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 more than 50 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 the 100+ economic development-related datasets available at data.ny.gov, access the detailed progress reports published annually by our 10 Regional Economic Development Councils at regionalcouncils.ny.gov, or view the comprehensive archive of public meeting videos and materials published in the ESD Media Center.

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Public Notice

Friday, May 10, 2019 - 1:00pm
Public Notice: Tough Mudder Long Island Capital Project
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Public Notice

Friday, May 10, 2019 - 12:00pm
Public Notice: Century Linen & Uniform Capital Project
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Press Release

Friday, May 10, 2019 - 11:00am
See photos of the Holiday Inn Express Hotel here Empire State Development (ESD) today announced $1 million in Restore NY funding has been provided to Grand Island Hotel, LLC upon the completion of the $8 million Holiday Inn Express Hotel, located in the formerly vacant and blighted Dunlop building on Grand Island.  Redeveloping the former Dunlop building was the highest economic priority for the town when it requested funding to make improvements to the abandoned and heavily vandalized eyesore in an effort to transform the prominent property and encourage economic development at the highly visible location.  Restore NY supports municipal revitalization efforts by awarding funding for projects that will reinvigorate downtowns and generate new economic opportunity in communities from Western New York to Long Island. “The Holiday Inn Express on Grand Island is a boost for tourism in Western New York, and New York State is proud to award funding to make this transformation a reality,” said Lieutenant Governor Kathy Hochul, who made today’s announcement. “Removing asbestos from an old structure is an expensive undertaking. The Restore NY program exists to allow our state government to partner with private industry to benefit communities across New York. This building that has sat vacant for decades as a blight on the community has now been repurposed for the future, creating jobs and economic investment.” ​ “It has taken us a long time to complete this project, but we were driven to transform this well-known building into a point of pride for area residents and a beacon for drawing visitors to the region,” said Jayesh Patel, CEO of Rudra Management and Rosewood Hotels.  “We look forward to serving tourists visiting Niagara Falls, business travelers and families looking to enjoy the region.” ESD implements the Restore NY program. The initiative requires the new owner of the hotel to spend at least $2 million on remediation in order to receive a $1 million dollar Restore NY grant, which in this case was used for asbestos abatement. Cities, towns and villages are all eligible to apply for support for projects that include demolition, deconstruction, rehabilitation or reconstruction of vacant, abandoned, condemned and surplus properties. Projects located in economically distressed communities are emphasized and encouraged. “The old Dunlop building has gone from an abandoned eyesore to a new hotel, a transformative symbol of how Restore NY funding can help to create economic assets from once-blighted properties,” said Empire State Development President, CEO & Commissioner Howard Zemsky. Highly visible from the I-190 between Buffalo and Niagara Falls, the recently opened Holiday Inn Express at 2761 Long Road sits on 27 acres south of the northern set of Grand Island Bridges, just six miles from Niagara Falls State Park and down the road from New York State’s new Welcome Center. Five years of challenging demolition, renovation and design work converted the vacant 73,000-square-foot former Dunlop Building into a unique hotel that includes a breakfast bar, two meeting rooms, a business center, an indoor pool and a fitness room and a rooftop lounge for guests. The hotel is creating approximately 32 jobs. The three-story white building was originally built in the 1960s for Hooker Chemical & Plastics Corp., but Dunlop took it over in the 1970s. It has been vacant since 1993. Rudra Management and Rosewood Hotels purchased the former Dunlop Building in 2014 for $850,000.  The company currently has more than 52 hotels in its portfolio, with most of them located in New York State. Assemblyman Angelo J. Morinello said, “It is a pleasure to participate in the dedication of the Holiday Inn of Grand Island. This building sat here as a mystery for many years without any foreseeable future, however, now it not only has a future, but it also is an asset to the region. This shows what a public and private partnership can accomplish. Thank you to all who made a dream become a reality.” Town of Grand Island Supervisor Nate McMurray said, “This is an amazing change. For decades and decades that location sat as an eye sore, a wreck, a haunted house. Now it’s a beautiful hotel. And the area around it, thanks to a creative public private partnership, has also changed. It was zoned for generations as prime commercial real estate but sat empty. Now, it’s ready for more!” Learn more about Restore NY here.   Contacts: Pamm Lent (Governor’s office) | [email protected] | 716-846-8309 Laura Magee (ESD) | [email protected] | (716) 846-8239 | (800) 260-7313
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Public Notice

Friday, May 10, 2019 - 10:00am
Public Notice: Arkell Museum Strategic Planning Capital Project
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Press Release

