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Board Meeting

Friday, June 3, 2022 - 4:30pm
In accordance with current Legislation, 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, June 2, 2022. All comments received by the deadline will be distributed to the Directors prior to the meeting and will be posted on-line.
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Press Release

Thursday, June 2, 2022 - 5:20pm
Buffalo-based Accelerator Kicks Off Search for Five Companies to Receive Increased Prize of $1 Million Each  Governor Kathy Hochul today announced that applications are now being accepted for the eighth year of 43North, the state-funded accelerator that invests $5 million annually to attract world-class entrepreneurs to grow their businesses in Buffalo. This year, 43North is changing its terms by offering companies the chance to receive an even larger individual award than in previous years. 43North will select five seed-stage startups to receive an investment of $1 million each. The winners will join 43North's accelerator program, which has a proven track record of picking and elevating high-growth winners.  "Since its launch in 2014, 43North has created a new epicenter of technology and innovation in Buffalo," Governor Hochul said. "Now, as we build back better than ever from the pandemic, 43North continues to revitalize this community and encourage the next generation of entrepreneurs and creators to build and participate in Buffalo's growth. Innovation has always been at the heart of this city and I applaud 43North for their role in helping spur economic opportunity."  On October 20, 2022, 43North will host an exciting live competition at Shea's Performing Arts Center in Buffalo, where a panel of judges will consider pitches from ten finalists, then select and announce the five winning companies on stage. The startups selected to join 43North's 2023 cohort will each receive a $1 million investment, as well as office space, mentorship, and support from 43North. They will also have access to 43North's network of more than 600 North American investors. Companies will also have the opportunity to enroll in the START-UP NY program, and 43North's mentorship and support program, which includes:  One-to-one mentorship, workshops, and access to a bank of consultant hours;  Access to recruitment support services to help them grow their teams in Buffalo;  Connections for business development;  Marketing and media relations support; Investor introductions Selected companies agree to provide 5 percent equity to 43North and to locate their CEO and a minimum of half of their staff in Buffalo for at least a year. See the full terms and conditions here.  Empire State Development Commissioner and President & CEO Hope Knight said, "There has never been a better time to build a startup in Buffalo. More Western New Yorkers than ever are connected to the region's growing startup ecosystem—from investors, employees and suppliers to mentors, customers and service providers. We encourage startups with strong growth potential to compete for one of five $1 million prizes and the chance to scale their companies in Buffalo's thriving high-tech hub."    Read the full press release here.
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Press Release

Thursday, June 2, 2022 - 1:00pm
Project Supported by $4.1 Million Grant from North Country's Upstate Revitalization Initiative Advances Regional Strategy of Supporting Lodging and Tourism Infrastructure  Governor Kathy Hochul today announced that SpringCity Development Group, a subsidiary of Bonacio Construction, Inc, plans to invest nearly $21 million to acquire, renovate and revitalize the former Brown Swan Club on the shores of Schroon Lake in the Town of Schroon, Essex County. Built in 1917, the existing buildings will be converted into the Brown Swan Resort, a premier Adirondack destination, a planned 121 guest rooms including 69 standard rooms, 25 suites, nine seasonal chalets, eight cabins and 10 glamping sites. The resort will include a 10,000 square-foot world-class restaurant and extensive indoor and outdoor amenities for guests such as miniature golf, multipurpose sports courts and guest swimming areas with docks and a deck.  "As we continue to build back from the pandemic, it is essential that we promote tourism in every corner of New York State to help spur economic growth," Governor Hochul said. "I'm proud to support the Brown Swan Resort on Schroon Lake, which will entice people from all over to visit the Adirondack community. Projects like these send a clear message to the world: New York is back and we welcome you with open arms." SpringCity Development has partnered with Sonny and Julie Bonacio and Andrea Crisafulli and Alan Ayers to acquire and revitalize the Brown Swan Club, which most recently served as the Word of Life Lodge. The resort's day-to-day operations will be handled by Hay Creek Hotels, a highly-decorated hotel operator known for its unique and boutique authentic and locally-inspired guest experiences at 32 locations across the United States.   Sonny Bonacio, President of Bonacio Construction Inc., said, "This site is an absolute gem. While extensive updates and upgrades are required as part of this project, you can't beat the location. We have been looking in this area for a while to create a project like this, so when the opportunity presented itself, we couldn't say yes fast enough! We are excited to work with Andrea and Alan and the Hay Creek Team to bring our collective vision to life."  Empire State Development President, CEO and Commissioner Hope Knight said, "Transforming this iconic resort will welcome residents and visitors to Schroon Lake, supporting the local and regional tourism economies. The revitalized Brown Swan Resort will further the region's plans to grow the tourism economy by capitalizing on the natural beauty of the lake and creating a destination that invites guests to explore and experience the surrounding communities."  Read the full press release here.
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Press Release

