All
Success Stories
Filter Options
Close
3033

items

Press Release

Friday, September 30, 2022 - 5:13pm
Finalists Will Meet in Buffalo, Vying for One of Five $1 Million Investments Governor Kathy Hochul today announced 15 finalists for the eighth edition of 43North's annual startup competition. The finalists will meet in Buffalo at the end of October to pitch their ideas in the hopes of securing $1 million and gain the opportunity to grow their business in Buffalo - one of the nation's fastest-growing tech hubs. Most of the finalists originate from across the United States, with one coming from as far as the United Kingdom. They cover a wide array of industries, including but not limited to health tech, financial services, and clean tech. "Since its launch in 2014, 43North has created a new epicenter of technology and innovation in Buffalo," Governor Hochul said. "The success of 43North has sent a message to entrepreneurs around the world - New York State is home to the jobs of the future. I am proud to announce the 15 finalists of this year's 43North competition and look forward to welcoming them to the energized startup community that is Buffalo." To narrow down the contenders to the top 15 companies, 43North implemented an extensive diligence process that began in July 2022. The process was led by Kevin Siskar, Vice President of Portfolio and Selection at 43North, who, along with more than 80 judges, reviewed hundreds of applications, met with founders, and made recommendations on selection. The competition is part of New York State's $37.04 million Buffalo Billion initiative with funding supported by the New York Power Authority. This year, in addition to shifting to five $1 million awards, 43North also shared news of new production elements including live music from Buffalo's very own local band Farrow that will accompany the Finals program. Over the past seven years, 43North has invested in a diverse, industry agnostic portfolio of 59 companies, 44% of which have founders of color and 28% having female founders. Earlier this year, 43North reported that its portfolio companies had collectively created more than 1,000 jobs in Western New York. Over 60% of 43North's portfolio maintains a material presence in Buffalo. 43North Finals is free to attend, but registration is required. Seats will be available on a first-come, first-served basis. Free tickets for 43North Finals taking place on October 20 at 6pm ET at Shea's Performing Arts Center can be reserved at 43North.org. 43North President Colleen E. Heidinger said, "We're excited to reach this milestone in our selection process and eagerly await the opportunity to get to know these 15 companies as they make their way to Buffalo. These next phases in the judging process are pivotal and thrilling steps which give our community an opportunity to get in on the action as we get down to selecting our year eight cohort." Read the full press release here.
learn more
Press Release

Wednesday, September 28, 2022 - 3:52pm
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 | [email protected] | (716) 846-8239
learn more
Board Meeting

Wednesday, September 28, 2022 - 2:00pm
New York Convention Center Development Corporation’s Directors Meeting Jacob K. Javits Center  655 West 34th Street – Board Room New York, New York 10001 The meeting is open to the public. The public may listen to the meeting via webcast by clicking the link below. Please Note: Due to Jacob K. Javits Convention Center building procedures, those attending must RSVP by 11:00 a.m. on Wednesday, September 28, 2022.  RSVP press line (800) 260-7313; RSVP public line (212) 803-3772. Members of the public may submit comments on the Agenda items in writing to [email protected] by 11:00 am on Wednesday, September 28, 2022. All comments received by the deadline will be distributed to the Directors prior to the meeting and will posted on-line.
learn more
Press Release

Tuesday, September 27, 2022 - 1:27pm
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.
learn more
Board Meeting

Wednesday, September 21, 2022 - 11:00am
The meeting is open to the public. The public may also view and listen to the meeting via webcast by clicking the link below. Please Note: Due to building procedures, members of the public attending in-person should please RSVP by 4:30 p.m. on Tuesday, September 20, 2022. Members of the press should please call (800) 260-7313; Members of the public should please call (212) 803-3772. Members of the public may submit comments on the Agenda items in writing to [email protected] by Noon on Tuesday, September 20, 2022. All comments received by the deadline will be distributed to the Committee Members prior to the meeting and will posted on-line.
learn more
Press Release

Monday, September 19, 2022 - 4:40pm
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.
learn more
Report

