The Agency-NY approved incentives for Green Mountain Electric Supply to transform an abandoned K-Mart plaza in Endicott into a warehouse and distribution center. Green Mountain plans to hire 20 warehouse drivers and truck drivers to work out of the 100,000 square foot facility. | Read More at Binghamton Homepage
SIVA Powers America Inducement, a company that manufactures and installs wind turbines, will be moving to the Town of Lockport's Industrial Development Park in late 2023 or early 2024. The company has an office in Amherst, and wants to begin assembling wind turbines in the IDA park, utilizing renewable energy in its coming facility. The company anticipates the creation of 15 permanent full time jobs and 5 part time positions within two years of the project's completion. | Read More at Here
The Village of Wellsville has been awarded $4.5 million in NY Forward funding designed to reinvigorate the village's downtown. NY Forward seeks to spur private investment in downtown areas by using state support to get projects off the ground. | Read More at The Evening Tribune
County of Chautauqua IDA has released their 2022 Annual Report detailing key accomplishments and victories the organization worked for over the course of 2022. | Read the Report Here
Yonkers IDA reported investment of $277 million in a number of developments for 2022, projected to create over 500 new residential units and 1,255 new construction jobs. Since 2019 developments approved by the IDA are expected to create 3,760 new residential units with ten percent set aside for affordable housing. | Read More at Real Estate Weekly
Mohawk Valley Community College has secured $2 million in federal incentives available as part of the CHIPS & Science Bill. This investment will be used to create a new semiconductor and advanced manufacturing job training job center at MVCC. | Read More at CNY Homepage
Mercedes-Benz has selected Wolfspeed Semiconductors for future iterations of its fleet of electric vehicles. Wolfspeed will manufacture the silicon-carbide devices in both their North Carolina, and Mohawk Valley facilities. The Mohawk Valley Fab, located in Marcy, is the world's largest silicon-carbide-fabrication facility. | Read More at CNY Business Journal
PM Plastics, a plastics manufacturer known for producing disks for the popular game Kan Jam, announced plans to undergo a $3 million expansion at its Orchard Park facility. This expansion will allow the company to retain 17 existing jobs and create 26 more. | Read More at ESD
Three North Country villages have received a total of $9 million in funding as part of the NY Forward program. The Village of Cape Vincent was awarded $4.5 million to create safer streets, port improvements, and improve connectivity to the waterfront. The village of Lyons Falls was awarded $2.25 million for projects designed to increase international tourism. The Village of Waddington was awarded $2.25 million for projects designed to enhance streetscapes, redevelop historic mixed-use buildings, and connect the downtown to the waterfront. | Read More at Inform NY
The Genesee County Economic Development Center (GCEDC) has accepted initial applications for incentives to advance two of the largest projects in County history. Edwards Vacuum has made a $212 million proposal for the first phase of the company's semiconductor dry pump manufacturing project at NY's Green Manufacturing mega sit at STAMP. Horizon Acres Associates, Inc. has proposed a $142 million investment to build six flex commercial/industrial facilities. | Read More at GCEDC
The City of Long Beach and the Village of Lindenhurst will each receive $4.5 million in funding as the Long Island region winners of the first round of NY Forward. Long Beach seeks to enhance its downtown's status as a major regional destination by increasing walkability, and build on existing strengths. Lindenhurst aims to create new multi-modal travel choices in and around downtown, transform underutilized properties into commercial space and mixed-use developments and invest in community amenities. | Read More at LongIsland.com
General Motors has announced a $68 million investment in its Rochester plant. Rochester’s plant will use $56 million to build cooling lines for electric vehicles and $12 million for GM’s next-generation Gen6 V8 combustion engine. | Read More at WHEC
CenterState CEO’s Director of Workforce Innovation, Aimee Durfee, recently took part in a panel discussion with Grow-NY on workforce pressures in agrifood systems. The panel covered what prospects and barriers exist for adoption by farms and food producers. | Watch the Discussion Here
Cornerstone Community Federal Credit Union is undergoing a project to rehab a building in Lockport. Once completed, this 5,715 square foot facility will serve as both a branch and office for the credit union. The project is anticipated to create 10 new full time positions. | Read More Here
The battery company Zinc8 will locate its manufacturing operations at the former IBM site called iPark 87 in Kingston. The $68 million investment will create 500 clean energy jobs. The project also includes 600 units of net-zero carbon housing. It's an addition to the local housing stock that Ulster County Executive Jen Metzger said is sorely needed. | Click here to read more.
