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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Public Notice

Thursday, June 15, 2023 - 2:00pm
View all grants to be presented at the batch virtual public hearing.
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Press Release

Tuesday, June 13, 2023 - 4:09pm
Project Brings Historic Buildings in Downtown Back to Life with Commercial and Residential Spaces Photos of Completed Project Available Here; Before Photos Available Here Governor Kathy Hochul today announced the completion of the $12.5 million restoration and redevelopment of the 1915 First National Bank building and adjacent former Siegel's Shoe Store building in downtown Olean as part of the Downtown Revitalization Initiative. The seven story First National building now houses 21 apartments, with commercial, event and art spaces occupying the former bank floor and mezzanine. The two-story former Siegel's Shoe Store building was renovated into class-A office space. New York State, in collaboration with Savarino Companies and local government partners is bringing this historic building located in the heart of Olean back to life. Photos of the completed project are available here, and before photos are available here. "The ribbon cutting for the First National project marks a long-awaited milestone in the redevelopment of Olean's Central Business District," Governor Hochul said. "This historically significant, mixed-use building, which was vacant for nearly 30 years before we tackled its restoration, brings a vibrancy to Olean that will contribute to the city's goals for a walkable, thriving downtown." New York State Secretary of State Robert J. Rodriguez said, "Growth in the City of Olean is well underway, as key projects through the Downtown Revitalization Initiative continue to strengthen the sense of community and improve quality of life for residents, while also attracting new businesses that are spurring economic development. The completion of the First National Bank project puts the City of Olean one step closer to achieving its vision of creating a vibrant downtown community brimming with opportunities for residents and visitors to work, learn and thrive." The Gallery at Olean is First National's largest and most visible tenant. The first new tenant was Casa-Trinity, which provides peer-based counseling and recovery services for those suffering from alcohol and substance addictions. The building's remaining storefront commercial spaces are completed and move-in ready for other tenants who may take advantage of the visible street front space. Read the full press release here.
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Press Release

Tuesday, June 13, 2023 - 4:06pm
$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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Press Release

Monday, June 12, 2023 - 5:43pm
One of the Foremost Modern and Contemporary Art Museums in the World Has Completed the Most Substantial Expansion and Development Project in Its 160-Year History Buffalo AKG Art Museum Includes More Than 50,000 Square Feet of Exhibit Space, Five Classrooms, New Restaurant and Public Green Space, and Community Gathering Space Museum is Projected to Have an Economic Impact of $34 Million Annually for Western New York and Employ 134 Full-Time Employees View Photographs of the Expansion Project Here Governor Kathy Hochul today announced the substantial completion of the Buffalo AKG Art Museum, one of the foremost modern and contemporary art museums in the world. The $195 million expansion, restoration, and renovation project includes the dramatic new three-story Jeffrey E. Gunlach building and the restoration of two other historic buildings on the campus formerly known as Albright-Knox Art Gallery. AKG is projected to increase visitation by more than 30 percent and attract at least 160,000 visitors per year. It is estimated that the region could experience a sustained economic benefit of an additional $34 million per year as a result of the increased tourism. “The breathtaking Buffalo AKG Art Museum is one of the world's finest institutions for modern and contemporary art — showcasing the economic and cultural renaissance Western New York has experienced in recent years,” Governor Hochul said. “Buffalo is very fortunate to have a world-renowned art museum with a reputation that has grown to even greater prominence as it expands its campus and collection of works. The new building and campus are a dramatic work of art that will attract visitors and support the regional tourism economy for decades to come.” Read the full press release here.
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Public Notice

Monday, June 12, 2023 - 5:00pm
View Public Notice Amended General Project Plan Public Hearing Instructions
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Report

Wednesday, June 7, 2023 - 1:49pm
View Report
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Press Release

Tuesday, June 6, 2023 - 2:00pm
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.
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Press Release

Tuesday, June 6, 2023 - 12:30pm
New York State Council on the Arts’ Capital Projects Fund Will Support Transformative Projects at 19 Arts and Cultural Organizations Also Announces Groundbreaking for Storm King Art Center Redevelopment to Enhance Visitor Experience and Protect the Safety of Staff and Artwork Part of Governor’s Historic Investment of $150 Million in Capital Projects for New York’s Arts and Cultural Institutions to Facilitate Large-Scale Placemaking and Community Development Projects Governor Kathy Hochul today announced a record $90.5 million in funding for large-scale capital projects at 19 arts and cultural organizations across New York State through the New York State Council of the Arts Capital Projects Fund. The announcement, which follows a $42 million investment in small and mid-sized capital projects announced in April, is part of the Governor’s historic $150 million investment in capital improvements for the arts. Governor Hochul announced the new funding at the groundbreaking for the campus-wide improvement project at Storm King Art Center, a 500-acre outdoor museum in the Mid-Hudson Region and a $7.5 million NYSCA Large Capital Improvement Grants recipient. "From New York City to the North Country, we are investing in our state's robust arts and culture sector to ensure all New Yorkers, regardless of their background, have access to the transformative power of art," Governor Hochul said. "Our unprecedented support for this shared vision of accessible and sustainable cultural spaces will result in a stronger economy, more jobs, and improved community and personal health for New Yorkers and our visitors from around the globe.” Read the full press release here.
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Press Release

Monday, June 5, 2023 - 11:57am
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
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Press Release

Monday, June 5, 2023 - 11:15am
Stadium Project Marks Largest Economic Development Project in Western New York History – With an Estimated 30-Year Economic Impact of $1.6 Billion Construction on New 60,000-Seat Facility Expected to Complete in 2026 Project Will Create 10,000 Union Labor Construction Jobs Through Project Labor Agreement Project Renderings Available Here Governor Kathy Hochul, Buffalo Bills owner Terry Pegula, Erie County Executive Mark Poloncarz, and NFL Commissioner Roger Goodell today announced the start of construction on the Bills’ new, state-of-the-art $1.54 billion stadium in Orchard Park. The new 60,000-seat facility, designed by the Bills in conjunction with Legends and the architectural firm Populous, marks the largest economic development project in Western New York history with an estimated 30-year economic impact of $1.6 billion and the creation of 10,000 union construction jobs. Construction on the new stadium is expected to be complete in 2026. Project renderings can be viewed here. “As a native Buffalonian and a life-long Bills fan, I know how much this team means to this city and region as a whole,” Governor Hochul said. “As we break ground on a beautiful new stadium, we’re celebrating a new era for this region and for tens of thousands of New Yorkers who stand to benefit. With this project, the Bills — and New York State — are making a lasting commitment to the people of Western New York.” Read the full press release here.
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