Long Island-based electronics company poised to have production solely in the U.S.The CEO of Hauppauge-based Orbic, a maker of electronic devices, is launching a made-in-the-USA effort. "The project name is 'Project Patriot,'" Narula said. He is moving his manufacturing of 5 million devices annually from India and China to Long Island.| See the full report at CBS New York.
Chautauqua County spent half of its $24.6 million in ARPA funds on economic development. Projects included site acquisition and water/sewer infrastructure for shovel-ready sites and the development of a new industrial park in the Ripley area near the Thruway. | Click here for a complete list of projects.
Winners Of $30 Million Regional Economic Development Council Challenge Competition Announced. Governor Hochul announced Long Island, the Mohawk Valley and the North Country as the winners of the 2023 $30 million Regional Economic Development Council Challenge Competition. As the winners of this year’s competition, REDCs in Long Island, the Mohawk Valley, and the North Country will receive $10 million in project awards to implement bold proposals to address the housing crisis and bolster workforce development efforts.| Get the full story.
The Suffolk County IDA has given preliminary approval for an $8 million project to improve technology at the Canon U.S.A. Long Island headquarters to enhance capabilities for employees who work remotely. |Read more at LI Business News
NYC Thrives as an Unlikely Silicon Valley of Climate Technology. Given that New York is known more for its financial, real estate, and media industries, its new identity as the nation’s burgeoning epicenter of clean tech has taken many by surprise. Some $3.5 billion in venture capital funding has flowed into the city’s climate tech sector since 2021, according to Climate Tech VC, an independent market research company. That’s a 250% spike over the $1 billion of investment from 2011 to 2016.| Read more at Bloomberg.
In immigration wave, an opportunity to expand New York's economy. The state has hundreds of thousands of jobs it's been unable to fill. Expanding job training and apprenticeship programs will benefit everyone. | Click here to read the Times Union Editorial.
Town of Brookhaven Industrial Development Agency closed on a workforce apartment project in East Patchogue. The GGV Grove Apartments LLC, a development group headed by Jericho-based Georgica Green Ventures, is planning to build a $33.75 million three-building rental complex with 55 apartments, which will be a mix of 21 one-bedroom units, 28 two-bedroom units and six three-bedroom units. The apartments will be available to renters of households earning 50 percent to 90 percent of the area’s average median income, according to an IDA statement. | Read more at LI Business News.
Plattsburgh International Airport (PBG) Airport Industrial Park redevelopment is steadily moving forward to reuse buildings shuttered here nearly three decades ago. The concept for an Airport Industrial Park was developed when the base closed. Vapor Stone Rail was one of the first companies to locate here in 1998, just after Clinton County took ownership of the airport and property along the western side of Arizona Avenue. The airport is so much more than commercial air service. It is home to many up-and-coming companies spurring growth in the North Country,| Read more at Sun Community News.
The first county-wide STEAM school to open in Syracuse in 2025. The $74 Million project aims to prepare students and the region for the growing technology manufacturing industry in anticipation of Micron’s $100 Billion investment. | Read the full story.
Now Available: Presentation and Recording for ‘How to Apply for the Small Supplier Notice of Funding Opportunity’ Webinar
Last month, CHIPS for America hosted the second in a series of webinars related to the Small-Scale Supplier Funding Opportunity, which provided an in-depth view of the Small Supply Chain Concept Plan application process. During this webinar, potential applicants had the opportunity to learn about the different steps of the process, eligibility requirements, application objectives and requirements, and additional information about covered incentives and consortia.
The Most Amazing — and Dangerous — Technology in the World
We rarely think about chips, yet they’ve created the modern world. Semiconductors don’t just power our phones and computers; they also enable our cars, planes and home appliances to function. They are essential, from developing advanced military equipment to training artificial intelligence systems. Chips are the foundation of modern economic prosperity, military strength and geopolitical power. | Listen to Ezra Klein's Podcast here.
Member Annual Reports
2023 Year in Review from the Center for Economic Growth (CEG)
The Center for Economic Growth's 2023 Year in Review is available now! Join CEG in celebrating a remarkable year filled with achievements, milestones, and community impact. | Read it here.
New York State Policy and Programs
2024 State of the State Address Scheduled for Tuesday, January 9th
Governor Kathy Hochul will deliver her State of the State Address on Tuesday, January 9th at 1:00 p.m., in the New York State Assembly Chamber in the State Capitol. The Address will be livestreamed on the Governor’s website.
The 61-Day Legislative Session Started on Tuesday, January 3rd
Both Houses of the Legislature in New York operate on a two-year legislative cycle between elections. The first year of this cycle was 2023, the second year of the cycle is 2024. Please find the 2024 legislative calendar here.
Statewide Minimum Wage Increase Now In Effect
Effective January 1, New York’s minimum wage has increased to $16 per hour in New York City, Long Island, and Westchester County and $15 per hour in the rest of the state. This is part of a multi-year plan to increase New York’s minimum wage through 2027 then index it to inflation.
Minimum wage for home care aides will also increase to $18.55 per hour in New York City, Long Island, and Westchester County and $17.55 per hour in the rest of the state. | Click here for more details.
Phase-in of New York farm worker overtime change begins January 1st
Starting January 1, 2024, the overtime threshold for those employees was lowered from 60 to 56 hours a week. It will then be reduced by four hours a year until 2032, when it will reach 40 hours a week. The initiative has been in the works for some time. Labor officials signed off on the change after a two-year process with a wage board composed of farm workers, advocacy organizations, agriculture producers and labor unions. The state Department of Labor gave final approval back in February. Read more at Spectrum News.
Thank You to Our Economic Development Conference Sponsors
