Find out what’s happening at Empire State Development

Get the latest on New York State’s development plans and projects. Find press releases, meeting notices, and stories about businesses finding success in New York State.

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Wednesday, August 12, 2020 - 3:52pm
Empire State Development Corporation (“ESDC”) has capitalized thirteen Regional Revolving Loan Trust Fund (“RRLTF”) programs operated by regional not-for-profit organizations in New York State for the purpose of making working capital loans to small businesses employing fewer than 100 employees. RRLTF 2019 Annual Report 
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Wednesday, August 12, 2020 - 2:24pm
The CDFI Assistance Program provides grant support to federally-certified Community Development Financial Institutions (“CDFIs”) that operate alternative small business lending and technical assistance programs in New York State. CDFI Assistance Program 2019 Annual Report
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Wednesday, August 12, 2020 - 1:35pm
The Linked Deposit Program (LDP) was created to encourage and assist New York State manufacturers and small businesses to undertake investments that improve performance and competitiveness, leading to a stronger economy for New York State. Read the annual LDP report for 2019 here.  Linked Deposit 2019 Annual Report
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Wednesday, August 12, 2020 - 1:26pm
This annual report highlights the Entrepreneurship Assistance Centers program's efforts and progress for the 2018 EAC contract year, from June 1, 2018 to May 31, 2019. EAC Annual Report: 2018-19
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Wednesday, August 12, 2020 - 1:14pm
Small businesses form a substantial portion of the New York State economy. This report is issued in response to section 134 of the Economic Development Law that Empire State Development compile an annual report on the state of small businesses.This annual report highlights the state of small businesses in New York State during 2019. 2019 Annual Report on the State of Small Businesses
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Friday, August 7, 2020 - 5:31pm
The Empire State Jobs Retention Program was created to provide financial incentives to retain strategic businesses and jobs that are at risk of leaving the state due to the impact on business operations from a natural disaster. Below please find charts A & B of the quarterly program report detailing businesses admitted to the program and credits issued for the third quarter, ending 9/30/2019. Empire State Jobs Retention Program Quarterly Report - Chart A: Businesses Admitted To Program Empire State Jobs Retention Program Quarterly Report- Chart B: Credits Issued
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Friday, August 7, 2020 - 5:25pm
The Excelsior Jobs Program provides job creation and investment incentives to firms in targeted industries in order to encourage businesses to expand in and relocate to New York while maintaining strict accountability standards to guarantee that businesses deliver on job and investment commitments. Below please find the quarterly program report for the third quarter of 2019, ending 9/30/2019. 9/30/2019: EXCELSIOR JOBS PROGRAM - Quarterly Report CHART A - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Admitted To Program CHART B - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Issued Credits- Tax Year 2012  CHART C - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Issued Credits- Tax Year 2013 CHART D - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Issued Credits- Tax Year 2014  CHART E - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Issued Credits- Tax Year 2015 CHART F - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Issued Credits- Tax Year 2016 CHART G - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Issued Credits- Tax Year 2017 CHART H - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Issued Credits- Tax Year 2018
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Press Release

Tuesday, August 4, 2020 - 12:00pm
Program Offers Funding to Businesses, Non-Profits and Landlords That Did Not Receive Federal COVID-19 Assistance Applications Still Being Accepted at nyloanfund.com Governor Andrew M. Cuomo today announced that more than $2.3 million has been awarded to support 61 businesses and residential landlords with COVID-19 related costs and expenses through the New York Forward Loan Fund. Of the 61 loans, 54 were provided to minority- and women-owned businesses; ten loans were provided to residential landlords; two loans were awarded to veteran-owned businesses; and one loan supported a non-profit organization. Applications are still being accepted and businesses from qualifying industries, including agriculture, construction, food services, retail, education services, manufacturing and transportation, are encouraged to apply.    "The pandemic's impact on small businesses was especially damaging and we're not going to leave them behind - they are the backbone of New York's economy and central to our recovery." Governor Cuomo said. "The New York Forward Loan Fund is providing critical assistance to alleviate lost revenue and offset reopening-related expenses, getting these businesses back on their feet and contributing to New Yorkers' efforts to build back our state and local economies even stronger than before."  Empire State Development Acting Commissioner and President and CEO-designate Eric Gertler said, "The COVID-19 pandemic has affected businesses and industries across New York State - especially our small businesses and particularly minority- and women-owned companies. Through the New York Forward Loan Fund, we are proud to support those who were otherwise unable to receive federal assistance while creating stronger relationships between small business owners and the state's network of Community Development Financial Institutions. I would encourage any eligible small business or residential landlord in need of assistance to apply for this low-interest funding."   Read the full press release here.
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Board Meeting

Monday, August 3, 2020 - 11:00am
Due to public health concerns and as authorized by Executive Order of the Governor, this meeting will be conducted via teleconference. The public may listen to the meeting via webcast by clicking the link below. Members of the public may submit comments on the Agenda items in writing to [email protected] by 5:30 pm on Friday, July 31, 2020.
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Press Release

Thursday, July 30, 2020 - 5:27pm
$6.9 Million in Incentives Awarded to Manufacturers Across the State Will Provide State and Local Governments and In-State Entities Faster and More Secure Access to Life-Saving Medical Products  Governor Andrew M. Cuomo today announced 12 New York companies have received support from the State to produce needed supplies to help combat the COVID-19 pandemic. While the State currently has some of the lowest transmission rates in the United States, preparing for a possible "second wave" is vital to protecting essential healthcare workers and the public. These grant funds will help alleviate product shortages due to supply chain issues that could lead to unfair pricing practices. These companies will also increase the State's manufacturing capacity while creating new jobs and market opportunities. To date, more than $11 million in grants have been awarded to 20 qualifying New York-based companies to retool their business lines and pivot to manufacturing vital supplies for ongoing response and recovery efforts. "During the pandemic, the nation has learned a hard lesson about not having a supply chain for vital supplies based here at home in the U.S. and as a result we had to scour the globe for live-saving products that are mainly manufactured overseas," Governor Cuomo said. "That won't happen again in New York - we are building the infrastructure needed for the future and by supporting local companies' pivot to new areas of production, we will be in a better position to avoid supply and demand issues and secure the items we need both quickly and at reasonable prices." Empire State Development Acting Commissioner and President & CEO-designate Eric Gertler said, "Many of the world's premier and most innovative companies are in New York State. ESD's support for these businesses not only answers Governor Cuomo's call for homegrown industries to assist with the state's efforts to combat the coronavirus but reflects the investment that is being made to strengthen New York's manufacturing sector, enhance a diverse, dynamic private sector partner that can adapt quickly to new market opportunities, and continue its record of smart growth as we reopen and grow statewide."  Read the full press release here.
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