STATUS - Government of New York
Transcript of STATUS - Government of New York
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 1
STATUS REPORT: 2ND QUARTER FISCAL YEAR 2019-2020
As required by Section 30A(g) of the Urban Development Corporation Act 174/68, this report contains the status of economic development programs administered by the Urban Development Corporation, doing business as the Empire State Development (“ESD”). Funding for the projects listed herein was approved by ESD during the 2nd Quarter of Fiscal Year 2019-2020 (July 1 through September 30). During this period, ESD approved 75 awards to 71 companies or organizations for 73 projects* totaling $86,386,907 in State funding commitments. These projects will retain 2,109 jobs, create 528 jobs and leverage $701,419,419 in private or other public sector investment for a total public-private investment of $787,806,326.
Contents
Introductory Information: ▪ Economic Development Programs: Appropriation Categories Section 1: ▪ Cumulative Summary of Commitments and Disbursements by Appropriation ▪ Cumulative Summary of Commitments by Appropriation: Project List ▪ Cumulative Summary of Disbursements by Appropriation: Project List Section 2: ▪ Geographic Distribution of Approved Projects ▪ Geographic Distribution of Approved Projects: Project List Section 3: ▪ Job Creation and Retention ▪ Job Creation and Retention: Project List Section 4: ▪ Impact of Approved Projects on Distressed Urban and Rural Communities,
Small- and Medium-sized Businesses and Strategic Industries ▪ Distressed Urban and Rural Communities: Project List ▪ Small- and Medium-sized Businesses: Project List ▪ Strategic Industries: Project List Appendix ▪ Benefit Cost Evaluations ▪ New York State Map: Location and Amount of Commitments
* Projects may be funded by more than one award
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 2
ECONOMIC DEVELOPMENT PROGRAMS: APPROPRIATION CATEGORIES
Projects in the report are funded from the appropriation (and reappropriation) categories listed below, including the Fiscal Year(s) (“FY”) of appropriations.
▪ Buffalo Regional Innovation Cluster – an appropriation to support economic development programs in the
City of Buffalo and surrounding areas.
▪ Community Development Financial Institution Program – an appropriation that provides micro-loans to businesses that do not qualify for bank loans as well as one-on-one counseling and business development assistance to facilitate credit-readiness.
▪ Downstate Revitalization Fund – a $35 million appropriation enacted in FY 2008-09 to promote economic development by facilitating the creation and retention of jobs or other economic activity in downstate New York.
▪ Downtown Revitalization Initiative - In its third year, the program will invest $100 million into 10 additional downtown neighborhoods across the state. Participating communities are nominated by the state’s ten Regional Economic Development Councils (REDCs) based on the downtown’s potential for transformation, and each community is awarded $10 million to develop a downtown strategic investment plan and implement key catalytic projects that advance the community’s vision for revitalization.
▪ Economic Development Purposes Fund – an appropriation that made $62.36 million of funding available for
business investment, job creation, promotion of tourism, domestic and international trade missions, and economic growth investment initiatives.
▪ Economic Development Initiatives Program – $2 million of this annual appropriation is used to provide
assistance to companies and not-for-profit organizations to increase the export of New York’s products and services to foreign markets. Grants are made to help New York State’s private sector identify and develop export markets and increase their sales, thereby creating and retaining jobs. In addition, this appropriation is used for various marketing and tourism initiatives.
▪ Economic Transformation Program – a $50 million appropriation created as part of the 2011-12 FY budget to assist communities affected by closures of the state’s correctional and juvenile justice facilities. A $32 million appropriation was added in the 2014-15 budget.
▪ Empire State Economic Development Fund – created in 1996, and generally funded annually, this
appropriation provides assistance for projects that promote the economic health of New York State by facilitating the creation or retention of jobs or the increase of business activity.
▪ Entrepreneurial Assistance Program – two annual appropriations that establish and maintain Entrepreneurial Assistance Program Centers in local communities to provide instruction, training, technical assistance, and support services to individuals who have recently started their own business or are interested in starting a business
▪ Federal Department of Defense Office of Economic Adjustment - Up to $700,000 was made available in the
2017-2018 FY budget through the United States Department of Defense Office of Economic Adjustment to fund projects that assist established and early stage defense industry companies with diversification and strengthen the resilience of the New York State defense companies to fluctuations in defense spending.
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 3
ECONOMIC DEVELOPMENT PROGRAMS: APPROPRIATION CATEGORIES CONTINUED
▪ High Technology Innovation and Economic Development Infrastructure Program – The FY 2018-2019 budget includes $300 million, and the FY 2019-2020 budget includes $325 million for initiatives that foster research and development of innovative technologies and leverage private investment in advanced science and technology, economic development initiatives, infrastructure, manufacturing, and other economic. development initiatives that leverage private investment in regional projects that create or retain jobs.
▪ JOBS Now Program – this appropriation, created in 1998, promotes the state’s economic health and the increase of economic activity by encouraging the expansion of current businesses and attraction of new businesses, primarily targeting companies that create at least 300 new permanent, full-time private sector jobs, with 25% of funds allowed for the creation of 100-299 jobs.
