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Thursday, September 14, 2023 - 2:00pm
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Press Release
Thursday, September 14, 2023 - 1:09pm
Startups From Around the World Are Encouraged to Apply for Round Seven if Their Technology Leverages Optics, Photonics, or Imaging
OPI Accelerator Competition is Supported Through “Finger Lakes Forward” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy
Empire State Development (ESD) today announced that Luminate NY—the world’s largest business accelerator for startup companies that have optics, photonics, and imaging (OPI) enabled technologies—is now accepting applications for its seventh cohort. Each year, the accelerator brings ten visionary companies to the Finger Lakes Region to leverage a rich ecosystem of resources to speed the commercialization of emerging technologies within a range of industries, such as autonomous vehicles, quantum computing, communications, advanced manufacturing, robotics, and augmented reality.
“The 64 companies currently in Luminate NY’s portfolio are speeding the commercialization of industry-changing technologies and businesses by leveraging the rich resources that help make New York State the OPI capital of the world,” said Empire State Development President, CEO and Commissioner Hope Knight. “We encourage startups to join this diverse group of fast-growing companies—now valued at more than $650 million—by applying to the Luminate accelerator to take advantage of all that New York has to offer.”
The companies selected to take part in round seven of Luminate NY will compete for one of 10 available slots and will each receive $100,000 upon acceptance. At the completion of the program, the teams will compete for a total of $2 million in follow-on funding, including a $1 million investment to the winning team and other investments totaling an additional $1 million. Teams winning follow-on funding must commit to doing some aspect of their business operations or manufacturing in the region for at least 18 months.
Applicants for Luminate NY must be incorporated, have at least two full-time employees, and should have proven their core technology, preferably having developed a working prototype. Once admitted, companies will receive assistance, including capital, access to comprehensive lab facilities for technology development, education, and business mentoring. Applications will be accepted now through January 8, 2024.
Dr. Sujatha Ramanujan, Managing Director, Luminate NY said, “Luminate is proven to accelerate the trajectory of early-stage companies by providing founders with the mentorship, curriculum, and vetted vendors they need to de-risk both their businesses and technology development. We encourage founders located everywhere to sign up for one of our informational sessions to learn more about the many ways we can help startups tackle challenges and move forward.”
Luminate NY is funded by the transformative Finger Lakes Forward Upstate Revitalization Initiative, a comprehensive strategy to foster economic development and revitalize communities, and is administered by NextCorps. Located in Rochester, NY, the Luminate accelerator provides immediate funding paired with a six-month hybrid mentoring program to help new companies scale both their businesses and technologies. Program participation includes both virtual and in-person events.
The start of recruitment period comes just weeks before Luminate NY’s sixth cohort of companies competes for $2 million in follow-on funding during Luminate Finals 2023 on September 27, 2023. For the third year in a row, Optica is sponsoring finals, which will take place online via Zoom and in person at The Theatre at Innovation Square in Rochester, NY, at 11:30 a.m. EDT. Attendees can register for the free event here. In addition to seeing the teams compete for funding, the public will vote for their favorite startup, which will be awarded $10,000 as part of the annual New York State competition.
The Finger Lakes Region is home to an incredibly rich ecosystem for forward-thinking entrepreneurs who are looking to grow their business. Rochester offers the American Institute for Manufacturing Integrated Photonics’ Test, Assembly, and Packaging facility at Eastman Business Park, the University of Rochester’s Institute of Optics, the Rochester Institute of Technology, and more than 150 local OPI companies which employ more than 17,000 employees who are building on the region’s legacy as a global imaging leader.
State Senator Jeremy Cooney said, “Luminate NY is the future of startup companies across the Greater Rochester and Finger Lakes region. Their innovative approach to optics, photonics and imaging industries is helping to lay the foundation for new businesses to thrive in their early stages, stimulating New York’s economy for years to come. I support and encourage anyone embarking on a business venture to apply to this program and be a part of Rochester’s flourishing OPI industry.”
