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
Thursday, January 5, 2023 - 2:00pm
Venue Will Host Curling Competitions During Upcoming Lake Placid 2023 World University Games
Revitalized Facility Enhances Regional Sports Infrastructure to Support Future Events, Complements State Investments in ORDA Facilities
Games Happening January 12-22 Throughout North Country; Tickets Available Here
Governor Kathy Hochul today announced the completion of the nearly $7 million upgrade project at Saranac Lake Civic Center in Franklin County. The year-round, not-for-profit recreation and events facility underwent significant interior and exterior improvements, and the completion coincides with the upcoming Lake Placid 2023 FISU World University Games beginning January 12, and the Center will host the Games' men's and women's curling competitions. The project was supported by more than $5 million in Upstate Revitalization Initiative funds from Empire State Development, through the North Country Regional Economic Development Council.
"As New York's North Country welcomes visitors from around the globe for the World University Games, we have a unique opportunity to showcase our world-class competitive winter sports facilities with the upgraded Saranac Lake Civic Center," Governor Hochul said. "The upgraded Civic Center will not only provide an optimal experience for curlers and fans, but it will also bolster future generations of youth sports groups, our local communities and the entire North Country region."
Empire State Development President, CEO and Commissioner Hope Knight said, "As the Lake Placid 2023 FISU World University Games draw closer, we are excited to celebrate the completion of the revitalized Saranac Lake Civic Center. The Center is a vital community partner, and the upgrades will ensure that it remains a premier winter sports and event venue for years to come."
The nearly $7 million capital project included interior and exterior renovations, as well as energy efficiency, fire and safety improvements. Rink improvements ensured that the ice surface meets world class competition standards. Additional upgrades to kitchen, locker room facilities and spectator seating offer a better athlete and visitor experience, and better position Saranac Lake to attract future events, enhancing the regional sports competition infrastructure. The project coincides with the North Country Regional Economic Development Council's strategy of strengthening the region's global sports brand by attracting international sporting events that would stimulate private investment and job growth and catalyze the renovation of the area's sports and hospitality facilities.
Read the full press release here.
Press Release
Thursday, January 5, 2023 - 12:30pm
Program Will Invest Up To $250,000 in Early-Stage Startup Companies With Matching Funds From Private Sector
Part of New York's $500 Million Federal Funding Allocation to Support Small Businesses, Particularly in Traditionally Underserved Communities
Applications and Program Information Available Here
Governor Kathy Hochul today announced the launch of the $30 million Pre-Seed and Seed Matching Fund Program, which will offer early-stage start-up companies $50,000 to $250,000 in growth assistance which they will match with funds from private sector co-investors. The program will support the development of businesses in high-growth industries and the creation of 21st century jobs. Funding for the program comes from the State Small Business Credit Initiative, part of the federal American Rescue Plan, to support small businesses, especially those owned by socially and economically disadvantaged individuals and very small businesses which traditionally do not receive sufficient access to capital or support.
"For early-stage startup companies, access to capital is critical to ensuring the vitality of those businesses and sustaining them in the long term," Governor Hochul said. "The Pre-Seed and Seed Matching Fund Program will help these businesses gain their footing and create the jobs of the future while expanding access to funding in traditionally underserved communities. I thank our federal partners for helping to secure this funding and extending a lifeline to New York's small business ecosystem."
Empire State Development President, CEO and Commissioner Hope Knight said, "Even companies that are a household name now, started out as just an idea. Through the Pre-Seed and Seed Matching Fund Program, we will target promising startups and very small businesses and ensure that these good ideas become a reality in New York State, especially in traditionally underserved populations and markets."
The Program is managed through Empire State Development's NY Ventures, the state's venture capital arm, and will be focused on technology markets including advanced manufacturing, agricultural tech, climate tech, consumer tech, data/SaaS/AI, fintech, healthcare, Life Sciences and BioTech, and medical devices. Pre-seed funds are typically the hardest venture capital funds to access for new high-growth businesses, which is why NY Ventures is offering them through this program. To qualify, applicants must have raised less than $2 million of dilutive funding to date. All applicants must be registered to do business in New York State and agree to create economic impact in New York by having headquarters and at least one C-suite employee in state.
Read the full press release here.
