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.
Media Center
Press Releases
Get the latest New York State economic development news.
Success Stories
Read about the innovative companies that call New York State home.
ESD Blog
Catch the latest updates on economic activity around the state.
Board Meetings
Find meeting agendas, minutes, webcasts and more.
All
News
Filter Options
Close
3103
items
Press Release
Tuesday, March 16, 2021 - 11:24am
$25 Million Luminate NY Initiative Continues to Bring the Best Startups with Optics, Photonics, and Imaging Technologies to the Finger Lakes Region to Tap World Class Resources and Grow the Economy
The Competition is Supported by “Finger Lakes Forward” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy
Empire State Development (ESD) today announced the 10 companies selected to take part in Round 4 of the Luminate NY accelerator program and competition. A total of 126 startups from 22 countries and 21 U.S. states applied for consideration to be a part of the world’s largest accelerator for startups with optics, photonics, and imaging (OPI) enabled applications. The companies were selected after pitching their innovative ideas to an advisory panel comprised of industry experts. Each finalist will receive an initial investment of $100,000 and will have the chance to compete for up to $2 million in follow-on funding upon completion of the accelerator program. This fourth cohort of Luminate NY will begin on April 5, 2021. The six-month program will help the companies speed the commercialization of their technologies and business. Funding for the $25 million program, which is administered by NextCorps, is provided through the Finger Lakes Forward Upstate Revitalization Initiative.
Empire State Development President & CEO-designate Eric Gertler said, “Congratulations to the 10 entrepreneurial companies selected as finalists for Luminate NY’s fourth cohort. No doubt the cutting-edge ideas from these optics, photonics, and imaging startups will continue to drive innovation and opportunity in the Finger Lakes Region and throughout New York State.”
Luminate NY supports innovators as they further develop their technologies in Rochester with help from industry experts, businesses, and local universities. This cohort is solving challenges within a number of industries, including, but not limited to: augmented and virtual reality, healthcare, agtech, architecture/buildings, optics, and autonomous systems, imaging, and vehicles. The accelerator competition will require that the winners commit to establishing operations in Rochester for at least 18 months.
The 10 selected startups include:
Andluca Technologies—UV-solar-powered smart glass for improving the energy efficiency of buildings
Dynocardia Inc.—First non-invasive blood pressure (NIBP) method that measures BP continuously and with accuracy compared to the gold standard
Infrascreen SA—Nanotech solutions for better climate control in greenhouses
Layer Metrics Inc.—Monitoring system that enables intelligent 3D printing
Mesodyne—Ultra-high, energy-density compact power generators that increase the endurance of small autonomous systems by 10x over batteries alone
Momentum Optics—High-quality, affordable, and rapidly delivered custom optics
OSCPs Motion Sensing Inc.—Inertial navigation sensors for autonomous vehicles
Owl Autonomous Imaging— World’s only 3D Thermal Ranger™, providing HD imaging and precision ranging that is a 150x improvement in resolution and cloud density of LiDAR
PreAct Technologies—Sensors and software that make it possible to angle car seats away, deploy airbags earlier, and raise the car suspension before the impact of a crash occurs to save lives
2EyesVision—First technology that allows people to quickly and accurately compare the different corrections available for presbyopia
Additional companies will take part in the program out of the finalist structure. Far UV Technologies, Inc., Qunnect, and Intelon Optics are joining the accelerator to gain access to regional resources, and XR Nanotech and IRIS Light Technology will be auditing the program to help prepare and advance their businesses for applying to accelerator programs in the future.
Luminate NY Managing Director Sujatha Ramanujan said, “The companies selected have the potential to truly disrupt their categories. With access to our renowned regional resources, mentors, and investor network, we’ll help them speed the commercialization of their offerings so that they can have a meaningful impact on our world and on our regional community.”
Since its inception, Luminate has invested $7.15 million in 30 startups. The companies in the portfolio have raised an additional $26 million and now share a net worth of $160 million. Many of companies that have taken part in previous rounds of the competition have established U.S. operations or some aspect of research and manufacturing in the Rochester region—which continues to be the epicenter of the OPI industry in North America. This has resulted in the creation of 80 new jobs in the region, and an additional 25 jobs supported through contract manufacturing.