Thursday, May 9, 2019 - 3:01pm
New HQ triples the number of individuals exalt Youth can serve annually to 1,000 Project will assist implementation of New York State’s “Raise the Age” legislation Empire State Development and Lieutenant Governor Kathy Hochul today announced that exalt Youth, a non-profit organization that supports workforce development opportunities for young, court-involved New Yorkers, opened its new headquarters in Lower Manhattan. This new, centrally-located facility will allow the organization to better serve more individuals from across all five boroughs. Lt. Governor Hochul joined program graduates to cut the headquarters’ ribbon and tour the new space.  The new facility will allow exalt to expand the number of people it serves annually to approximately 1,000 – roughly tripling its existing level of service. The space includes classrooms, a library-lounge, communal desks, meeting rooms, a drop-in center and offices. The project will also support implementation of New York State’s “Raise the Age” legislation. ESD President, CEO & Commissioner Howard Zemsky said, “Workforce development and economic development go hand-in-hand and we’re proud to support exalt’s expansion, helping to build our economy while building a brighter future for these young New Yorkers.” “Exalt Youth offers life-changing programs to help young people complete their education and re-engage in society,” said Lieutenant Governor Kathy Hochul, who made today’s announcement. “New York is proud to support this expansion project, which will allow exalt to increase capacity and serve every borough. As we work to implement 'Raise The Age,' exalt will be a critical partner to ensure young people involved in the criminal justice system have access to educational opportunities, learn new skills, and secure good-paying jobs.”​​ Gisele Castro, Executive Director of exalt Youth said, “At exalt, we view our interventions as investments, and we are deeply grateful to Governor Cuomo and the NYC Regional Economic Development Council for joining us in that and realizing the completion of this new headquarters. The organization is growing to meet the dire need to move court-involved youth away from the justice system. Our approach to this work is not only a social obligation but also a moral imperative to ensure that our young people—especially those who are most vulnerable—are provided opportunities that free their minds, provide them hope, and allow them to discern a path to a better future.” Founded in 2006, exalt Youth works with individuals between the ages of 15 and 19 who have been involved in the criminal justice system. exalt equips its participants with the tools and experiences they need to achieve personal success and skilled employment through placement in paid internships, career development opportunities, individualized support and a strong alumni network. Within two years after completing the exalt program, 99 percent of participants are enrolled and progressing in school and 95 percent do not recidivate, compared to an average state recidivism rate of 60 percent.  exalt’s programs are voluntary, rather than mandated, and often lead to reduced sentences for participants. During FY2018, exalt served a record-high 174 new students and 194 alumni, added 23 new internship sites, launched a college access pilot program and was awarded the Brooklyn Community Foundation’s Spark Prize. To encourage exalt Youth’s relocation and expansion, ESD offered the non-profit up to $175,000 through a performance-based capital grant, recommended by the New York City Regional Economic Development Council (NYC REDC). exalt planned to spend an estimated $886,000 to renovate and fit-out its new headquarters at 17 Battery Place in Lower Manhattan, expanding their ability to serve New Yorkers from every borough. “Young people in the justice system need assistance and support, and exalt Youth does just that,” said Manhattan Borough President Gale A. Brewer. “Many thanks to Empire State Development for their work in opening this new location, which will allow exalt Youth to expand their reach and help more New Yorkers build a brighter future.” Winston Fisher, Partner at Fisher Brothers and NYC REDC Co-Chair, said, “exalt’s expansion directly supports our goal of inclusive economic growth and will help ensure that the positive benefits of economic development are felt across the five boroughs -- especially in communities and populations where there is the most need.” Cheryl A. Moore, President and Chief Operating Officer of the New York Genome Center and NYC REDC Co-Chair, said, “We’re proud to help exalt advance its mission to equip youth with the tools and experience needed to positively transform their lives. exalt’s critically important work benefits New Yorkers who face the greatest barriers to education and employment.” About exalt Youthexalt is a NYC based 501c3 committed to elevating expectations of personal success for youth ages 15-19 who’ve been involved in the criminal justice system. We inspire youth at a critical crossroads to believe in their worth, from the first steps in contemplation through the journey to create lasting behavioral change. Our powerful combination of structured classes for tangible skill development, individualized support to navigate the education and justice systems, placement in paid internships and an alumni network of resources equips youth with the tools and experience to avoid further criminal justice system involvement. At exalt, we empower youth to see a future filled with hope – and we provide the road map to get there. Click here for our newest video. 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 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: Jack Sterne | [email protected] | (212) 803-3764 ESD Press Office | [email protected] | (800) 260-7313
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Press Release

