Empire State Development Reports

ESD is dedicated to sharing information about its work with the public. In this Reports section, you can find many of the quarterly and annual reports that we provide each year, detailing key New York State economic development projects and initiatives. 

In addition to the reports published below, you may also wish to explore ESD's Database of Economic Incentives, which provides a dynamic, user-friendly, searchable database of economic development projects that receive ESD support, or the 100+ economic development-related datasets available at data.ny.gov

Additional information is provided through reports published by our 10 Regional Economic Development Councils at regionalcouncils.ny.gov, as well as in the comprehensive archive of public meeting videos and materials published in the ESD Media Center.

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Press Release

Wednesday, March 30, 2022 - 2:12pm
$100 Million Tourism Return-to-Work Program to Encourage Job Growth $25 Million Meet in New York Grant Program Supports Return of Large Events Part of Governor's $450 Million "Bring Back Tourism, Bring Back Jobs" Inclusive Recovery Package Governor Kathy Hochul today announced the launch of applications for two tourism grant programs designed to support and revitalize New York State's tourism and hospitality industry. The $100 million Tourism Return-to-Work grant program and the $25 million Meet in New York grant program were first announced in November as part of the governor's nation-leading "Bring Back Tourism, Bring Back Jobs" initiative. Both programs will now be making full applications available to tourism businesses, convention and conference centers, and licensed overnight lodging facilities that have qualified for the program. "The pandemic challenged the entire New York State business community, but its effects were especially damaging to our tourism and hospitality professionals," Governor Hochul said. "These programs are targeted to get help businesses rehire workers and bring new, world-class conventions and events to our communities - sparking the statewide economic engine that is tourism. New York is the most exciting, most vibrant, and most engaging place on the planet, and we need to do all we can to invite and welcome visitors from around the world." New York State's tourism and hospitality industry and workforce were severely impacted by devastating effects of COVID-19. Prior to the pandemic, the industry supported one in ten jobs throughout the state. Recognizing the importance of getting New York's tourism employees back to work, Governor Hochul unveiled the $100 million Tourism Return-to-Work grant program to support the rehiring of workers by providing grants to tourism industry businesses that suffered pandemic-related economic hardship. Additionally, the $25 million Meet in New York grant program was created to catalyze the return of events, meetings and trade shows that generate business travel, by covering a portion of event-based costs at conference spaces and partnering hotels. Read the full release here.
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Press Release