Assemblymember Harry Bronson said, “The Luminate NY Accelerator Program attracts the most dynamic light technology startups from across the globe; shining a spotlight on our community as a hub for innovation and entrepreneurship. This year’s finalists represent another round of innovations that will advance our optics, photonics and imaging industries. Their ingenuity and creativity will continue to bring job opportunities and investments to our region. We must meet their vision and successes with equitable workforce development programs that not only support emerging and expanding industries, but also provide career pathways for all members of our community.”
Monroe County Executive Adam Bello said, “Monroe County and the Finger Lakes Region is fast becoming a national leader in the high-tech optics, photonics and imaging industries, thanks in part to the Luminate NY business competition providing critical early support for entrepreneurs. Round 7 of this competition will continue to jumpstart the businesses of tomorrow and position our community as a global leader in the light-based products and services sector. Thank you to Gov. Kathy Hochul, Finger Lakes Forward and Empire State Development for continuing these key investments that boost our local economy.”
Rochester Mayor Malik Evans said, "Rochester has some of the most innovative, inventive and generous minds focused on optics, photonics and imaging collected in one community. The wealth of wisdom and support here in Rochester offers unparalleled opportunities for early-stage companies to take their ideas to the next level."
For additional information about Luminate NY, visit: https://luminate.org/.
To register for an informational session about Luminate NY, visit: Information Sessions.
For additional information about NextCorps, visit: https://nextcorps.org/.
Accelerating Finger Lakes Forward
Today’s announcement complements “Finger Lakes Forward,” the region’s comprehensive strategy to generate robust economic growth and community development. The regionally designed plan focuses on investing in key industries including photonics, agriculture and food production, and advanced manufacturing. More information is available here.
About Empire State Development
Empire State Development (ESD) is New York’s chief economic development agency (www.esd.ny.gov). 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 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:
Shari Voorhees-Vincent | [email protected] | (585) 399-7055
Press Office | [email protected] | (800) 260-7313
Shannon Wojcik | Luminate | [email protected] | (585) 831-6267
Board Meeting
Thursday, September 14, 2023 - 1:00pm
This meeting is open to the public.
Webcasting of the meeting is available by clicking the link below.
Due to building procedures, members of the public attending in-person should please RSVP by 5:00 p.m. on Wednesday, September 13, 2023.
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 12:00 pm on Wednesday, September 13, 2023.
All comments received by the deadline will be distributed to the Directors prior to the meeting and will be posted online.
Press Release
Wednesday, September 13, 2023 - 2:27pm
Industrial Furnace Supplier Will Be Adding 40 New Jobs with New Tonawanda Facility
View Photographs of the Expansion Project Here
Empire State Development (ESD) today announced the expansion of Retech Systems LLC, which makes high-tech titanium melting furnaces for contractors in the aerospace, defense, and medical industries. The company, which has been in operation for more than a half of a century, has outgrown its current headquarters on Northland Avenue in Buffalo. To accommodate the growth, it will lease additional space at 175 Milens Road in the Town of Tonawanda to expand manufacturing capabilities and warehouse the current inventory.
“Retech’s expansion marks yet another significant boost for the Western New York economy and further evidence that the manufacturing resurgence in the region is real,” said Empire State Development President, CEO & Commissioner Hope Knight. “Through the investment and leadership of Governor Hochul, a company is rising up and realizing its full potential, while also creating the jobs of the future in the manufacturing sector.”
To facilitate the company’s expansion, ESD is offering up to $500,000 through the Excelsior Jobs Program in exchange for job commitments. State support for the project requires the creation of 40 new full-time jobs by 2033 and the retention of 48 jobs in Western New York.
The project will cost approximately $10 million in total. It includes installing a large industrial melting furnace at the Northland location; installation of potentially two additional furnaces; new electrical, piping, and cranes; updating office spaces; and moving equipment to the new Tonawanda location. Retech’s industrial furnaces vary in size, with some measuring roughly half a football field in length and up to four stories high. Of course, the furnaces being installed at Northland and Milens will be smaller versions. The project is expected to be completed in stages with the last work likely being finished in the early 2025 timeframe.
Retech Managing Director and President Earl Good said, “Retech is excited to be expanding further in the Buffalo area by moving into the building at 175 Milens Road. The new space is necessary to meet our manufacturing needs and allow the continued development of new technologies – both for Retech and our customers. We have been happy with the support we have received in the Buffalo area so far, and we look forward to being part of the local community for a long time.”
