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May 7, 2021 Newsletter

National News

Governor Cuomo, Governor Murphy and Governor Lamont announce significant easing Of COVID-19 Pandemic restrictions on businesses, gatherings and venues.

The United States economy grew 1.6% in first quarter of 2021 (vs 1.1% in fourth quarter of 2020) or 6.4% on annualized basis.

Economic Development Administration hit a milestone in CARES Act fund distribution, giving out more than a billion dollars in grant money.

Member News

NYSERDA signed a lease option agreement to repurpose parts of the former Benson Mines in St. Lawrence County into one of the largest solar projects in Adirondack Park. The project will be designed with community input and create 100 construction jobs.

National Grid approved more than $1.3 million in economic development grants to support 8 western New York projects, growing the regional economy through support of brownfield remediation, restoration of longtime vacant buildings, & facility upgrades.

The Brookhaven IDA was named the Suffolk County IDA of the Year, closing 8 projects in 2020 with $352m invested and 3,042 jobs created or retained.

With help from Empire State Development, the city of Oneonta has broken ground on a new affordable housing development.

Development by the Herkimer IDA, Fountainhead and Pepsi will break ground in May on new facilities in the Schuyler Business Park.

With help from Empire State Development, Nanotronics opened a high-tech manufacturing center at Brooklyn Navy Yard.

The Auburn Industrial Development Authority has launched a new brand and website.

The Cattaraugus IDA has approved an additional 30 businesses to be recipients of a $10.5 million grant, providing low interest loans in the wake of the economic recovery from COVID19.

With help from the Erie County IDA, construction is nearly done on TMP Technologies' Lackawanna plant, creating 100 jobs.


People and Projects in the News

GlobalFoundries is moving its corporate headquarters to Saratoga County.

Fuel cell maker Plug Power is leasing an additional 51,000 square feet of office space one mile from its headquarters and factory in Latham.

The City of Poughkeepsie is creating a housing assessment study to better understand how its housing needs may evolve in the coming years, and how that may impact residents' needs and city services.

Two solar projects have been proposed in the town of Dunkirk.

Saab has won a $31.7M Navy contract for air traffic radars made in Central New York.

Gov. Andrew Cuomo announced the reopening of the Historic Palace Theatre following a $3.5 million renovation that received $600,000 through Lockport's Downtown Revitalization Initiative award.

NYC's first soccer stadium will be built in Queens.

Several projects in Central New York have received funding to create affordable housing developments.

Regeneron is investing $480 million in a planned expansion at its campus in Greenburgh, New York including a preclinical manufacturing facility.

Across the North Country, consumer spending appears to have returned to pre-pandemic levels and even surpassed it in some places according to tax data from the NYS Comptroller's Office.