$90 Million Awarded Across The State Through Fast Ny Program To Development Shovel-Ready Sites
Report Update Released: Economic impacts of Industrial Development Agencies (IDAs) in New York State
Projects, Communities, + People in the News
General Motors, as part of its new contract with the United Auto Workers, has agreed to invest $300 million in the Tonawanda facility for electric vehicle production, a major vote of confidence in the plant at a time when electric vehicles are widely seen as the future of travel. On top of that commitment, GM also confirmed more than $200 million in additional investments that it had previously announced and had already started at its components plant in Lockport and at a facility in Rochester. | The Buffalo News has more about this investment.
The Buffalo News editorial board has outlined the important watchdog role Erie County and Amherst IDAs are playing when it comes to developers. Both IDAs are doing the jobs Western New York taxpayers depend on them to do -- helping maintain local businesses and making sure those businesses live up to their promises.| See the full thoughts of the Buffalo News editorial board.
The James Newbury Hotel and Wire Event Center in downtown Coxsackie was welcomed into New York State’s economic-and tourism fold. The $11 million redevelopment project transforms two former factory buildings into a 47-room boutique hotel and a 15,000-square-foot event space with a waterfront bar and multiple community rooms. | Read more on Hudson Valley 360.
Six businesses recently completed the Wyoming County Business Accelerator Academy program, an intensive customized small business training program offered by the Wyoming County Business Center. The business owners developed new business strategies and action plans to promote their growth and profitability. | The Daily News Online has more about the program here.
TTM Technologies, Inc., a leading global manufacturer of technology solutions, intends to invest up to $130 million to build a greenfield high-tech manufacturing facility in the Town of DeWitt, Onondaga County, creating an estimated 400 good-paying jobs. TTM will produce ultra-high density interconnect PCBs, TTM’s most advanced PCBs that will be primarily used for U.S. military applications and crucial to the U.S. semiconductor industry, at its new facility, which will be co-located on 24 acres adjacent to TTM’s existing production facility in DeWitt. | Read more on Urban CNY.
Site work is now in full-swing on the NYS Thruway at Exit 21 East Commercial Park, which will increase access to commercial services and hotel accommodations while creating jobs, increasing tax base, and enhancing sales tax revenues – not to mention improving the aesthetic and safety of the area around the interchange. | Read more about the project here.
Herkimer County, in collaboration with the Herkimer County Industrial Development Agency (HCIDA), was awarded $300,000 in grant funding through New York State Office of Homes and Community Renewal’s for the Community Development Block Grant Economic Development program. The funding will assist the Herkimer County Micro Enterprise Grant Program, which seeks to fill a void in helping small existing companies or start-up companies provide new job opportunities.| The Daily Sentinel has the latest here.
A $3 million Mechatronics lab at Dutchess Community College Center of Excellence for Industry and Innovation had its grant opening last month. The facility was largely funded by grants from SUNY, Empire State Development, Dutchess County, and the American Rescue Plan Act. The purpose of the lab is to prepare students for high-tech manufacturing jobs.| Learn more about the facility on WAMC.
New York City Economic Development Corporation (NYCEDC) and Cornell Tech on Tuesday announced the launch of Pilot: New York City to advance New York City as a global hub for urban innovation. The new initiative aims to streamline processes, collaborate with the private sector, nonprofits and academia, and tap into the creativity of New Yorkers, to enable the city to become one of the world’s most important places to pilot and scale urban innovation.| See the details on Connect CRE.
The Port of Albany is in the middle of another transformation, hoping to reclaim a role as an engine of economic renewal for the wider region. The cause for excitement was its selection two-and-a-half years ago as the nation’s first site for manufacturing the soaring steel towers that are the spines of offshore wind turbines. A subsequent contract calls for the port to churn out as many as 100 state of the art wind towers a year. | The Financial Times has the story here.
A two-way transmission line capable of carrying hydroelectricity from Quebec into New England and eventually offshore wind and solar power from New England to Quebec has received federal backing. The transmission line, being developed by National Grid and Citizens Energy, was one of three transmission project receiving a total of $1.3 billion under a new federal program funded by the Bipartisan Infrastructure Law.| Read more at CommonWealth Beacon.
Based in Rochester, NY, Constellation Brands is a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. The company's CFO, Garth Hankinson, sat down with Business Facilities to share why the global beverage company chose to remain in Rochester for its new HQ, moving to downtown.| Read the full interview on Business Facilities.
New data published by Empire State Development from 2022 indicates that in Broome and Chenango counties, tourism has officially bounded back from the COVID-19 pandemic. In 2022, tourism in the Central New York region generated $1.2 billion in direct labor income for local economies.| WBNG has the story here.
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Albany Capital Center,
Registration and room block at the Renaissance Albany opens in November
Change May Come to H-1B Visa Program, Which Opens Doors for Tech Workers
The federal administration is proposing big changes to the H-1B program -- that the program that allows employers to sponsor highly skilled immigrants who have bachelor's or advanced degrees for work visas. So, people who work in tech or as research scientists, professors or doctors.
One issue is that there are a lot more people who want H-1Bs and companies who want to hire them than there are visas to go around. And some companies have been gaming the system.
There aren’t many legal ways to come to the U.S. to work. But H-1B visas are a big one. Changes to the program have been a long time in coming, said Muzaffar Chishti at the nonpartisan Migration Policy Institute.
“What it doesn’t address is that these are extremely small numbers for the 21st century global economy,” said Jeremy Neufeld at the nonprofit Institute for Progress. But increasing the number of H-1Bs is not something the administration could do on its own. That would be up to Congress.
Nearly $90 Million Awarded Across the State Through Fast NY Program to Develop Shovel-Ready Sites
Nearly $90 million has been awarded for six locations under the Focused Attraction of Shovel-Ready Tracts New York grant program. First announced in February 2022, the program is designed to prepare and develop sites across the state to jumpstart New York’s shovel-readiness and increase its attractiveness to large employers and high-tech manufacturing companies. The program, administered by Empire State Development, will help diversify New York State’s economy while propelling new investments for businesses, communities, and job creation.
About the project, NYSEDC Executive Director Ryan Silva said, "Investing in sites to attract the careers and industries of the future is critical to the success of New York’s economy. Investments in infrastructure create good paying construction jobs and further helps facilitate public private partnerships. Today’s awards once again validate the vital role industrial development agencies play in New York’s economy, pairing local expertise and resources with state funding to support and build sustainable communities.”
Fourth Round of Office of Strategic Workforce Development Grant Awards Announced, Totaling More Than $12 Million
The New York State Office of Strategic Workforce Development has awarded more than $12 million in grants to fifteen projects across the state through the fourth round of the Workforce Development Capital and Pay for Performance Grant Programs. These grants will support the training of more than 2,000 workers through collaboration between training providers and more than 100 employer partners in fields like construction, building maintenance, industrial manufacturing, renewable energy and software engineering.