Monday, September 19, 2022 - 3:19pm
Empire State Jobs Retention Program - Quarterly Report: 6/30/2022 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 second quarter, ending 6/30/2022. Empire State Jobs Retention Program Quarterly Report - Chart A: Businesses Admitted To Program Empire State Jobs Retention Program Quarterly Report- Chart B: Credits Issued
learn more
Report

Monday, September 19, 2022 - 2:59pm
Excelsior Jobs Program Quarterly Report: 6/30/2022 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 second quarter of 2022, ending 6/30/2022. 6/30/2022: 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 2011 & 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 CHART I - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Issued Credits- Tax Year 2019 CHART J - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Issued Credits- Tax Year 2020 CHART K - EXCELSIOR JOBS PROGRAM QUARTERLY REPORT - Businesses Issued Credits- Tax Year 2021
learn more
Board Meeting

Monday, September 19, 2022 - 11:00am
This meeting is open to the public.  The meeting will be streamed and available by clicking the link below.   Due to building procedures, those wishing to attend must RSVP by 12:00 p.m. on Friday, September 16.   RSVP press line (800) 260-7313; RSVP public line (518) 292-5105.    
learn more
Press Release

Friday, September 16, 2022 - 1:26pm
Will Leverage the Power of Advanced Materials to Promote Greater Environmental Sustainability and Drive Innovation Across the State Empire State Development (ESD) today announced the New York State Advanced Materials Innovation Challenge is open and accepting applications through September 30. As manufacturers statewide adopt cleaner and greener practices to eliminate waste and emissions, advanced materials have the potential to accelerate the process of making manufacturing more environmentally sustainable. To support these goals, the New York State Advanced Materials Innovation Challenge will award up to $150,000 for projects that will develop new materials or new applications of existing materials. Empire State Development President, CEO and Commissioner Hope Knight said, “Advances in materials science are providing groundbreaking opportunities to replace or reduce the use of toxic or excessive materials in manufacturing while also developing new and improved high-performance products. The strongest proposals for the New York State Innovation Challenge will deliver positive change by using or developing advanced materials that are themselves sustainable while creating applications that promote environmental sustainability.” New York State-based innovators are encouraged to submit projects for the Advanced Materials Innovation Challenge that achieve one or more of these goals: Reduce the use of toxic chemicals during manufacturing. Shorten the supply chain to use locally-sourced and sustainable materials instead of materials that require long-distance transportation. Identify, develop and/or validate alternative sustainable materials. Reduce or eliminate the creation of harmful byproducts during manufacturing. Reduce landfilling and/or repurpose waste from manufacturing or product end-of-life. FuzeHub Executive Director Elena Garuc said, “By using advanced materials to conserve natural resources and protect ecosystems now and in the future, New York State manufacturers can lead the way nationally and globally for environmental sustainability within this vital industry. New Yorkers are known for rising to the occasion and tackling big challenges — this is a moment for our state’s innovators and problem-solvers to create positive change by harnessing the power of advanced materials.” Innovation Challenge organizers expect to award three grants of $50,000 each. More details, including guidelines and the application, are available at fuzehub.com/innovation-challenge. Advanced materials are new or substantially enhanced materials that have unique properties or provide an improved performance relative to conventional materials, facilitating innovation that benefits industry, consumers and society. Across the state, advanced materials innovations involving ceramics, chemicals, glass, metals, plastics and more are enabling high-performance products in sectors ranging from semiconductors and aerospace to medical equipment and consumer products. The Jeff Lawrence Innovation Fund — which will serve as the source of funding for this Innovation Challenge — supports a set of activities designed to spur technology development and commercialization across New York State. Launched in December 2016, the fund is named for Jeff Lawrence, a champion of the New York manufacturing and entrepreneurial communities. Each year, the Innovation Fund provides more than $1 million in direct assistance to the manufacturing, research and development, technology and entrepreneurial ecosystems. To date, the fund has awarded $6.7 million in funding to support collaborative projects throughout the state. 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 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 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 www.regionalcouncils.ny.gov and www.esd.ny.gov. Contact: Kristin Devoe (ESD): [email protected] | 518.414.1087 John Mackowiak: [email protected] | 716-785-5475
learn more