Franklin County gets approval to create a land bank. Creating this land bank would essentially allow a county-created not-for-profit organization to acquire and redevelop vacant, abandoned and blighted properties around Franklin County. Land banks are typically established with the goal of making abandoned properties habitable again in an area where there’s a great affordable housing need — and returning properties to the tax roll.| Read more here
Governor Kathy Hochul will present the Executive Budget on Wednesday, February 1st at 12:00 p.m live from the Red Room in the State Capitol. | Watch Live Here
NYSEDC Events
Bio International Information Webinar with NewYorkBIO, NYSEDC, and ESD
NYSEDC Member, Niles French, a Senior Representative of Economic Development at National Grid, joined his family and daughter Maddie on the set of Good Morning America. Maddie, the 10-year-old from Staten Island, was featured for starting her own baking business, Maddie’s Sweet Treats, which donates a large portion of the proceeds to charity. | Watch the Video Here
Join this free webinar on February 16 at 1pm to learn how you can join the New York Delegation at Bio International in Boston. | Register here
The Bigger Picture
EDA Releases Interactive Map Detailing American Rescue Plan Awardee Locations
The EDA, which allocated $3 billion in funding to assist communities nationwide, has released an interactive map showing awardees throughout the US. | Read More Here
Managing State and Local Partnerships
Brookings has released a paper with interactive data outlining the case for better cooperation between states and local governments. With the federal government making historic investments in innovation, infrastructure, and other place-based assets the paper argues that this cooperation is more important than ever. | Read more and View the Date at Brookings
“Growing Your Workforce: Strategies to Raise Local Labor Force Participation"
IEDC announced the latest EDRP Report: “Growing Your Workforce: Strategies to Raise Local Labor Force Participation." This report shows how EDOs are engaging in new programs, policies and partnerships to reduce labor force barriers such as the lack of childcare, transportation, justice involvement, the benefits cliff, and more.| Click here to Download
New York State Policy and Programs
Applications are Still Open for the COVID-19 Capital Costs Tax Credit Program
Eligible NYS small businesses may receive a tax refund of up to $25,000 through the COVID-19 Capital Costs Tax Credit program overseen by Empire State Development and administered by FORWARD. Small businesses can start the application process through this prescreening tool. | Learn More About the Program Here
$30 Million Pre-seed and Seed Matching Fund Program Announced
The Pre-Seed and Seed Matching Fund Program, a $30 million program which will offer early-stage start-up companies $50,000 to $250,000 in growth assistance which they will match with funds from private sector co-investors, was announced on January 5th. The program is designed to support the development of businesses in high-growth industries, and the creation of "21st century jobs".
Funding for the program comes from the State Small Business Credit Initiative, part of the federal American Rescue Plan, to support small businesses, especially those owned by socially and economically disadvantaged individuals and very small businesses which traditionally do not receive sufficient access to capital or support. | Learn More about the Program Here
NYSERDA Launches Large-Scale Renewables Request for Information
NYSERDA has issued a Request for Information (LSRRFI23-1) related to the recently approved marginal capacity accreditation market design adopted by the New York Independent System Operator, Inc. NYSERDA is seeking feedback to inform proposed changes to existing and future Renewable Energy Certificate (REC) and Offshore Wind Renewable Energy Certificate (OREC) Purchase and Sale Agreements that utilize the Index REC and Index OREC pricing mechanisms. The comment period for LSRRFI23-1 ends on February 3, 2023, at 3:00 p.m. Read the Full Details of the RFI Here.
