eAdvance




Keeping NYSEDC members in touch and informed

March 31, 2025

NYSEDC Releases New Report Highlighting Massive

Economic and Community Impact of IDA Investments

The New York State Economic Development Council (NYSEDC) has announced findings from a comprehensive report underscoring the substantial economic and societal contributions of Industrial Development Agency (IDA) investment across the state. IDAs create jobs, attract private investment, build housing, support clean energy projects, and revitalize downtowns.


Analysis of IDA projects shows a dramatic economic impact by creating over 1.2 million jobs, $133.6 billion in earnings and salaries, delivering over $12 billion in new tax revenue and $423.5 billion in annual sales. The benefits are clear: for every $1 of exemptions issued in 2022, IDA projects returned $6.20 in new annual tax revenue, generating significant economic benefits across New York State.

View the Full IDA Report
See the One-Page Summary
See the Press Release

Projects, Communities, + People in the News

Milk-Bone is planning a $50 million expansion in Buffalo. The project will add 17 jobs and modernize the facility for increased production. The company is considering two other out-of-state locations for the line expansion. | Read about the expansion.

IMA Life is planning a $12.5 million expansion before its new Tonawanda facility is complete. The company is also returning to the Erie County Industrial Development Agency, hoping to secure tax incentives for the second phase of the project — and to get additional incentives for the phase that's nearing completion. | Read more at Buffalo Business First.

The Village of Malone will receive $10 million in funding as the North Country winner of the eighth round of the Downtown Revitalization Initiative, and the Hamlet of Keeseville and the Village of Gouverneur will each receive $4.5 million as the North Country winners of the third round of NY Forward. | The Adirondack Almanac has more.

Buckingham Properties, LLC, is seeking just over $1.5 million in incentives to refurbish an aging office building and create the new home in Rochester for Popli Design Group. The County of Monroe IDA is scheduled to discuss and vote on the application during Tuesday’s monthly meeting at City Place. | See more about the project here.

The board of the Albany County BDC authorized a $300,000 low-interest loan to Eckert in support of the purchase and related improvements. Eckert employs nearly two dozen workers from UA Local 7, a union for plumbers and steamfitters, and expects to hire another six tradespeople over the next three years. | The Albany Business Review has the story.

GlobalFoundries says it has already started an upgrade of its Fab 8 computer chip factory at the Luther Forest Technology Campus in the towns of Malta and Stillwater under the terms of its $1.5 billion CHIPS act grant. | Read more at the Times Union.

The St. Lawrence County Industrial Development Agency has taken over the former Kraft plant on Buck Street. The IDA plans to maintain the 100,000-square-foot complex on Buck Street to help attract businesses to the space. | WNYT has more.

Clarkson University announced that it has been awarded a nearly $900,000 three-year grant to train 16- to 24-year-olds to become home energy auditors and weatherization specialists in Northern New York. | See the story on North Country Now.

NYSERDA selected CleanCapital to construct a 12 MW solar project in the Adirondack Park area. It will be located on an underutilized portion of Benson Mines, an iron ore mining site in St. Lawrence County. NYSERDA worked with the Town of Clifton, the Clifton-Fine Central School District and the St. Lawrence County IDA to secure a payment-in-lieu-of-taxes agreement, injecting revenue into local communities. | Read more here.

The need for more housing on Long Island is dire, but state laws, a lack of public education, and trends in population and economics have blocked progress, housing experts said at the Real Estate Institute of Long Island’s spring luncheon. | The Long Island Press has more here.

Oswego County officials are celebrating the award of a new $26 million New York State grant aimed at expanding affordable fiber access to long-underserved rural communities in the northwestern part of the state, just north of Syracuse. | See the story on Community Networks here.

National Grid Partners committed $100 million to invest in AI startups that are advancing the future of energy. The funds will accelerate development of a more efficient, resilient and dynamic grid that supports economic growth, reduces customer costs, helps meet climate goals and ensures energy security. | Read more about the investment.

The village of Catskill will get $10 million in funding as the winners of the eighth round of DRI. The town and village of Greenwich along with the village of Athens will each get $4.5 million as a part of the third round of NY Forward. | Read more at News10 ABC.

UPCOMING NYSEDC EVENTS

2025 NYSEDC Annual Meeting


The Otesaga Resort Hotel, Cooperstown, NY

May 21 - 23, 2025


Registration Now Open and Sponsorship Opportunities Available!