Report
Friday, December 30, 2022 - 5:28pm
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Report
Friday, December 30, 2022 - 4:22pm
The Restaurant Return-To-Work Tax Credit Program incentivized COVID-impacted restaurants to bring restaurant staff back to work and to increase hiring at NYS restaurants.
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Press Release
Thursday, December 29, 2022 - 3:07pm
Two $50 Million RFAs Are Part of Broader Strategy To Develop and Strengthen Long Island's Economic Competitiveness
Interested Applicants Can Learn More and Apply Here
Governor Kathy Hochul today announced two Requests for Applications as part of the $350 million Long Island Investment Fund. Empire State Development will issue one RFA for the creation of a Life Science Accelerator Program and one for the creation of Workforce Development Training Centers. These Long Island Investment Fund RFAs present an opportunity to supercharge the growing life sciences ecosystem in the region and build on Governor Hochul's vision of supporting regional workforce development plans that provides in-demand skills and direct job placement.
"My administration continues its commitment to supporting the groundbreaking innovation and workforce development that keeps New York State on the cutting edge through its many regional strengths, including Long Island's life sciences leadership," Governor Hochul said. "The Long Island Investment Fund will expand opportunity by accelerating development of early-stage companies that will transform the area's industry landscape and targeting workforce training to meet the needs of high-growth employers. Through these partnerships, we are helping to fill critical roles by preparing New York job seekers for careers of the future."
Included as part of Governor Hochul's FY 2023 Enacted Budget, the Long Island Investment Fund has three components: $250 million to support transformative projects, $50 million to support an accelerator program with a venture competition, and $50 million to support workforce development. To date, more than $55 million out of $250 million has been allocated on projects that will support and grow the regional economy, enhance communities, and have positive long-term impacts across the region. The two $50 million RFAs being announced today, sponsoring the development of an accelerator program and supporting workforce development, demonstrate an important step forward in delivering on Governor Hochul's vision to strengthen the region's future by fostering the growth of commercialization in Long Island's life science research corridor and build the foundational infrastructure needed to support the region's talented workforce and needs of regional industries.
Empire State Development President, CEO and Commissioner Hope Knight said, "With today's announcement, New York is laying the groundwork to build upon State investments to Long Island's life science ecosystem and regional workforce needs. Under Governor Hochul's leadership, the Long Island Investment Fund will prepare the region's workforce of tomorrow and supercharge Long Island as a hub of technology and innovation."
Empire State Development Board Chairman Kevin Law said, "Long Island is where innovation and opportunity intersect. Through Long Island Investment Fund RFAs announced today, we are going to transform the region's life science corridor and create opportunities for a better future for residents and businesses for generations to come."
Read the full press release here.
Press Release
Wednesday, December 28, 2022 - 1:57pm
Eight Projects Across the State Will Leverage More Than $4 Million in Public/Private Funding, Support Nearly 3,000 Trainees for Over 100 Business Partners
Governor Kathy Hochul today announced the New York State Office of Strategic Workforce Development has awarded more than $6 million in grants to eight projects across the state through the first round of the Capital and Pay for Performance Grant Programs. These grants will support the training of nearly 3,000 workers through collaboration between training providers and more than 100 employer partners in fields like advanced manufacturing, information technology, and film and television. The Office, which operates under Empire State Development, is charged with supporting workforce development programs and practices to ensure New Yorkers are prepared to meet the needs and priorities of today's employers.
"New York State is making bold, strategic investments in our economy that are attracting and growing companies in New York, and we are laser-focused on ensuring that we have ready and able workers to fill these jobs of the future," Governor Hochul said. "Our new Office of Strategic Workforce Development will help reduce barriers to training and employment while supporting businesses with their workforce needs. This funding is just the beginning of our investment in developing a strong and diverse workforce for decades to come."
Governor Hochul first proposed the new Office of Strategic Workforce Development in her State of the State address and established the office in April 2022 to better meet the needs of industry and create career opportunities for New Yorkers.
Read the full press release here.
Report
Thursday, December 22, 2022 - 12:46pm
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Press Release
Thursday, December 22, 2022 - 12:35pm
Eight Downtown Revitalization Projects Will Improve Walkability and Connectivity; Enhance Housing and Employment Opportunities; and Expand Community Services and Cultural Amenities
Project Renderings Available Here
Governor Kathy Hochul today announced eight transformational projects in the Village of Endicott as part of the $10 million Downtown Revitalization Initiative Award. The Awards will attract businesses, create jobs and grow the workforce to expand the local innovation economy.
