Fund will Stabilize At-Risk Buildings for Commercial Use and Redevelopment Governor Kathy Hochul today announced that applications are now open for a second round of the $5 million East Side Commercial Building Stabilization Fund in Buffalo. The fund is helping to protect the community fabric of East Buffalo, making sure that challenged buildings are maintained for prospective future uses, reversing a decades-long practice of incremental demolition of historic building stock. Applications for the program, which is administered by Preservation Buffalo Niagara, are due December 3, 2022 and available here. "With this Fund, we are taking steps to address decades of neglect in East Buffalo and standing by our commitment to doing right by this community," Governor Hochul said. "The East Side Commercial Building Stabilization Fund will allow for much-needed renovations at historic buildings to restore the neighborhood and bring bustling commercial activity back to this community. I encourage businesses to apply and be a part of the revitalization of East Buffalo." This additional round will provide opportunities for grants up to $150,000 to cover 90 percent of costs to stabilize legacy commercial buildings that are at risk for future emergency demolition, pending efforts for full restoration or rehabilitation. Property owners are required to contribute 10 percent of the total project costs. This will preserve East Buffalo's unique history, character, and sense of place in its architecture and urban design, and more so, preserve future opportunities for small business development in such buildings, which is substantially more feasible in existing structures compared to new building construction. Empire State Development President, CEO & Commissioner Hope Knight said, "The East Side Commercial Building Stabilization Fund helps ensure the physical fabric of East Buffalo is as strong as the community spirit of its residents. Providing adequate support and maintenance of neighborhood structures can lead to the revitalization of commercial districts, spur development and strengthen the local economy." Preservation Buffalo Niagara Executive Director Jessie Fisher said, "We know that investing in our legacy commercial buildings is part of any successful neighborhood rehabilitation strategy. We are so grateful for New York State in making this investment in the East Side of Buffalo." Read the full press release here.

Transparent Ceramic Manufacturer Adds 4,000-Square-Feet to its Buffalo Facility Creating 17 New Jobs Empire State Development (ESD) and the New York Power Authority (NYPA) today announced that transparent ceramic manufacturer Surmet Corp. has expanded its 75,000-square-foot facility at 699 Hertel Avenue in Buffalo by more than 4,000 square-feet to house new ceramics processing equipment. The company also invested in new production furnaces and renovations to the existing facility. As a result of the $14.5 million project, the manufacturer has committed to creating up to 17 new jobs in the next three to five years. The company is about to be fully operational at the expanded facility. “Surmet’s expanded ceramics facility marks an important milestone for Western New York, and adds to the region’s momentum as a hub for advanced manufacturing and innovation,” said Empire State Development President, CEO and Commissioner Hope Knight. “The project reflects Buffalo’s ability to grow its most successful companies and support the industries that will power New York’s economic future.” “Niagara hydropower is the backbone of economic development in Western New York, acting as a catalyst for billions of dollars in capital investments and tens of thousands of jobs in the region,” said NYPA Interim President and CEO Justin E. Driscoll. “The Surmet expansion is impactful news for the area, delivering good-paying jobs and demonstrating Surmet’s commitment to Buffalo.” Surmet Corp. was founded in 1982 with a commitment to provide cost effective advanced material solutions to its industrial customers with a focus on next generation machines, systems, and applications. Surmet has been a leader in commercializing and scaling up manufacturing of advanced material components, based on critical, innovative R&D carried out in its own state-of-the-art labs. Surmet operates facilities in three states—Massachusetts, New York and California—and is providing specialized capabilities in ceramics processing, precision polishing, advanced coatings, and surface treatments. Surmet has been in this Buffalo facility since 2002. “We are excited about this expansion to establish a vertically integrated capability to manufacture transparent ceramic products and to have an opportunity to create new manufacturing jobs in Buffalo,” said Dr. Santosh Jha, Director of Operations at Surmet. “Surmet also thanks all its vendors and local authorities for their help and support in completing this project.” Best