New York State Economic Development Council (NYSEDC)

Join us in thanking Hodgson Russ LLP, sponsor for the 2025 Economic Development Conference! The event is February 11 - 12 at the Albany Capital Center. https://lnkd.in/gDkG9psk

ECONOMIC DEVELOPING CONTINUES TO TAKE OFF Mohawk Valley EDGE in every corner of Oneida County https://lnkd.in/gtFN8MpC

Thank you New York Power Authority for sponsoring our 2025 Economic Development Conference, next February 11 - 12 in Albany. Learn more about the event here: https://lnkd.in/gDkG9psk

Semiconductor manufacturer GlobalFoundries Inc. will receive up to $1.5 billion in federal funding through the CHIPS and Science Act to upgrade existing plants and build a second factory at its Saratoga County campus, the Biden administration announced Wednesday. The U.S. Department of Commerce earlier this year announced it had signed a preliminary, non-binding agreement with GF related to the award, which was subject to due diligence and further negotiations. https://lnkd.in/gb2hhDZQ

The Cattaraugus County Industrial Development Agency reported that applications have been received for a $9.81 million expansion at Field of Dreams in Allegany, a $2.5 million project to bring a Jamestown Macadam Inc. ready-mix concrete plant to a Homer Hill brownfield and $200,000 to expand production of uniforms and other apparel at Sports Locker on West State Street. Olean Manor Inc., the owner of Field of Dreams, applied for sales tax abatements and a payment in lieu of taxes agreement in August, planning to add 40 additional single-unit cottages on a recently acquired lot adjacent to the main campus on Seventh Street. The work includes $9.81 million in investments. https://lnkd.in/ggvBJ8_B

Governor Hochul Announces $22 Million is Now Available to Strengthen and Modernize New York’s Electric Grid The new?grid modernization program, administered by the New York State Energy Research and Development Authority (NYSERDA), provides funding to municipal utilities, rural cooperatives, or consortiums that apply on their behalf, and small electricity providers that sell no more than 4,000,000 megawatt hours (MWh) of electricity per year for projects that strengthen the capacity of New York State’s grid systems to prepare for future extreme weather events. Proposals must meet all?federal requirements, including at least a one-third cost share, and include direct and quantifiable energy, environmental, and economic benefits to New York State such as emissions reductions, job creation, product manufacturing and sales, energy efficiency, or reduced electric costs for proposed site locations. https://lnkd.in/eFJsWXFC

Congratulations to the NYSEDC Board Chair, Sarah Lee, MPA, MEDP for being honored as a 2024 Moves Power Woman by New York Moves Magazine!

New York is exploring interest in building out nuclear power State officials are seeking information by Dec. 16 from a long list of stakeholders The state of New York is asking atomic energy developers and major power users to share information about their interest in seeing new nuclear projects built across the region. The?announcement?from the NYSERDA New York State Energy Research and Development Authority is the latest example of a state’s officials attempting to track down clean energy to feed growing demand for 24/7 power from big tech firms and consumers alike. https://lnkd.in/gE2iQx8t

Cultivate economic development to combat climate change | Viewpoint New York’s strategic economic development initiatives are generating momentum across several critical objectives, such as addressing climate change, capitalizing on the CHIPS Act, advancing artificial intelligence (AI), attracting advanced manufacturing and revitalizing disadvantaged communities. However, there’s a key element that could disrupt the progress — the lack of adequate electric infrastructure, both transmission and distribution, and its associated resiliency requirements. In business, we rely on efficient market systems, along with sound engineering, to help us define problems, create solutions and capitalize on opportunities. Companies balance supply, demand and delivery to optimize sales of their products and services. Energy policy, on the other hand, tends to be driven by interest groups and politics. This results in laws and regulations that create discord in efficient market systems by artificially separating supply, demand and delivery. Phillips Lytle LLP https://lnkd.in/guipNghF

DARPA looks to tap into local brain-power at Albany NanoTech popup DARPA, the Defense Advanced Research Projects Agency, was at Albany NanoTech Thursday to introduce industry research leaders to various funding opportunities the agency can provide for tech projects through a popup called DARPAConnect David Anderson, president of NY CREATES, stressed the partnership will ideally connect the organization’s large network of resources with future funding opportunities through DARPA. https://lnkd.in/gE2jT2XG