Tag: ny

Tale of Two Mayors

In Auburn, NY, the hot political issue is economic development. Both candidates emphasized job creation with a youthful population base. Lattimore pushed for large-scale manufacturing plants and renewable energy projects to the Auburn area.

NBC Sports Moving to Connecticut

The network will create 450 new jobs in Stamford.

New York Corporate Moves

GLOBALFOUNDRIES Building $4.2-Billion Microchip Plant in Malta, NY

Luther Forest Technology Campus Economic Development Corporation (LFTC) and GLOBALFOUNDRIES held their official groundbreaking last month in Malta, NY for the construction of a $4.2-billion microchip fabrication plant, called Fab 2, marking the beginning of construction of what is planned as the most advanced chip fabrication plant in the world. The project, located in Saratoga County, NY, is expected to create 1,400 high-tech jobs in the region. LFTC is actively seeking additional tenants for the remaining nine development areas. In addition to almost a decade of planning, by economic development entities and state and local government leaders, public-private partnerships have contributed to the success of LFTC. The state of New York has contributed up to $1.2 billion in incentives toward the GLOBALFOUNDRIES project. “The groundbreaking is proof that GLOBALFOUNDRIES is officially a part of Luther Forest Technology Campus and will bring positive benefits to Saratoga County,” said Michael Relyea, president of Luther Forest Technology Campus. “As one of the largest economic development projects in the country, it is monumental in moving the region toward a brighter economic future. This investment in the global economy shows Luther Forest Technology Campus as a model for the nation.” The GLOBALFOUNDRIES project is slated to employee around 1,600 construction workers over the next two to three years plus an additional 2,700 workers for local construction-related jobs. In addition, the fab will create more than 1,400 high-tech jobs with an estimated annual payroll of $88 million once production begins, as well as around 5,000 indirect jobs in the region. The total estimated annual payroll for all jobs is $290 million. “Luther Forest Technology Campus offers an outstanding business environment while Saratoga County and the Capital Region offer an outstanding high quality of living including stellar public education, at the base of the Adirondacks,” said Dennis Brobston, president of Saratoga Economic Development Corporation. The build out of the campus is expected to lead to future growth for Tech Valley, as additional companies move to the area. LFTC is shovel-ready, featuring flexible lot sizes of up to one million square feet for the remaining development areas. The campus has access of up to 15 million gallons per day of fresh water, redundant power with 99-percent reliability, sewer lines and telecommunications. Because the soil composition absorbs vibration, the land is ideal for high-tech construction. Centrally located between New York City, Boston and Montreal, LFTC is close to an international airport, a rail system and a major port. The newly constructed Round Lake Bypass gives direct access to LFTC from the highway, 1.5 miles away. The campus is ideal for high-tech sectors and is pre-permitted for nanotechnology manufacturing as well as support businesses, research and development, community uses and an executive conference center with lodging. 60 percent of the campus is dedicated green space, including 619 acres designated as wooded areas and 109 for preserved park areas. GLOBALFOUNDRIES production is currently centered at a state-of-the-art 300mm manufacturing campus-known as Fab 1-in Dresden, Germany. Consistently ranked as one of the top fabs in the industry, Fab 1 has a proven track record of ramping leading-edge technologies at high-volume and mature yields, most recently evidenced on a seamless ramp of 45nm process technology.

National Grid Awards Grant to Genesee Park

National Grid has awarded the real estate affiliate of the Genesee County Economic Development Center (GCEDC) $100,000 to be used for infrastructure at the Genesee Valley Agri-Business Park. The grant was awarded through National Grid's Shovel Ready Infrastructure program and will help extend electric service into the park which is owned by a public/private partnership that includes the GCEDC and Farm Credit of Western New York. The park is located between State routes 5 and 63 in Batavia, NY and sits in close proximity to OAKTA Milk Products, a regional balancing plant. When completed, the site will contain nearly 200 shovel ready acres that will be serviced by industrial-class electric, gas and rail. The park also has access to 6 million gallons of aquifer water daily, ideal for food production applications. The GCEDC and Farm Credit have an agreement in place that will give the GCEDC 51 percent ownership of the new entity, called the Genesee Valley Agri-Business Park LLC. Phase 1 construction, which will include $6 million worth of infrastructure improvements, will begin early in 2009 with construction of the roadway. $3 million in funding is being provided by the state.

New York, Much Bigger than the Big Apple

From the hustle and bustle of New York City to the rich and diverse regions that span the state, New York is an attractive location for new and emerging businesses.