Finger Lakes Regional Economic Development Council Co-Chairs, Greater Rochester Chamber of Commerce President and CEO Bob Duffy and SUNY Geneseo President Denise Battles said, “Congratulations to these innovative teams on their selection to take part in the fourth round of the groundbreaking Luminate NY accelerator program, which is working to further grow the optics, photonics, and imaging industry in Rochester. This unique competition is helping the entire region to further establish itself as the global leader in the light-based products and services industry, helping to move the Finger Lakes forward for years to come.”
State Senator Jeremy Cooney said, “Innovation is critical for economic growth and progress in our region. Programs like the Luminate Accelerator at NextCorps bring resources and opportunity to entrepreneurs doing the work to solve problems in new and creative ways. I look forward to hearing more about these startups and the positive impact they can make in Rochester and the world.”
Assembly Member Harry Bronson said, “Congratulations to the 10 finalists selected for Round 4 of the Luminate New York accelerator competition. I know their entrepreneurial spirit will create projects that will provide the future of job and economic growth for our state and nation. Each of these projects are forward facing and will help build a brighter future for our families.”
Monroe County Executive Adam Bello said, “The Luminate NY Initiative is a crucial part of drawing attention to the optics, photonics and imaging industry which thrives in our region. As Monroe County continues to diversify from its roots as a manufacturing community, the stage we put our blossoming industries on is of similar importance to the industries themselves. I commend the work Empire State Development is doing to shine a light on what our region has to offer for entrepreneurs and established firms alike. I would also like to offer congratulations to the final 10 companies in the Luminate NY accelerator program on the work they have done in their respective fields to be in consideration.”
Mayor Lovely A. Warren said, “I want to congratulate all the fourth-round finalists in the Luminate NY accelerator competition and wish them luck in this next, exciting phase of their development as Rochester job creators. These companies are already winners in this unique program to support and encourage innovation in optics, photonics, and imaging around the world. I remain grateful to Governor Cuomo and Empire State Development for bringing these 21st century innovators to Rochester through Finger Lakes Forward and helping us achieve our goals of creating more jobs; safer, more vibrant neighborhoods; and better educational opportunities for our citizens.”
For additional information about the Luminate NY accelerator, visit https://luminate.org/
For additional information about Nextcorps, visit https://nextcorps.org/
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 $8.07 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. 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 | [email protected] | (585) 399-7055
Press Office | [email protected] | (800) 260-7313
Public Notice
Monday, March 15, 2021 - 5:30pm
Press Release
Monday, March 15, 2021 - 3:07pm
First in a Series of Webinars to Begin on March 18 Designed to Amplify Voices of Women, Particularly During the Pandemic, which has been Especially Difficult for Women Founders and Women in the Workforce
Inaugural Event to be Kicked Off by Lieutenant Governor Kathy Hochul for Women’s History Month, which runs throughout March
Empire State Development today announced the “Built by Women: Frank Conversations with Women Founders and Funders” virtual speaker series will begin on Thursday, March 18 with the first event, “Lift Off: Raising your Seed Round” at 12:30 p.m. This event will be led by Tiffany Dufu, Founder and CEO of The Cru, and Jenny Fielding, Managing Director of Tech Stars NYC and founder and general partner of The Fund and will be kicked off by introductory remarks from Lieutenant Governor, Kathy Hochul.
"When the COVID-19 tsunami came crashing on our shores one year ago, the tidal wave swept over our most vulnerable, and now left in the wake are women of all ages struggling to stay afloat," Lieutenant Governor Kathy Hochul said. "The Built by Women series will host important conversations on how we prioritize women's economic empowerment and create opportunities that lead to sustainable financial independence. Our goal is that by next year’s Women’s History Month, we will celebrate how women came back stronger, more resilient and more empowered than ever through this pandemic."
Empire State Development Acting Commissioner and President & CEO-designate Eric Gertler said, “It is imperative that we call attention to the challenges small businesses face, especially those issues that have been exacerbated during the COVID-19 crisis. The pandemic has taken a particularly hard toll on women and minorities and this series of virtual talks are a great way to learn from the experiences of women who are meeting today's challenges and want to share their stories.”