"My administration is committed to revitalizing New York's downtowns and ensuring businesses have the resources needed to thrive in their local communities," Governor Hochul said. "These projects will uplift the local economy of Endicott while expanding community services and cultural amenities that will bring the community together and spur economic development for generations to come."
The Village of Endicott is experiencing an influx of advanced manufacturing businesses, which has brought with it more people and jobs that can contribute to the downtown's vibrancy. The DRI area brings together four distinct areas of downtown—the Downtown Core; the Huron Campus; Little Italy; and the Western gateway. Endicott's DRI investments will strengthen connectivity between the downtown Core and surrounding neighborhoods and establish a strong sense of place to ensure that these areas function as an integrated downtown community.
The DRI investments are part of the Governor's ongoing efforts to revitalize the upstate economy and create more opportunities within the Southern Tier. The DRI is led by the Department of State, which provides 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 specific projects to be funded through the DRI support several goals and strategies contained in the community's Strategic Investment Plan, such as - improving streetscape walkability and connectivity; enhancing business and housing opportunities by redeveloping existing properties and vacant spaces; and expanding community services and cultural amenities. The $9.7 million State investment in these projects through the DRI will leverage additional public and private investments as the revitalization process proceeds and builds momentum.
Read the full press release here.
Press Release
Thursday, December 22, 2022 - 12:28pm
"Unlocking Opportunity" Report Summarizes Commission's Findings, Provides Short- and Long-Term Recommendations To Lay Groundwork for Successful Prison Redevelopment
Read the Commission Report Here
Governor Kathy Hochul today released the recommendations of the New York Prison Redevelopment Commission, a 15-member panel convened by the Governor earlier this year to reimagine closed prisons across New York State for innovative redevelopment. The recommendations were unveiled in Unlocking Opportunity: The Report of the Prison Redevelopment Commission, a 140-page report that includes detailed site analyses of 12 closed prisons and considers redevelopment opportunities for each site to help them better serve the State's economic needs.
"As we continue to move New York's economy forward, we are investing in communities across the state, including reimagining closed prison properties as hubs of regional opportunity," Governor Hochul said. "I am pleased that the Commission has done their due diligence and made these recommendations based on community input to create jobs, save taxpayer money, and bring these buildings to new life as economic engines.
Empire State Development President, CEO, and Commissioner Hope Knight said, "I am proud to have co-chaired this Commission and of the work that has been done to compile this comprehensive report on the future development of our unused and underused prison facilities. The Commission's work, supported by extensive research and stakeholder engagement, has produced workable and realistic recommendations that will help shape a roadmap for impacted communities to follow well into the future."
Read the full press release here.
Press Release
Thursday, December 22, 2022 - 12:25pm
Nine Downtown Revitalization Projects Enhance Business and Housing Opportunities; Improve Streetscape Walkability and Public Spaces; and Expand Arts and Cultural Amenities
Project Renderings Available Here
Governor Kathy Hochul today announced nine transformational projects in the City of Norwich as part of the $10 million Downtown Revitalization Initiative Award. The Awards will leverage the community's rich historic, cultural and natural resources, attracting residents and visitors to downtown.
"The Downtown Revitalization Initiative aids localities in making strategic investments that allow communities across New York State to flourish," Governor Hochul said. "These projects will assist in transforming Norwich's downtown area and enhance daily life for those who live, work and shop there. It will also provide Norwich with the jumpstart it needs to deliver on job creation and further stimulate the local economy."
The City of Norwich is the major population center in Chenango County and a hub for commerce, education, services and tourism. Norwich's revitalization is focused on adaptive reuse of historic buildings, enhancing the public realm, park spaces and the arts, promoting connectivity and attracting commuters to live and tourists to visit downtown.
The investments are part of the Governor's ongoing efforts to revitalize the economy and create more opportunities within the Southern Tier Region. The DRI is led by the Department of State, which provides 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 specific projects to be funded through the DRI support several goals and strategies contained in the community's Strategic Investment Plan, such as - enhancing business and housing opportunities by redeveloping and repurposing existing buildings; improving streetscape walkability and public spaces; and expanding arts and cultural amenities. The $9.7 million State investment in these projects through the DRI will leverage additional public and private investments as the revitalization process proceeds and builds momentum.
Read the full press release here.