Economic Development News
Wednesday, December 20 2017
New York Proton Center will open in 2019 and is anticipated to serve 1,500 patients a year
NYPC, the first proton beam therapy facility in New York State, will provide advanced cancer treatment using targeted radiation and beam therapy that is especially effective on pediatric, head and neck, and eye cancers among others, and is expected to treat 1,500 patients a year. Today there are 25 proton centers in the United States and the nearest facility for New Yorkers is in Somerset, New Jersey. NYPC is operated by a consortium of three New York healthcare institutions—Memorial Sloan Kettering Cancer Center, Montefiore Health System, Mount Sinai Health System and ProHEALTH Proton Management, LLC.
Thursday, October 12 2017
Washington, D.C. — U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding $30 million to support 35 projects in 15 states under the 2017 Assistance to Coal Communities (ACC 2017) initiative. The funding will assist locally-driven efforts to communities and regions severely impacted by the declining use of coal through activities and programs that support economic diversification, job creation, capital investment, workforce development and re-employment opportunities.
Tuesday, September 19 2017
Survey Peeks into the Minds of the C-Suite on Corporate Relocation and Expansion
New York, NY -- New survey of U.S. business executives concludes corporate decision makers are more likely to consider expansion in the United States than overseas options under the Trump administration. Released at the International Economic Development Council (IEDC) Annual Conference in Toronto, the study shows 33 percent of the corporate executives were more likely to explore domestic expansion under President Donald Trump vs. 10 percent that would explore international expansion. A majority of executives surveyed, 57 percent, reported the Trump presidency has not impacted their investment plans.
Conducted by Development Counsellors International (DCI) every three years, the “Winning Strategies in Economic Development Marketing: A View from Corporate America” survey has tracked trends in economic development since its inception in 1996. For the first time, the survey also includes findings about how the current political climate affects business perceptions.
Thursday, April 27 2017
Urban Tech Hub at New Lab part of NYCEDC’s Urbantech NYC initiative
Thursday, February 02 2017
New York, NY — Development Counsellors International (DCI) announced the winners of the economic development industry’s 40 Under 40 awards at the International Economic Development Council Leadership Summit in Jacksonville, Florida, last night. The award was designed to discover the profession’s rising stars.
“The individuals chosen by the selection committee represent an incredibly bright future for the economic development profession,” said Andy Levine, president of DCI. “It’s an honor to celebrate their achievements.”
The youngest winner is 26 with the pool consisting of 14 women and 26 men.
The South and the Midwest dominated with 10 award recipients each, with the most recipients located in Florida. Large communities of 200,000 or more came away with the majority of award recipients, with 26 winners. The smallest community has a population of 2,800.
Monday, June 20 2016
Through a partnership with NYCIDA, the move allows Krinos Foods to remain in NYC and create more jobs for New Yorkers
Friday, April 15 2016
Nearly 4.3 Million Total Jobs in New York City Labor Force Participation Also Reaches All-Time High
New York, NY -- The City of New York announced that based on an analysis of seasonally adjusted job numbers for March 2016 provided by the New York State Department of Labor, New York City added 2,800 jobs in February, reaching an all-time high total of just below 4.3 million jobs across all five boroughs. Labor force participation also reached an all-time high of 61.5 percent. Since Mayor de Blasio took office in January of 2014, New York City has added 254,900 private sector jobs, an increase of 7.3 percent during this time of record job creation.
Since Mayor de Blasio took office, the strongest employment gains are in Health Care & Social Assistance, with growth of 48,000 jobs, and Professional, Scientific, & Technical Services, with growth of over 38,200 jobs.
Monday, March 07 2016
Total Number of Jobs Reaches All-Time High; Job Growth Since Mayor de Blasio Took Office is Largest Two Year Jump in New York City History
New York City, NY -- The City of New York announced that based on an analysis of seasonally adjusted job numbers for January 2016 provided by the New York State Department of Labor, New York City has reached a record 4.29 million total jobs. Additionally, the data confirm that the average number of jobs added since Mayor de Blasio took office in January 2014 through December 2015 was 249,000, the largest two year job gain in New York City History. The City added 35,400 private sector jobs in January 2016, with largest growth demonstrated in the Educational Services field. The City’s unemployment rate is down nearly three percentage points since Mayor de Blasio took office.
Governor Cuomo Announces CommutAir Expansion at Albany International Airport Will Create 100 New Jobs
Friday, January 22 2016
Contract Expansion With United Airlines Adds 40 Jets to Fleet
Albany, NY -- Governor Andrew M. Cuomo announced that CommutAir will expand their fleet and operations at Albany International Airport with an additional 40 regional jets and more than 100 new jobs. The announcement, made possible by an expansion of CommutAir's contract with United Airlines, comes less than a year after the company opened a new $4.2 million Regional Economic Development Council grant-funded maintenance facility.
