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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Public Notice

Wednesday, August 8, 2018 - 10:30am
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Board Meeting

Wednesday, August 8, 2018 - 9:30am
With videoconferencing to:  Empire State Development - Buffalo Regional Office 95 Perry Street Suite 500 Buffalo, NY 14203 Empire State Development - Albany Offices Conference Room 812 625 Broadway Albany, NY 12245
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Public Notice

Tuesday, August 7, 2018 - 1:30pm
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Press Release

Tuesday, August 7, 2018 - 1:18pm
Part of Governor's Comprehensive Approach to Transform Communities into Vibrant Neighborhoods and Boost Local Economies Governor Andrew M. Cuomo today announced that Downtown Saranac Lake will receive $10 million in funding as the North Country winner of the third round of the Downtown Revitalization Initiative. As in the first two rounds of the DRI, one municipality from each of the state's 10 regional economic development regions is selected as a $10 million winner, marking another overall state goal to target $100 million in funding and investments to help communities boost their economies by transforming downtowns into vibrant neighborhoods where the next generation of New Yorkers will want to live, work and raise a family. "Saranac Lake's unique downtown neighborhood and year-round appeal made it an ideal candidate for the third round of Downtown Revitalization Initiative funding," Governor Cuomo said. "Following the re-opening of the landmark Hotel Saranac, we are building on this momentum and helping downtown Saranac Lake reach its full potential, attracting both residents and visitors for generations to come." "The Downtown Revitalization Initiative is providing communities with funding to pursue local projects to enhance their downtowns and spur economic growth," said Lieutenant Governor Kathy Hochul. "This funding for Saranac Lake as part of the DRI will help to revive the historic village and develop new business opportunities, like the re-opening of the Hotel Saranac. The investment in new housing and rehabilitation of existing buildings in Saranac Lake will help to fuel activity and development of the entire North Country region. Read the full press release here. 
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Public Notice

Tuesday, August 7, 2018 - 12:30pm
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Blog Post

Tuesday, August 7, 2018 - 11:28am
In the western corner of Upstate New York, Erie County is home to a bustling ecosystem of businesses, educational institutions and revitalized downtowns, including Buffalo. The second largest city in the state, it has become a top destination for entrepreneurs and other skilled workers looking to make their mark thanks to investments in key industries and expansion initiatives. But the region, while poised for success, is facing a harsh reality: residents of Erie County succumb to heart disease and stroke at much higher rates than their fellow New Yorkers. In fact, the rate of stroke death in the region is nearly 60 percent higher than the aggregate rate for other state residents.* For those most at risk, the need for life-saving endovascular devices** couldn’t be more pressing. Founded three years ago on the Buffalo Niagara Medical campus, the Jacobs Institute (JI)—a nonprofit consortium of health care, life sciences research and medical education institutions—is committed to bring these devices to life to help tackle the region’s health issues head-on. Based on research conducted and published in 2017, the nonprofit institute created the Idea for a Reality (i2R) Center to fast-track the development of endovascular devices and other life-saving interventions while also building on the culture of entrepreneurship emerging in Western New York. “The JI [launched] its i2R, to accelerate future innovations in the treatment of stroke and heart attack, which are devastating the WNY community at rates higher than both the New York State and national average,” said JI’s Chief Executive Officer Bill Maggio in a March 28 press release. “One of our goals is to spin out startups from the i2R and encourage them to stay and create jobs right here in Buffalo. There is a reason why Buffalo has raised its visibility as a desirable destination for startups. The JI plans to leverage that reputation and the entrepreneurial ecosystem.”
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Press Release

Tuesday, August 7, 2018 - 11:04am
Investment Complements “Finger Lakes Forward” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy\ Empire State Development (ESD) today announced that optics manufacturer Optimax Systems Inc., located in the Town of Ontario, Wayne County, is expanding its operations. The company will construct a $21.7 million, 60,000 square-foot addition at its existing facility on Dean Parkway. The expanded operations, with support from ESD, will allow Optimax Systems to raise the bar when it comes to supplying optics for its customers and will help the company solidify its brand and credibility in the worldwide optics manufacturing community. As a result of its continued growth, the company plans to create 59 new jobs over the next five years; 291 positions will be retained. The expansion project is expected to be completed in 2024. Empire State Development President, CEO & Commissioner Howard Zemsky said, “New York State’s strategic investments have supported the Finger Lakes Region’s growth as an optics, photonics and imaging hub and our commitment to workforce development and 21st century jobs means that companies like Optimax Systems can continue to grow here, with a pipeline to the tech talent they need.” Optimax Systems, Inc., founded in 1991, has been ahead of the curve in progress in technologies as diverse as fiber optic telecommunications, solid-state lighting, digital photography, displays, and diagnostic medicine. They have worked key programs in aerospace, government research, and defense. Optimax Systems, Inc. President Mike Mandina said, "We are excited that as we grow we can continue to be a part of the great community in Wayne County and do this expansion in New York State. Optimax has made its home in Ontario, N.Y. since 1993. Constructing this new expansion enables us to build, a state-of-the-art facility that can support our technological and employee growth as the largest high precision optics manufacturer in the United States. We'd like to thank Governor Cuomo and Empire State Development for their support and assistance enabling us to reinvest in upstate New York and build on Optimax’s growing success.” In order to encourage Optimax Systems to expand in the Finger Lakes, ESD is providing $700,000 through a Finger Lakes Forward Upstate Revitalization Initiative Grant and up to $1.5 million in Excelsior Tax Credits a in return for job creation commitments. retention of hundreds of existing jobs. The total project cost is $21.7 million. Greater Rochester Enterprise President and CEO Matt Hurlbutt said, “Optimax is an integral part of Rochester, NY’s thriving optics, photonics, and imaging industry of more than 120 innovative companies. Optimax leaders chose to expand their operations in Rochester to capitalize on the fully integrated supply chain and top-tier talent available in our community to accelerate their growth plans.” Wayne County Legislature Board Chairman Steve LeRoy said, “For many years Optimax Systems has been providing good-paying, high-tech jobs in the optics industry for the Finger Lakes region. Many thanks to Empire State Development for helping this successful company continue its impressive growth which will result in solid opportunities for those in our community.” Town of Ontario Supervisor Frank Robusto said, “The Town of Ontario is excited about the expansion of Optimax. Their expansion is outstanding news for our community. Optimax has been a leading employer in Ontario. We are grateful for the job opportunities they provide our residents. “ Senator Pam Helming said, "The expansion of Optimax is terrific news for local workers and our entire region. Under President Mike Mandina's leadership, Optimax has positioned itself as a leading employer by creating high tech, manufacturing jobs right here in the Wayne-Finger Lakes region. As State Senator, I will continue to work with the Governor, Empire State Development, my colleagues in the Legislature, and local leaders to promote economic development and job creation in upstate New York. Working together with the business community, we will continue our aggressive efforts to help local businesses like Optimax grow, succeed, and create new opportunities for local workers and their families."  For more information about Optimax Systems, Inc., 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 $5.2 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. ​     Contact: Shari Voorhees-Vincent | Shari.Voorhees-Vincent@esd.ny.gov | (585) 399-7055 Press Office | pressoffice@esd.ny.gov | (800) 260-7313  
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