Regeneron: a global leader in biotech innovation
How does a biotechnology firm become a global leader, with multiple medications on the market and a solid reputation for innovative solutions that help it break through...
Regeneron: a global leader in biotech innovation
How does a biotechnology firm become a global leader, with multiple medications on the market and a solid reputation for innovative solutions that help it break through...
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Board Meeting
Thursday, June 27, 2019 - 9:30am
Press Release
Wednesday, June 26, 2019 - 4:27pm
Parcel is a Much-Anticipated Premier Development Opportunity in New York City
Proposals due by September 20, 2019 - See RFP Here
Governor Andrew M. Cuomo today announced the request for proposals to develop World Trade Center Site 5, one of the last two remaining undeveloped World Trade Center parcels, is now open. Located directly south of Liberty Park, the 33,000 square foot lot in the heart of the Financial District is accessible from more than a dozen subway lines and the PATH train system, making it an exceptional opportunity for new development in Lower Manhattan. This announcement furthers Governor Cuomo's efforts to strengthen New York's economy and continue Lower Manhattan's recovery from the September 11 attacks.
"Nearly eighteen years ago, New Yorkers vowed to rebuild Lower Manhattan stronger than ever, and with the request for proposals now open for World Trade Center Site 5, we are continuing to make good on that promise," Governor Cuomo said. "This project will create jobs, spur economic growth and bring us one step closer to completing Downtown's rebirth, reflecting New York's courage and determination in the face of this tragedy."
The site was previously home to the Deutsche Bank Building, which was extensively damaged in the World Trade Center attack. The Lower Manhattan Development Corporation (LMDC), a subsidiary of Empire State Development, purchased the site in 2004 and completed deconstruction, abatement and excavation in 2011 - work which was funded by a U.S. Department of Housing and Urban Development grant. LMDC and the Port Authority of New York and New Jersey are jointly issuing the Site 5 Request for Proposals (RFP), seeking a development team to lease or purchase and redevelop the site with a commercial or mixed-use project. The RFP calls for proposals of a development up to 1.345 million zoning square feet and 900 feet in height, with a submission deadline of September 20, 2019.
Read the complete press release here.
Board Meeting
Wednesday, June 26, 2019 - 4:00pm
With videoconferencing to:
The New York State Department of Labor
State Campus – Building 12
Albany, NY 12240
The New York State Department of Agriculture and Markets
10B Airline Drive
Albany, NY 12235
Press Release
Wednesday, June 26, 2019 - 2:50pm
Pictures available here
The USA Niagara Development Corporation Board of Directors (USAN) met today and voted to provide NFNY Hotel Management LLC with a $1 million grant for upgrades it made to transform the former Days Inn hotel on Main Street in Niagara Falls into a Wyndham Garden Inn hotel, adding new rooms, remodeling existing rooms and upgrading hotel amenities. The $6.5 million renovation project provides new quality lodging for visitors to Niagara Falls, which is consistent with the tourism development objectives of USAN. The project creates 35 new full-time equivalent employees and retains 65 existing full-time permanent employees.
“Just a few years ago, Niagara Falls was not fully capturing its tourism opportunities,” said USA Niagara Development Corporation Chairwoman Francine DelMonte. “Today, with an influx of new and renovated quality accommodations, we are filling the need for downtown lodging, creating new jobs and maximizing the city’s potential. The Wyndham Garden Inn adds to a top-notch visitor experience in downtown Niagara Falls.”
USAN is committed to maintaining Niagara Falls as a world-class tourism hub and gateway to New York State. With the construction of best-in-class accommodation amenities, it is now easier for the region to showcase its beauty to visitors from all ends of the globe. These projects help to fulfill the need for additional quality downtown lodging, create new jobs and contribute to the overall beautification and usability of the area.
NFNY’s $6.5 million investment in the 443 Main Street property included the addition of 20 new luxury rooms, the remodel of the 168 existing rooms, exterior signage/lighting improvements, hotel elevator and pool renovations, and the renovation of a new 6,500 square foot hotel restaurant/bar, known as Chill 443.
An industry leader in Niagara Falls for serval years, NFNY, in addition to the Wyndham Garden Inn, currently operates the Sheraton Niagara Falls Hotel, Rainforest Café, TGI Fridays, Starbucks Café, At The Falls Arcade and Sweet Treats Shop. USAN has previously provided NFNY $600,000 in capital grants for the Rainforest Café retail renovation project and the TGI Fridays retail renovation project.
