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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Board Meeting

Thursday, December 15, 2022 - 9:30am
With Video Conferencing To: Empire State Development – Albany Office, 625 Broadway – 8th Floor Conference Room, Albany, New York 12245 The meeting is open to the public. The public may also view and listen to the meeting via webcast by clicking the link below. Please Note: Due to building procedures, members of the public attending in-person at either location should please RSVP by 4:30 p.m. on Wednesday, December 14, 2022. Members of the press should please call (800) 260-7313; Members of the public should please call (212) 803-3772. Members of the public may submit comments on the Agenda items in writing to [email protected] by Noon on Wednesday, December 14, 2022. All comments received by the deadline will be distributed to the Directors prior to the meeting and will posted online.
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Report

Wednesday, December 14, 2022 - 6:03pm
View Report
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Press Release

Wednesday, December 14, 2022 - 5:59pm
REDCs Recommend Five Year Designations to Five Innovation Hot Spots and Three New York State Certified Business Incubators Full List of Awardees Available  Here Empire State Development (ESD) today announced that more than $8 million has been awarded to five Innovation Hot Spots and three Certified Business Incubators as part of the agency’s Division of Science, Technology and Innovation (NYSTAR). The eight awardees will each receive a five-year designation, and the awarded funding supports annual operating costs for NYSTAR programs and centers emphasize the importance of working with industry as a way to leverage New York State’s technology strengths to produce new products and services. Through this competitive process, administered by ESD, applications are received and reviewed through the Consolidated Funding Application (CFA)  by both the Regional Councils and ESD. NYSTAR designates a total of 10 Innovation Hot Spots—one for each of New York's economic development regions—and 20 Certified Business Incubators over a rolling competitive process, which receive funding to reach a greater number of early-stage companies.  “The success of early stage companies throughout New York State only strengthens our economy and NYSTAR’s hot spots and certified business incubators across the regions play an important role,” said Lieutenant Governor Antonio Delgado, Statewide Chair of the Regional Council initiative. “The Regional Councils are proud to support efforts to grow companies that advance New York State’s technology sector and ensure that we well prepared for the future.”  Empire State Development President, CEO and Commissioner Hope Knight said, “Nothing is more daunting than taking an idea and turning it into a business, and these designations and the funding that follows, demonstrate our continued commitment to supporting budding companies with the support they need to be successful in New York State. By supporting NYSTAR’s hot spots and incubators, we are able to assist a larger number of early stage companies and that makes a huge difference in a start-up companies future.” The Round XII awardees are: Innovation Hot Spots - $250,000 Annually: Capital Region – SUNY Albany – Innovate518 Long Island – Accelerate Long Island Mid-Hudson – SUNY New Paltz Mohawk Valley – Mohawk Valley Community College – thINCubator New York City – City University of New York Certified Business Incubators - $125,000 Annually: Capital Region – Rensselaer Polytechnic Institute Mid-Hudson – Hudson River Housing (EATS) Western New York – Olean Business Development Corporation Innovation Hot Spots are business incubators with the additional responsibility to coordinate regional entrepreneurial ecosystems. The goal of the Innovation Hot Spot program is to improve the quality and quantity of incubator services provided to young companies, enabling these businesses to successfully transition from the start-up phase to larger scale commercialization of their products and services. New York State's Certified Business Incubators offer a range of support to help get new and emerging businesses off the ground and put them on the path to success, with the goal of driving and directing growth. Incubators offer an array of business support services and resources, from finding physical workspaces and helping build capital, to initializing strategy and planning, and introducing new entrepreneurs to local businesses and networks. On average, companies can spend up to two years working alongside a business incubator, taking advantage of low-cost office space while gaining invaluable advice and expertise on best practices. For a full list of NYSTAR’s Innovation Hot Spots and New York State Certified Business Incubators, visit https://esd.ny.gov/certified-business-incubator. Funding for this program was included in Round XII of the Regional Economic Development Council Initiative. The REDC process continues to support and empower regional stakeholders in developing strategic plans and funding priorities that meet local economic needs. Regional Councils reviewed projects from this program and provided scores that reflect how well a project aligns with a region’s goals and strategies. Applicants utilized the New York’s Consolidated Funding Application, the state’s single application for state resources, which includes programs for numerous agencies. It is designed to provide expedited and streamlined access to a combined pool of grant funds and tax credits from dozens of existing programs. A full list of Round XII awards that have been made can be found here. About the Consolidated Funding Application                 The Consolidated Funding Application was created to streamline and expedite the grant application process. The CFA process marks a fundamental shift in the way state resources are allocated, ensuring less bureaucracy and greater efficiency to fulfill local economic development needs. The CFA serves as the single-entry point for access to economic development funding, ensuring applicants no longer have to slowly navigate multiple agencies and sources without any mechanism for coordination. Now, economic development projects use the CFA as a support mechanism to access multiple state funding sources through one application, making the process quicker, easier, and more productive. Learn more about the CFA here.    About the Regional Economic Development Councils     The Regional Economic Development Council initiative is a key component of the State’s approach to State investment and economic development. In 2011, 10 Regional Councils were established to develop long-term strategic plans for economic growth for their regions. The Councils are public-private partnerships made up of local experts and stakeholders from business, academia, local government, and non-governmental organizations. The Regional Councils have redefined the way New York invests in jobs and economic growth by putting in place a community-based, bottom-up approach and establishing a competitive process for State resources. Learn more at regionalcouncils.ny.gov.    About the Empire State Development Empire State Development 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 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: Kristin Devoe (ESD): [email protected] | 518-414-1087 ESD Press Office: [email protected] 
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Press Release

