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 Economic Development News 
Wednesday, December 20 2017
City Officials Tour Progress of New York's First Advanced Cancer Treatment Facility

New York Proton Center will open in 2019 and is anticipated to serve 1,500 patients a year
New York, NY -- New York City Economic Development Corporation (NYCEDC) President and CEO James Patchett, City Council Speaker Melissa Mark-Viverito and Manhattan Borough President Gale Brewer toured the construction progress of the New York Proton Center (NYPC) in East Harlem.

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.

Posted by: AT 02:46 pm   |  Permalink   |  Email
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.
“From his first days in office, President Trump ended the Federal government’s assault on the coal industry and the communities who rely on it,” said Secretary of Commerce Wilbur Ross. “The previous administration fought this war through unilateral executive actions and regulatory edicts, and the casualties were American workers and families.”

Posted by: AT 08:53 am   |  Permalink   |  Email
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.

Posted by: AT 08:44 am   |  Permalink   |  Email
Thursday, April 27 2017

Urban Tech Hub at New Lab part of NYCEDC’s Urbantech NYC initiative
New York, NY -- New York City Economic Development Corporation (NYCEDC) and New Lab launched the Urban Tech Hub at New Lab. The program connects the City of New York with New Lab’s innovative community and local stakeholders to develop and deploy meaningful tech-based solutions to pressing urban challenges.
Part of NYCEDC's Urbantech NYC initiative, the Urban Tech Hub has an inaugural member cohort of fourteen innovative companies developing advanced tech with focuses that include agriculture, alternative energy, transportation, communication, the built environment, and safety. The participating Hub companies will be supported on-site at New Lab through resident membership and bespoke programming.

Posted by: AT 12:24 pm   |  Permalink   |  Email
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.

Posted by: AT 11:16 am   |  Permalink   |  Email
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
Bronx, New York -- New York City Economic Development Corporation (NYCEDC) President Maria Torres-Springer and Krinos Foods Chairman Eric Moscahlaidis participated in a ribbon-cutting ceremony to mark the grand opening of a new 100,000-square-foot international headquarters for Krinos Foods, a New York City based Greek and Mediterranean specialty food importer, distributor and manufacturer. The new Krinos Foods facility, located at 1750 Bathgate Avenue, revitalizes a key section of the Bronx Bathgate Industrial Business Zone that had been underutilized for nearly thirty years. As a result of company growth, Krinos Foods outgrew their longtime Long Island City location and invested $25 million into its new, state-of-the-art Bronx operational facility. Through a successful partnership with the New York City Industrial Development Agency (NYCIDA), NYCEDC was able to assist Krinos Foods in its commitment to retain its international headquarters within New York City.
Founded in Tribeca in 1958, and with facilities in New York, Illinois, and California, Krinos Foods has grown to become one of the world’s largest importers, distributors and manufacturers of Mediterranean specialty foods - with 3000 products that service over 5000 customers across North America. After internal expansion and acquisitions, Krinos responded to an RFP issued by NYCEDC in April 2012 seeking to remain headquartered in New York City. It subsequently purchased the Bathgate site from the City for $3.5 million.

Posted by: AT 09:28 am   |  Permalink   |  Email
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.

Posted by: AT 04:02 pm   |  Permalink   |  Email
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.
"The incredible growth we're seeing shows we can make our economy stronger and more fair at the same time," said Deputy Mayor for Housing and Economic Development Alicia Glen. "We're making strategic investments in fast-growing fields with good-paying jobs and real career pathways for New Yorkers."

Posted by: AT 09:47 am   |  Permalink   |  Email
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."

Posted by: AT 04:33 pm   |  Permalink   |  Email
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:
“These are 300 good manufacturing jobs that mean economic opportunity for men and women in East New York. We are committed to using all our tools to help families earn a good wage and build a better life for their children.”

Statement from NYCEDC President Maria Torres-Springer:
“A big part of our mission at NYCEDC is to create jobs that provide a pathway to the middle class – the exact kinds of jobs supported by the manufacturing sector.  We are committed to making sure that every New Yorker has the opportunity to earn a good salary, and we will continue to work aggressively to ensure quality manufacturing jobs like those at Ultra Flex stay and grow right here in New York City.”

Posted by: AT 09:20 pm   |  Permalink   |  Email
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.

Posted by: AT 10:07 am   |  Permalink   |  Email
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.

Posted by: AT 05:21 pm   |  Permalink   |  Email
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"
New York, NY -- New York City Economic Development Corporation (NYCEDC) announced the launch of Connect IBZ: Broadband Expansion in Industrial Business Zones (Connect IBZ), a $5.3 million public-private partnership that will construct access to high-speed Internet in IBZs in New York City by expanding broadband infrastructure in these currently underserved areas. The program will create high-speed commercial broadband networks in the Southwest Brooklyn, Long Island City, North Brooklyn, and Greenpoint-Williamsburg IBZs, which are among the City’s “digital deserts.” Fast and reliable broadband access has become increasingly critical for businesses of all types in New York City and Connect IBZ will help increase access to broadband connectivity for hundreds of businesses. The networks in the four IBZs will be designed, constructed, maintained and operated by Stealth Communications Services LLC, and Xchange Telecom LLC, two New York City-based Internet Service Providers (ISPs).
"High-speed Internet is critical to the success of businesses in the 21st century economy, and it is imperative that we support Industrial Business Zones with the necessary infrastructure so that they can continue to provide quality jobs for New Yorkers," said NYCEDC Interim President Kim Vaccari. "Connect IBZ provides broadband access to underserved industrial businesses in Brooklyn and Queens, bringing increased opportunities to hundreds of businesses in former Digital Deserts."

Posted by: AT 10:39 am   |  Permalink   |  Email
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.
Nationally, tipped restaurant workers -- more than 70% of which are women -- are twice as likely to use food stamps than the general workforce and three-times as likely to live in poverty. Additionally, the EEOC has targeted the restaurant industry as the single largest source of sexual harassment charges, with a rate five-times higher than any other industry. Read Full Story...

Posted by: AT 02:58 pm   |  Permalink   |  Email
Friday, January 30 2015
Governor Cuomo Annouces 18 More Businesses Choose to Create New Jobs in New York State Under Start-Up NY

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.”

Posted by: AT 10:02 am   |  Permalink   |  Email
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