This project furthers New York State’s commitments in Niagara Falls as it works to realize the city’s true potential as a world-class tourism destination. Other projects supported by the State include $70 million in recent renovations to Niagara Falls State Park; more than $73 million dedicated to the removal of underused expressway segments; multiple completed, in-progress and planned hotel projects; the acquisition of several key underutilized properties near Niagara Falls State Park for mixed-use development; and $172 million in public and private development in downtown Niagara Falls completed under Governor Andrew M. Cuomo with an additional $264 million in projects underway and proposed.
About USA Niagara Development Corporation
USAN, a subsidiary of Empire State Development, is solely dedicated to the support and promotion of economic development initiatives in Niagara Falls by leveraging private investment and encouraging growth and renewal of the tourism industry in the City of Niagara Falls. For more information, visit here.
Contact:
Pamm Lent | [email protected] | (716) 846-8309 | (800) 260-7313
Laura Magee | [email protected] | (716) 846-8239 | (800) 260-7313
Board Meeting
Wednesday, June 26, 2019 - 2:00pm
With videoconferencing to:
Empire State Development
633 Third Avenue, 36th Floor
New York, NY 10017
Press Release
Tuesday, June 25, 2019 - 5:23pm
Governor Andrew M. Cuomo today announced that Ross Precision Manufacturing, an affiliate of Ross Valve Manufacturing Company and RW Gate Company located in Troy, Rensselaer County, has acquired the Green Island operations of LAI International, formerly known as Zak, Inc. Ross Precision Manufacturing plans to invest $2.5 million to acquire the business, which will create 50 new jobs at the Tibbits Avenue facility.
"Through strategic partnerships and investments, companies like Ross Precision Manufacturing are expanding across New York State," Governor Cuomo said. "With the jobs created through this new acquisition, this long-standing Capital Region manufacturer will continue to help drive the area's economy forward for years to come."
"This acquisition and expansion of Ross Precision Manufacturing is a testament to the growth of the tech industry in the Capital Region," said Lieutenant Governor Kathy Hochul. "The investment by the manufacturing company will add 50 jobs in the area, create opportunities for residents and continue to strengthen the economy of Tech Valley and beyond."
Read the complete press release here.
Press Release
Friday, June 21, 2019 - 1:19pm
Empire State Development (ESD) today announced that Flomatic Corporation, a worldwide leader in water valve manufacturing located in Glens Falls, Warren County, has completed a $3.3 million expansion. The nearly 20,000 square foot addition encompasses all aspects of valve manufacturing, research, development and testing. The company has committed to add 15 new jobs as part of this project.
ESD President, CEO and Commissioner Howard Zemsky said, "Flomatic’s expansion is a great example of the public-private partnerships that are helping companies to grow and create jobs across New York State."
Flomatic manufactures high-quality valves primarily used for domestic and municipal water and wastewater applications. The company invested $3.3 million to build and equip a nearly 20,000 square foot expansion, including 15,000 square feet of manufacturing space. A new epoxy coating operation will increase capacity to nearly triple the company's output and will allow larger valves to be automatically processed for faster customer turnaround.
The investment included the purchase and installation of machinery, equipment, and a 10,000-gallon product testing tank as part of a state-of-the-art research and development lab. As part of this project, the company has committed to adding 15 new jobs, with nearly five positions already created. To encourage and support the expansion, ESD has agreed to provide a capital grant of up to $350,000, and up to $300,000 in performance-based Excelsior Jobs Program tax credits. These awards were recommended by the Capital Region Economic Development Council during Round VII of the Regional Council initiative.
Flomatic President and CEO Bo Andersson said, "For the past 85 years, Flomatic has been an industry leader in valve manufacturing for customers, jobs and applications of all sizes. This expansion allows us to further our commitment to quality and service by increasing production, while developing new technologies and product lines. On behalf of everyone at Flomatic, I thank Empire State Development and the Regional Council for supporting this project."
CREDC Co-Chairs Dr. Havidán Rodríguez, University at Albany President, and Ruth Mahoney, KeyBank Market President, said, "Supporting advanced manufacturing and tradable sectors are priorities of the Council, and this expansion will allow Flomatic to develop new products while increasing productivity to serve its global customer base. On behalf of the Council, we congratulate Flomatic and its employees."