Thursday, May 9, 2019 - 1:00pm
Governor Andrew M. Cuomo today announced the groundbreaking of the Taystee Lab Building, an 11-story, 350,000 square foot LEED-Certified Class-A property in West Harlem that will serve as a state-of-the-art home for companies and organizations in the life sciences, technology, academia, non-profit and arts sectors in the burgeoning Manhattanville Factory District. Developed by Janus Property Company, the new building will be the anchor of the district, which stretches from West 125th Street to West 128th Street and includes both new construction and the redevelopment of former industrial buildings. This project furthers Governor Cuomo's goal of fostering inclusive economic growth in communities across the state. "Harlem has an incredible history and is also in the midst of an exciting renaissance, and this new building will be an important investment in the neighborhood's future," Governor Cuomo said. "The Taystee Building will provide state-of-the-art life sciences labs and educational organizations with a home just steps from all the best sites this neighborhood has to offer." "Harlem is full of culture and diversity, and we are committed to investing in projects to continue the momentum of growth in the area," said Lieutenant Governor Kathy Hochul, who made today's announcement. "The new Taystee Lab Building will anchor the Manhattanville Factory District and be the home of innovative companies and organizations focused on life sciences and technology. This development complements other institutions and projects in the area, continuing the transformation and building the economy of the future."  Read the complete press release here.
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Press Release

Thursday, May 9, 2019 - 11:25am
Empire State Development today announced that Philips Medical Systems MR, Inc. plans a multi-million-dollar investment to expand its current operations in Latham, Albany County. The company has committed to create 94 new jobs at this location, which serves as a magnetic resonance component manufacturing plant. This expansion furthers the Capital Region’s strategy of supporting the life sciences and advanced manufacturing industries, and advances the region as a cutting-edge medical research and technology hub. ESD President, CEO and Commissioner Howard Zemsky said, "Philips' decision to expand its high-tech manufacturing footprint is a testament to the Capital Region’s skilled talent pool and our strategic investments in life sciences and advanced manufacturing that will support the industry’s long-term growth in the area." Philips is planning a $13.2 million investment to build, equip and outfit an expansion to its facility on Old Niskayuna Road. To secure this investment for the Capital Region, Empire State Development has agreed to provide up to $1 million in performance-based Excelsior Jobs Program tax credits for the retention of more than 400 positions and the creation of 94 jobs over five years. Michael Morich, Philips Medical Systems MR, Inc. Business Leader and Head of Research & Development said, "We are excited to expand our operations in Latham, which will ultimately benefit our customers, our business and the community, and we are thankful to the Excelsior program for its support. Philips is a leading developer and manufacturer of Magnetic Resonance Imaging systems. We are proud to be in this field and operating our MR components business in the Latham community." Senator Neil Breslin said, "Today’s announcement is great news for the Capital Region, and especially the greater Colonie area. My thanks to Empire State Development and Philips Medical Systems for working together to create jobs and expand advanced manufacturing in the region." Assemblymember Phil Steck said, "Philips is a vital member of the Capital Region's advanced manufacturing industry, and this announcement is a significant investment in our local economy and workforce. I thank Empire State Development for supporting this project and helping to create jobs in Albany County, and look forward to celebrating the many milestones to come." Albany County Executive Daniel P. McCoy said, "By investing to expand its Albany County footprint, Philips is creating jobs that will invite more families to see why the Capital Region is the perfect place to live, work and play. Projects like this further promote our region globally as a hub for skilled workers and world-class manufacturing." Colonie Town Supervisor Paula A. Mahan said, "We are very pleased with the expansion plans for Philips Medical Systems here in the Town of Colonie. With the competitiveness of their industry, it is a wonderful opportunity for the Town to be selected for the expansion site.  This proves that the State of New York, the Capital Region and the Town of Colonie have the right qualities to compete in a global market." Latham-based Philips Medical Systems MR, Inc. was founded as Intermagnetics General Corporation in 1971 and was acquired by Philips in 2006. Based in the Netherlands with U.S. headquarters in Massachusetts, Philips employs approximately 77,000 employees globally, with sales and services in more than 100 countries. 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, visit www.regionalcouncils.ny.gov and www.esd.ny.gov.   Contact: Adam Ostrowski | [email protected] | (518) 292-5148 ESD Press Office | [email protected] | (800) 260-7313  
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Report

Thursday, May 9, 2019 - 11:09am
The Linked Deposit Program (LDP) was created to encourage and assist New York State manufacturers and small businesses to undertake investments that improve performance and competitiveness, leading to a stronger economy for New York State. Since the program’s inception in 1994, LDP has lowered the interest rate for over 5,680 loans, resulting in $1.93 billion in bank lending and leveraging $4.03 billion in new capital investment by businesses across New York State. Read the annual LDP report for 2018 here:  Linked Deposit 2018 Annual Report
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Public Notice

Thursday, May 9, 2019 - 10:00am
Public Notice: Glimmerglass Opera Theatre Capital Improvements Project
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Public Notice

Thursday, May 9, 2019 - 10:00am
Velan Studios Capital Project
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