Wednesday, December 14, 2022 - 3:27pm
Eleven Downtown Revitalization Projects Enhance Its Vibrant Cultural and Arts Scene, Housing Opportunities, Community Services and Streetscape Walkability and Connectivity $10 Million DRI Investment in Round 5 is Part of a Strategic Goal to Enrich the Community and Upstate Economy Renderings of Projects Available Here Governor Kathy Hochul today announced 11 transformational projects in the Village of Tannersville as part of the $10 million Downtown Revitalization Initiative Award. The Awards will leverage the community's rich historic, culture, and natural resources.    "Earning the nickname of the Painted Village in the Sky for its vibrantly colored buildings and pristine natural environment, Tannersville is already a must-visit destination for art and nature lovers," Governor Hochul said. "This strategic investment will not only enhance the town's natural charm and attract more visitors but will also provide current and future local residents with more affordable housing options, retail and commercial opportunities, and improved mobility for pedestrians and cyclists." Tannersville is a small community of approximately 550 people situated in the Catskills Forest Preserve with convenient access to miles of pristine wilderness within the Catskill Park, which makes the Village a gateway to the great outdoors in Greene County. The Tannersville revitalization is focused on creating new affordable housing, expanding community services, increasing arts and cultural amenities and improving streetscape walkability and connectivity, among others. Through the Downtown Revitalization Initiative (DRI), the Village is rededicating itself to becoming a vibrant four-season recreation and vacation community that is still affordable for local, long-term residents and newcomers.  The investments are part of the Governor's ongoing efforts to revitalize the upstate economy and create more opportunities within the Capital Region. The DRI is led by the Department of State providing 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. Read the full press release here.
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Press Release

Wednesday, December 14, 2022 - 3:24pm
Eleven Downtown Revitalization Projects Enhance Its Vibrant Culture and Arts Scene, Walkability and Connectivity, Housing Opportunities, and Community Services Renderings of Projects Available Here Governor Kathy Hochul today announced 11 transformational projects in the City of Troy as part of the $10 million Downtown Revitalization Initiative Award. The awards will enhance the city's vibrant arts and culture scene, improve walkability, provide better housing opportunities, and expand community services. "Investing in vibrant downtowns allows communities to thrive, and our Downtown Revitalization Initiative in Troy will connect our local partners with the resources they need to succeed," Governor Hochul said. "This funding will not only improve the quality of life for those who live and work in Troy, but also ensure this community remains a gem in the Capital Region for decades to come." At the heart of Troy's downtown, the compact and walkable Riverwalk DRI District contains a large portion of the city's arts, cultural, and entertainment assets, including over one and a half miles of riverfront. This DRI award will allow the City of Troy to build on prior investment, the authentic charm and do-it-yourself spirit of the Riverfront District, and the growing number of residents, visitors, and entrepreneurs to transform the Riverwalk District into a regional center of innovation and talent, with great public places, thriving small businesses, and arts and entertainment venues. Historic buildings and flexible new spaces will offer options to live, learn, and create, and the expanded Riverwalk will connect neighborhoods and provide a clear pathway for investment in South Troy, North Central Troy, and beyond.  The investments are part of the Governor's ongoing efforts to revitalize the upstate economy and create more opportunities within the Capital Region. The DRI is led by the New York Department of State providing 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 projects to be funded through the DRI support several goals and strategies contained in the community's Strategic Investment Plan, such as enhancing the culture and arts scene; improving streetscape walkability, connectivity and vibrancy; expanding housing opportunities; and increasing community services.  The $9.7 million State investment 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.
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Press Release

Tuesday, December 13, 2022 - 5:27pm
New Public/Private Partnership Orientation Center to Improve Visitor Experience Includes Major Painting Project, New Wayfinding Maintenance Facility, Solar, General Site Improvements View Renderings Here Governor Kathy Hochul today announced that Olana State Historic Site will undergo major capital and site improvement projects over the next two years, including construction of the Frederic Church Center for Art and Landscape, a new entry and orientation facility at the historic site in Hudson, Columbia County. The sustainably designed, all-electric Frederic Church Center will be a gateway to all visitors to Olana State Historic Site and is the marquee project of a $25 million investment to the site. "The new projects will build on the legacy of Olana - the visionary home, studio and landscape design of artist Frederic Church and his family," Governor Hochul said. "The Frederic Church Center will add to this canvas and help to welcome patrons to one of the most strikingly beautiful places in New York State." "With these $25 million in improvements, Olana will once again welcome visitors from in and out of our state to take in breathtaking views and education programs," said Lieutenant Governor Delgado. "Thanks to everyone's commitment to this partnership and we invite everyone to come rediscover Olana." The building will include a spacious entry lobby for ticketing and orientation, a café, restrooms, and a multipurpose room adjoining outdoor terraces and paths that connect to Olana's historic carriage road network, making all 250 acres of the historic landscape an integral part of public interpretation. As the principal entry point for a National Historic Landmark and New York State Historic Site that attracts over 200,000 visitors annually, the Frederic Church Center will provide a highly visible, publicly accessible demonstration of sustainable design and carbon neutral construction. Olana was the 19th century home, studio and designed landscape of Hudson River School artist Frederic Edwin Church in Hudson. These major projects are the result of the award-winning Strategic Landscape Design Plan developed in 2015 between New York State Parks, The Olana Partnership, the LA Group, and Nelson, Byrd Woltz Landscape Architects. The plan received the 2017 National Honor Award for Analysis and Planning from the American Society of Landscape Architects. Read the full press release here.
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Press Release