Edward Bartholomew, EDC Warren County President, said, "Governor Cuomo's policy of assisting upstate manufacturing through the CFA process, together with Flomatic’s goal of expanding their Glens Falls operation, has resulted in a significant economic boast to our regional economy."
Flomatic was founded in 1933 in Hoosick Falls as the White Flomatic Corporation, and the its main products were check valves and regulators. Today, the company specializes in several valves and backflow preventers used in domestic, industrial, municipal and irrigation markets across the United States, from New York City to Los Angeles, and in more than 40 different countries. The company is widely regarded as an industry leader with new and innovative products covered by several patents and trademarks.
Senator Betty Little said, "Flomatic Corporation’s expansion is certainly great news. I am very appreciative of Empire State Development’s partnership and the funds provided to help this long-time local employer expand, add jobs and become even better positioned to compete globally. This company’s stellar reputation will be that much better as a result."
Assembly Member Dan Stec said, "I am pleased to see Flomatic Corporation continue to deepen its roots in Warren County and build quality products and I look forward to their continued success in the City of Glens Falls."
Warren County Board of Supervisors Chair Ronald F. Conover said, "This is another significant boost for the region and testament that investments in high-quality, successful manufacturers like Flomatic will produce economic opportunities for area workers and their families."
Glens Falls Mayor Daniel L. Hall said, "Today's announcement is welcome news for Glens Falls and is proof positive to the improving business climate in our region. I want to thank Governor Cuomo and Empire State Development for their continued support in revitalizing the upstate economy."
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:
ESD Press Office | [email protected] | (800) 260-7313
Press Release
Friday, June 21, 2019 - 12:20pm
Governor Andrew M. Cuomo today announced that Orgill, Inc., the world's largest independent hardlines distributor, will build its first Northeastern U.S. distribution center in Rome, Oneida County. The new, 780,000 square-foot facility, to be located at Griffiss Business and Technology Park, will be the company's first in New York State and lead to the creation of 225 new jobs in the Mohawk Valley. The company plans to invest nearly $70 million to construct and equip the facility, which will serve Orgill's customers throughout the Northeast.
"The Mohawk Valley is a prime location for businesses moving products throughout the Northeast, and the Orgill distribution center is a welcome addition to the region," Governor Cuomo said. "We proudly invest in companies that invest in New York, and with the hundreds of jobs generated by this new facility there is no doubt it will help bolster the region's economy."
"Orgill's distribution center in Rome is a significant investment in the area, creating hundreds of jobs," said Lieutenant Governor Kathy Hochul. "The construction of this project will create new opportunities and strengthen the economy of the entire Mohawk Valley region."
Read the complete press release here.
Press Release
Friday, June 21, 2019 - 11:36am
Governor Andrew M. Cuomo today announced that Amy's Kitchen, a leading organic food manufacturer, has broken ground on its East Coast hub - a 389,000-square-foot specialty frozen food manufacturing facility in Goshen, Orange County. The facility, which will be one of the largest previously-undeveloped manufacturing plants to select New York State in more than 30 years, will enable the company to create 680 jobs, with potential for future growth.
"Our open-for-business approach to economic development is attracting transformative investments from leading companies like Amy's Kitchen because we have the locations, business climate and workforce to help them succeed," Governor Cuomo said. "As one of the largest development projects in the Mid-Hudson region in decades, this project will create hundreds of good jobs, boost the manufacturing industry and generate major economic opportunities for the local community."
"Amy's Kitchen is just the latest business to set up shop in New York, creating hundreds of new jobs and strengthening the economy of the Mid-Hudson region," said Lieutenant Governor Kathy Hochul, who made today's announcement. "As a growing food manufacturing company, Amy's Kitchen is expanding with a significant investment in Orange County. During my travels across the state, I'm encouraged to see many unique businesses who are opening their doors, bolstering our workforce, and building the future of New York."
Read the complete press release here.
Press Release
Tuesday, June 18, 2019 - 2:11pm
State Investment Complements “Finger Lakes Forward” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy
Empire State Development (ESD) today announced its investment in cybersecurity and risk management consulting company Security Risk Advisors (SRA). ESD has offered up to $900,000 through the Excelsior Jobs program to aid the successful company with its move to the City of Rochester, Monroe County. Because of the support from New York State, the company plans to create up to 67 new jobs in the region over the next five years. Headquartered in Philadelphia, Security Risk Advisors will open an office at the Culver Road Armory where it plans to be operational in the fall. The total project cost has been placed at a little more than $11.5 million. Monroe County, the City of Rochester and Greater Rochester Enterprise are also assisting with the project.
