Businesses, Hospitals and Universities to Receive State Funding That Will Leverage Over $330 Million in Investment
Governor Andrew M. Cuomo today announced that $39.2 million in economic development funding has been approved for 34 projects that are spurring growth and opportunity across the state. The funding, approved by Empire State Development’s Board of Directors, supports projects that are creating 233 new jobs and retaining 1,589 existing New York State jobs – many of which have already been created or retained. This funding will also leverage $338.6 million in private assets and other public funding to support local businesses and projects that are building a strong foundation for future economic growth and job creation.
“With this funding, we are supporting regionally-significant initiatives and growing local economies across New York,” Governor Cuomo said. “This investment is another example of our commitment to developing key industries and creating new opportunities for companies and workers to thrive in every region of this state.”
“The funding approved by ESD’s Board of Directors will support regionally significant projects that are bolstering local economies and strengthening communities all across New York State,” said Empire State Development President, CEO & Commissioner Howard Zemsky. “By supporting small businesses, fostering key industry growth and maintaining critical employers, we are creating jobs and spurring growth from Western New York to Long Island, and ensuring that New York remains the state of opportunity.”
St. Peter’s Health Partners (Capital Region – Rensselaer County) – $1,250,000
St. Peter’s Health Partners, a not-for-profit organization, will use a grant of up to $1,250,000 for a portion of the cost to construct a 570-space parking deck as part of Phase I of a multi-year, multi-phase expansion project to support the viability of Samaritan and St. Mary’s Hospitals, two hospital facilities in Troy, NY. This priority project was completed in August 2015 and aligns with the Capital Region Economic Development Council’s (CREDC) Opportunity Agenda priority, as it focuses on redevelopment and investment in the City of Troy.
Central New York Region
Syracuse Community Hotel Redevelopment (Central New York Region – Onondaga County) – $3,645,000
Syracuse Community Hotel, Inc. will use a grant of up to $3.6 million to renovate and equip the vacant former Hotel Syracuse in preparation for its re-opening as the Marriot Downtown Syracuse. Construction and renovation commenced in July 2015, with the opening slated for December 2016. This priority project is consistent with the Central New York Regional Economic Development Council’s (CNYREDC) plan to revitalize the region’s urban core.
Cortland Downtown Partnership (Central New York Region – Cortland County) –$650,000
Cortland Downtown Partnership, an economic development organization, will use a grant of up to $650,000 to assist with the rehabilitation of the Cortland Business Innovation Center (CBIC), turning it into a venue for SUNY Cortland entrepreneurship training that will incubate start-up businesses and provide business-related internship opportunities for SUNY students. This priority project, which was completed in July 2015, is consistent with the Central New York Region Economic Development Council’s plan to transform the regional business climate through local government collaboration.
Marquardt Switches Global Technology Center (Central New York Region – Madison County) – $600,000
Marquardt Switches, Inc., a global leader in the field of electronic switching systems, will use a grant of up to $600,000 to assist with construction, renovations and the purchase of machinery and equipment for the Marquardt’s Global Technology Center in Cazenovia. This project, which was completed in August 2015, is consistent with the Central New York Regional Economic Development Council’s plan to strengthen targeted industry concentrations, such as advanced manufacturing, that will leverage the region’s unique economic assets. As a result of this project, the company will retain 350 jobs.
Southern Graphic Systems (Central New York Region – Oswego County) – $200,000
Southern Graphic Systems, LLC, a printing company that provides marketing and print media services to the international consumer products packaging market, will use a grant of up to $200,000 to upgrade its chrome and copper plating processes at its facility in Phoenix. This priority project was completed in September 2015 and is consistent with the Central New York Regional Economic Development Council’s (CNYREDC) plan as it aligns with the goal of improving competitiveness in, and connections to, the region, national, and global economies. As a result of the project, Southern Graphic Systems will retain 26 existing jobs and create six new jobs. The company has already created four new jobs.
Long Island Region
New York Institute of Technology (Long Island Region – Nassau County) – $400,000
New York Institute of Technology (NYIT), an independent educational Institution, will use a grant of up to $400,000 for a portion of the costs required to renovate a 5,300-square-foot facility to house the NYIT School of Engineering and Computing Sciences’ new Entrepreneurship and Technology Innovation Center, three laboratories in the critical areas of health analytics and bioengineering, IT, cyber security and energy and green technologies. As a result of the project, NYIT retained 791 existing jobs and pledged to create nine jobs at the project location. The institution has already created seven new jobs.
Farmingdale State College (Long Island Region – Suffolk County) – $250,000
The Research Foundation for the State University of New York (SUNY RF) will use a grant of up to $250,000, on behalf of Farmingdale State College, to support renovations of classes and labs, as well as the acquisition of equipment and addition of new faculty to expand the School of Engineering, helping to address the shortage of engineers on Long Island.
The project, which was completed in March 2015, is consistent with the Long Island Regional Economic Development Council’s plan to collaborate among academia, the private and public sectors and labor to protect and grow advanced manufacturing while encouraging innovation in the life sciences, information technology, clean energy, and defense and homeland security. As a result of this project, the college will create four new jobs at the School of Engineering, and has already created two jobs.
