Empire State Development Reports

$2.2 Million in State Funding Supports Expansion of Headquarters and 100 New Jobs Strengthens New York City as Hub for Technology and Innovation Governor Kathy Hochul today announced that Manhattan Telecommunications Corporation, a global communications solution provider for businesses worldwide, is investing $3 million to extensively renovate its 55 Water Street headquarters in New York City. As part of its growth plans, MetTel has committed to creating at least 100 new full-time jobs in software development and professional services while retaining 180 full-time jobs, supported by up to $2.2 million in performance-based Excelsior Jobs Program tax credits from Empire State Development. ESD was joined by the New York City Economic Development Corporation to mark the milestone with a ribbon cutting at MetTel's 55 Water Street headquarters. "New York City stands as a beacon of innovation where creativity flourishes and the entrepreneurial spirit thrives," Governor Hochul said. "The expansion of MetTel serves as a testament to the region's stature as a dynamic tech hub, reaffirming our position at the forefront of innovation, growth, and job creation." Founded in New York City in 1996, Manhattan Telecommunications Corporation (MetTel) has helped businesses and government organizations boost enterprise productivity, reduce costs and simplify operations through automation. These renovations will transform the headquarters into a cutting-edge workspace that fosters collaboration, creativity, and innovation. The company maintains significant operations in New Jersey, Utah, and Rhode Island which were also considered for this expansion project, in addition to a proposed new location in Florida. Mayor Eric Adams said, "MetTel is a true New York City company - born and raised here - and I am so thrilled they are staying here. This public-private partnership is creating the jobs of tomorrow, unlocking technology that will help millions of New Yorkers, and supporting the entire city's recovery by hiring an additional 100 employees. Our administration is revitalizing commercial corridors, filling vacant storefronts, and investing in key growth industries — and we have regained 99 percent of jobs lost during the pandemic, because New York City is the place to build your economic future." Empire State Development President, CEO and Commissioner Hope Knight said, "ESD is proud to support the expansion of MetTel, a shining example of a company grown in the heart of New York City's vibrant tech sector. Our city's dynamic environment and access to top-tier talent have propelled MetTel's growth and innovation. This expansion demonstrates the power of New York City as a catalyst for success in the tech industry and we are thrilled that MetTel will continue to grow its legacy in the Empire State." Read the full press release here.

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In-Person Events to Empower Minority and Women-Owned Businesses to Build Connections and Compete for State Contracts Information and Registration Can be Found Here Governor Kathy Hochul today announced that New York State will host three events as part of the 2023 New York State Minority and Women-Owned Business Enterprise Regional Opportunities Expo Series. The expos — which will connect Minority and Women-Owned Business Enterprise with New York agencies and authorities, expert resources, information on State projects and tools to access State contracting opportunities — will take place in Brooklyn on June 20, in Syracuse on June 28, and in Buffalo on July 13. "New York draws strength from its diversity, and it is a priority for my administration to ensure that businesses from every corner of our state are provided the opportunity to thrive," Governor Hochul said. "Through these informative events, we are forging powerful connections both among MWBEs and between MWBEs and the State, empowering these businesses with essential resources and relationships to succeed." The 2023 New York State MWBE Regional Opportunities Expo Series, sponsored by Empire State Development's (ESD) Division of Minority and Women's Business Development, will provide Minority and Women-Owned Business Enterprise's (MWBE) with the resources necessary to successfully secure State contracts through interactive sessions, engaging panel discussions, and capacity-building workshops. By harnessing the knowledge shared by industry experts and connecting directly with procurement officers, MWBEs will gain a wealth of understanding, strategic guidance, and valuable connections. The expos will also include information about State-sponsored financial and technical assistance programs, including the MWBE Business Growth Accelerator Program, the MWBE Bridge to Success Loan Program, and the New York State Small Business Credit Initiative. Key exhibitors include the New York Power Authority, the Dormitory Authority of the State of New York, the New York State Department of Health, New York State Thruway Authority, The City University of New York, The State University of New York, the New York State Department of Transportation, New York State Department of State, New York State Department of Agriculture & Markets and the New York State Department of Transportation, as well as other State transportation, construction and education agencies and authorities with billions of dollars in opportunities. Empire State Development President, CEO and Commissioner Hope Knight said, "Fairness and equity lie at the heart of a thriving economy, and in the Empire State, we stand firm in our commitment to leveling the playing field for MWBEs. By ensuring an equal opportunity for these businesses to compete for New York State contracts, we can tap into the boundless potential of our diverse entrepreneurial community." Read the full press release here.

Small Businesses with 100 or Fewer Employees May Receive Tax Credits for COVID-19-Related Costs  Empire State Development today announced that the application deadline for Empire State Development’s (ESD) $250M COVID-19 Capital Costs Tax Credit Program has been extended to September 30, 2023. New York State small businesses that made investments to comply with emergency orders and regulations in response to COVID-19 can apply for a refundable tax credit of up to $25,000. Governor Hochul announced the launch of the program on October 25, 2022 and secured an extension of the program’s application deadline through September as part of the FY 2024 Budget. Empire State Development President, CEO and Commissioner Hope Knight said. “By extending the application deadline for the COVID-19 Capital Costs Tax Credit Program to September 30th, we are expanding the reach of our support, ensuring that more New York small businesses receive the financial relief they need to bounce back and thrive once again”. Small businesses with qualifying COVID-19-related expenses are eligible for a refundable tax credit of up to $25,000 based on qualifying expenses of $50,000. Qualifying expenses are related to building upgrades, structural changes, or supplies to comply with public health or other emergency-related orders and regulations to increase public safety through infectious disease mitigation during 2021 and 2022. Expenses can also include hand sanitizer stations, supplies to disinfect against COVID-19 transmission, equipment for social distancing, air purifiers, contactless point of sale equipment and more.  Businesses independently owned and operated in the State of New York with less than 100 full-time employees and gross receipts of less than $2.5 million are eligible.  Applicants and qualifying businesses can expect the following: To fill out a pre-screening questionnaire to confirm their eligibility An online application portal available in 68 languages Access to multilingual application assistance via phone, text, and email To present proof of expenses and other supporting documents A tax credit certificate to submit to the Department of Taxation and Finance when filing a tax return Applications will be open until September 30, 2023. Small businesses are encouraged to apply through the pre-screening tool. If businesses receive a tax credit certificate in 2023, they can claim the credit on their 2023 tax return.  To learn more about eligibility and qualifying expenses, visit www.esd.ny.gov/covid-19-capital-costs-tax-credit. Contact: Kristin Devoe: [email protected] | (518) 414-1087 ESD Press Office: [email protected] | (800) 260-7313