NY Ventures and NYSTAR is launching a series of conversations between women founders and funders to amplify women’s voices, explore the current challenges that women founders face, and address diversity as a key to startup growth and success. Women founders historically have received less than 3% of all investment capital and for women of color, that number drops to less than 1%. Additionally, the pandemic has led to nearly 2.5 million working women leaving the workforce as compared to 1.8 million men, and according to a 2015 study by McKinsey and Company, women's full participation in the workforce could increase global GDP by $28 trillion.
Other topics to explore in this series will include:
How to identify unconscious bias and address it
Taking the first step: Saying yes to your entrepreneurial pathway
The value of a board
Where are the women? Recruiting diversity and creating an inclusive environment
What kind of company are you?
Developing your sales strategy
For more information and to register for the March 18 event visit https://esd.ny.gov/built-by-women-series.
About New York Ventures
New York Ventures is the venture capital investment arm of Empire State Development, New York State’s chief economic development agency. New York Ventures supports and invests in diverse entrepreneurs and their high growth companies across the state to secure a healthy, sustainable and economically vibrant future for all New Yorkers. More information is available here.
About NYSTAR
Empire State Development’s Division of Science, Technology and Innovation (NYSTAR) advances technology innovation and commercialization in New York State. NYSTAR offers programs that assist companies from start-up through maturity, leveraging the state’s unparalleled investment in world-class technology assets and expertise. It provides roughly $55 million annually in funding to support over 70 centers that provide direct assistance to New York State companies—a network of vital assets for enabling technology- and manufacturing-led growth and job creation. NYSTAR and its partners are proud to contribute to New York’s leadership in the global innovation economy. For more information, visit esd.ny.gov/nystar.
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 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, please visit www.regionalcouncils.ny.gov and www.esd.ny.gov.
Contact:
Kristin Devoe (ESD) | [email protected] | (518) 414-1087
ESD Press Office | [email protected] | (800) 260-7313
Public Notice
Wednesday, March 10, 2021 - 5:30pm
Public Notice
Wednesday, March 10, 2021 - 5:30pm
Board Meeting
Friday, March 5, 2021 - 11:30am
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 5:00 p.m. on Thursday, March 4, 2021.
Press Release
Thursday, March 4, 2021 - 1:29pm
Sucro Sourcing to Create 55 New Jobs with $19 Million Project
Empire State Development (ESD) and New York Power Authority (NYPA) today announced that Miami-based sugar cane refiner Sucro Sourcing has begun interior demolition and refurbishment for its sugar refinery at the former Bethlehem Steel Site in Lackawanna. Sucro Sourcing will invest $19 million to transform three abandoned buildings at the site into newly refurbished facilities, including a sugar refinery and warehouses. The project will result in the creation of 55 new full-time jobs over the next three to five years.
“Like many, my family started in the shadow of the Bethlehem Steel Plant, where my father and grandfather worked and pursued the American dream,” said Lieutenant Governor Kathy Hochul. “The start of interior demolition and refurbishment at the Bethlehem Steel site by Sucro Sourcing brings hope of a rebirth for a community that has been knocked down, but is making a comeback. New York State continues to reverse the decades-long industrial decline in upstate communities by investing in creating good-paying jobs, reimagining unutilized industrial space and spurring economic investment.”
“Sucro Sourcing is very excited to expand its business in Western New York, and provide unique, innovative, and low-cost sugar supply opportunities to the many food and beverage customers in the Great Lakes area,” said Jonathan Taylor, Founder and CEO of Sucro Sourcing. “Sucro has grown through entrepreneurial creativity and the support of its customers, and we see the current energy, support and leadership being demonstrated in Western New York as key to the project’s success.”
Founded in 2014, Sucro Sourcing provides pure refined cane sugar for its many industrial customers. The company’s current operation in Lackawanna not only serves the food industry in upstate New York but also supplies several leading global multinational food companies, thanks to the recent addition of a liquid sugar processing facility.