A New York State of Mind

The Empire State still has "the economy that never sleeps", a powerful global hub of commerce, finance, culture and entertainment.

Prime Location: Kodak Develops a Megasite in Upstate New York

Eastman Business Park offers existing facilities, onsite power and water supplies, and 300 acres of undeveloped property for sale or lease.

New York: High-Tech Growth

Tapping into fast-growing technology and energy sectors, Gov. David Paterson's economic development initiatives are helping to strengthen the state's manufacturing base while attracting new relocations and expansions.

Editors’ Location Picks 2008

These gems didn't just catch our eye with a quick flash. Their consistent economic development sparkle earned them front-and-center display in our annual showcase.

Food Processing Sites: Providing Sustenance as Well as Nutrition

As food prices soar, sustainability becomes more than just an environmental buzzword—it's the key factor in choosing a new location with access to raw materials and a customer base.

New York Corporate Moves

Niagara Falls Powers Growth of Green Jobs

In May, Empire State Development (ESD) and the New York Power Authority (NYPA) announced an economic development package for Globe Specialty Metals in Niagara County, bringing 500 new "green collar" jobs to the area. The package includes a major allocation of low-cost hydropower from the Niagara Power Project that will serve as the linchpin for the reopening and expansion of Globe's manufacturing facilities in Niagara Falls. "This is another demonstration of our resolve to revitalize economic development in Upstate New York," says New York Governor David Paterson. "This project signifies how powerfully competitive New York State can be in attracting businesses when we pool our resources-in this case, low-cost hydropower through NYPA and an Empire Zone incentive through Empire State Development." Alan Kestenbaum, chairman and CEO of Globe, says, "This project will be a cornerstone for New York to realize its goal of making the state a major center for production and research for renewable energy and, in particular, solar energy products." Twenty-five percent of Globe's upgraded silicon production from its new Niagara Falls facility will be used to attract new solar panel manufacturers to New York state, thus spurring the development of the "green collar" industry in Western New York. Globe will reopen the existing Highland Avenue silicon production facility in Niagara Falls and invest in upgrading the equipment to produce approximately 30,000 tons of metallurgical grade silicon annually. In addition, it will build a new 100,000-square-foot facility in Niagara Falls to annually convert its metallurgical grade silicon into 4,000 tons of solar grade silicon, enough to produce 500 megawatts of solar power. ESD and NYPA created an incentive package that provides Globe with 40 megawatts of hydropower over five years and up to $25 million in Empire Zone benefits for up to 10 years. The company will provide a capital investment of $60 million.

Medical Center Expands, Quickens Rochester's Pulse

Earlier this year, the University of Rochester Medical Center announced a strategic plan that calls for a $500 million investment over the next five to 10 years. The plan proposes the construction of a Clinical and Translational Science Building to house research and training programs, in addition to a $259-million expansion of Strong Memorial Hospital, a 52,000-square-foot, off-campus ambulatory surgery center. The economic impact of the plan will include 771 new jobs at the medical center, 1,000 permanent jobs in the community, and an average of 1,400 construction jobs per year associated with various projects through 2015. The plan's medical focus includes investment in the research of stem cell and regenerative medicine, biomedical imaging, and genomics, among others. Research funding for the medical center is estimated to increase by $50 million over current levels as a result of these new investments.

Gourmet Guru Stays True to Its NY Roots

In May, the New York City Industrial Development Agency (NYCIDA) approved an array of financial assistance options for Bronx-based Gourmet Guru, an organic and specialty foods provider. The company plans to invest $4.9 million by renovating a 27,000-square-foot facility in the Hunts Point section of the Bronx. This growth will create 26 new jobs. According to the NYCIDA, Gourmet Guru received approval for city and state mortgage recording tax benefits worth $123,481, as well as city and state sales tax exemptions totaling $54,438 for the acquisition, renovation, and equipping of its Bronx site. A City Land Tax Abatement of $144,505 and a City Building Tax Stabilization valued at $1,761,854 were also approved. "Supporting local businesses by helping them to expand is crucial to maintaining New York City's role as a small business center," says Seth W. Pinsky, chairman of the NYCIDA. Gourmet Guru has been operating in the Bronx for the last ten years. The company began with a 1,000-square-foot facility in Hunts Point and, with IDA assistance, will be able to expand while remaining in the same neighborhood. Gourmet Guru investigated sites in New Jersey and, while costs would be lower there, ties to the Hunts Point community far outweighed potential savings. Hunts Point is the world's largest food distribution center, boasting more than 800 industrial businesses and 25,000 workers.