Retech moved its headquarters from California to Western New York in 2018 to have access to Buffalo’s larger talent pool, particularly the graduates of local engineering programs. The company is also now closer to many of its customers and vendors, and Retech has taken advantage of the opportunity to develop new suppliers in the surrounding areas, which is resulting in the company’s exponential growth.
The Town of Tonawanda building is being leased from Uniland Development.
"We are excited to extend a warm welcome to Retech, as they join our vibrant industrial community within this prime building,” highlighted Uniland CEO Michael Montante. “Together, we embark on a journey of innovation and collaboration for this global industrial machinery manufacturer here in Western New York."
For more information about Retech Systems LLC, please visit: https://www.retechsystemsllc.com/
Senator Tim Kennedy said, “Retech's expansion is reflective not only of its innovative presence within the manufacturing industry, but of its commitment to our region's economy and our local workforce. By growing its operations and its employee base, Retech is actively creating opportunities in Western New York, and I applaud their forward-thinking vision and investment in our greater community."
Senator Sean Ryan said, “I'm thrilled to see the Excelsior Jobs Program helping a local employer create new manufacturing jobs. I commend Retech for recognizing Western New York's potential back when they moved their headquarters to Buffalo, and I thank them for this additional commitment to our region. It's great news for the Town of Tonawanda and great news for our local economy."
Assembly Majority Leader Crystal Peoples-Stokes said, “I applaud Retech Systems LLC on it decision to expand, as well as a thank you for expanding right here in WNY. Businesses’ abilities to sustain operations has been impacted by inflation, supply chain issues, and other unforeseen impediments. Growth is a true testament to Retech Systems’ leadership and the support provided by Governor Hochul, Empire State Development (ESD) President & CEO Hope Knight, and ESD’s staff. Congratulations.”
Assembly Member William Conrad said, "Western New York is proud to be a manufacturing hub, and our State is equally proud to support this region's tech development and the workforce needed to move manufacturing forward here for generations to come. I congratulate Retech on its expansion into the Town of Tonawanda, ensuring its place of prominence as a supplier to some of today's fastest growing fields, including aerospace engineering and medicine, and I am thankful for Empire State Development's continued investment in the companies of WNY, and in the creation and retention of jobs across our community."
Erie County Executive Mark Poloncarz said, “The expansion of Retech Systems, LLC is yet another example of Erie County’s booming economy. Businesses outgrowing their space is a ‘good problem’ to have and shows the tremendous turnaround Erie County and our region have experienced in the last ten to fifteen years. I thank Empire State Development and all of our partners who continue to boost our strong manufacturing base, which provide good paying jobs and ladders of economic opportunity.”
City of Buffalo Mayor Byron W. Brown said, “It's always exciting when a local business undergoes an expansion. Retech System, LLC has demonstrated a significant commitment to manufacturing in our region. I thank Governor Kathy Hochul for her support of the local workforce, through the Excelsior Jobs Program dozens of jobs will be created through Retech’s expansion.”
Town of Tonawanda Supervisor Joseph Emminger said, “Retech is joining a long list of industrial leaders that have chosen Tonawanda to be their home in WNY over the past 100-years. We welcome them and are very grateful to their leadership team and to Governor Hochul for bringing these well-paying jobs into our community!”
About Empire State Development
Empire State Development (ESD) is New York’s chief economic development agency (www.esd.ny.gov). 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 Regional Economic Development Councils and the marketing of “I LOVE NEW YORK,” 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:
Pamm Lent | [email protected] | (716) 846-8309 | (716) 560-8815
Laura Magee | [email protected] | (716) 846-8239 | (716) 374-4246
Press Release
Wednesday, September 13, 2023 - 12:58pm
New York’s Tourism Industry Generated More Than $78.6 Billion in Direct Spending and $123 Billion in Total Economic Impact in 2022 – Exceeding Previous Record From 2019
Follows Governor's “Bring Back Tourism, Bring Back Jobs” Initiative and Transformative Local Investments to Accelerate New York’s Pandemic Recovery
2022 Tourism Reports Available Online Here
Traducción al español
Governor Kathy Hochul today announced that New York State welcomed a record 291.5 million visitors in 2022, the largest number of visitors in New York State’s history, generating more than $78.6 billion in direct spending and $123 billion in total economic impact. These figures represent staggering increases over 2021 and surpass the previous records set in 2019, prior to the COVID-19 pandemic, following the Governor’s historic investments in tourism, economic development, public safety, transportation, and other key sectors. The data, released today in a series of reports by Tourism Economics, is available here.