North Country Region
North Country Redevelopment Fund (North Country Region – Jefferson, Lewis, St. Lawrence, Essex, Franklin, Hamilton and Clinton Counties) – $5,000,000
The Development Authority of the North Country (DANC), a New York State public benefit corporation, will use a grant of up to $5 million to establish the North Country Redevelopment Fund, a revolving loan and grant fund to develop facilities in the North Country Region. The fund will help to advance projects that will redevelop and transform communities and facilities, enhancing quality of life, attracting additional private investment, and retaining and creating jobs.
This project is consistent with the North Country Regional Economic Development Council’s (NCREDC) strategy to put tools in place to attract private investment, which will drive demand to revitalize communities and create a climate that will allow entrepreneurs to flourish.
Southern Tier Region
Cornell University (Southern Tier Region – Tompkins County) – $500,000
Cornell University will use a grant of up to $500,000 for a portion of the renovations, machinery and equipment costs associated with the rehabilitation of Stocking Hall, including renovations and upgrades to the Food Processing and Development Laboratory. As a result of this project, Cornell retained 56 jobs and will indirectly support job creation in the dairy and farming industries.
Finger Lakes Region
New York Photonics (Finger Lakes Region – Monroe County) – $400,000
New York Photonics, a photonics and optics organization, will use a grant of up to $400,000 to assist with purchasing two metrology tools that test design wavelength and broadly-varying wavelength requirements for different optic products, such as Infrared imaging, to be used by members of the organization for research, development and testing. This priority project is consistent with the Finger Lakes Regional Economic Development Council’s plan as it supports two key industry sectors, Optics, Imaging and Photonics; and Advanced Manufacturing.
High Tech Rochester Business Accelerator (Finger Lakes Region – Monroe County) – $150,000
High Tech Rochester Inc. (HTR), a subsidiary of the University of Rochester that assists technology innovators with growing their businesses and creating new products, will use a grant of up to $150,000 for a portion of the cost of purchasing and installing video conferencing systems at 10 satellite offices located at economic development organizations across the nine-county Finger Lakes Region, as part of HTR’s Business Accelerator Consortium. This priority project is consistent with the Finger Lakes Regional Economic Development Council’s plan as it supports the regional strategy to optimize business creation, retention and expansion.
Western New York Region
Buffalo Niagara Medical Campus (Western New York Region – Erie County) – $15,000,000
The Buffalo Niagara Medical Campus, Inc. (BNMC) will use a grant of up to $15 million to support infrastructure investments, specifically the corridors and bridges that connect the John R. Oishei Children’s Hospital, currently under construction, with other structures on the Buffalo Niagara Medical Campus. The project, which includes the Oishei Hospital construction, will provide the only comprehensive pediatric healthcare facility in the Western New York Region. The Hospital will offer a full range of pediatric emergency, Level 1 pediatric trauma, pediatric and maternal inpatient services, OB/GYN care, dieticians, and social workers for the region’s women and children. The corridors and bridges will enhance accessibility between a network of buildings on the Campus to facilitate collaboration across health care, training, research and business, allowing the Campus to continue to expand as a hub for medical innovation and excellence.
Buffalo Streetscapes II(Western New York Region – Erie County) – $2,000,000
The City of Buffalo will use a grant of up to $2,000,000 for a portion of the costs to implement Streetscape and infrastructure development in three separate downtown Buffalo districts to advance and improve traffic flow and connectivity between the separate downtown districts. This priority project will be completed in summer 2016, and is consistent with the Western New York Regional Economic Development Council’s (WNYREDC) plan to revitalize the City’s downtown core to promote smart growth, attract tourism and young adults, and retain and expand business opportunities.
NFTA Niagara Falls International Airport Master Plan (Western New York Region – Niagara County) – $970,000
The Niagara Frontier Transportation Authority (NFTA), a public authority and the state’s second largest transit provider, will use a grant of up to $970,000 as reimbursement for a portion of planning and study costs associated with the completion of the comprehensive Master Plan for the Niagara Falls International Airport (NFIA). This priority project was completed in June 2015 and is consistent with the Western New York Regional Economic Development Council’s (WNYREDC) plan to create a comprehensive strategy to sustain and improve an international airport in the Western New York region.
Bush Industries (Western New York Region – Chautauqua County) – $900,000
Bush Industries, Inc., which designs and manufactures ready-to-assemble wood entertainment, storage and office furniture, will continue operations in Jamestown and retain 230 employees through January 2022. Without ESD’s assistance, private investors would have likely closed the facility and moved the operations overseas, which would have caused over 200 employees in Chautauqua County to lose their jobs.
RubberFormRecycled Products, LLC (Western New York Region – Niagara County) – $250,000
RubberForm Recycled Products, LLC, a manufacturer of recycled plastic and tires, acquired new machinery and equipment needed to expand and automate its manufacturing system at the company’s facility in Lockport. The project, which was completed in August 2015, will retain 11 existing jobs and create 9 new jobs by January 1, 2016.