"Albany International Airport is already critical to transportation and commerce in Upstate New York and CommutAir's expansion further strengthens it through new jobs and improved passenger experience," Governor Cuomo said. "This is yet another example of how smart transportation investments are essential to growing the Upstate economy and helping New York stay competitive."
Statements from Mayor de Blasio, NYCEDC President Torres-Springer, Borough President Adams and Council Member Espinal on Agreement to Keep Ultra Flex's 300 Employees in East New York, Brooklyn
Wednesday, January 20 2016
New York, NY -- New York City Economic Development Corporation (NYCEDC) announced an agreement with Transcontinental Inc., which will allow Ultra Flex, a flexible plastic packaging manufacturer in Brooklyn recently acquired by Transcontinental, to keep its 260 employees in its home of more than 40 years. The deal will also allow Ultra Flex to add an additional 50 employees to its East New York factory. Brokered through the New York City Industrial Development Agency, the deal prevents Ultra Flex from moving its factory to Missouri.
Statement from Mayor Bill de Blasio:
Statement from NYCEDC President Maria Torres-Springer:
Tuesday, October 13 2015
Massachusetts-based 1366 Technologies to locate at the Science & Technology Advanced Manufacturing Park (STAMP) in Genesee County
Rochester, NY -- The Genesee County Economic Development Center (GCEDC), Greater Rochester Enterprise (GRE), Governor Andrew Cuomo and Empire State Development (ESD) and Buffalo Niagara Enterprise (BNE) joined forces to make a landmark announcement about a significant investment that has the potential to transform the Greater Rochester Region and Western New York.
Massachusetts-based solar wafer manufacturer 1366 Technologies has chosen to establish operations at the Science & Technology Advanced Manufacturing Park (STAMP) in the Genesee County town of Alabama, N.Y. The company’s multi-phase project will eventually create 1,000 new jobs at STAMP. This is the largest business attraction project GCEDC and GRE have ever managed and secured.
1366 Technologies will build a 3GW wafer facility with a methodical phased approach, starting with a 250MW facility. Over the course of the multi-phase project, 1366 will invest approximately $700 million, including a $100 million initial investment, becoming the largest economic development project in the history of Genesee County.
Thursday, August 27 2015
Rochester, NY -- Empire Precision Plastics has added laser marking to its range of capabilities in order to better meet customer needs for precision molded parts and assemblies. The company can now offer in-line serialization of polymer firearm components during the manufacturing process.
Today many firearms manufacturers are turning to polymer components in order to reduce weight, drive down costs and improve the aesthetics and feel of their products. The current method of over molding pre-serialized plates requires that each component be entered into an ATF Log, even if it is found to be discrepant. This method requires a great deal of additional handling and introduces a higher risk of a serialized component not being entered into the tracking log.
With in-line laser engraving, components can be inspected and approved prior to applying the serialization number. When used with ATF approved software, accepted, in-line serialized components are instantly entered into the electronic tracking log. This eliminates manual entries, which saves time and prevents clerical errors which can be quite costly during an ATF audit. This technology also helps manufacturers avoid the added engineering and retooling costs of serializing through redesign.
Thursday, July 02 2015
New Broadband Networks Will Improve Access to High-Speed Internet in IBZs in Brooklyn and Queens, Helping to Facilitate Connections for Hundreds of Businesses in Underserved "Digital Deserts"
Tuesday, February 24 2015
Cuomo calls for a $2.50 increase to the tipped minimum wage and review of two-tiered wage system, affecting a predominantly female workforce
New York, NY -- In an important step toward wage equality for the vast majority of New York State’s 400,000 tipped employees -- a predominantly female workforce -- Governor Cuomo will announce a $2.50 increase to the tipped minimum wage, raising it from $5.00 an hour, which it has been frozen at since 2011, to $7.50 an hour.
Governor Cuomo Annouces 18 More Businesses Choose to Create New Jobs in New York State Under Start-Up NY
Friday, January 30 2015
73 Businesses Have Committed to Create More Than 2,400 New Jobs since Joining START-UP NY
New York -- Governor Andrew M. Cuomo today announced that 18 more businesses will expand or locate in New York State as a result of START-UP NY. These 18 companies are projected to invest more than $12 million and have committed to create at least 295 new jobs over the next five years in tax-free areas sponsored by the University at Buffalo, SUNY Canton, SUNY Downstate Medical Center, Schenectady County Community College, SUNY College of Environmental Science and Forestry, Plattsburgh State University and Stony Brook University.
“Today is another example of how START-UP NY is providing a critical boost to local economies across the State,” Governor Cuomo said. “By offering new companies the opportunity to operate tax-free alongside our first-class universities and talented workforce, this program is attracting significant private sector investments and creating hundreds of new jobs for New Yorkers. I am proud to welcome these latest companies under the START-UP NY banner, and I look forward to seeing them grow and thrive in the Empire State well into the future.”