Empire State Development

Empire State Development (ESD) is New York’s chief economic development agency. The mission of Empire State Development is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, Empire State Development strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State.

Excelsior Jobs Program

One of the signature programs of ESD is the Excelsior Jobs Program (Excelsior).  Excelsior offers tax credits to strategic businesses such as high tech, bio-tech, clean-tech and manufacturing that create jobs or make significant capital investments.

Eligibility

The following strategic businesses located in or planning to locate in NYS that will create jobs or retain jobs and make significant capital investments.

• Scientific Research and Development firms creating at least 10 net new jobs.
• Software Development firms creating at least 10 net new jobs
• Agriculture firms creating at least 10 new jobs
• Manufacturing firms creating at least 25 net new jobs
• Financial services customer service back office operations creating at least 100 net new jobs
• Back office firms creating at least 150 net new jobs
• Distribution firms creating at least 150 net new jobs
• Other firms creating at least 300 net new jobs and investing at least $6 million

Firms in strategic industries that make significant capital investment that have at least 50 employees are also eligible to apply for participation in the Program.

Eligible project types:

• Job creation
• Job retention and significant capital investment

For more information on the Excelsior Jobs Program and other Empire State Development Program contact:

Empire State Development
Capital Region Office
433 River Street, Suite 1003
Troy, New York 12180
Office: (518) 270-1130
Fax:  (518) 270-1141

 

Office of Community Renewal

The Office of Community Renewal administers the Community Development Block Grant (CDBG) program for the State of New York. The NYS CDBG program provides financial assistance to eligible cities, towns, and villages with populations under 50,000 and counties with an area population under 200,000, in order to develop viable communities by providing decent, affordable housing, and suitable living environments, as well as expanding economic opportunities, principally for persons of low and moderate income.

Under the New York State CDBG Economic Development Program there are two categories of funding activities:

1. Economic Development
2. Small Business

Economic Development and Small Business activities provide funds to local governments to support economic development projects that involve the creation or retention of permanent jobs, at least 51% of which must benefit LMI persons.

Economic Development:  Funding is typically provided to eligible communities for traditional economic development activities such as business attraction, expansion, and retention projects to provide financial assistance to businesses for an identified CDBG eligible activity which will result in the creation or retention of permanent, private sector job opportunities principally for persons of low-and moderate-income families. 

Small Business Assistance:  Provides resources to eligible communities to foster small business development as a vehicle for sustainable economic development and growth while providing job opportunities for person from LMI families.  For the purpose of this program, a small business is defined as a commercial enterprise that is independently owned, operated, and controlled and has fewer full-time equivalent employees at the time of application. 

For more information on the Office of Community Renewal Programs contact:

New York State Office of Homes and Community Renewal
Hampton Plaza
38-40 State Street, 4th Floor
Albany, NY 12207 
Phone: (518) 474-2057
Fax: (518) 474-5247