known for its ALON® Transparent Ceramic (also known as Transparent Aluminum), Surmet is a pioneer in other advanced technologies including IR optics materials, optical coatings, precision optics fabrication, lightweight transparent armor design and solutions, and other related products. ALON is the hardest polycrystalline transparent ceramic material there is and has been shown to stop multiple 50 caliber armor piercing (AP) rounds (see video demonstration here.) In addition to high hardness and strength, ALON possesses good chemical resistance and high temperature resistance. Surmet manufactures and supplies high quality ALON® components to military and industrial customers in sizes as large as 18 inches by 35 inches and in large quantities.  Surmet also supplies ALON domes and windows for infrared optics applications including IR guided missiles, sensor, and reconnaissance pods for both ground vehicles and helicopters/aircraft. ESD is assisting Surmet Corp. with the project by providing up $675,000 in Excelsior Jobs Program tax credits in exchange for job creation commitments. The firm also benefits from 640 kilowatts of low-cost Niagara hydropower in return for its commitment to create jobs and invest capital. Low-cost Niagara hydropower is available for companies within a 30-mile radius of the Power Authority’s Niagara Power Project or businesses in Chautauqua County. Niagara hydropower is linked to tens of thousands of existing jobs in the region. For additional information about Surmet Corp., visit http://www.surmet.com/. Senator Sean Ryan said, “Using the low-cost hydropower generated by the Niagara River to invest in good-paying jobs like the ones created by Surmet’s expansion is the exact type of high-road economic development that we need to focus on in Western New York. Leveraging our great natural resources to bring quality jobs to Buffalo is an essential part of our efforts to ensure a strong economic future for our region.” Assemblymember Jon D. Rivera said, “Through all of the progression and successful injection of economic development through the past decade, Buffalo remains a manufacturing hub at its core. Surmet Corp.’s commitment to Buffalo is the latest example of our region’s ability to attract the right kinds of businesses that can create good-paying job for local residents. The renovations undertaken by Surmet will allow for expanded operations, and in turn, will further cement the company’s imprint in WNY.” City of Buffalo Mayor Byron W. Brown said, “I congratulate Surmet Corporation on its $14.5 million expansion project at its Hertel Avenue facility in Buffalo. This milestone, combined with support from Empire State Development and the New York Power Authority, reinforces the company’s commitment to create new jobs over the next few years and sends a positive message about our City’s skilled workforce and ongoing efforts to revitalize our economy.”  Erie County Executive Mark Poloncarz said, “This expansion by a major manufacturer represents a commitment by a company that is helping to create good-paying jobs for people who live in our community. The upgrades being made to this facility is a significant contribution to our region’s innovative economic advancement. I applaud everyone involved with helping to make this project come to fruition.” About Empire State Development  Empire State Development (ESD) is New York’s chief economic development agency. 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 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, please visit www.regionalcouncils.ny.gov and www.esd.ny.gov. Contact: Pamm Lent | [email protected] | (716) 846-8309 Laura Magee | laura[email protected] | (716) 846-8239

LIIF Funding Plus Additional State Investment Represents $40 Million To Expand Life Sciences Economy on Long Island Combined 60,000 Square Feet of Transformed Space Supports Medical and Infectious Disease Research Governor Kathy Hochul today announced the $350 million Long Island Investment Fund awarded its first grant to the The Feinstein Institutes for Medical Research to construct 40,000 square feet of new state-of-the-art labs to support medical and infectious disease research. The $10 million Long Island Investment Fund grant complements an additional $30 million in State support previously awarded to the Feinstein Institutes to modernize 20,000 square feet of its Institute of Bioelectronic Medicine, which Governor Hochul opened today. New York State's assistance is part of an $85 million modernization effort at the Feinstein Institutes for Medical Research in Manhasset, Nassau County, and a broader initiative to highlight the growing life science industry on Long Island. The Feinstein Institutes is the research arm of Northwell Health and is one of the leading laboratory and research centers in the country, conducting cutting-edge studies that seek to cure diseases. "New York is leading the way in medical