Wednesday, March 30, 2022 - 11:16am
The World’s Largest Business Accelerator for Uncrewed Systems is Accepting Applications through May 31; Innovative Competition Has Also Been Extended for Five Additional Rounds  GENIUS NY is Supported by “CNY Rising” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy Empire State Development (ESD) today announced that GENIUS NY – the world’s largest business accelerator focused on uncrewed systems – is now accepting applications for the sixth round of the year-long program. The in-residence accelerator, operated out of CenterState CEO’s Tech Garden in downtown Syracuse, will invest more than $3 million in five finalist companies, including a $1 million grand prize. The program also offers company stipends, resources, programming and networking opportunities to assist innovative startups with the tools they need to take advantage of emerging opportunities. GENIUS NY participants are required to operate their business in Central New York for at least one year. The program is funded through the CNY Rising Upstate Revitalization Initiative (URI), the region’s award-winning strategic plan to generate robust economic growth and community development. Empire State Development Acting President, CEO & Commissioner Hope Knight said, “GENIUS NY’s sixth round will help to further fuel Central New York’s thriving uncrewed aerial systems industry. This unique business accelerator competition is attracting forward-thinking entrepreneurial ideas and innovators to the region, as well as top companies that are ready to take advantage of the area's unmatched UAS assets and infrastructure." Applications are being accepted at www.geniusny.com through May 31, 2022 from tech startups focused in uncrewed systems, IoT, big data, and robotics. Subsets may include precision and remote sensing, smart city applications, data collection and analytics, guidance or communication systems, and sensors, among other technological categories. “We are excited to open this new round of applications and begin our search for the next cohort of companies that will join our region’s growing UAS and UTM ecosystem,” said Kara Jones, director of GENIUS NY. “GENIUS NY provides support these companies need to grow and contribute to the region’s expertise and diversity. Through five rounds of this accelerator program, we have seen impact and advancement of this sector within our economy, which is a proven jobs creator. We are extremely grateful to Empire State Development for renewing the program through round 10, which is a validation of the program's success to date.” Applications are evaluated by a panel of judges, and semi-finalists will be selected to present demos and pitches this summer. Five companies will advance to participate in the competition, which is structured as a unique programmed incubator and accelerator experience. The selected teams will enter the in-residence accelerator at The Tech Garden later this summer where they will be immersed in the incubator's events, resource pool, and mentoring. Applicants should be prepared to relocate to Central New York to participate in the program starting in August. “For more than a decade we have created a robust tech ecosystem that provides startup companies the tools and resources they need to scale and grow in the region,” said Robert Simpson, president of CenterState CEO. “The GENIUS NY program is evidence of this success, and we are grateful to Empire State Development for their continued support and validation of the program. Each new team that we attract to the region through GENIUS NY contributes to region’s growing tech sector and supports the advancement of the UAS and UTM industries here.” Additionally, the GENIUS NY competition has been renewed through round ten by ESD. The program has attracted more than 26 startups to Central New York since its inception in 2017. To date, the innovative teams have gone on to raise more than $90 million in venture capital and have created more than 60 upstate New York jobs. Round five winner, Airtonomy received the top prize of $1 million in October 2021. The company has seen significant growth in Central New York and has partnered with several local providers and customers. They continue to hire in Syracuse and work with other local UAS companies like NUAIR and Airial Robotics. Senator Rachel May said, “Central New York is a great place to live, play, and grow your business. Past Genius NY winners have contributed to our community by working on advancements in critical infrastructure maintenance, new agricultural technology, and more. I’m pleased to see more funding for Genius NY and to continue working on our region’s progress.” Assemblymember William B. Magnarelli said, “The Genius NY competition continues to help Central New York maintain its status as a hub for innovative companies exploring uncrewed aerial systems and other leading-edge technologies. The partnerships and opportunities created locally during the entrepreneurial stage create a catalyst for growth and industry leadership.” Assemblyman Al Stirpe said, "The GENIUS NY program has played an integral role in the rapidly expanding unmanned aerial systems (UAS) industry here in Central New York and helps create good-paying, local jobs. The latest round of awards through Empire State Development (ESD) promise to draw competitors from around the country from tech startups focused on UAS, the internet of things, robotics and big data. I encourage all companies, but especially upstate ones, to fill out an application and take advantage of this important economic driver.” Onondaga County Executive Ryan McMahon said, "The next round of the exciting GENIUS NY competition will continue to build on the success we've experienced as people come from across the country and across the globe to Onondaga County & Central New York. This innovative competition provides businesses with the tools and resources they need to ensure their long-term success and we are looking forward to the groundbreaking work that emerges from this latest round." City of Syracuse Mayor Ben Walsh said, "GENIUS NY has attracted and retained world-class business start-ups in Syracuse to scale and grow cutting edge technologies—creating local jobs, drawing top talent and expanding our high-tech ecosystem. The sixth round of the GENIUS NY competition will again produce exciting, breakthrough innovations and solidify Central New York’s position as a world leader in Uncrewed Aerial Systems technology. I thank Empire State Development for its continued support and look forward to welcoming the next cohort of innovators to Syracuse." Central New York Regional Economic Development Council Co-Chairs Randy Wolken, president and CEO of the Manufacturers Association of Central New York (MACNY), and, Le Moyne College President Linda M. LeMura said, "We are incredibly excited to see what the next round of innovative entrepreneurs will bring to the table. Through our continued support for the GENIUS NY competition, we are ensuring that New York state remains at the forefront of the growing UAS industry in Central New York, creating new opportunities and jobs for residents in the region for decades to come." To apply and learn more about GENIUS NY visit, www.geniusny.com. To learn more about CenterState CEO, visit: www.centerstateceo.com. Accelerating CNY Rising  Today's announcement complements “CNY Rising,” the region’s comprehensive blueprint to generate robust economic growth and community development. The regionally designed plan focuses on capitalizing on global market opportunities, strengthening entrepreneurship and creating an inclusive economy. The region is accelerating CNY Rising with a $500 million state investment through the Upstate Revitalization Initiative. The state’s $500 million investment is helping incentivize private business to invest well over $2.5 billion – and the region’s plan, as submitted, projects up to 5,900 new jobs. More information is available here. 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 the Regional Economic Development Councils and the marketing of “I LOVE NEW YORK,” the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, visit www.regionalcouncils.ny.gov and www.esd.ny.gov. Contact: Shari Voorhees-Vincent | [email protected] | (585) 399-7055 Press Office | [email protected] | (800) 260-7313
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Press Release