Basic Economic Development Course


ETEC Center at the University of Albany

June 9 - 12, 2025


Registration Open Now!

NYSEDC JOBS BOARD

Cortland County IDA/BDC is hiring an Executive Director

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Orange County Partnership is hiring a Director of Business Attraction & Development

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Genesee County Economic Development Center is hiring a Finance Assistant

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Chautauqua County Partnership for Economic Growth is hiring a Program Manager

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Capitalize Albany Corporation is hiring a Senior Economic Developer

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Mohawk Valley EDGE is hiring a Planner/Engineer -

Advance Albany County Alliance is seeking Paralegal/Compliance Specialist


All Job Postings

Have a job posting, RFP, or news story to share with the NYSEDC?


Email updates to Steph Cavalier.

IPPNY Spring 2025 Clean Energy Conference


Last week, Executive Director Ryan Silva spoke at the IPPNY Clean Energy Conference.


Silva and fellow panelists discussed New York's plans to build data centers and microchip manufacturing plants, as well as the energy solutions required to meet the huge increase in power demand. | See the conference agenda here.

The Bigger Picture

Consumers Energy Costs Are Low from Private Sector Energy Markets, Report Finds


The Affordable Clean Power Alliance (ACPA) released a comprehensive report which provides compelling evidence that competitive wholesale electricity markets in NY have delivered lower costs for consumers, accelerated environmental progress, and improved reliability. | View the report here.


See the press release from ACPA.

Why Tariffs Are Hurting New York's Cannabis Industry


A 20 percent tariff on items imported from China — added to an already existing 25 percent levy on imported agricultural products and supplies used by the legal marijuana industry — is driving up prices for farmers, manufacturers, and retailers just as the cost of legal weed is coming down. | Read more at the New York Times

New York State Policy and Programs

More Than $270 Million in Funding Announced to Build and Preserve More Than 1,800 Affordable Homes Across New York State


Governor Kathy Hochul and Representative Paul Tonko today announced more than $270 million has been awarded through the federal Low-Income Housing Tax Credit and subsidies to create or preserve more than 1,800 affordable, supportive, and sustainable homes in 28 separate developments across New York State. The awarded projects will expand or preserve the housing supply in every region, upgrade and modernize public housing, further local economic development initiatives, and include energy efficient features that advance the State's climate goals. | Learn more here

$5 Million Now Available to Support Innovative Building Solutions in New York


The New York State Energy Research and Development Authority (NYSERDA) today announced $5 million is now available to support innovative building solutions in New York that can be demonstrated in existing single-family, multifamily, and small to medium commercial buildings. Today’s announcement will accelerate the market-readiness of new and emerging clean energy and energy efficiency technologies that can help to manage future energy use, enhance energy efficiency, and lower operating costs in buildings and homes across the state. | Read more here

Special Thanks To Our Annual Meeting Sponsors!

If you are interested in sponsoring this event, visit our event page or email Steph Cavalier.



DIAMOND SPONSORS

PLATINUM SPONSORS

GOLD SPONSORS

Advance Albany County Alliance

Bethlehem IDA

County of Monroe IDA (COMIDA)

Grow America

Herkimer County IDA

McFarland Johnson

Onondaga County IDA

Suffolk County IDA

The Agency (Broome County IDA / LDC)

SILVER SPONSORS

CHA Solutions

Colliers Engineering & Design

Consigli

County of Chautauqua IDA

County of Clinton IDA

CS Arch

C&S Companies

Economic Development Partners, Inc.

Erie County IDA

Farrell Fritz

Harris Beach Murtha

Hurwitz Fine

Invest Buffalo Niagara

LaBella

LeChase

Nassau County IDA

Operation Oswego County

Pursuit

Rensselaer County IDA

Southern Tier Economic Growth

Steuben County IDA

Storrs Associates

Town of Babylon IDA

Utica IDA

BRONZE SPONSORS

Adirondack EDC

Bond, Schoeneck & King

Camoin Associates

Choose Columbia

Genesee County EDC

JSR Capital Group

Naturally Lewis

NYSTEC

OneROC

PATRON SPONSORS

FuzeHub

Greene County EDC

NYSEDC | nysedc.org | 518.426.4058
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