Volume 1, Issue 4
April 2013
Economic Development By Numbers
A Note From ESD President, CEO and Commissioner Kenneth Adams


Here at Empire State Development, we not only work to provide programs that will support new and growing businesses across New York State, we carefully measure what we do to make sure those programs are achieving their intended results and giving New Yorkers the best 'bang for their buck.' 


To that end, I am pleased to share some key metrics with you surrounding our performance last year in providing incentives to help companies grow and create jobs here in New York.


Driven by Governor Andrew Cuomo's Regional Council initiative, 2012 was Empire State Development's biggest year to date: our staff successfully negotiated 237 economic development projects in 50 counties across the state. Our incentive packages included grants, loans and Excelsior tax credits.  These resources are committed through our performance-based system in which firms must make their investments and hire the workers they have committed to hiring prior to receiving their state support. To read more click here.


"...our 2012 economic development projects will leverage $3.16 billion in private sector investment and create or retain more than 67,000 jobs..." -Kenneth Adams, ESD President, CEO and Commissioner 


New York State Budget Highlights
"Bringing the People back into Government..." - Governor Andrew M. Cuomo


Last month, Governor Cuomo joined legislative leaders to announce the early passage of the 2013-14 New York State Budget. The enacted budget continues the state's focus on economic growth through a series of initiatives to create jobs and grow the economy like new tax cuts for small businesses and middle class families, and closes a $1.3 billion gap with no new taxes or fees. The budget passed both houses of the legislature days before the April 1 deadline, marking the first time New York has had three consecutive, on-time budgets since 1984.

"When I took office more than two years ago, New York was at a crossroads, with families and businesses leaving our state and a government that had lost the trust and confidence of the people," Governor Cuomo said. "With this budget, New York State is continuing to create good jobs, cut taxes for the middle class, lead the nation in education and civil rights reforms, and provide a model for a government that works." Continue reading more.  

Spotlight on Success: Regeneron 
Pharmaceuticals, Inc.
The world leader in biopharmaceutical research and development, and NYS's largest biotech company


Earlier this month, Regeneron joined with Governor Cuomo to announce the company will expand its corporate headquarters and laboratories in Westchester County, resulting in more than 400 new high-skill jobs and further cementing the reputation of New York State and the Hudson Valley as an emerging epicenter for biopharmaceutical growth.  

Regenaron, Inc. Tarrytown, NY


The expansion will enable the company to continue to accommodate the rapid growth it has experienced over the last six years - from 682 employees in 2007 to 2,000 today, including more than 1,300 employees in Tarrytown and nearly 600 at its industrial operations and product supply facility in Rensselaer, New York. For the full story, click here. 

Regional Spotlight
Mohawk Valley


The Mohawk Valley Regional Economic Development Council (MVREDC) has developed a strong Strategic Plan for job creation and economic growth in the six county Mohawk Valley region. After two rounds of Governor Cuomo's Regional Economic Development Council initiative, the Mohawk Valley has been awarded over $120 million in economic development resources to support more than 120 projects that will grow key industries, create much-needed jobs and drive the region's economy forward. For the full story, click here.  
America's Got Talent
New Judges, New Season, and New State
"The Tonight Show" and "America's Got Talent" Announce Plans to Relocate to NY
Recent surge of TV and film production happening here in NY  has restored our state as a global film production capital

On the heels of the extension of New York State's film & post-production tax credit program, administered by Empire State Development, NBC's top-rated summer series "America's Got Talent" and "The Tonight Show" announced their plans to move from their current locations in New Jersey and California, respectively, and come to New York.  


The state's popular tax credit program was extended through 2019 as part of the third consecutive on-time state budget passed in March.  The extension includes several new provisions to enhance and expand the program. There are new incentives, for example, to attract television shows produced in other states to New York to create jobs, spur tourism and generate new investments in New York. For full story, click here.    


ESD Events
Activities around New York State
that you can attend

ESD's Division of Science, Technology & Innovation (NYSTAR) continued hosting Solutions Fairs across the state in April. These hands-on, half day workshops actively match small and medium size manufacturers with the state's technology and business resources to introduce companies to new ways to grow their business. The Solutions Fair is specifically geared to help companies overcome production, engineering and product development challenges with innovative technology solutions. View full schedule
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