Monday, March 28, 2022 - 3:54pm
A $600 Million Investment from New York State - Less Than Half the Cost of the Stadium - Will Be Matched by Investments from the NFL, Bills and Erie County and Keep Team in Buffalo for Next 30 Years    Largest Construction Project in Western New York History Will Be Built with Union Labor, Projected to Create 10,000 Construction Jobs    Economic Impact from Team Will Cover More than 100 Percent of Public Share of Stadium Funding   Governor Kathy Hochul and Erie County Executive Mark Poloncarz today announced an agreement between New York State, Erie County and the NFL's Buffalo Bills franchise for a $1.4 billion new stadium in Orchard Park. Governor Hochul's negotiations secured a 30-year commitment for the Bills to remain in Buffalo, and a combined $550 million from the NFL and Bills - approved today by the NFL owners. The Governor will advance a $600 million proposal in the state budget, and Erie County will contribute $250 million. The economic and tax impacts generated from the team will support more than 100 percent of the public share of the new stadium cost.      "I went into these negotiations trying to answer three questions - how long can we keep the Bills in Buffalo, how can we make sure this project benefits the hard-working men and women of Western New York and how can we get the best deal for taxpayers?" Governor Hochul said. "I'm pleased that after months of negotiations, we've come out with the best answers possible - the Bills will stay in Buffalo for another 30 years, the project will create 10,000 union jobs and New Yorkers can rest assured that their investment will be recouped by the economic activity the team generates."    The Buffalo Bills franchise is a proven economic driver for the Buffalo region and the state. The Bills generate $27 million annually in direct income, sales and use taxes for New York State, Erie County and Buffalo. These revenues will grow and will cumulatively amount to more than $1.6 billion over the 30-year lease period.  Furthermore, fans who attend games from across New York, the U.S. and Canada and spend money locally that would not otherwise be spent in the region will result in an economic impact of more than $385 million annually.  Read the full release here.
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Press Release

