The Cattaraugus County IDA aids $147 million in projects in 2022. The economic losses that took place among manufacturers from the 1970s to the 1990s and now the closing by Siemens Energy of the Dresser-Rand complex are starting to turn around, said Corey Witkor. “We are starting to see a new manufacturing commitment in Cattaraugus County,” he said. “This county has found a way and the right investors to do this.” | Read More at Olean Times Herald
Projects on Oswego’s Route 104 Corridor Benefit from National Grid Economic Development Program. Since 2003, National Grid’s 18 economic development programs have provided more than $125 million in assistance, helping to create or retain more than 60,000 jobs and supporting almost $10 billion in private and public investment across upstate New York. | Read more at Otsego County Today
Resorts World Hudson Valley has recently opened in the Town of Newburgh, drawing thousands to a mall that had recently struggled to attract visitors. Resorts World is paying the town of Newburgh $3 million a year and will employ 250 full-time workers with priority given to Newburgh residents. This casino is the newest in New York State and also represents Orange County's newest attraction. | Read More at MSN
Invest Buffalo Niagara has released a new labor market report emphasizing the importance of workforce development in the future growth of the Buffalo Niagara region. The report highlights five key challenges facing the eight county region; an aging workforce, racial disparities in the workforce, lack of skilled trade opportunities, lack of retention of local college graduates, and a mismatch between where available jobs are located and where the workforce lives. | Read a Breakdown of the Report on Buffalo News
The village of Ilion, with the assistance of the Herkimer County IDA, has received $2 million in Restore NY assistance slated to be used for the Duofold site in the the village. The grant will be used to regain jobs, improve housing stock and attract private investment with the goal of making the village a place where people want to stay, work and play. Redevelopment of the Duofold site into a mixed-use area with 81 market rate residences, and will increase the village's tax base. | Read More at the Daily Sentinel
Using Census Data the Center for Economic Growth has determined that the Albany-Schenectady Troy metro area has the 10th most jobs in the high tech industry amongst mid-sized metros. Reinforcing the Albany metro area’s claim to being a “Tech Valley", the Census Bureau found the five-county MSA had 25,502 jobs at 1,003 high tech establishments in 2020. That was the 49th most high tech jobs among all U.S. metros and the 10th most among mid-sized metros with populations between 250,000 and 999,999. | Read More at Center for Economic Growth
A project to renovate an office building in Westbury has received preliminary approval for economic incentives from the Town of Hempstead Industrial Development Agency. The project is expected to generate 50 construction jobs and 110 permanent full-time equivalent positions. | Read More at LIBN
More than $102 million has been awarded to 64 projects across NYS through the Restore NY Communities Initiative. More than $19 million has been awarded to the City of Albany, the Village of Endicott, and the City of Utica for for special projects for highly visible and blighted property improvements. | Learn More about the Projects Funded Here
NYCEDC and Newlab, in collaboration with Con Edison, have announced the five startups participating in the Resilient Energy Studio, a program designed to cultivate local energy storage capacity across New York City through entrepreneur-led pilot projects and collaboration with community organizations, energy experts, and leading industry stakeholders. | Learn More about the Program and the Startups at Newlab.com
Almost 1,500 athletes, from 595 Universities representing 43 countries, are expected to compete in the Lake Placid 2023 FISU Winter World University Games this month. When adding sports officials, medical staff, administration, media liaison, delegation officials and extra officials, the total number of participants is expected to be 2,186. | Read More at the Adirondack Daily Enterprise
An affordable housing project in Corinth has received a $1 million grant from the Federal Government. The project will provide 30 supportive housing apartments, 15 affordable senior housing apartments and 15 affordable community apartments, and is expected to break ground in January | Read More at the Times Union
How the Inflation Reduction Act Changes the Game for Economic Developers. The presentation by the Rocky Mountain Institute (RMI) connects the dots between the Inflation Reduction Act, CHIPS and Science Act, and Infrastructure Investment and Jobs Act through the lens of regional economic development and the accelerating clean energy transition, and share concrete steps you can take in your organization to make the most of momentum in these important areas. | View Recording and Presentation at IEDC Online
Retrofitting Office Space to Attract Life Sciences Companies
In the life sciences industry, business is booming; here’s how office buildings can satisfy the sector’s unflagging demand for space. | Read more at Area Development
The NYS Prison Redevelopment Commission has released their 2022 report. The 15-member panel was established in 2022, and is comprised of leading experts across real estate, community & economic development, criminal justice reform, and government. | Click Here to Learn More About the Commission
First Phase of $10 Million ConnectALL Pilot Initiative Bringing Affordable Broadband Internet Access to Rural Communities
New York's first ever municipal broadband network has been completed, marking a major milestone for the state's ConnectAll program. The network is the first phase of the ConnectALL 21st Century Municipal Infrastructure pilot program, which began in May using fiber optic infrastructure on the New York Power Authority's existing transmission system. | Read More Here
First Adult Use Retail Cannabis Sale Made in State History
The first legal sale of adult-use cannabis occurred at Housing Works Cannabis Co, on December 29. Housing Works, based in New York City, operates a range of direct and support services for people living with HIV/AIDS, the homeless, formerly incarcerated, and justice-involved individuals. It also operates a network of charitable retail storefronts. | Read More Here
Applications for Life Sciences and Workforce Development Now Open
Governor Hochul announced two Requests for Applications as part of the $350 million Long Island Investment Fund. Empire State Development will issue one RFA for the creation of a Life Science Accelerator Program and one for the creation of Workforce Development Training Centers. | Click Here For More Information on the Program, or to Apply
NYSERDA & NYSDPS Unveil 2022 Energy Storage Roadmap
NYSERDA and New York State Department of Public Service have published New York’s 2022 Energy Storage Roadmap, a new framework to achieve a nation-leading 6GW of energy storage by 2030 which represents at least 20% of the peak electricity load of NYS. The roadmap is a comprehensive strategy to expand New York’s energy storage programs and cost-effectively unlocking the growth of renewable energy across the state.
If approved, the roadmap will support a buildout of storage deployments estimated to reduce projected future statewide electric system costs by nearly $2 billion plus further benefits in the form of improved public health as a result of reduced exposure to fossil fuel pollutants. | Read the Full Announcement Here