Sucro’s new facilities will be located on a 12.04-acre site at the Lackawanna Business Park, which will undergo environmental remediation under New York State Department of Environmental Conservation oversight through the New York State Brownfield Cleanup Program. The expansion project is one of several new developments happening at the Bethlehem site including Time Release Sciences’ relocation project and a proposed new warehouse/manufacturing building to meet the growing regional demand for more industrial space.
The Sucro project will be completed in phases. When fully operational in 2024, it is expected to produce up to 300,000 metric tons of refined sugar annually. The project includes:
Improvements to land and buildings for storage, logistical operations, sugar refining operations.
Improvements to the port terminal to improve flow of raw material.
Improvements to access roads and rail lines to move finished product out of the facility.
Equipment for the production facility.
Construction of an additional building for storage of raw sugar.
“New York State’s investment in innovative companies like Sucro Sourcing continues to grow our regional economies,” said Empire State Development Acting Commissioner and President & CEO-designate Eric Gertler. “This sugar refinery is just one example of how the former Bethlehem Steel site is being reimagined for businesses looking to expand and create long-term jobs and opportunity.”
“The Niagara hydropower allocation to Sucro Sourcing allows the firm long-term security so that it can stay and grow in Western New York,” said John R. Koelmel, NYPA Chairman and Buffalo resident. “As a good neighbor, NYPA is committed to supporting businesses in the region as we move forward and safely rebound from the COVID-19 pandemic.”
“Across New York, the State’s Brownfield Cleanup Program is ensuring that former contaminated sites like Bethlehem Steel are responsibly cleaned up and put back into productive use,” said Department of Environmental Conservation (DEC) Commissioner Basil Seggos. “Today’s announcement is the latest step forward in the sustained transformation of the region’s largest and most identifiable industrial sites into a driver for economic development in this community.”
Sucro Sourcing will be located at 2303 Hamburg Turnpike in Lackawanna. It is eligible for up to $695,000 in tax credits through the Excelsior Jobs Program in exchange for promised job commitments.
The firm was also awarded a 5,000-kilowatt hydropower allocation from the New York Power Authority’s Niagara Power Project in January in support of the project. Low-cost Niagara hydropower is available for companies within a 30-mile radius of NYPA’s Niagara Power Project or businesses in Chautauqua County. Niagara hydropower is linked to tens of thousands of existing jobs in the region. More information about business growth opportunities supported by NYPA is available on its Economic Development webpage.
Senator Tim Kennedy said, “With the start of this demolition, Western New Yorkers are finally seeing a transformative approach to the former Bethlehem Steel site. The site was once humming with jobs and economic activity, and now, with this substantial investment from Sucro and other businesses, we’re working our way towards seeing that potential once again. I look forward to the opportunities that this project will open up for the working men and women of Lackawanna, and I'm pleased to see New York recognizing the importance and impact this will have.”
Assemblyman Jon Rivera said, “After years of stagnation it is exciting to see projects like this breathing new life into Lackawanna and Western New York. The region is on an undeniable trajectory towards smarter growth, evidenced by projects like this.”
Erie County Executive Mark C. Poloncarz said, “The expansion of Sucro Sourcing in Lackawanna shows once again how attractive the former Bethlehem steel site is to business, as evidenced by their $19 million private investment there and the creation of 45 new jobs that will be supported by this expansion. In addition, old and unused buildings on the site are part of this project and will be transformed into modern, accessible business spaces to suit Sucro Sourcing’s expanded needs. This is a win-win and we are excited to see this project begin.”
Lackawanna Mayor Annette Iafallo said, “Sucro Sourcing’s investments at the former Bethlehem Steel site represent huge steps forward in our collective efforts to rebuild Lackawanna’s economy and increase local job opportunities. Through strong public/private partnerships, this once thriving industrial complex is being reimagined as a modern commerce park capable of breathing new economic life into Lackawanna and Erie County for years to come.”
Find more information about Sucro Sourcing here.
Contacts:
Pamm Lent (Governor’s office) | [email protected] | 716-846-8309
Laura Magee (ESD) | [email protected] | 716-846-8239