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July 30, 2021 Newsletter

Member News

Clinton Community College and Clarkson University are partnering to combine their advanced manufacturing programs.

The Nassau County IDA will begin taking applications on Sept. 1 for a sales-tax exemption on the purchase of equipment to cut emissions into the air, water and soil.

$200 million is available for the fifth round of the Downtown Revitalization Initiative. DRI Round 5 will provide funds to communities across the 10 Regional Economic Development Council.

A recent Tioga County IDA agricultural study finds that by making use of land suited to pasture and forage production, it would be possible to feed more people with food produced in New York State.

The Fulton County Center for Regional Growth is seeing an increase in business interest in the county it hasn’t witnessed in years.

Stony Brook University has received an Empire State Development grant that will address the growing need for entrepreneurial talent in New York’s life science ecosystem.

After nearly a decade of service, Tracy Metzger is retiring from the Capitalize Albany Board of Directors.

Dutchess County will receive more than $2.2 million for the Community Development Block Grant and HOME Investment partnership programs.

The Hornell IDA has won a $3.4 million federal grant to help support train manufacturer Alstom expand its operations in Hornell.

Ithaca Area ED has approved a $50,000 convertible debt investment to Dimensional Energy a company that extracts carbon dioxide from the atmosphere and converts it to commercial products. The company will create 57 new jobs over the next four years.

People and Projects in the News

GlobalFoundries plans to build a second semiconductor fabrication plant at its Fab 8 campus, an expansion that will lead to the creation of another 1,000 jobs and double its manufacturing capacity.

The Hudson Valley has made TIME magazine's ranking of the 100 World's Greatest Places of 2021.

The Westchester County Biosciences Accelerator finished its second cohort, made up of 12 participants for a six-month period to develop business plans for diagnostic and therapeutic tools, medical devices and digital health resources.

Construction has begun on a $2 million resiliency project in Orleans County, as part of the Governor's Lake Ontario Resiliency and Economic Development Initiative.

Onondaga County legislators are considering a $20 million allocation of federal stimulus money to prepare commercial sites for business development.

Netflix will open a new production studio in Brooklyn in September.

A new $100 million tax credit to encourage and support the reopening of Broadway was launched.

A state-of-the-art supermarket is getting closer to opening its doors in the Hudson Valley, creating 200 jobs.

The Northside Village, the first phase of the Yates Village public housing redevelopment, has opened in Schenectady.

National and International News

The US EDA has announced their plans for their portion of American Rescue Plan Act funding through 6 programs.

Connecticut recently made headlines announcing that four New York companies were either relocating or opening new offices in Connecticut, lured in part by incentives that will save three of those businesses millions of dollars after they create a certain number of jobs.

The International Monetary Fund warned this week that the gap between rich and poor countries was widening amid the pandemic, with low vaccination rates in emerging economies leading to a lopsided global recovery.

America’s weak population growth is dropping closer to zero because of the Covid-19 pandemic.


$4 million has been awarded to 23 projects under the first round of the Community Heat Pump Systems Pilot program to advance community thermal networks that harness geothermal and waste energy to heat and cool buildings.

Governor Andrew M. Cuomo announced the launch of the Inclusive Community Solar Adder program that makes $52.5 million available for community solar projects that support underserved New Yorkers and disadvantaged communities. Projects funded through the program are expected to serve up to 50,000 low-to-moderate income households, affordable housing providers, and facilities serving disadvantaged communities, which will receive energy bill savings from the clean, renewable energy generated by community solar.