Wednesday, June 1, 2022 - 2:28pm
As Follow-up to 2023 Budget Announcement, State will Partner with Private Funders and Municipal Governments to Invest in Economically Distressed Locations in Each City Governor Kathy Hochul today released details for the Regional Revitalization Partnership, a multi-year collaborative initiative between New York State's Empire State Development, local municipalities and private philanthropic partners. Components of the RRP, which will target economically distressed city neighborhoods in Buffalo, Niagara Falls and Rochester, were initially announced on April 25, 2022 by Governor Hochul as part of the Fiscal Year 2023 New York State budget. A summary of the RRP's strategies, implementation approach, projects, programs and targeted geographic areas is available here. "This public-private partnership will be a catalyst for economic development throughout these communities, and will serve as a model for cities across the nation," Governor Hochul said. "As we build back better than ever from the COVID pandemic, this holistic strategy will help lift up the most underserved neighborhoods in Buffalo, Niagara Falls and Rochester. New York State will continue to take bold action to transform communities and build a stronger, fairer future for all New Yorkers."  New York State Empire State Development Commissioner and President & CEO Hope Knight said, "Investing in this coordinated, collaborative, strategic approach will maximize the benefits and reach of each state dollar invested. This ambitious community effort will lead to transformational projects for these city neighborhoods and serve as a model that can be replicated throughout New York State." Developed through a collaborative effort throughout 2021, the RRP is a $300 million private and public regional co-investment in three interconnected geographic areas: Buffalo, Niagara Falls and Rochester. This community-driven strategy seeks to build local wealth and empower residents using a model that drives economic development through government and philanthropy partnerships. Read the full press release here.
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Press Release