Thursday, March 24, 2022 - 3:00pm
New York-Led Multi-Agency Consortium Announces Connecticut, Massachusetts, and New Jersey to Join Dozens of Corporations and Universities, Demonstrating Shared Regional Vision for Long-Term Success Partners to Develop Proposal for Federal Infrastructure Investment and Jobs Act Funding and Designation as Regional Clean Hydrogen Hub Advances New York State’s Leadership on Clean Hydrogen Research and Development Supports Climate Leadership and Community Protection Act Goal to Reduce Greenhouse Gas Emissions 85 Percent by 2050  Governor Kathy Hochul today announced that New York has signed a multi-state agreement, including with an initial group of 40 hydrogen ecosystem partners, to develop a proposal to become one of at least four regional clean energy hydrogen hubs designated through the federal Regional Clean Hydrogen Hubs program included in the Bipartisan Infrastructure Investment and Jobs Act. The New York-led consortium includes Connecticut, Massachusetts, and New Jersey – longstanding leaders in hydrogen and fuel cell innovation, and key neighbors on the I-95 corridor – as the first out-of-state partners to join the regional effort, opening the door for future state additions. Today’s announcement advances each States’ leadership in clean hydrogen infrastructure deployment and research and development, and supports New York’s Climate Leadership and Community Protection Act goal to reduce greenhouse gas emissions 85 percent by 2050. Today's announcement is a critical step in implementing Governor Hochul's directive in her 2022 State of the State address to make New York State a green hydrogen hub. “New York is proud to lead the way in forming bold partnerships to combat the existential threat of climate change,” Governor Hochul said. “Expanding the hydrogen market is critical to New York’s aggressive pursuit of clean-energy alternatives that will supercharge our economy and advance our climate goals. Coalitions like this one serve as a model to the nation on the collaboration that is required to meet this moment and bring us closer to a carbon-neutral future, and I thank Governors Lamont, Baker and Murphy for their partnership.” Read the full press release here.
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Press Release

Thursday, March 24, 2022 - 10:15am
Joseph T. Ryerson & Sons Will Create 25 New Jobs; Company to Invest $1.5 Million in Facility Empire State Development (ESD) today announced Ryerson Holding Corporation, a leading value-added processor and distributor of industrial metals, will renovate its Lancaster facility, allowing it to double its workforce at the plant. Ryerson is investing $1.5 million in the renovation project that will add 25 new, full-time permanent employees and retain 29 existing, full-time permanent employees. “New York State takes pride in companies like Ryerson: an equal opportunity employer committed to growth and continuous improvement in delivering quality products and excellent customer experiences,” said Hope Knight, Empire State Development Acting Commissioner and President & CEO-designate.  “The Excelsior Jobs Program was devised to attract and retain companies like Ryerson and help them to expand their operations, and we are pleased to help the company play a role in the WNY’s economic future.” Ryerson operates out of approximately 100 locations across the United States, Canada, Mexico, and China. This project will facilitate the consolidation of a plant currently located outside of New York State into the 3915 Walden Avenue facility and will include the relocation and installation of manufacturing equipment, building renovations, and office space improvements. The project is expected to be complete by the end of 2022. ESD’s Excelsior Jobs Program encourages businesses to expand in and relocate to New York while maintaining strict accountability standards to guarantee that businesses deliver on job and investment commitments. To encourage Ryerson’s investment, ESD is providing Ryerson up to $244,000 in New York State Excelsior Jobs Tax Credits in exchange for creating 25 new jobs. “ESD has provided Ryerson with valuable incentives allowing our company to maintain its commitment to growth in New York State,” said Matt Propis, General Manager for the Northeast Market. “After spending nearly 115 years in the state, Ryerson is proud to be able to expand our presence here and provide new manufacturing jobs.” More information about Ryerson can be found here. Senator Patrick Gallivan said, “I congratulate Reyerson Holding Corporation on its expansion and thank company leaders for their investment in Lancaster and WNY. This type of economic development in which existing jobs are maintained and new ones are created sends a positive message about our community and the local workforce.” Assemblymember Monica Wallace said, "Ryerson Holding Corporation’s investment in its Lancaster facility will be a boon for our community and will help fuel the resurgence of the greater Buffalo economy. I thank Empire State Development and Governor Hochul for utilizing the Excelsior Jobs Program to create dozens of new jobs in Lancaster, and I commend Ryerson for renewing its commitment to Western New York." Erie County Executive Mark Poloncarz said, “Ryerson’s decision to invest and grow in Lancaster is great news for Erie County and shows once again that our economic climate is desirable for business. This investment creates over two dozen new jobs, retains existing ones, and improves Ryerson’s facilities. Thanks to them and to ESD for making this new phase of growth possible.” 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 Kathy Hochul’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, visit www.regionalcouncils.ny.gov and www.esd.ny.gov.  Contact: Pamm Lent | [email protected] | (716) 846-8309 | (716) 560-8815 Laura Magee | [email protected] | (716) 846-8239 | (716) 374-4246 
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Board Meeting