Tuesday, December 13, 2022 - 5:24pm
Eight Downtown Revitalization Projects Will Enhance Streetscapes and Public Spaces, Restore Anchor Buildings, Support Small Business and Create a More Vibrant Downtown $10 Million DRI Investment in Round 5 is Part of a Strategic Goal to Enrich the Community with Key Catalytic Projects Renderings of Projects Available Here Governor Kathy Hochul today announced eight transformational projects in the Village of Massena as part of the $10 million Downtown Initiative Award. The Awards will repurpose blighted buildings, improve public spaces and streetscape connectivity, expand waterfront access and enjoyment and expand commercial and residential opportunities in Massena's historically intact, dense downtown. "We are ushering in a new era for Massena, attracting jobs, businesses, and people and making the community a better place to live and work," Governor Hochul said. "Thanks to this DRI investment, New Yorkers and visitors will be able to enjoy Massena's rich history and lively downtown for decades to come." Massena's revitalization is focused on creating a more walkable, green, vibrant, and connected community. Massena has a long and storied history as one of the first settlements in St. Lawrence County. Like many other Upstate communities, Massena suffered the decline, disinvestment and out-migration from de-industrialization. But with its charm, abundant forestland, waterfront access and inexpensive electric power, the Town has built momentum to redefine and revitalize its downtown, as its vision statement clearly conveys -- "Moving Massena Forward: Proud Past, Promising Future." Through the Downtown Initiative Award (DRI), the Village will transform its downtown by enhancing its streetscapes and public spaces, restoring and reusing key anchor buildings, and supporting small businesses. The investments are part of the Governor's ongoing efforts to revitalize the upstate economy and create more opportunities in the North Country. The DRI is led by the Department of State providing 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 $9.7 million DRI investment will leverage public and private sector investments as the revitalization process proceeds and builds momentum. Read the full press release here.
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Public Notice

Tuesday, December 13, 2022 - 2:00pm
View all grants to be presented at the batch virtual public hearing.
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Public Notice

Tuesday, December 13, 2022 - 2:00pm
View Public Notice View Hearing Instructions
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Press Release

Tuesday, December 13, 2022 - 12:58pm
$6 Million HQ Supports Pandora's Long-Term Growth Plans Project Supports 133 New Full-Time Jobs Governor Kathy Hochul today announced that global jewelry manufacturer Pandora is relocating its North American headquarters to New York City. Pandora, the largest jewelry brand in the world, designs, manufactures, and markets hand-finished jewelry that is sold in more than 100 countries. The company will operate its North American headquarters in a 27,000 square foot office spanning the 35th floor of 1540 Broadway in Times Square. The $6 million relocation will allow Pandora to operate in one of the largest commercial markets in the world. "New York City is a gem in the retail industry, so it's no surprise that the world's largest jewelry brand has chosen to relocate its North American headquarters here," Governor Hochul said. "Pandora will benefit not only from having a foothold in one of the world's largest commercial markets, but from a talented workforce that is as distinctive as their charms. I look forward to welcoming the headquarters to our city, creating new jobs and economic opportunity for New Yorkers." New York City is home to one of the world's premier shopping destinations in the United States. The retail sector is a vital part of New York City's economic landscape, from neighborhood commercial areas to major retail corridors in Manhattan. The opening of Pandora's North American headquarters in New York City marks a strategic next chapter for Pandora as it looks to increase its market share and double its revenue in the United States. A New York City headquarters also enhances Pandora's ability to recruit the talent it needs to implement its plans for growth. Empire State Development is supporting the project with up to $1.5 million in performance-based Excelsior Jobs Program tax credits. This will support the creation of 133 new full-time employees across various teams, including sales, merchandising, marketing, finance, human resources, digital and e-commerce, real estate, legal and operations. In the coming months, the company plans to add three new stores to its nine current locations across Manhattan, Brooklyn, Queens and the Bronx. Empire State Development President, CEO and Commissioner Hope Knight said, "Pandora's move to New York City speaks to the strength and talent of the region's retail industry and workforce. New York's commercial market and diverse talent are vital links in ensuring a glittering future for Pandora. We are proud to support their new North American headquarters, which will add new jobs and economic energy to the retail capital of the world." Read the full press release here.
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