Thursday, May 26, 2022 - 12:09pm
HII Will Serve as the Anchor Tenant in Former Sibley Building on South Salina Street; Commits to Creating More than 80 New Jobs NYS Investment Complements “CNY Rising” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy Empire State Development (ESD) today announced that the all-domain defense and technologies partner, HII will expand its operations in downtown Syracuse and occupy 50,000 square-feet of renovated space in the former Sibley Building located on South Salina Street. The company’s Mission Technologies division will serve as an anchor tenant in the repurposed space which is currently being transformed into a mixed-use facility that will feature office, commercial and retail space, as well as residential units. As a result of the consolidation, HII has committed to creating more than 80 new jobs at the site and expects to be operational in the new space in the first quarter of 2023.  Empire State Development President, CEO & Commissioner Hope Knight said, “The Central New York Region offers companies like HII an experienced, high-tech workforce that promotes growth and opportunity. Thanks to Governor Hochul’s continued laser focus on workforce development, businesses are creating the jobs of tomorrow and fueling New York’s innovation economy.”  HII is a global engineering and defense technologies provider. With a 135-year history of trusted partnerships in advancing U.S. national security, HII delivers critical capabilities ranging from the most powerful and survivable naval ships ever built, to unmanned systems, ISR and AI/ML analytics. HII leads the industry in mission-driven solutions that support and enable a networked, all-domain force. Headquartered in Virginia, HII’s skilled workforce is 44,000 strong. According to Forbes, the company is also ranked 11 of America’s Best Large Employers. “With our nation’s increasing demand for mission-critical advanced technologies, we are committed to investing in and expanding our research and development capabilities,” said Andy Green, HII executive vice president and president of Mission Technologies. “Our expanded presence in New York will ensure our continued support to our customers’ missions today and into the future.”  ESD is assisting HII with the revitalization of the South Salina Street location with up to $3 million through the Excelsior jobs Tax Credit Program. The Syracuse Industrial Development Agency also assisted with the project. The total cost for the project renovation has been placed at $5.5 million. This latest project further supports the transformation already underway in downtown Syracuse.  The Central New York Regional Economic Development Council has focused its attention on the rehabilitation of downtown. Those efforts include the revitalization of the historic Hotel Syracuse, now known as the Marriott Syracuse Downtown, the expansion of The Tech Garden, which is helping forward-thinking entrepreneurs to grow their ideas, the renovation of the former Excellus building into the Icon Tower multi-use facility, the redevelopment of the former Post-Standard building, and the establishment of online marketplace and software business TCGPlayers’ innovative headquarters on South Warren Street. Additionally, in 2021, the city of Syracuse was named as a round five, $10 million Downtown Revitalization Initiative winner. That effort serves as a cornerstone of the state's economic development policy, meant to transform downtown neighborhoods into vibrant centers of activity that offer a high quality of life and attract redevelopment, businesses, jobs, and economic and housing diversity. Assemblymember William B. Magnarelli said, “HII establishing its location in downtown Syracuse is reflective of Central New York’s commitment to creating an innovative economy that is focused on both workforce development and job creation. We look forward to welcoming HII downtown and providing their employees with the wonderful opportunities found in Central New York.” County Executive Ryan McMahon said, “Thank you to HII for expanding its presence in Onondaga County and for its commitment to our local downtown as it continues its renaissance. This innovative company’s move to the repurposed Sibley Building will only add to that momentum by creating high-quality jobs for the residents of our community, resulting in a greater quality of life here for generations to come.” Syracuse Mayor Ben Walsh said, “I am grateful to HII for its decision to invest in Syracuse, and to Governor Hochul, Empire State Development and the Syracuse Industrial Development Agency for their assistance in making it happen. This exciting project accelerates the resurgence in Downtown Syracuse, which has seen a renaissance in recent years, contributing to job and population growth. HII’s presence as an anchor tenant in the former Sibley’s building will enhance our presence as a smart city and provide great job opportunities for current and future residents alike.” CenterState CEO President Robert Simpson said, “HII’s official move into City Center marks an important milestone in the redevelopment of Syracuse’s downtown as this project is a significant transformation of our city’s main street. We are excited to welcome this exciting high-tech company and its 80 employees into our community and support their growth, which also aligns with our focus to attract and support companies in the data to decisions sector, and highlights the success of our region’s economic development strategy.” For additional information about HII, visit: https://tsd.huntingtoningalls.com/ Accelerating CNY Rising Today's announcement complements “CNY Rising,” the region’s comprehensive blueprint to generate robust economic growth and community development. The regionally designed plan focuses on capitalizing on global market opportunities, strengthening entrepreneurship and creating an inclusive economy. Now, the region is accelerating CNY Rising with a $500 million State investment through the Upstate Revitalization Initiative. 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 5,900 new jobs. More information is available here. 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: Shari Vincent | [email protected]| (585) 399-7055 | (800) 260-7313 Press Office | [email protected] | (800) 260-7313
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Press Release