Empire State Development President, CEO & Commissioner Howard Zemsky said, "Security Risk Advisors has recognized the Finger Lakes region as a growing high-tech hub for the cybersecurity industry, with a highly skilled talent pool that is drawing cutting-edge companies to Rochester to create 21st century jobs.”
Founded in 2010, Security Risk Advisors began by using a virtual office model. In 2017, their strategy to grow by mentoring a larger number of University hires led to the decision to open their headquarters in Philadelphia. Security Risk Advisors decided to open its first New York State location in the City of Rochester due to the large, local talent pool available via the Finger Lakes regions’ 19 renowned colleges and universities.
Security Risk Advisors Director Mike Pinch said, “We are proud to partner with Empire State Development, Greater Rochester Enterprise, the City of Rochester and Monroe County to establish our office in Rochester. Our talent development program starts with students, and the cybersecurity talent pool in Rochester is second to none. The proximity to top colleges and industry leading companies, in addition to the quality of life in Western New York made the decision to open our second office in Rochester an easy one. Security Risk Advisors looks forward to great success delivering world-class consulting services, contributing high-quality cybersecurity thought leadership, and developing the next generation of security professionals here in Rochester.”
Security Risk Advisors provides cybersecurity expertise to its clients with a focus on the Fortune and Global 1000. Their services include ethical hacking, risk assessments, compliance, engineering, and managed detection and response. The forward-thinking company contributes to industry thought leadership by developing free software, mentoring students and sponsoring cyber competitions and women-in-cyber conferences.
State Senator Rich Funke said, "Any time a business relocates to our area or invests additional capital here it's a good day. Security Risk Advisors is a cutting-edge company with a much needed 21st century mission. I'm so pleased that they will call the Finger Lakes home."
State Assembly Member Harry Bronson said, "The Finger Lakes regional economy is becoming a leader in cybersecurity and the high-tech fields that will define our 21st century economy. I am pleased to see Security Risk Advisors recognize the pipeline of highly skilled workers in the Rochester community, and applaud them for bringing new jobs to the 138th Assembly District. I also want to applaud Governor Cuomo and the team at Empire State Development for the incredible work they do in moving the Finger Lakes forward."
Rochester Mayor Lovely A. Warren said, “I want to congratulate and thank Security Risk Advisors for making the decision to move to Rochester and utilize our highly skilled workforce. I am also grateful to Governor Cuomo and Empire State Development for always working to retain and create jobs in Rochester through Finger Lakes Forward. Together, we are advancing towards our mission of creating more jobs, safer, more vibrant neighborhoods and better educational opportunities for Rochester’s citizens.”
Monroe County Executive Cheryl Dinolfo said, "Monroe County is home to an experienced workforce, top tier higher education institutions, and a rapidly growing tech sector. We're thrilled to welcome Security Risk Advisors to our community and we look forward to continuing to work with them to create more jobs in the years to come. This investment is proof that Monroe County is open for business!"
Matt Hurlbutt, President & CEO, Greater Rochester Enterprise said, “We are pleased that Security Risk Advisors will open a new office here and leverage the Greater Rochester, NY region’s highly skilled workforce and low cost of doing business. When it comes to cybersecurity, the Greater Rochester, NY region has the top-tier tech talent and leading-edge R&D assets at RIT and University of Rochester that companies such as SRA need to grow.”
For more Information about Security Risk Advisors, click here.
Accelerating Finger Lakes Forward
Today’s announcement complements “Finger Lakes Forward,” the region’s comprehensive blueprint to generate robust economic growth and community development. The State has already invested more than $6.1 billion in the region since 2012 to lay the groundwork for the plan – investing in key industries including photonics, agriculture and food production, and advanced manufacturing. Today, unemployment is down to the lowest levels since before the Great Recession; personal and corporate income taxes are down; and businesses are choosing places like Rochester, Batavia and Canandaigua as a destination to grow and invest in.
Now, the region is accelerating Finger Lakes Forward with a $500 million State investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015. The State’s $500 million investment will incentivize private business to invest well over $2.5 billion – and the region’s plan, as submitted, projects up to 8,200 new jobs. More information is available here.