Empire State Development
“New York State is strategically investing in innovative, targeted high-growth industries that are benefiting from our top-tier workforce, unrivaled resources and commitment to sustainable energy. We are incentivizing the companies of tomorrow to build and grow here, creating jobs and opportunity for New Yorkers.”
— Hope Knight, President, CEO, and Commissioner,
Empire State Development
TARGETED GROWTH SECTORS
In New York State, the future is already here — fueled by the talent and resources that are leading smart, dynamic, and innovative businesses to start here, move here, and thrive here. New York has the resources and expertise to partner with a variety of industries, including agribusiness, biotech and life sciences, cleantech and renewable energy, craft beverage, digital game development, distribution, financial services and insurance, homeland and cybersecurity, industrial machinery and systems, materials processing, optics, photonics and imaging, software and digital media, tech and electronics, television and film, tourism, and transportation equipment.
TOP PROJECTS
COMPANY | LOCATION | INVESTMENT |
Micron | Clay | $100 billion |
Fairlife | Webster | $650 million |
Cummins | Lakewood | $452 million |
Li-Cycle | Rochester | $359 million |
Edwards Vacuum | Genesee County | $319 million |
FEATURED LOCATIONS
Greater Rochester, NY is one of the most productive regions in the country, ranking third in college degrees per capita and #1 for degrees in STEM fields, according to the U.S. Department of Education. Our workforce outperforms regions three times our size. Companies have capitalized on the proximity to major markets, highly educated workforce, research centers of excellence, and industry expertise.
Saratoga Economic Development Corporation (SEDC) is a private sector, non-profit consulting firm established in 1978. With more than 45 years of economic development success, we are the primary resource and first-point of contact for any business or individual considering an investment in Saratoga County, New York.
Think Dutchess Alliance for Business is the one-stop shop for business development needs in Dutchess County, New York. By bringing together 10 agencies under one strategy, Think Dutchess has become a critical community resource, supporting attraction, retention, and expansion efforts for businesses and entrepreneurs across for-profit and non-profit sectors.
FAST FACTS
Population (July 1, 2022 estimate): 19,677,151¹
Largest Cities (2020): New York City (8772,978); Buffalo (277,908); Rochester (210,943); Yonkers (210,970); Syracuse (147,033)¹
Real GDP (2022): $1.6 trillion²
¹U.S. Census Bureau
²Bureau of Economic Analysis, U.S. Dept. of Commerce
JOBS & SITE DEVELOPMENT PROGRAMS
NYS Green CHIPS Program: Up to $10 billion in economic incentives for environmentally friendly “green CHIPS” semiconductor manufacturing and supply chain projects.
FAST NY Shovel-Ready Grant Program: Up to $200 million to develop sites to jumpstart New York’s shovel-readiness and attractiveness to large employers.
Green Excelsior Program: $3 billion refundable tax credit program for creating jobs and investing in projects involving the development of technologies or the production of products that reduce greenhouse gas emissions or support the use of clean energy.
TOP BUSINESS FACILITIES RANKINGS
#1 FDI (Projects) | 2023 State Rankings |
#2 EV Charging Infrastructure | 2023 State Rankings |
#3 Cybersecurity | 2023 State Rankings |
Top 5 Life Sciences | 2023 State Rankings |
Top 5 Semiconductors | 2023 State Rankings |
Top 10 Food Processing | 2023 State Rankings |
#1 Corporate Headquarters: New York/Jersey City/White Plains | 2023 Metro Rankings |
#1 Fintech Leaders: New York | 2023 Metro Rankings |
#1 Financial Centers (Global): New York | 2023 Global Rankings |
Top 5 Smart Cities: New York City | 2023 Global Rankings |
LATEST NEWS
New York State Returns To ‘Cutting Edge’ Of Manufacturing, Innovation
Governor Kathy Hochul is committed to continuing to improve New York’s economy through revitalizing business districts and new workforce initiatives.
BF Editors’ Blog: 2024 Solar Eclipse Economic Impact & Where To Watch
From the economic impact to opportunities to travel with family and friends to maximize the experience, anticipation is going strong across North America.