innovation, and the Long Island Investment Fund will support life-saving research on the cutting edge of the life sciences industry," Governor Hochul said. "Our investment in the Institute of Bioelectronic Medicine is already improving the lives of everyday New Yorkers, and the additional Long Island Investment Fund award announced today reaffirms our commitment to remaining a national leader in the health and medical research fields. I am proud to support the Feinstein Institutes and their research, which will lead to life-changing medicine and treatments that will improve the lives of New Yorkers on Long Island and across the State." Included as part of Governor Hochul's FY 2023 Enacted Budget, the Long Island Investment Fund focuses on projects that will support and grow the regional economy, enhance communities, and have lasting economic impacts across Long Island. The Fund's $10 million award to the Feinstein Institutes for Medical Research will support the renovation and construction of 26 new state-of-the-art research labs on two floors as well as the hiring of 10 new principal investigators and 60 research employees. These modernized labs will advance research efforts to develop novel therapies for cancer, diabetes, obesity, lupus, and other conditions Empire State Development President, CEO and Commissioner Hope Knight said, "The Long Island Investment Fund represents a strategic investment to further enhance the region as a powerhouse for the life sciences industry, which is an important driver of New York State's economy. The Feinstein Institutes play a critical role in life-changing medical discoveries and therapeutics that can improve our everyday lives. ESD is proud to support the growth of visionary life sciences companies like the Feinstein Institutes, whose work is crucial to building a healthier and stronger Empire State." Read the full press release here.

Economic Development Incentives Allow Pine Pharmaceuticals To Double Full-Time Employment  Demonstrates New York's Commitment To Fostering the Growth of Innovative Businesses and Supporting State's Future in Tech Manufacturing  View Photos of the Expanded Facility Here Governor Kathy Hochul today announced the completion of the $8.6 million expansion of Pine Pharmaceuticals LLC's manufacturing plant in the Town of Tonawanda. The drug outsourcing company tripled the size of its facility at Riverview Solar Technology Park following the company's tremendous growth in the past three years. The expansion has allowed Pine to add almost 90 new, full-time permanent employees, doubling its initial projections and overall full-time permanent workforce. Empire State Development has agreed to support this project with up to $650,000 in performance-based Excelsior Jobs Program tax credits. "Manufacturing is part of New York's legacy, and our state is home to some of the best engineers, developers, and scientists in the world," Governor Hochul said. "Pine Pharmaceuticals investment in Western New York will help fill a critical need for U.S. manufactured drugs, retain and create much-needed jobs and continue to boost our state's economic growth." Pine Pharmaceuticals is a family-owned business that has experienced exponential growth and success in Western New York. The company provides pharmaceutical compounding, including specialized sterile formulations serving ophthalmologists, retinal specialists, hospitals, ambulatory surgery centers, medical practices and clinics. The company uses cutting-edge technology and industry-leading quality assurance practices and addresses drug shortages by working with hospitals, clinics, medical practices and physician offices to provide sterile compounded pharmaceuticals. Pine Pharmaceuticals invested $8.6 million for the 50,000-square-foot addition to the existing state-of-the-art facility. The firm also benefits from low-cost power awards from the New York Power Authority: a 400-kilowatt (kW) Niagara hydropower allocation and a 136-kW ReCharge NY power allocation as part of its commitment to create and retain jobs and invest capital. ReCharge NY, launched by New York State 2011, offers up to seven-year power contracts. Half of the power — 455 megawatts — is from NYPA's Niagara and St. Lawrence-Franklin D. Roosevelt hydroelectric power plants, which provide some of the greenest, cleanest and lowest-cost electricity in the state. The remaining 455 megawatts is lower-cost power bought by NYPA on the wholesale market. Empire State Development President, CEO and Commissioner Hope Knight said, "The health care industry is a growing sector in the Western New York economy, and with support from Governor Hochul, businesses like Pine Pharmaceuticals are creating more high-quality jobs for local workers. The company's move to triple the size of its facility, while adding 40 full-time jobs, reminds us that our recovery from Covid-19 is well underway." Read the full press release here.