Wednesday, May 25, 2022 - 1:00pm
VET S.T.E.P. Career Skills Program Will Train Service Members from Across the Country and Partner with Industry for Employment Opportunities Governor Kathy Hochul today announced the Department of the Army has approved the Veteran Semiconductor Training and Experience Program, or VET S.T.E.P., as an official Career Skills Program, part of the Department of Defense SkillBridge network. These programs assist service members, from all branches nationwide, as they transition out of the military and into civilian careers by providing industry-specific training, internships and other work experience. VET S.T.E.P.'s outreach to military installations will serve to educate service members about the employment opportunities available, demonstrate the transferability of military training and discipline to the microelectronics manufacturing field, and provide them with industry-specific onboarding to give participants the skills they need to land the job. "In New York, we are deeply committed to supporting the brave men and women who serve and protect our country, and we are forever thankful for their service," Governor Hochul said. "Today, we reaffirm our commitment to New York's service members with concrete action, and the new VET S.T.E.P. program is the latest example of our workforce initiatives focused on helping veterans find meaningful, long-term employment after leaving the military. This new program will serve as a model for the rest of the nation to follow, and will put veterans on the path toward a successful career while strengthening the U.S. semiconductor industry." NY CREATES President David Anderson said, "We are proud to launch the new VET S.T.E.P. initiative, which will honor active duty service members and veterans by providing them with opportunities for long-term, rewarding careers in the semiconductor industry. The men and women who serve our country are talented, hardworking, and dedicated - all qualities that are sought by global industry leaders. VET S.T.E.P. will offer a comprehensive training and experience program that connects veterans to companies and careers - and that's a win for everyone involved." Empire State Development President, CEO and Commissioner Hope Knight said, "The new Vet S.T.E.P. program will generate new opportunities for our veterans by providing much needed skills that will amplify our high tech workforce, a key component to growing the semiconductor industry in New York State. I applaud our partners at NY CREATES for developing this innovative program which will ensure a robust talent pipeline for the future." Read the full press release here.
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Report

Wednesday, May 25, 2022 - 9:33am
Empire State Development oversees administration of the film production and post-production tax credits. This report reflects program activity during this quarter. The information presented includes projected spending, hires, and estimated credits for film and post-production projects deemed eligible to participate in the program, and, pursuant to new reporting requirements, actual spending, hires and credits issued to projects that have been completed and audited. 1. 03/31/2022: Film Tax Credit - Quarterly Report, Calendar Year 2022: 1st Quarter
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Press Release

Tuesday, May 24, 2022 - 11:00am
Robin Hood CEO Richard Buery, Former Sidewalk Labs CEO Dan Doctoroff to Lead Expert Panel Set to Convene in June  Panel Will Develop Recommendations for Reimagining How and Where People Work and Driving Inclusive Growth for the City and Region  Governor Kathy Hochul and New York City Mayor Eric Adams today announced the launch of "New" New York blue-ribbon panel to examine the future of New York City and the region's economy, to be led by co-chairs Robin Hood CEO Richard Buery and former Sidewalk Labs CEO Daniel Doctoroff. The "New" New York panel — one of 70 concrete proposals Mayor Adams first announced in his "Rebuild, Renew, Reinvent Blueprint for New York City's Economic Recovery" plan in March — will develop actionable strategies for the resurgence and resilience of the city's commercial districts. The initiative also builds upon Governor Hochul's ambitious 2022 State of the State agenda and fiscal year 2023 New York State budget, which made historic investments to advance economic opportunity for New Yorkers across all communities.  "It is critical that we find new, innovative solutions to move New York's economy forward as we continue to build back better than ever from the COVID pandemic," Governor Hochul said. "The 'New' New York panel is laying the groundwork today to usher in a brighter tomorrow, and their expertise will help support bold initiatives in every corner of the state. I thank Richard Buery and Dan Doctoroff for leading this effort, and look forward to working with them to create a New Era for New York."   "While our city continues to add jobs at a faster rate than the rest of the country, we have more work to do to ensure all New Yorkers can access family sustaining careers," said Mayor Adams. "The experts on our 'New' New York panel will identify actionable strategies to build a more equitable economy, reimagine our central business districts, and prepare our city to lead in the industries of the future. I am extremely pleased to have Richard Buery and Dan Doctoroff lending their experience and creativity to this critical effort."  The panel's recommendations will focus on how and where people work as well as the mix and use of space in key employment centers, with a goal of minimizing vacancy, catalyzing vibrancy, and bolstering the tax base. It will also inform New York City's path to an inclusive economic recovery with increased opportunities for New Yorkers to thrive in family-sustaining jobs.  Empire State Development Commissioner, President, and CEO Hope Knight said, "The economy of our region — and the nation — depend on a strong, vibrant, resilient New York. The 'New' New York panel convened by Governor Hochul and Mayor Adams includes some of the brightest and most determined New Yorkers, who — with their collective experience and expertise — will undoubtedly provide a thoughtful, actionable blueprint to expand New York's economy and ensure it provides opportunity for all."  Read the full press release here.
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Press Release

