October 15, 2021 Newsletter

Members in the News

With assistance from the Seneca County IDA, NextEra Energy Resources is investing $66 million in the area, retaining 104 employees and creating 51 new permanent jobs and more than 250 construction jobs.

With assistance from the Erie County IDA, construction is set to begin on Uniland Development Co.’s new warehouse in Lackawanna.

State agencies, cities, towns, and Indian Tribal governments can now apply for federal funding through the $1.16 billion Building Resilient Infrastructure and Communities and Flood Mitigation Assistance grant programs.

With help from the Cattaraugus IDA, Mike John Painting Contractor Inc., is starting one of the biggest brownfield cleanups in the city of Olean to make way for a new paint shop and administrative offices.

Governor Hochul has announced plans for a new elevated pedestrian pathway that will connect Penn Station and Moynihan Train Hall to Chelsea's High Line and the Javits Center.

The Adirondack Economic Development Corporation is working with new state programs to expand its services through regional partnerships.

Empire State Development has launched a new NY tourism campaign.
 

People and Projects in the News

Schenectady-based DSD Renewables has acquired a community solar project at an old industrial warehouse in Brooklyn that was renovated into an indoor soccer facility. The project will provide clean, affordable energy to NYC residents.

The New York State Department of State announced the completion of the Pathfinder Towpath Trail in the City of Fulton as part of the Local Waterfront Revitalization Program (LWRP).

The Hudson Valley real estate market shows no signs of slowing down.

Governor Kathy Hochul announced PreAct Technologies as the winner of Round 4 of the Luminate NY optics, photonics, and imaging startup accelerator competition.

NextEra Energy Resources is proposing in the towns of Brasher, Norfolk and Massena to develop, build, own and operate a facility that will produce 180 megawatts of power starting in 2023.

GreenLight’s new Rochester manufacturing facility has an installed capacity at 500 kilogram per year, with ready expansion to 1,000 kg, creating 30 jobs.

International and National News

Goldman Sachs (GS) is becoming increasingly pessimistic about the US economy as coronavirus support from the government phases out and consumer spending remains on an uncertain path.

U.S. inflation accelerated slightly in September, as pandemic-related shortages of labor and materials continued to push up prices.

The outlook for the global economy darkened as a stream of data from Europe and Asia suggested growth faltered in the third quarter, hobbled by world-wide supply-chain snarls, sharply accelerating inflation and the impact of the highly contagious Delta variant.
 

NYSERDA Updates

The largest, single offshore wind supply chain contract has been awarded in New York State to support the State's Sunrise Wind offshore wind project.

NYSERDA has announced nearly $11 million in awards to support projects that promote the development of a high performing smart electric grid that integrates a diverse supply of renewable energy resources, enhances overall grid performance and resiliency, and enables customers to reduce their energy costs, consumption, and environmental impacts. 

NY Green Bank, a division NYSERDA, announced it is seeking to make investments in clean energy lenders serving disadvantaged communities.

Governor Kathy Hochul has allocated $59 million for the new Clean Green Schools initiative, which aims to advance clean energy and energy efficiency solutions that will improve indoor air quality and reduce emissions for more than 500 public and private Pre-K-12 schools in disadvantaged communities across the state