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June 18, 2021 Newsletter

Legislative Update

Last Thursday, the NYS Legislature wrapped up the 2021-2022 legislative session. The NYSEDC worked collaboratively throughout the year with members of the legislature, state agencies, and our membership on various pieces of legislation, programs, and policies that will impact economic development efforts throughout the year. We have also held a series of webinars throughout the first half of the year highlighting several of those programs and initiatives introduced during this session. Key areas of focus included:

The $800 M Small Business Recovery Program

Round Eleven of the Regional Economic Development Councils

Clean Energy Policy Related to Wind and Solar Projects

Several IDA related bills that passed both the Assembly and the Senate 

 

Click here to view all NYSEDC webinars highlighting economic recovery programs. We will continue to monitor legislation throughout the summer and fall, updating our members regularly on the status of programs or if the legislature comes back to Albany and reconvenes later this year. If you have any questions or would like additional information, please do not hesitate to reach out to me at any time. silva@nysedc.org thank you for your continued support and leadership.


COVID-19 Updates

Governor Cuomo announces COVID-19 restrictions have been lifted. Learn more here.


Members in the News

With help from Empire State Development, the Cooperstown Distillery has expanded their warehouse, expanding production and hiring an additional seven full-time employees.

Buffalo Billion support is fueling renovation of historic East Side buildings and the creation of microbreweries and other neighborhood businesses.

Hofstra University has broken ground on the college’s new, $75 million Science and Innovation Center.

The Nassau County IDA has been honored with a 2021 Smart Growth Award for regional leadership.

Two potential projects with 416,000 square feet of warehouse space are asking for assistance from the Erie County IDA.

The Ithaca Area Economic Development has released the Tompkins County Economic Recovery Strategy, providing short-term actions employed by stakeholder agencies to address the immediate impacts of COVID-19 and a roadmap to guide planning and recovery.

Five small businesses in Lewis County have received grants from their Microenterprise Program.

With help from Empire State Development and the Wayne County IDA, Pearl Technologies is adding up to 20 jobs at its operations in the Town of Savannah.


People and Communities in the News

PharmaCann is planning a major expansion of its medical marijuana production site in Hamptonburgh to prepare for big business ahead with recreational pot use now legalized in New York adding 45 or more jobs to the operation.

The town of Lancaster is seeing a strong pattern of development growth.

The New York State Fair is opening this year at a 100% capacity. 

Governor Cuomo announced over $5 million has been awarded to four colleges and universities to achieve deep energy savings and help combat climate change.

Resorts World Hudson Valley, a video lottery gaming casino planned for the Newburgh Mall, is expected to break ground this summer and could open by early 2022.

DCG Development is preparing to nearly double the amount of warehouse and light manufacturing space in the Tech Valley Flex Park in Clifton Park.

Federal funding could turn tech and infrastructure plans for Western New York into reality, creating thousands of jobs and increasing the quality of life for residents.

A developer is proposing to construct a $23 million apartment building near the Long Island Rail Road station in Westbury as part of a larger effort to boost the downtown area.



National and International News

Jeffrey A. Finkle, president and CEO of the International Economic Development Council (IEDC), has announced his plans to retire in early-2022.

The Rockefeller Institute has released a study of the U.S. Electricity Net Generation and Carbon Dioxide Emissions, 1990-2018.

Site Selectors Guild has released the top 5 current trends in corporate location decisions.

The U.S. economy is sending mixed signals as the post-pandemic economic recovery continues to confound experts. 

U.S. business leaders are beginning to develop a roadmap for redesigning their global supply chains with the aim of making them more resilient, environmentally sustainable, and agile.

The percentage of Americans reporting negative economic impact on their household has come down from a year ago, but more than a quarter say full U.S. economic recovery will take more than two years.

Fueled by a surge in demand for imports, mostly from East Asia, the growing U.S. trade deficit is hitting record highs.
 

NYSERDA Updates

NYSERDA and Blueprint Power, a New York City-based technology company, announced a $3 million award for a first-of-its-kind demonstration project showcasing energy management technology that could not only enable buildings to provide grid flexibility, but also help expand electric vehicle (EV) capacity in New York City. 
 

NYSEDC Webinars

Miss our recent webinars on the $80 million small business recovery grant, funding for water infrastructure projects, or the NYSERDA consladated funding application? View recordings of our webinars in the NYSEDC Video Library