Monday, May 23, 2022 - 6:00pm
Panel of Leading Experts across Community and Economic Development, Real Estate, Criminal Justice Reform, and Government Will Convene to Examine Repurposing Shuttered Correctional Facilities in Impacted Communities  Empire State Development President & CEO Hope Knight and Ford Foundation President Darren Walker Named Co-Chairs  Governor Kathy Hochul today announced the ​launch of the Prison Redevelopment Commission focused on reimagin​ing closed prisons for innovative redevelopment opportunities across New York State. The fifteen-member panel, first announced as part of Governor Hochul’s 2022 State of the State address, is comprised of leading experts across real estate, community and economic development, ​criminal justice reform, and government. ​The panel will be led by Hope Knight, Commissioner, President and CEO of Empire State Development and Darren Walker, President at the Ford Foundation. “As New York continues to move forward, we are looking at ways to revitalize our economy, including reimagining shuttered state prison properties as hubs of regional opportunity,” Governor Hochul said. “As I promised in my State of the State, I have created a commission of public and private sector leaders, as well as economic development experts from around the country, to best connect our industry and workforce goals with action plans that will both save taxpayer money and bring these buildings to new life as economic engines. Our ultimate goal is to put New Yorkers to work, and I am confident this newly formed Prison Redevelopment Commission will help create an action plan to do just that.”  Empire State Development President, CEO & Commissioner Hope Knight said, “I am proud to accept Governor Hochul’s invitation to be co-leader of the newly created Prison Redevelopment Commission, and I look forward to working with Ford Foundation President Darren Walker and the expert members of this panel to make the Governor’s idea a reality. Workforce development is a priority for both the Governor and for ESD, and repurposing these former prison spaces into sites that can address regional industry needs will help to revive areas across the state, by moving from incarceration to innovation.” Read the full press release here.
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Press Release

Monday, May 23, 2022 - 4:19pm
Specialized Facility Exemplifies the Governor's Investments in High-Quality Supports and Services for Vulnerable Youth Supporting Services to Provide Training and Counseling to Offer Bright Futures to 1,900 Youth Annually Governor Kathy Hochul today announced the opening of Covenant House New York's new $76 million facility that will provide housing and supportive services to youth who are experiencing homelessness and survivors of human trafficking. The new 80,000 square foot facility is the first purpose-built facility in the 50-year history of Covenant House serving young people in New York City. The facility features 1,500 square feet of outdoor space, six floors of residential shelter with up to 120 beds, and five floors of program space. The supportive programs include health and wellness services, workforce training, social case management, recreational activities, and advocacy and legal services. The facility will serve approximately 1,900 youth annually. "Supportive housing and social services are critical to helping ensure all New Yorkers have access to the resources they need to lead successful and meaningful lives," Governor Hochul said. "By supporting transformative projects like Covenant House New York's new state-of-the-art facility, we are helping our most vulnerable get back on a path toward stability and opportunity." Empire State Development President, CEO and Commissioner Hope Knight said, "Covenant House New York's new facility will provide the most vulnerable New Yorkers with the support, safety and stability they need to lead fulfilling lives. Through support services like CovWorks, at-risk and homeless youth have opportunities to learn, grow and succeed. Addressing the root causes of youth homelessness are crucial to providing assistance, and New York State continues to combat this issue through stable housing and economic opportunity." Read the full press release here.
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