Under the Program, ESD provides grants for pre-development activities and infrastructure investments to develop sites that will attract many eligible industries —including, but need not be limited to, high-tech manufacturing, clean-tech renewable energy, life sciences, agribusiness, optics, transportation equipment, materials processing, industrial machinery manufacturing and other advanced manufacturing. These sites can also be used for interstate distribution and logistics. However, ESD may give priority to semiconductor manufacturing projects and related industry and supply chain projects. The Program further provides ESD the ability to award a “FAST NY Shovel-Ready Certification,” for sites that meet high standards of shovel readiness, to support and enhance their marketing efforts to attract many more industries.
Track A - FAST NY Shovel-Ready Certification
- This no-cost designation by ESD for site-marketing purposes establishes that the applicant has worked proactively with New York State (the “State”) to address all major permitting issues prior to a business expressing interest in the location.
Track B - FAST NY Pre-Development Grants
- Working capital grants of up to $500,000 per site will be awarded to fund the cost of necessary pre-development site planning and reviews for future shovel-ready sites.
- Grants will fund necessary costs to assist grantees in completing pre-development activities, such as those required for FAST NY Shovel-Ready Certification.
Track C - FAST NY Infrastructure Improvements
- Capital grants will be awarded to improve the shovel-readiness of existing, mature sites by funding infrastructure improvements such as water, sewer, transportation, electricity, gas and other capital-eligible site improvement costs.
- Competitive grant awards will be available to sites that have substantially met the requirements of FAST NY Shovel-Ready certification.