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New York Related News

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Governor Cuomo Announces $7 Million For Improvements to Airport Infrastructure

Governor Andrew M. Cuomo today announced $7 million in funding is available for airport improvement projects across New York State. These grants, coming from the Governor’s Aviation Capital Grants Program, will go toward supporting airport infrastructure and economic development projects across the state. “For many, our airports are the gateways to New York and a significant part of economic growth and job creation,” Governor Cuomo said. “This funding will help ensure that our airports remain more accessible and convenient for...
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Empire State Development Announces Federal Grant Awarded To Global NY to Promote New York State Exports and Support Small Businesses

U.S. Small Business Administration Doubles New York’s Award In Round 4 Of STEP Program Empire State Development (ESD) today announced that Global NY, the agency’s international initiative, has been awarded a $663,893 State Trade and Export Promotion (STEP) Program grant from the U.S. Small Business Administration (SBA) to support the growth of New York exports to foreign markets around the globe. When combined with state matching funds, the STEP Program will invest more than $885,000 in small businesses statewide through...
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Trepp Credit Story: 100% Loss for Times Square Loan

According to September remittance data, the $25.7 million 1604 Broadway note was written off in full this month. The loan made up 0.86% of GECMC 2007-C1, which has now taken 8% in cumulative bond loss. The loan was backed by a 29,875 square-foot retail property located in the theater district of Times Square. The note was initially transferred to special servicing in November 2009 after losing its top tenant, Spotlight Times Square, to bankruptcy. The loan defaulted a month later and failed to refinance when it...
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Governor Cuomo Announces $388 Million In Funding For Critical Coastal Resiliency And Sewer Expansion Project In Suffolk County

Governor Andrew M. Cuomo today announced $388 million in State and federal funding to expand sanitary sewer service to 8,075 parcels of land in Suffolk County which currently utilize on-site septic systems. This project, which has been approved the Federal Emergency Management Agency's Hazard Mitigation Grant Program, represents the first step in instituting extensive measures to mitigate flooding and septic system failure in Suffolk County caused by Superstorm Sandy. “Long Islanders have seen first-hand and up-close the damage that Mother...
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Governor Cuomo on Rebuilding the Upstate Economy

For many years, Upstate New York was treated like a second class citizen, forced to watch Downstate thrive as the Upstate economy dwindled. Upstate was literally losing population and jobs – and maybe most importantly, it was losing hope. Much of this was a function of the changing economy, which shifted manufacturing to overseas. Also, some people left Upstate New York for warmer climates in what has become a more mobile society. But it is just as true that the...
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Governor Cuomo Announces $17.2 Million to Bolster Biomedical Research in New York State

Governor Cuomo announced $17.2 million in state awards to 26 academic medical institutions for the training of new clinical researchers working on cutting-edge biomedical research. These awards, administered over a two year period through the Empire Clinical Research Investigator Program, are vital to helping New York both attract new researchers and solidify itself as a national biomedical research hub. "Some of the world's most exciting and groundbreaking medical discoveries have been made possible by research done in New York medical...
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Mayor De Blasio Announces Tax Reform To Provide Relief To Nyc Businesses And Manufacturers, Modernize Nyc’s Corporate Tax System

Revenue-neutral reform will streamline City and State taxes by merging bank tax into new corporate tax—eliminating burdensome administration and improving compliance, while broadening the city’s tax base NEW YORK—Mayor Bill de Blasio proposed today a major reform of New York City’s corporate tax structure, modernizing an outdated system, providing vital tax relief to the city’s small businesses and local manufacturers, and streamlining City and State corporate tax codes. The revenue-neutral reforms will be retroactive to January 1, 2015. Certain New York City...
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Governor Cuomo And Mayor De Blasio Announce Integrated Flood Protection System Study And Design For Red Hook

State and City each commit an initial $50 million to launch the initiative, which will make the Brooklyn waterfront community more resilient – part of comprehensive, citywide resiliency plan NEW YORK—Governor Andrew M. Cuomo and Mayor Bill de Blasio today announced a Request for Proposals (RFP) for the study and design of an integrated flood protection system (IFPS) in the Red Hook neighborhood of Brooklyn. The project, for which the City and State are each committing an initial $50 million,...

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