Thursday, March 24, 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, March 23, 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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Press Release

Wednesday, March 23, 2022 - 10:43am
$25 Million Luminate NY Initiative Continues to Bring the Best Startups with Optics, Photonics, and Imaging Technologies to the Finger Lakes Region to Tap World Class Resources and Grow the Economy The Competition is Supported by “Finger Lakes Forward” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy Empire State Development (ESD) today announced the 10 companies selected to take part in the fifth round of the Luminate NY accelerator program, investment fund, and competition. A total of 130 applications were received for consideration to participate in the world’s largest accelerator for startups working on emerging solutions that are enabled by optics, photonics, and imaging (OPI). Fifty percent of the applications came from 24 countries with the remaining 50 percent from U.S. states. Earlier this month, Governor Kathy Hochul announced a proposed, four-year, $20 million commitment to continue the successful, globally renowned competition as part of her $216 billion, FY2023 budget proposal currently awaiting approval by the New York state legislature. The companies were selected after pitching their innovative ideas to an advisory panel comprised of industry experts. Each finalist will receive an initial investment of $100,000 and will have the chance to compete for up to $2 million in follow-on funding upon completion of the accelerator program. Cohort 5 will begin on April 11, 2022. The six-month program will help the companies speed the commercialization of their technologies and businesses. Funding for the $25 million program, which was created and run by NextCorps, is provided through the Finger Lakes Forward Upstate Revitalization Initiative—the region’s comprehensive strategy to revitalize communities and foster economic growth. Empire State Development Acting Commissioner and President & CEO-designate Hope Knight said, “I want to offer my congratulations to the 10 entrepreneurial companies selected as finalists for Luminate NY’s fifth cohort. The cutting-edge ideas from these optics, photonics and imaging startups will help to drive innovation and opportunity in the Finger Lakes Region and throughout New York State.” Luminate NY supports innovators as they further develop their technologies in Rochester with help from industry experts, local universities, and the vast OPI resources that are offered by businesses throughout the Finger Lakes region. Cohort 5 is solving challenges within a number of industries, including, but not limited to: quantum computing and technology, healthcare, clean energy, agtech, advanced imaging, artificial intelligence and autonomous vehicles. The 10 selected startups include: Alertgy—patented wearable wristband platform with the first application providing affordable, effective, and noninvasive continuous glucose monitoring for existing and pre diabetics, and health-conscious people Axion Technologies—patented technique for scrambling light to provide quantum random numbers, which can be used in computing applications to protect data and expand the usefulness of data simulations, enabling more secure networking Custom Surgical—optical systems and software that digitize medical microscopes or slit-lamps, allowing for the seamless capture, storage, and broadcasting of high-quality medical imaging, without blocking the binoculars LIDROTEC—patent pending wafer dicing laser machines for the semiconductor industry that enable thinner cuts with a 0 percent damage rate LightSpeedAI Labs—optoelectronic interconnects and lego-like processors that will address the need for increased, real-time processing of data bandwidth-intensive applications like video streaming, AI, cybersecurity, and smartNIC at low-power MEETOPTICS— A specialized photonics search hub that enables researchers and engineers to find and compare products and technologies from trusted suppliers in minutes instead of weeks QD Solar— low-cost, lightweight, flexible, high-power density solar sheet that offers efficiency well beyond that of silicon solar Quantopticon—automation software tools supporting the rapid cost-effective development of high-quality, peak-performing quantum photonic devices, which are key to the emerging quantum technology industry SCOUT—on-orbit imaging systems and autonomy software for automated detection, tracking, and characterization of space objects and orbital debris Stratio— AI-assisted visible and infrared imaging solutions for Advanced Driver-Assistance Systems (ADAS), medical imaging, precision farming, forensic, and food/plastic sorting One additional company, EmGenisys—which won $250,000 in the 2021 Grow-NY competition—will take part in Luminate NY out of the finalist structure to gain access to regional resources. Opto Biolabs and SynchroPET  will be auditing the program to help prepare and advance their businesses for applying to accelerator programs in the future. Luminate NY Managing Director Sujatha Ramanujan said, “Earning a spot in Luminate NY is becoming more competitive each year as the caliber of the teams and the originality of their inventions increases. With access to our renowned regional resources, mentors, and investor network, Luminate NY help these industry-changing technologies enter the market much faster to bring new capabilities and possibilities to multiple industries.” Since its inception, Luminate has invested $12 million in 43 startups. The companies in the portfolio have raised an additional $80.8 million and have a combined valuation of approximately $360 million. Many of the companies are establishing U.S. operations or some aspect of research and manufacturing in the Rochester region—which continues to be the epicenter of the OPI industry in North America. This has resulted in the creation of 103 new jobs in the region. State Senator Jeremy Cooney said, “I am pleased to congratulate the ten finalists selected for Round 5 of Luminate NY. Their work, ranging from health to cybersecurity to environmental conservation, will benefit our community in essential ways. I look forward to the development of all companies involved with the Luminate NY accelerator program and appreciate your contribution to our economic growth. Thank you to Empire State Development for supporting the mission of Finger Lakes Forward by making these opportunities possible.” Assembly Member Harry Bronson said, “The Luminate NY Accelerator Program attracts the most creative and dynamic light technology startups from across the globe. This year’s finalists represent another round of entrepreneurs that will advance our optics, photonics and imaging industries. Their ingenuity and inventiveness will continue to bring job opportunities and investment to our region. We must meet their vision and successes with equitable workforce development programs that not only support our emerging and expanding industries but also provide career pathways for all members of our community.” Monroe County Executive Adam Bello said, “Congratulations to all the teams advancing in the Luminate NY accelerator program which are leading our region’s photonics and imaging industry. No matter who ultimately wins, you should all be proud that you’re continuing the legacy of innovation and entrepreneurship that our region is known for.” City of Rochester Mayor Malik Evans said, “Luminate NY’s ability to attract 130 high-quality applications from 25 countries is a testament to the growing prominence of Rochester’s knowledge economy and our recognition as the imaging, optics and photonics capital of the world, I am pleased to welcome these incredible innovators to our city and wish them luck in this exciting accelerator program.  I also want to thank Governor Hochul and Empire State Development for bringing these 21st-century companies to Rochester through Finger Lakes Forward and helping us deliver economic empowerment and a prosperous future to our residents.” Finger Lakes Regional Economic Development Council Co-Chairs, Greater Rochester Chamber of Commerce President and CEO Bob Duffy and SUNY Geneseo President Denise Battles said, “We would like to offer our congratulations to the innovative teams selected to take part in the fifth round of the groundbreaking Luminate NY accelerator program. These forward-thinking entrepreneurs are helping to further bolster the optics, photonics, and imaging industry throughout the region as it continues to establish itself as the global leader in the light-based products and services industry. We are really looking forward to learning all about their next generation ideas.” For additional information about the Luminate NY accelerator, 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 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 (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 the Regional Economic Development Councils and the marketing of “I LOVE NEW YORK,” the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, visit www.regionalcouncils.ny.gov and www.esd.ny.gov. Contact: Shari Voorhees-Vincent | [email protected] | (585) 399-7055 Press Office | [email protected] | (800) 260-7313
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Board Meeting

