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12/17/2022 Newsletter

Members in the News

CenterState CEO, Empire State Development and the Research Foundation for the State University of New York are among 60 finalists in the “Build Back Better Regional Challenge” to develop and strengthen regional industry clusters across the country. 

The City of Peekskill IDA, the Peekskill Facilities Development Corp. and the Westchester County Office of Economic Development are working together to revamp the Centennial Hose Municipal Fire Station into a state-of-the-art culinary incubator.

NYPA has approved 34 ReCharge NY power allocations to 29 customers in support of more than 22,600 jobs across the state — including 560 newly created jobs — that will also spur more than $629 million in private capital investments.

After years of work by Commerce Chenango and the Development Chenango Corporation (DCC), the Southern Tier Regional Economic Development Council (STREDC) awarded the City of Norwich a $10 million Downtown Revitalization Initiative (DRI) grant.

Allegany County is working with a Rochester team to revive the former Siemens AG/Dresser-Rand plant in Wellsville.

The Brookings Institution has released a report on how Buffalo’s East Side Avenues is training citizen developers to revitalize commercial corridors.

People and Communities in the News

The Environmental Facilities Corporation has approved $115m in funding for water projects around New York State. 

Delta-X Global Corp. has committed to establishing its US research and manufacturing headquarters in the City of Rochester, creating up to 102 jobs.

Governor Kathy Hochul announced the Port Authority of New York and New Jersey will build a 2.4 million square foot state-of-the-art new international terminal on the south side of JFK Airport, creating over 10,000 jobs. 

Plati Niagara has broken ground on a roughly $20 million hotel in downtown Niagara Falls.

Construction has started on Monarch Commons in Onondaga County—a highly energy-efficient building that will provide 50 affordable apartments for older adults and veterans experiencing homelessness.

Saratoga County has surpassed $100 million in private-sector investments for the second year in a row.

Governor Hochul has announced Little Falls as the second $10 Million Mohawk Valley winner of Fifth-Round Downtown Revitalization Initiative. 

KORE is expanding its operations in the Finger Lakes to a larger location in the Town of Pittsford, creating 52 new jobs.

A record $57 million was generated by Hudson Valley film and TV industry in 2021. 

COVID-19 Update

The NYSDOH has released a FAQ page on the new mask mandate and vaccination policy. 

National and International News

The consumer price index soared 6.8% last month from a year earlier — the biggest 12-month jump since 1982.

The number of Americans filing new claims for unemployment benefits dropped to a 52-year low, suggesting economic activity was accelerating as a year ravaged by shortages, high inflation and an unrelenting pandemic draws to a close.

In contrast to Europe and Japan, U.S. GDP exceeded its pre-COVID level in the third quarter of 2021 and may reach its pre-crisis trend in the fourth quarter

Vice President Kamala Harris announced seven new commitments as part of the Call to Action for businesses and social enterprises to make new, significant commitments to sustainably address the root causes of migration by promoting economic opportunity. 

NYSERDA Updates 

NYSERDA has announced nearly $1.3 million is available to support the collection of data through acoustic and oceanographic surveys in the New York Bight Wind Energy Areas to facilitate the responsible development of offshore wind by improving marine environmental understanding, reducing environmental risks, and helping to inform planning for future development.