Company Continues 96-year Commitment to Olean

In June, the Dresser-Rand Company received a $2 million grant from Empire State Development to construct a new technology center, set to open in 2009, in Olean, NY. The funds will allow the company to retain its existing technology-related employees in Olean while creating 120 new jobs. Dresser-Rand plans to invest $14.7 million in capital to build the new facility, and the company can apply for up to $8 million in tax credits over a multi-year period due to its Empire Zone location. The company has been manufacturing in Olean since 1912, but currently has facilities spread across an expansive campus. The new technology center will allow the company to consolidate its staff in research and development, product engineering, and project management into a state-of-the-art work environment where the company's engineering development can be closer together and more productive. "As one of the largest private sector employers in the Southern Tier and Western New York with more than 2,300 employees, Dresser-Rand's decision to retain and expand its operations in Olean was critical," says Governor David Paterson. "With ESD support, we are helping ensure that Dresser-Rand is able to compete in the world marketplace and keep jobs here in Upstate New York. It is imperative that New York State be at the forefront of international business development if we are to realize our goals for revitalizing the Upstate economy." A supplier of turbines and rotating equipment, Dresser-Rand has New York manufacturing operations in Olean, Wellsville, and Painted Post. Prior to receiving grants from ESD, the company had considered moving its technology staff and much of its office personnel to its headquarters in Houston, TX, where most of its management staff is based. But the company has received strong support from state and local elected officials throughout the years, as well as previous assistance from ESD. Most recently, Dresser-Rand accepted a $1 million grant for the retention of 448 employees at its Wellsville plant. The company also has international facilities in France, Germany, India, and Norway.

Diversity: A New York State of Mind

From medical centers to ethanol plants and agribusiness to high technology, New York offers a fertile empire where various industries grow alongside each other.

Metro Spotlight: Long Island, NY

Greetings from Long Island, NY

W hile Long Island, NY generally refers to Nassau County and Suffolk County, it also geographically includes the two New York City boroughs of Brooklyn and Queens. Long Island is home to several well-known vacation spots of the rich and famous, such as the Hamptons, Jones Beach, and Fire Island, as well as several Atlantic Ocean beaches. Although tourism makes up a substantial part of Long Island’s economy in certain regions, the area supports a wide-ranging economy.
     Long Island has a diversified economy that currently supports more than 1.2 million jobs. The services sectors—including educational and health, leisure and hospitably, and professional firms—account for more than 40% of non-farm employment.      Some of the corporations that have taken up residence on Long Island include: Computer Associates Arrow Electronics Henry Schein Pall Corporation OSI Pharmaceuticals 1-800-Flowers FESTO Corp. Forest Laboratories Canon EDO Corp. Estee Lauder

Beverage Company Giant Invests in Long Island

AriZona Beverage Company, one of the largest beverage companies in the United States, announced in late 2007 that it will invest $35 million to build a new facility for its corporate headquarters in Woodbury (Nassau County), NY. The company will retain 235 jobs at its two existing facilities in Nassau and Kings counties, and intends to add 50 new jobs over the next five years. After negotiations with Empire State Development (New York State’s primary economic development agency) and Nassau County, AriZona Beverage decided to build a new state-of-the-art facility in Woodbury. Empire State Development and AriZona Beverage have agreed to a series of project milestones that will enable the company to apply for a $250,000 capital grant to offset construction costs. Under the agreement, AriZona Beverage will receive the full amount upon reaching project targets set by Empire State Development. The company has also reached an agreement with the Nassau County Industrial Development Agency for up to $3.79 million in state and local tax abatements. “The state and county were extremely collaborative and proactive in working with us to address all of our site location needs throughout the course of this two-year project,” says John Posillico, chief technical officer for AriZona Beverage Company. “They were our partners from start to finish and were instrumental in helping our new home become a reality.”

Long Island Workforce Data

Labor force: 1,485,800 Households: 916,686 Total Personal Income: $115.6 billion Per capita income: $41,558 Long Island has the 17th largest metropolitan area economy in the nation. More than 120,000 businesses in both Nassau and Suffolk counties generate $134 billion in economic activity annually. Long Island is home to the East Coast’s largest industrial park, the Hauppauge Industrial Park. The park has over 1,300 companies, and employs over 55,000 Long Islanders.

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Surveys & Research

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