“New York’s pandemic recovery has been one for the history books, and by welcoming an unprecedented 291 million visitors and generating billions of dollars in direct investment to our state, we’re writing the next chapter in our success story,” Governor Hochul said. “In the three years since the pandemic ground tourism to a halt, we have made transformative investments to uplift businesses, support workers in tourism and hospitality, and build a stronger, more welcoming New York. Now, from bustling New York City to the breathtaking Adirondack Mountains, visitors are confirming what we’ve known all along – New York is the place to be. Tourism continues to be an important driver behind our state’s economy, and my administration is committed to boosting the industry to make sure that visitors from around the world can see all that New York has to offer.”
Last year, the statewide economic impact of tourism reached a record-high $123 billion, representing a four percent increase over the $117.6 billion impact of 2019. Direct visitor spending was also up seven percent from 2019, growing to $79 billion from the previous record-high $73.6 billion. New York State also saw a 10% bump in visitation, with 291.5 million travelers compared to 266.7 million visitors in 2019. The year-over-year increases from 2021 to 2022 were overwhelming, with a 22% increase in visitation, over 50% gain in spending, and a more than 43% jump in economic impact. Additionally, the average New York State households saved $1,300 in taxes due to state and local tax revenues generated by tourism.
Empire State Development President, CEO and Commissioner Hope Knight said, "Tourism supports our small businesses and is vital to the economic sustainability of our state and regional economies. Under Governor Hochul's leadership, we continue to rebuild and grow this important industry through targeted investments and strategic efforts that invite and welcome visitors from around the world to explore and experience New York State."
Empire State Development Vice President and Executive Director of Tourism Ross D. Levi said, "The fact that New York State tourism has bounced back so strongly and quickly from the devastation of COVID is a testament to the collaborative efforts between New York State government and its public and private tourism partners. Even with some regional nuances, and some travel segments still trailing their pre-pandemic levels, this shows what can be achieved through a collective focus on the state's vital tourism sector to bring back visitation and spending."
Read the full press release here.
Report
Wednesday, September 13, 2023 - 8:34am
Economic Impact of Visitors in New York 2022 - Statewide
Economic Impact of Visitors in New York 2022 - Adirondacks
Economic Impact of Visitors in New York 2022 - Capital-Saratoga
Economic Impact of Visitors in New York 2022 - Catskills
Economic Impact of Visitors in New York 2022 - Central New York
Economic Impact of Visitors in New York 2022 - Chautauqua-Allegheny
Economic Impact of Visitors in New York 2022 - Finger Lakes
Economic Impact of Visitors in New York 2022 - Greater Niagara
Economic Impact of Visitors in New York 2022 - Hudson Valley
Economic Impact of Visitors in New York 2022 - Long Island
Economic Impact of Visitors in New York 2022 - New York City
Economic Impact of Visitors in New York 2022 - Thousand Islands
Press Release
Tuesday, September 12, 2023 - 2:43pm
Enhances the City of Hudson by Creating a Year-Round, Multi-Use Destination, Complementing the City’s Waterfront
All-Electric Heating and Cooling Systems, Energy Efficiency Upgrades, and Onsite Solar Arrays to Lower Carbon Footprint and Reduce Energy Costs
Governor Kathy Hochul today announced the completion of the Red Barn in Hudson, Columbia County. This new addition to Hudson’s historic waterfront, located in close proximity to Hudson’s train station, will provide visitors with dining and shopping options and includes over $6 million in construction costs for the new Caboose, an event space, a full-service restaurant, Grapefruit Wines retail store, plus spaces for other community activities. The recently completed Red Barn site, created by South Front Street Holdings LLC, offers a dynamic year-round, multi-use space that will amplify and complement other activities on Hudson's waterfront and help to further advance waterfront revitalization for the region.
