New York

Sectors it is courting

• Cleantech/Clean Energy
• Financial Services
• Healthcare
• Industrial Materials
• Information and Communication Technology
• Media and Entertainment
• Safety and Security
• Equipment and Machinery
• Agribusiness
• Advanced Manufacturing
• Semiconductor

Investment it is seeking from

• Canada
• United Kingdom
• France
• Germany
• India
• Italy
• Japan
• South Korea
• Taiwan
• China
• Australia
• Brazil
• Spain
• Singapore
• Israel

Supply-chain projects it is looking for

Biotechnology, Electric Vehicles (EVs), Large Capacity Batteries, Medical Devices, Semiconductor Manufacturing and Advanced Packaging

Site-selection services it offers

Empire State Development assists companies in locating potential sites for their projects by working statewide via regional offices and local/regional economic development organizations. ESD also assists in making connections to local partners, utilities and workforce development programs. ESD also responds to RFPs and RFIs and proposes locations for potential investments.

Incentive programmes

• Grant

  Empire State Development has performance-based discretionary grants to for capital projects that are offered in exchange for a business's commitment to make a significant investment and create jobs in New York State.

• Tax Credit

  The $3 Billion Excelsior Jobs Program is New York State’s streamlined performance-based incentive program that encourages businesses to expand in or relocate to New York by offering 10 years of fully refundable tax credits in exchange for a commitment to create jobs and make a significant investment in New York State. The program offers enhanced benefits for green projects.

• Loan/Loan Participation

  The JDA Direct Loan Program provides direct loans for the growth of manufacturing and other eligible businesses within New York State by assisting in financing a portion of the cost of acquiring and renovating existing buildings or constructing new buildings ("real estate" projects) or for purchasing machinery and equipment ("M&E" projects). For more information, visit https://esd.ny.gov/job-development-authority-direct-loan-program.

Shovel-ready sites

• The Western New York Science & Technology Advanced Manufacturing Park (STAMP) is a 1,250-acre green manufacturing mega-site developed to deliver hydropower, utilities, and talent from a strategic location in New York State. With $1 billion of announced investments and over 500 buildable acres available, STAMP is the ideal place to develop advanced manufacturing projects.

  Site details

• Micron Technology, the global leader in semiconductor memory technology, announced the largest private-sector investment in New York State history. This $100 billion investment is happening in Onondaga County, which is set to host numerous opportunities for supply chain partners centered around Micron’s megafab campus. The Onondaga County Industrial Development Agency (OCIDA) owns 105-acres directly adjacent to the Micron site, known as the White Pine Science & Technology Park. Suppliers stand to benefit immensely from proximity to Micron’s massive production facility. Utilities, including power, water, and waste water infrastructure, are abundant and capable of supporting numerous developments.

  Site details

• Located in Upstate New York, the Marcy Nanocenter at SUNY Polytechnic Institute is a premier 434-acre greenfield campus developed for semiconductor & advanced technology manufacturing facilities. The Marcy Site has over available 127-acres that can support two to four production facilities, office, and all required supporting buildings, stormwater, effective transportation areas It is also located in a U.S. Foreign Trade Zone and part of the SUNY Polytechnic Utica campus in Marcy, New York

  Site details

Technology-sector sub-sectors sought

AgTech (including FoodTech), CleanTech, eCommerce & Retail Tech, FinTech, HealthTech (including MedTech), ICT (including Software / Cybersecurity / AI)

Programmes for international technology startups

New York Ventures partners with diverse teams that are using technology to solve important challenges in areas of strategic interest and importance and actively looks to provide greater access to capital for regions, industries and individuals, including women and minority entrepreneurs. New York Ventures’ goal is to build a robust startup ecosystem across New York State, leveraging public and private sector assets. New York Ventures is actively deploying over $300 million of capital through equity programs for both direct and indirect investment. In 2022, New York was awarded funds via the U.S. Department of Treasury State Small Business Credit Initiative that helps support these programs. To be eligible, the business has to have a NYS presence. Learn more here: https://esd.ny.gov/venture-capital.

Programmes for international clean-energy projects

The Excelsior Jobs Program encourages businesses to expand in and relocate to New York while maintaining strict accountability standards to guarantee that businesses deliver on job and investment commitments. Firms in the Excelsior Jobs Program may qualify for five fully refundable tax credits. Businesses claim the credits over a benefit period of up to 10 years as established in the preliminary schedule of benefits. To earn credits, firms must first meet and maintain established job and investment thresholds outlined in the Program. To be eligible for enhanced green project tax credits, a company must be eligible for the Excelsior Jobs Program operating in strategic industries inclusive of agriculture, manufacturing, software development, and scientific research and development and engage in a “green project”. A "green project" means a project that makes products or develops technologies that are primarily aimed at reducing greenhouse gas emissions or supporting the use of clean energy. For more information and eligibility requirements, visit https://esd.ny.gov/excelsior-jobs-program.

