturing Consortium (NY-PEMC). This will support plans to be the first company to successfully transition from producing devices on 150mm silicon carbide wafers. As the fab ramps, Cree will transfer the NY-PEMC equipment and its 200mm process to the Marcy Nanocenter, adjacent to SUNY Poly’s Utica campus. In addition to the direct jobs, Empire State Development estimates the project will generate approximately 570 indirect jobs and over $4.3 billion in total statewide economic impact over the next 20 years. About Cree, Inc.  Cree is an innovator of Wolfspeed® power and radio frequency (RF) semiconductors and lighting class LEDs. Cree’s Wolfspeed product portfolio includes silicon carbide materials, power-switching devices and RF devices targeted for applications such as electric vehicles, fast charging, inverters, power supplies, telecom and military and aerospace. Cree’s LED product portfolio includes blue and green LED chips, high-brightness LEDs and lighting-class power LEDs targeted for indoor and outdoor lighting, video displays, transportation and specialty lighting applications. For additional product and Company information, please refer to www.cree.com. Contact: ESD Press Office | [email protected] | (800) 260-7313
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Press Release

Tuesday, October 22, 2019 - 12:59pm
State to Collaborate with North Country Regional Economic Development Council to Revitalize Potsdam's Downtown Part of Governor's Comprehensive Approach to Transform Communities into Vibrant Neighborhoods and Boost Local Economies Governor Andrew M. Cuomo today announced that the Village of Potsdam will receive $10 million in funding as the North Country winner of the fourth round of the Downtown Revitalization Initiative. As in the first three rounds of the DRI, one municipality from each of the state's 10 regional economic development regions is selected as a $10 million winner, marking another overall state goal to target $100 million in funding and investments to help communities boost their economies by transforming downtowns into vibrant neighborhoods where the next generation of New Yorkers will want to live, work and raise a family. "With the Downtown Revitalization Initiative, we see the positive impacts that strategic investments can have on strengthening local economies across the state," Governor Cuomo said. "The Village of Potsdam serves as a major educational and commercial center for the North Country, and this funding will further help rejuvenate a key part of that center." "Our Downtown Revitalization Initiative is about more than just a physical change - it's about creating a psychological shift in communities across New York," said Lieutenant Governor Kathy Hochul. "With this targeted investment, Potsdam will be able to invest in projects to strengthen local assets and advance regional priorities. The DRI is part of our ongoing commitment to create a brighter economic future and enhance quality of life in the North Country and every region statewide." Read the full press release here. 
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Press Release

Tuesday, October 22, 2019 - 11:50am
Luminate NY is the World's Largest Startup Accelerator for Optics, Photonics and Imaging Technologies State Investment Complements “Finger Lakes Forward” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy Empire State Development (ESD) today announced that Luminate NY—the world's largest business accelerator for startups that have optics, photonics and imaging (OPI) enabled applications—received 101 applications to compete for a spot in Round III of the competition. 50 percent of this years’ applicants reside in countries outside of the United States, validating that Luminate NY is becoming a recognized global accelerator program. Last year, 33 percent of the startups that applied for the competition were from outside the U.S. The significant increase in international applicants demonstrates a growing desire to tap the rich OPI ecosystem that exists in the Finger Lakes region, which has long been recognized as the imaging capital of the world.  “Luminate NY brings emerging startups to the world’s imaging capital, with all of the Finger Lakes region’s OPI and manufacturing resources, where they can develop and more quickly commercialize their cutting-edge ideas,” said Empire State Development Acting Commissioner and President & CEO-Designate Eric Gertler. For Round III, applications came from 25 different countries, including:  India, Canada, Australia, Israel, Russia, Singapore, and Spain.  Fifteen companies from New York State applied, with the remaining coming from U.S. cities including Austin, Berkeley, Boston, Los Angeles and Orlando.  Funding for the $25 million accelerator is provided through the Finger Lakes Forward Upstate Revitalization Initiative and is administered by NextCorps. “Advancements in optics, photonics and imaging technologies are transforming just about every industry today,” said Dr. Sujatha Ramanjuan, Managing Director of Luminate NY. “By giving OPI startups a platform for both business and technical development, we’re helping to advance the mission of these businesses, as well as the industries they serve.” This month the accelerator’s management team and global advisory board will select up to 25 semi-finalists from the pool of applicants. These companies will then travel to Rochester to pitch their startups during Luminate NY’s Lightning Rounds on Nov. 7 at the Strong National Museum of Play. Ten startups will be admitted to the six-month program, which begins in January 2020 in Rochester. The accelerator provides significant support to startups—including an initial $100,000 investment, expert mentorship, access to investors, lab facilities, and education—to guide startups through actionable business planning that’s focused on commercializing technologies and scaling their businesses.  Upon graduation in June 2020, the companies will compete for a total of $2 million in follow-on funding. State Senator Joseph Robach said, “This is very exciting news regarding Luminate NY.  Any time we can grow jobs through technology is a win for our region.  It is important that New York State continues to do everything in its power to keep the Upstate economy vibrant by promoting economic growth and community development.” State Assembly Member Harry Bronson said, “I am pleased to see the announcement of Luminate New York Optics funding. This innovative program provides the funding for the entrepreneurial spirit that is needed for the future creative projects that will provide the future of job and economic growth for our state and nation. I know that this next round of funding will provide for great ideas that will help build a brighter future for our families.” Rochester Mayor Lovely Warren said, “Luminate NY's ability to repeatedly attract high-quality applications from around the world demonstrates the wisdom of Governor Cuomo's decision to locate this high-tech business accelerator in Rochester and build on our reputation as an up-and-coming research and development hub. Luminate NY gives business leaders a platform to bring their innovative ideas to the marketplace, which accelerates the growth of Rochester's knowledge economy. Thanks to Governor Cuomo and Empire State Development we are bringing 21st century job creators to Rochester through Finger Lakes Forward and that helps us achieve our goals of creating more jobs, safer, more vibrant neighborhoods and better educational opportunities for our citizens.” For more information about Luminate NY. click here. 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 State has already invested more than $6.1 billion in the region since 2012 to lay the groundwork for the plan – investing in key industries including photonics, agriculture‎ and food production, and advanced manufacturing. Today, unemployment is down to the lowest levels since before the Great Recession; personal and corporate income taxes are down; and businesses are choosing places like Rochester, Batavia, and Canandaigua as a destination to grow and invest in. Now, the region is accelerating Finger Lakes Forward with a $500 million State investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015. 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. Contact: Shari Voorhees-Vincent | [email protected] | (585) 399-7055 Press Office | [email protected] | (800) 260-7313
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