“The Hudson River is one of New York State’s greatest assets and it is important to make investments that protect and preserve our natural environment while growing the economy in the surrounding communities,” Governor Hochul said. “The Red Barn in Hudson is a perfect example of sustainable construction that protects our environment, and it’s done in a way that will attract more businesses and grow the local tourism economy.”
Located in Hudson's Downtown Revitalization Initiative "BRIDGE District," the site includes a 6,500 square foot historic post and beam Barn building, and the 4,000 square foot Market Building. The Market Building houses Kitty’s Market and Restaurant, which is now joined by the Caboose and Grapefruit Wines in the adjacent Barn Building to create a space that will further activate and enliven Hudson’s waterfront district year-round. The site includes an expansive garden, which serves as the site for a dynamic roster of performances and other community programming.
The opening of Red Barn Hudson caps three years of construction, which transformed the two long neglected buildings in the heart of Hudson’s waterfront. Sustainable redevelopment, utilizing comprehensive green energy measures and rigorously engineered systems to achieve 100% carbon neutral operations for the Barn Building was a key element to the overall site planning. Renovations to the Barn Building included critical weatherization to seal the envelope using structural insulation panels (SIPs) to allow year-round, efficient energy performance with all-electric systems. Honoring the building’s past, the original structure and frame, including the beams, rafters and flooring, were preserved and meticulously restored, and were reused in the new building.
Originally an unconditioned wood structure that sat on cement pilings directly above the ground, similar to residential deck construction, the renovation encompassed significant improvements to rehabilitate and re-purpose this former derelict site with innovative green design, including a completely new foundation with a frost wall and a gravel layer to allow for water flow in the case of flooding, all extensively insulated; exterior walls and roof were removed, and replaced with structural insulation panels; rigorous weatherization to fully seal the thermal enclosure; and the installation of all-electric mechanical and energy systems. Honoring the building’s past, the original structure and frame, including the beams, rafters and flooring, were preserved and meticulously restored, and were reused in the new building. The facility will be powered from clean, renewable energy from onsite solar arrays.
Read the full press release here.
Board Meeting
Tuesday, September 12, 2023 - 11:00am
CANCELLED
Press Release
Friday, September 8, 2023 - 4:26pm
Dunkirk Company Will Invest $13 Million to Expand Warehousing and Distribution Capabilities
Builds on Governor’s Recent Investments to Boost Manufacturing Sector and Expand Economic Opportunity in City of Dunkirk
Governor Kathy Hochul today announced that Refresco Beverage will acquire a facility in Dunkirk to expand its warehousing and distribution capabilities, thanks to $500,000 in performance-based tax credits and a $500,000 Regional Economic Development Council Capital Grant. The project will support the existing 350 full-time jobs and create an additional 10 full-time jobs over the next five years, providing competitive salaries and benefits.
“By creating and supporting good jobs in Chautauqua County, Refresco’s expansion will build on the company’s long-standing role as a critical part of the region’s economy,” Governor Hochul said. “My administration will continue to support important projects like this that invest in the future of New York and help lay the foundation for economic growth for generations to come.”
Refresco is the global independent beverage solutions provider for Global, National and Emerging brands, and retailers with production in Europe, North America, and Australia, and has over 13,000 employees globally. It produces and bottles fruit and vegetable juices, mineral water, iced tea, sports drinks and carbonated beverages, for a total of almost 15 billion liters annually.
The beverage company purchased the long-vacant Kraft and ConAgra building, located at 26 East Talcott Street, from the County of Chautauqua Industrial Development Agency. Built in 1960, the three-story industrial food production facility includes a large warehouse space, office space, cold storage, a tank room, loading docks, and four rail sidings.
Empire State Development President, CEO & Commissioner Hope Knight said, “Refresco Beverages is a strong partner in the local business community, producing world-class beverages and contributing to the regional economy. Governor Hochul is proud to support this expansion project, which will both create jobs for Chautauqua County and grow the region’s beverage industry.”
Read the full press release here.
Public Notice
Friday, September 8, 2023 - 2:00pm
View all grants to be presented at the batch virtual public hearing.