eAdvance

Keeping NYSEDC members in touch and informed
March 18, 2024
Registration Now Open! Join us for the 2024 Spring IDA Academy, April 18, at the Holiday Inn, Binghamton. The Spring 2024 IDA Academy will offer training sessions that include best practices, powers and tools available to IDAs, and public policy that impacts their authority and operation. We will also be offering a tour of the Koffman Southern Tier Incubator and networking meet up hosted by The Agency, Broome County IDA | LDC for local and overnight attendees. The tentative agenda is now available. Please contact Chelsea Palmer for sponsorship opportunities, and questions about registration.
Thank you to our IDA Academy Sponsors
Projects, Communities, + People in the News
The Genesee County Economic Development Center (GCEDC) Board of Directors approved a final resolution for HP Hood's $120 million proposed expansion project at its meeting on Thursday, March 7. The project pledges to create 48 new jobs. | The Batavian has the story here.
Toyota Material Handling North America plans to establish a $2 million research and development facility for advanced energy storage solutions in Henrietta. The lift truck manufacturer will create 40 new jobs. | The Rochester Beacon has the details.
The Suffolk IDA recently supported the Haugland Group and its enterprise, Grace Industries LLC, to relocate and establish its national corporate office in Suffolk County. With the IDA’s assistance, Haugland made a $20 million investment to consolidate operations for the company and its affiliated entities from Nassau and Suffolk Counties into a single, centralized location in Melville. | Read more here.
Champlain Hudson Power Express (CHPE) To Break Ground In Rockland County For New Underground Powerline. The Rockland County Industrial Development Agency (IDA) approved CHPE’s application for a PILOT program in June of 2022. To take advantage of a PILOT, CHPE would have to lease its real property to the IDA, which in turn leases it back to CHPE.| Read more here.
In January, New York's Division of Homes and Community Renewal quietly issued a new rule that tax credits that had been used for decades to finance renovations henceforth can be used only for new construction, not for the preservation of existing homes. | Syracuse.com has more on the policy change.
Syracuse, Buffalo and Rochester, plus more than 100 public and private institutions, applied this week for a $54 million federal grant to further develop Upstate New York into a globally recognized technology corridor, with a strong focus on the semiconductor industry. It is possibly the first time the region's business community has partnered at this size and scale. | Read more on Syracuse.com here.
Hempstead IDA gives final approval to economic development benefits for proposed warehouse near JFK Airport. The IDA gave final approval to the benefits for AIREF JFK IC LCC, an affiliate of the global real estate investor Los Angeles-based Ares Industrial Real Estate Fund LP. AIREF intends to spend $48 million to build a 68,000 s/f warehouse at 175 Roger Ave. and 41 Cerro St. on 3.68 acres. | Read more at NYREJ
The first Great Lakes Cheese Co. employees have settled into the new $700 million state-of-the-art cheese plant in Franklinville. There are about 30 employees in the packaging department and 15 from the Cuba office operations, plus hundreds of tradesmen working to finish the plant. | The Olean Times Herald has the lastest.
New York is one of the largest racing hubs in the United States. A recent economic impact study combines the Thoroughbred and Standardbred industries' effects, concluding that horse racing adds $3 billion to the NYS economy. | Read more about the economic impact study here.
Menlo Micro and Micron represent an opportunity for Ithaca's manufacturing workforce to grow. In July, Menlo Micro announced an over $50 million investment to open a fabrication facility. Ithaca Area Economic Development staff estimate that the 120 projected positions could create $18 million in direct wages and $28 million in direct spending in Tompkins County over the next three years. | The Ithaca Journal has more here.
The Hamburg IDA reports that the Amazon Distribution facility on Bayview Road is exceeding employment requirements and the proposed pay range. According to the IDA, the facility employed 205 full-time equivalent employees as of December 31, 2023, which is 130 jobs more than the target that was originally proposed. | See the story on WKBW Buffalo.
Applications are now being accepted for the sixth annual Grow-NY food and agriculture business competition, where high-growth food and agriculture startups can win up to $1 million. Grow-NY will award a total of $3 million to seven winners. | The Rochester Business Journal has details here.
New York's latest bids for offshore wind projects have bypassed the Port of Albany, leaving a planned expansion there in the doldrums when it comes to the race for jobs and economic development stemming from the growth of alternative energy. But port supporters and local officials say they are confident the facility will be named in future bids for New York's growing offshore wind energy industry. | Read more on the Times Union.
NEW MEMBER
NYSEDC EVENTS
Binghamton
April 18, 2024
NYSEDC Annual Meeting
Otesaga Resort Hotel, Cooperstown
May 22 - 24, 2024
ETEC Center, Albany
June 10 - 13, 2024

Advance Albany County Alliance is seeking a Project Manager, Site Development.

Binghamton University is hiring for multiple positions.

ADDITIONAL
EVENTS AND OPPORTUNITIES

This two-day event, on April 23 - 24 in Herkimer, will showcase opportunities to revitalize and redevelop brownfield sites in the Mohawk Valley. Registration is now open.
ABO Online
Board Member Training

The Authorities Budget Office is conducting webinars for Authority board members. Completion of the session will satisfy the requirement that members complete mandatory State approved training.

Wed, April 10, 2024 -
9:30 AM - 11:00 AM

Wed, April 24, 2024 -
9:30 AM - 11:00 AM
In Memoriam: Steven DiMeo, President Mohawk Valley Edge
It is with heavy hearts that we express our most sincere condolences on the passing of Steven DiMeo, President of Mohawk Valley EDGE, our friend, colleague and the 2016 Developer of the Year winner and recipient of the 2021 Project of the Year for the work he did to attract Wolfspeed to the Mohawk Valley.

Steve was the guiding force behind EDGE, the Marcy Nanocenter, Griffiss Business and Technology Park, and the entire region’s economic trajectory for the past 30 years. He led with a tenacious commitment to the mission, constantly driving those privileged to work alongside him.
 
Our thoughts and condolences go out to Steven's wife, Diane, his family, friends, and colleagues at Mohawk Valley EDGE and during this difficult time. Steve has left a legacy that will impact generations of New Yorkers. We owe thanks to Steve for all that he did to elevate the economic development profession. He served with perseverance, passion and grace and will be missed by all.
The Bigger Picture
Economic Development Reauthorization Act of 2024

The U.S. Senate Committee on Environment Public Works (EPW) just unveiled the bipartisan Economic Development Reauthorization Act of 2024 (S. 3891), legislation that would reauthorize the U.S. Department of Commerce’s Economic Development Administration (EDA) and its programs for the first time in over 20 years. Specifically, the bill amends the Public Works and Economic Development Act of 1965 (PWEDA) (P.L. 89-136).

In partnership with IEDC, we encourage you to request your federal representatives to support S. 3891.
New York State Policy and Programs
2024-25 Assembly and Senate One-House Budget Update
The Senate and Assembly have released their One-House Budget proposals. These are nonbinding documents outlining each House’s position on issues to be included or excluded from the final Enacted New York State Budget.

The attached document outlines actions taken on items of interest related to economic development from the Executive Budget proposal, and potentially new items of interest. It is marked whether the Senate and Assembly have accepted, rejected, modified, or added additional language to the Governor’s original proposal.

The Assembly and Senate adopted their respective One-House Budget proposals last week. The Conference Committee process will begin once both the Senate and Assembly pass their individual One-House Budget proposals. The Senate Majority Leader, Speaker of the Assembly, and Governor will then begin negotiating the final Enacted Budget, which is due by April 1st.
NYSEDC | nysedc.org | 518.426.4058