The new owner of a 73,000-square-foot building in a Latham office park envisions it hosting a consortium of vendors involved in the semiconductor industry, according to public records. The property buyer and subsidiary Catemer Inc. recently requested tax incentives from the Albany County Industrial Development Agency, which is scheduled to take up the application on Wednesday. | The Albany Business Review has more here.
Congratulations to Heather D. McDaniel for her new role as Chief Economic Development Officer at the Center for Economic Growth! NYSEDC Executive Director Ryan Silva noted that "Heather McDaniel is a talented and accomplished economic development professional. Her skillset, experience, and passion for the work will bring tremendous value to the Center for Economic Growth as they work to accelerate economic opportunity across the region." | See the release.
Micron Technology has reimbursed the Onondaga County Industrial Development Agency about $15 million in expenses associated with Micron’s planned chipmaking project in the town of Clay. | Read about it on Syracuse.com.
The $13 million transformation of a nearly 100-year-old downtown Syracuse office building into apartments is getting help from Onondaga County in the form of a $325,000 grant. | Learn more on Syracuse.com here.
The former Massena School of Business will soon be an entryway to a planned riverwalk but first the facade must be preserved as the remaining structure is removed. The village of Massena, in conjunction with the St. Lawrence County Industrial Development Agency, are working on the project that is viewed as a focal point of the Downtown Revitalization Initiative. | Read about the project on North Country Now.
Onondaga County is seeking approval from the county legislature for $27 million to support supply chain activities related to Micron. The funds are intended to prepare sites for businesses that Micron partners with globally, aiming to attract some of these companies to the area. | CNY Central has the story here.
Construction has begun on Coventry Commons, a $59 million project creating 101 affordable apartments in the historic former Reed Manufacturing Company’s factory and office space in Wayne County’s village of Newark. In the past five years, New York State Homes & Community Renewal has created or preserved nearly 400 affordable homes in Wayne County. | Learn more at Democrat & Chronicle.
Leslie Woodward has had a busy first year in Buffalo. After moving her plant-based dairy company, Edenesque, to Buffalo early in 2024, she’s raising funds and growing her sales channels. Edenesque is on track to hit its $1 million gross revenue goal for 2025, and Woodward hopes to reach $5 million next year. The company got a $175,000 investment from Launch NY and $100,000 from UB Cultivator, the University at Buffalo’s accelerator program, in 2024. | Read about the company on BuffaloInno.
AgriAmerica Fruit Products LLC's expansion and revitalization project at its 69,000-square-foot grape juice processing plant in Fredonia is complete. The project has already created five new full-time jobs, along with numerous seasonal positions, and is expected to support 469 full-time equivalent jobs over the next four years in agriculture and related industries. | Erie News Now has the story.
Prompted by the recent arrival of drugmaker Regeneron, Saratoga County economic development officials are exploring the possibility of enhancing the power supply to the W.J. Grande Industrial Park in Saratoga Springs. | Learn more at the Albany Business Review.
Empire State Development (ESD) says Advanced Glass Industries and Glass Fab will combine to form EvolvOptic. The new company says it will invest more than $ 5 million to expand its Rochester operations, creating up to 40 new jobs. ESD, Monroe County, the City of Rochester and Greater Rochester Enterprise are helping the company’s expansion, according to ESD. | Read the story on Spectrum News 1.
Westchester County Executive Ken Jenkins used his first State of the County address Wednesday to announce a new partnership with Rensselaer Polytechnic Institute. Jenkins says he’s heard from business owners for years that they need more employees in STEM. Through the partnership, the Troy campus will offer accredited undergraduate and graduate programs to working professionals in Westchester County, with a focus on engineering, science, and business. | WAMC has more here.
The Center for Economic Growth (CEG) is seeing a consultant or team to develop an implementation plan for the Capital Region ON_RAMP. Proposals are due by Friday, May 23rd. See the RFP here and additional details here.
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The City of Albany IDA and Capital Resource Corporation are seeking proposals for a full suite of legal services for a one-year contract. Proposals are due by May 15. See the RFP here.
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As of 2024, more than $530 million across multiple agencies have been used for statewide workforce development initiatives. These investments show a strategic shift, prioritizing workforce development as an essential part of economic development and working to align training programs with the needs of high-growth industries.
In 2024, 18 statewide programs launched or expanded, supporting a range of talent programs that help unemployed and underemployed talent.
New York State Legislature Passes 2025 - 2026 Fiscal Budget
Yesterday, the New York State Legislature passed the 2025-2026 Fiscal Budget, which was signed by Governor Hochul this morning. While we are over a month past the initial deadline of April 1st, there are several items in the budget this year we actively supported alongside our association partners in Albany, which we are pleased to see included. There were also several policy items we voiced concerns on which ultimately were not included in the final budget agreement.
On the program side, there were several initiatives the NYSEDC actively supported that will provide much-needed tools to attract new investment, build out infrastructure, revitalize downtowns, create/retain jobs, and develop much-needed housing and energy supply.
