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Governor Hochul Announces Nearly $90 Million Awarded Across The State Through Fast Ny Program To Development Shovel-Ready Sites

Second Round of Awards Will Create Jobs and Help Attract and Expand Key New York State Growth Industries

Governor Kathy Hochul today announced that nearly $90 million has been awarded for six locations under the Focused Attraction of Shovel-Ready Tracts New York grant program. First announced in February 2022, the program is designed to prepare and develop sites across the state to jumpstart New York’s shovel-readiness and increase its attractiveness to large employers and high-tech manufacturing companies. The program, administered by Empire State Development, will help diversify New York State’s economy while propelling new investments for businesses, communities, and job creation.

“Through the FAST NY grant program, New York is continuing its commitment to investing in and expanding economic growth and opportunity across the state,” Governor Hochul said. “This funding will prepare shovel-ready sites that key industries like semiconductors and renewable energy are looking for and will create good jobs and grow local economies for generations to come.”

Empire State Development President, CEO and Commissioner Hope Knight said, "New York State is taking proactive steps to ensure that we are at the top of the list when companies are starting the site selection process and Fast NY allows municipalities and IDAs to have the support they need to develop sites around specific industries such as advanced manufacturing, semiconductors, renewable energy, life science and agribusiness. Through programs like FAST NY we are ensuring New York State remains a top destination for relocation and expansion."

Governor Hochul previously announced $40 million in FAST NY awards to the first seven Awardees this summer. With today’s announcement, nearly $130 million has been awarded to thirteen locations across the state. Current awardees are:

FAST NY funding through ESD awards grants for pre-development activities and infrastructure investments to develop sites that will attract many eligible industries —including high-tech manufacturing, semiconductors, clean-tech renewable energy, life sciences, agribusiness, optics, transportation equipment, materials processing, industrial machinery manufacturing and other advanced manufacturing. These sites can also be used for interstate distribution and logistics. Through FAST NY, ESD can award a “FAST NY Shovel-Ready Certification” for sites that meet high standards of shovel readiness, to support and enhance their marketing efforts to attract more industries. For more information, or to apply for a FAST NY grant, visit esd.ny.gov/fast-ny.

New York State Economic Development Council Executive Director Ryan M Silva said, “Investing in sites to attract the careers and industries of the future is critical to the success of New York’s economy. Investments in infrastructure create good paying construction jobs and further helps facilitate public private partnerships. Today’s awards once again validate the vital role industrial development agencies play in New York’s economy, pairing local expertise and resources with state funding to support and build sustainable communities. We thank Governor Hochul and the team at ESD for their leadership and partnership with the FAST NY Program and the awardees for investing in New York’s future.”

Assemblymember Harry Bronson said, “Today’s announcement by Governor Hochul puts New York in a very competitive position as we secure private and public investment for our economic development. As Chair of the Assembly’s Committee on Economic Development, I strongly support FAST-NY and know it is an important first step ensuring a good foundation for job growth. FAST-NY, in combination with our federal designation as a Tech Hub, will allow us to attract the advance manufacturing companies vital for our region’s future economic expansion.”