Incubators and accelerators

• Empire State Development's Division of Science, Technology and Innovation (NYSTAR)

  New York State offers resources designed to enable new and existing businesses to become more competitive through the use of innovative technologies. Empire State Development's Division of Science, Technology and Innovation (NYSTAR) programs and centers emphasize the importance of working with industry as a way to leverage New York State’s technology strengths to produce new products.

• New York State Certified Business Incubators and Innovation Hot Spots

  Through a competitive process, NYSTAR has designated 10 Innovation Hot Spots—one for each of New York's economic development regions—and 20 Certified Business Incubators, which receive funding to reach a greater number of early-stage companies. This network of support has created a culture of innovation and success around the state, thanks to ground-level services that make a dramatic difference in a start-up company’s next steps. Support may vary by location but generally includes physical space, shared administrative staff, access to capital; coaching, mentoring, networking connections, prototype development, and access to other technical services. Innovation Hot Spots also coordinate regional entrepreneurial ecosystems, and can offer tax benefits to client businesses.

• New York Ventures

  New York Ventures partners with diverse teams that are using technology to solve important challenges in areas of strategic interest and importance and actively looks to provide greater access to capital for regions, industries and individuals, including women and minority entrepreneurs. New York Ventures’ goal is to build a robust startup ecosystem across New York State, leveraging public and private sector assets. New York Ventures is actively deploying over $300 million of capital through equity programs for both direct and indirect investment. In 2022, New York was awarded funds via the U.S. Department of Treasury State Small Business Credit Initiative that helps support these programs. To be eligible, the business has to have a NYS presence. Learn more here: https://esd.ny.gov/venture-capital.

University and workforce programmes

• Centers of Excellence

  NYSTAR funds 13 Centers of Excellence to foster collaboration between the academic research community and the business sector to develop and commercialize new products and technologies, to promote critical private sector investment in emerging high-technology fields in New York State, and to create and expand technology-related businesses and employment. This program was created to enhance and accelerate the centers’ operations, facilitating joint university-industry research and development, product commercialization and workforce training.

• Centers of Advanced Technology (CATs)

  NYSTAR funds 15 Centers for Advanced Technology (CATs) to encourage greater collaboration between private industry and universities in the development and application of new technologies. The CAT program, created in 1983, facilitates a continuing program of basic and applied research, development and technology transfer in multiple technological areas, in collaboration with and through the support of private industry. CATs play a critical role in spurring technology-based applied research and economic development in the state; promoting national and international research collaboration and innovation; and leveraging New York's research expertise and funding with investments from the federal government, foundations, businesses, venture capital firms and other entities. NYSTAR periodically identifies technology fields of strategic importance to New York's economic competitiveness and holds competitions to award 10-year CAT designations to New York universities, university-affiliated research institutes, or consortia of such institutions.

Investor account, as submitted

Edwards Vacuum, a British-based global leader in vacuum and abatement equipment for the semiconductor industry, part of the Atlas Copco Group, chose the Western New York Science & Technology Advanced Manufacturing Park in Genesee County as the location for its new U.S. dry pump manufacturing facility. The technology produced at the new facility is a vital component to controlling the highly sensitive environment of semiconductor manufacturing processes. Edwards Vacuum's decision to invest in New York State followed passage of the federal CHIPS and Science Act, New York’s Green CHIPS legislation, and the domestic semiconductor industry growth the complementary programs have spurred, including Micron's unprecedented $100 billion commitment to Central New York, which is expected to create nearly 50,000 jobs. Edwards' Semiconductor business President Kate Wilson, said, "I am delighted that we are announcing this new facility in the state of New York. Against a backdrop of growing demand, clearly showing a greater need for investment in manufacturing capabilities that are located close to our customers, we continue to commit significant investment in our operational footprint. This is critical to ensure we retain our position as the vacuum and abatement partner of choice to the global semiconductor industry."

Submitted by the economic development organisation, not independently verified.

Regional partner organisations

• New York State Economic Development Council (NYSEDC)info@nysedc.org(518) 426-4058

Who to contact

• Carin RisingSenior Director, International PartnershipsCarin.Rising@esd.ny.gov3477140650
• Steve GoldVP, Industry Developmentsteven.gold@esd.ny.gov

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