TMP Acquisition, Inc. (Western New York and Finger Lakes Regions – Erie and Wyoming Counties) – $250,000
TMP Acquisitions, Inc. acquired the assets of TMP Technologies Inc., Time Release Sciences, Inc., and Advanced Rubber Products, all of which were in danger of being acquired and having production shifted offshore, placing all three companies at risk of closure. ESD offered a $250,000 capital grant to aid in the acquisition effort to keep all three companies in Western New York. This project, which was completed in May 2015, will retain 124 jobs and create eight new jobs.
Ulster County STRIVE (Mid-Hudson Region – Ulster County) – $1,500,000
Ulster County will use a grant of up to $1.5 million to assist with reconstruction of a 30,000-square-foot elementary school to serve as the new SUNY Ulster satellite campus. The project, which was completed in August 2015, is consistent with the Mid-Hudson Regional Economic Development Council’s plan to support the revitalization of the region’s urban centers as engines of regional prosperity and promoting infrastructure investment in priority growth areas.
Community Capital New York (Mid-Hudson Region – Westchester County) – $1,000,000
Community Capital New York, Inc. (CCNY), a certified community development financial institution, will use a grant of up to $1,000,000 for a portion of the cost to finance a revolving loan fund for small businesses in the Mid-Hudson region. This priority project is consistent with the Mid-Hudson Regional Economic Development Council’s (MHREDC) plan to promote small businesses through a variety of measures that will make it easier to access public and private sector resources for access to capital, workforce training and business and technical consulting.
Hudson Valley Brewery (Mid-Hudson Region – Dutchess County) – $450,000
Hudson Valley Brewery, Inc. (HVB), a craft beverage brewing company, will use a grant of up to $450,000 to assist with renovations to a historic factory building in Beacon, which will include an over 5,000-square-foot tasting room, 20bbl brew system and a full canning and packaging line. This priority project, which will be completed in January 2016, is consistent with the Mid-Hudson Regional Economic Development Council’s Plan to further develop the industry and raise the profile of New York’s beverage producers. As a result of this project, HVB will create 10 new jobs.
Market NY Grants (Multiple Regions)
Market NY Grant Program – (Multiple Regions) – $3,854,899
Market NY is a regional tourism marketing program that supports regionally themed New York-focused projects and bolsters tourism growth by promoting tourism destinations, attractions and special events, and also by providing funding for tourism facilities in New York State. Market NY will use up to $836,915 of $10 million in Market NY Round 3 Regional Tourism grant assistance and $3.017 million of the $12 million in Market NY Round 4 Regional Tourism grant to be used for tourism marketing and or tourism capital throughout various regions of New York State. Each grantee has identified and prioritized Regional Marketing Tourism projects that support the Regional Council’s strategic plans for tourism and will coordinate with New York State’s “I LOVE NEW YORK” tourism division to maximize the overall program impact statewide.
Grants for the following projects were approved:
- Thomas Cole National Historic Site – Thomas Cole House Capital (Greene County) – $500,000
- The Clemens Center – Clemens Tourism Destination Initiative Capital (Chemung County) – $39,415
- The Clemens Center – Clemens Tourism Destination Initiative Working Capital (Chemung County) – $50,000
- Town of DeWitt – Willis Carrier Recreation Center Capital (Onondaga County) – $100,500
- Town of DeWitt – Willis Carrier Recreation Center Working Capital (Onondaga County) – $147,000
- Fort Ticonderoga Association – Fort Ticonderoga Tourism Capital (Essex County) – $70,554
- National Baseball Hall of Fame & Museum (NBHOF) – NBHOF Collection Digitization Working Capital (Otsego County) – $750,000
- Village of Sleepy Hollow – Sleepy Hollow Multicultural Arts Celebration Working Capital (Westchester County) – $45,000
- Niagara County Community College – Niagara Falls Culinary Institute Working Capital (Niagara County) – $99,930
- Cayuga Wine Trail, Inc. – Winery WayFinding and Marketing Working Capital (Seneca, Tompkins and Cayuga Counties) – $75,000
- Cortland Downtown Partnership – Ski Cortland Capital (Cortland County) – $90,000
- Cortland Downtown Partnership – Ski Cortland Working Capital (Cortland County) – $750,000
- The Olana Partnership – River Crossing Creative Marketing Working Capital (Columbia County) – $200,000
- CenterState Corporation for Economic Opportunity – Syracuse Destination Brand Marketing Working Capital (Onondaga County) – $375,000
- LPEC Quality Destination, Inc. – Winter Games Go Global Working Capital – (Essex County) – 275,000
- Buffalo Niagara Convention & Visitors Bureau – Buffalo Niagara Convention & Visitors Bureau Working Capital (Erie County) – $250,000
- Hanford Mills Museum – Exploring Route 28: Kingston to Herkimer Working Capital (Delaware County) – $37,500
The next meeting of the ESD Board of Directors will be in November.
About Empire State Development
Empire State Development 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 Governor Cuomo’s 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.