Wednesday, March 23, 2022 - 10:00am
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 QWDC Agenda items in writing to [email protected] by 4:30 pm on Tuesday,  March 22, 2022. All comments received by the deadline will be provided to the Directors and posted online.
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Board Meeting

Tuesday, March 22, 2022 - 3:00pm
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 10:00 am on Tuesday, March 22, 2022. All comments received by the deadline will be provided to the Directors and posted online.
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Press Release

Tuesday, March 22, 2022 - 12:17pm
The USA Niagara Development Corporation (USAN) Board of Directors met today and approved two grants for mixed-use projects at 311 Rainbow Boulevard and 320-324 Niagara Street in downtown Niagara Falls. The projects are leveraging private-sector investment to facilitate economic development within the USAN Development District. “USAN continues to support projects that will transform downtown Niagara Falls into a pedestrian, residential and tourist-friendly area,” said USAN Chairwoman Francine Delmonte.  “These projects both have historic elements – whether reestablishing a residential block or rehabbing historic properties – that will also add character and vitality to the tourist district.” The USAN Board awarded a grant of up to $1.7 million to Plati Niagara Inc. for its project at 311 Rainbow Boulevard, which was previously announced by Governor Kathy Hochul. The Cambria Hotel Niagara Falls is a $20 million mixed-use development project and is expected to open in spring of 2023. The seven-story, 120-room upscale hotel brand will also include three new residential guest houses (to be marketed as vacation rentals) on Buffalo Avenue to complement the historic character of Buffalo Avenue’s Heritage District. The guest houses will reestablish a residential block of Buffalo Avenue between Third and Fourth streets, where only a single residential structure currently remains. The units will also be located across from 305 Buffalo Avenue, a parcel that New York State purchased as part of its Strategic Land Acquisition Program, and where a new trail/stairway connection to the Riverway  opened in spring 2021. Plati Niagara Inc. also owns a Wingate by Wyndham in Niagara Falls. See a rendering of Cambria Hotel Niagara Falls here. The USAN Board also awarded a $145,000 Niagara Economic Development Fund (NEDF) grant to 324 Niagara Street Landlord LLC, a newly formed company founded by Samuel Savarino, for its mixed-use historic rehabilitation project at 320 and 324 Niagara Street. The $3.5 million restoration of two mixed-used, three-story buildings, totaling 12,531 square feet, includes capital improvements, facade improvements and interior renovations—creating 4,177 square feet of first-floor commercial/retail space. The project also includes renovations of 10 market-rate apartments on the second and third floors. These buildings are among the few surviving structures of the dense, mixed-use commercial-residential environment that once characterized Niagara Street. The buildings represent an important contribution to the late-19th and early-20th century urban architecture, commercial history and community development of downtown Niagara Falls. The USAN Board of Directors also approved two other items: Approval of the USAN Fiscal Year 2022-23 Annual Operating and Capital Budgets.  The FY 2022-23 Operating Budget of $674,692 and the FY 2022-23 Capital Budget is $70,244,760. It is anticipated that the proposed funding will fund design support and construction costs for the Rainbow Mall Civic Improvement Project, capital grants related to the Hotel Niagara and Cambria Hotel/Residential Development projects, and maintenance and site preparation expenses associated with properties secured through USAN’s Strategic Land Acquisition Program. Individual project expenses will be approved by the Directors under separate actions. Approval of the $1,499,927 Niagara Falls Convention Center and Old Falls Street 2022 operating and capital budgets.  About USA Niagara Development Corporation USAN, a subsidiary of Empire State Development, is solely dedicated to the support and promotion of economic development initiatives in Niagara Falls by leveraging private investment and encouraging growth and renewal of the tourism industry in the City of Niagara Falls.  For more information, visit https://esd.ny.gov/usa-niagara-development-corporation-6. Contact: Pamm Lent | [email protected] | (716) 846-8309 | (800) 260-7313 Laura Magee | [email protected] | (716) 846-8239 | (800) 260-7313
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