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Report
Friday, January 6, 2023 - 4:51pm
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Press Release
Thursday, January 5, 2023 - 2:23pm
Glenville Location will be Headquarters for Rocket Science Corporation, a New International Gaming Developer, Creating 30 New Jobs
Will House the Future Capital District Gaming Studio, an Incubator and Game Developer Certification Facility
Empire State Development (ESD) today announced plans for Rocket Science Corporation's new $1.6 million headquarters in Glenville, Schenectady County. The approximately 8,200-square-foot facility on Saratoga Road will house the international gaming developer, along with the Capital District Gaming Studio, a video game incubator and game developer certification facility. ESD is supporting these projects by awarding Rocket Science Corporation with up to $1.269 million in performance-based Excelsior Jobs Program tax credits for the creation of 30 jobs, and a $200,000 grant for construction and renovation costs related to the development of the Capital District Gaming Studio. Funding for both projects was recommended by the Capital Regional Economic Development Council.
ESD President, CEO and Commissioner Hope Knight said, "We are happy to support the growth of the video game development industry in New York State. Rocket Science Corporation and the Capital District Gaming Studio will help create jobs, revitalize an underused and highly-visible property along a main thoroughfare, and spur new investments in a dynamic and growing industry."
Rocket Science Corporation's new facility, the former Glenville Fire Station, will be refurbished into the new, permanent location for the game studio and serve as an incubator site to grow and support smaller studios. The Capital District Gaming Studio will feature an open space for independent game developers, and an educational space where existing programs can expand into Schenectady County. It will include a training facility where students, novices and professionals can learn game development skills and receive professional certifications. This program will be coordinated with existing programs at both SUNY Schenectady and the University at Albany, as full certification requires both testing and practical experience.
In addition to its new Glenville headquarters, Rocket Science Corporation plans to operate multiple locations in New York State and the United Kingdom to better serve domestic and international customers. Company founder and CEO Brian Corrigan has a track record of bringing national game companies to the Capital Region, including PUBG from Seoul, South Korea and Major League Gaming from California.
Rocket Science founder and CEO Brian Corrigan said, "New York State has played a crucial role in the growth of the gaming industry in the Capital Region. With the addition of the new production credit, New York has the opportunity to become a truly global hub for innovation and in the space."
New York State has made attracting and growing the video game industry a priority across New York State and recently announced the new State Digital Game Development Tax Credit Program to support game development projects that begin on or after January 1, 2023. The program is intended to support the digital game development industry across the state and accelerate economic development by offsetting some production costs. This is a $25 million tax credit that will award up to $5 million per year for five years. Applications can be found on the Empire State Development website here.
Capital Region Economic Development Council Co-Chairs Ruth H. Mahoney President of Wealth Management, EVP, NBT Bank and Havidán Rodríguez President, University at Albany said, "Video game development is a growth industry in the Capital Region, and we are excited that these projects will expand the industry's reach into new communities. On behalf of the Council, we thank ESD for supporting these projects, which align with our strategic plan and will create new jobs in a cutting-edge field."
Senator Neil Breslin said, "New York State is now becoming a leader in the burgeoning digital gaming industry. With the announcement of Rocket Science Corporation's new $1.6 million headquarters in Glenville, we are seeing first hand its growth right here in the Capital District. I applaud Governor Hochul and Empire State Development for their steadfast commitment to helping to see this industry thrive."
Assemblymember Mary Beth Walsh said, “Congratulations to Rocket Science Corporation for receiving an essential investment from Empire State Development as they embark on this exciting endeavor. The development of the new Rocket Science Corporation’s new headquarters, along with the Capital District Gaming Studio, will provide unique and innovative opportunities for those interested in the digital game development industry here in the 112th Assembly District and surrounding communities in the Capital Region. I look forward to learning more about this growing industry and visiting the new facility upon its completion!”
Assemblymember John T. McDonald III, RPh said, "Thank you to Rocket Science Corporation and Empire State Development for investing in the Capital Region through the creation of the Capital District Gaming Studio. I have been a long-time supporter of the digital gaming industry and understand the potential for economic growth and the benefits for our communities. More importantly, programs like the Digital Gaming Tax Credit are simple but effective tools to retain and attract residents to our state. I look forward to seeing the digital game development industry continue to grow and am hopeful for continued investment through the New Yord State Digital Game Development Tax Credit Program."
Schenectady County Legislature Chairman Anthony Jasenski said, “We are excited that Rocket Science has chosen Schenectady County as the home of its headquarters. This investment and the jobs it will create will be a tremendous boost for our community and further solidify Schenectady County as a hub for technology investment. This would not have been possible without Governor Hochul’s leadership and we thank her for her support.”
About Empire State Development
Empire State Development is New York's chief economic development agency. The mission of Empire State Development 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, Empire State Development strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. Empire State Development is also the primary administrative agency overseeing the New York State 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 http://www.regionalcouncils.ny.gov/ and http://www.esd.ny.gov/.
Contact:
Kristin Devoe | [email protected] | (518) 414-1087
ESD Press Office | [email protected] | (800) 260-7313
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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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.