▪ Metropolitan Economic Revitalization Fund – a $25 million fund created in 1996 to revive economically distressed neighborhoods in the Port District of New York by offering capital loans that will result in retention or creation of a significant number of private-sector jobs.
▪ Market NY Program – an appropriation awarded through the Regional Council Consolidating Funding Application process, to support regionally themed, New York focused projects to help to bolster tourism growth by promoting tourism destinations, attractions, and special events.
▪ Minority and Women-owned Business Development and Lending Program – an appropriation that provides financial assistance to minority- and women-owned business enterprises via loan funding.
▪ New NY Broadband Program – a $500 million appropriation to support broadband deployment to Unserved
and Underserved areas of the State, at Internet speeds of at least 100 megabits per second (Mbps) (download) in most places, and 25 Mbps (download) in the most remote parts of the State.
▪ New York Power Authority (“NYPA”) Craft Beverage Marketing Program – Funding established in FY 2014-2015, under Section 19 of Part I of Chapter 55 of the State Law, allowing the Power Authority of the State of New York to make a contribution of up to $90 million to the State Treasury, a portion of which was directed to the credit of ESD in furtherance of ESD’s Statewide economic development initiatives. The program will also support marketing initiatives that target craft beverage businesses located within the Central New York region to increase the profile, awareness and sales of Central New York produced wine, beer, spirits, and hard cider.
▪ New York Works Economic Development Fund – an appropriation to support economic development.
▪ New York Life Science Initiative Fund – A $320 million appropriation in the FY 2017-2018 budget to spur the growth of a new, world-class life science research cluster in New York, as well as expand the state’s ability to commercialize this research and grow the economy.
▪ Regional Council Capital Fund – an annual appropriation established under the Governor’s Regional Economic Development Council Initiative to support capital-based economic development initiatives intended to create or retain jobs, prevent or reduce unemployment and underemployment and to increase business activity in a community or region.
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 4
ECONOMIC DEVELOPMENT PROGRAMS: APPROPRIATION CATEGORIES CONTINUED
▪ Restore New York Communities Initiative – a $300 million appropriation, originally awarded for Rounds 1-3
between FY 2007- FY 2009, that aids municipalities in revitalizing vacant, abandoned or deteriorating commercial and residential properties which may be in need of demolition, rehabilitation or reconstruction. An additional $25 million was appropriated for Round 4 in 2016-17, and $70 million for Round 5 in 2017-18.
▪ Transformative Economic Development Program - a $150 million appropriation for projects that catalyze
private investment and result in resulting in significant economic development. The program also assists in the creation of temporary and permanent jobs, the growth of the commercial and residential tax base and the enhancement of the environment and quality of life for residents of Nassau or Suffolk County.
▪ Transformative Investment Program (“TIP”) - a $400 million appropriation to support capital costs of regionally significant economic development initiatives that create or retain private sector jobs. Funding is made available for project costs, services, expenses, loans and grants that catalyze private investment, grow commercial and residential tax bases and enhance the environment and quality of life for New York State residents.
▪ Upstate Revitalization Initiative - The New York Upstate Revitalization Initiative is part of an overall program
aimed at systematically revitalizing the economy of Upstate New York. Modeled after the success of the Buffalo Billion Initiative, the URI is an opportunity for the communities of upstate New York to address the economic challenges of their regions and work together in bringing jobs back upstate.
▪ Urban and Community Development Program – an appropriation that promotes economic development by
encouraging economic and employment opportunities in targeted communities and urban areas.
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 5
SECTION 1: CUMULATIVE SUMMARY OF COMMITMENTS AND DISBURSEMENTS
Cumulative Summary of Commitments by Appropriation
Commitments are broken down by appropriation category and detail the total funding commitments approved by ESD during the 2nd Quarter of FY 2019-2020. Appropriation Commitments
Buffalo Regional Innovation Cluster $24,635,000
Downtown Revitalization Initiative $865,752
Economic Development Initiatives $23,750
Empire State Economic Development Fund $2,765,000
Federal Department of Defense Program $138,000
Market New York Program $2,585,905
NYPA Craft Beverage Program $250,000
Regional Council Capital Fund $21,326,000
Restore New York Communities Initiative $3,240,000
Upstate Revitalization Initiative $30,500,000
Urban and Community Development Program $57,500
TOTAL $86,386,907
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 6
Cumulative Summary of Commitments by Appropriation: Project List (p.1)
Project Name Total CommitmentBuffalo Regional Innovation Cluster1021 Broadway ESCEDF $525,00043North Expansion Capital $1,500,000Broadway-Fillmore Commerical District $500,000DL&W Terminal Buffalo Billions 16-17 $20,000,000Jefferson Avenue Commercial District $500,000Kensington Bailey Commercial District $500,000Martin Luther King Park Commercial District $500,000Nash Lofts ESCEDF $610,000Subtotal $24,635,000
Downtown Revitalization Initiative
Bronx Kreate Space Capital $595,000Vine Health and Fitness DRI Capital $270,752Subtotal $865,752
Economic Development Initiatives
Enetics Working Capital Global NY $23,750Subtotal $23,750
Empire State Economic Development Program
Cornell Smart Supply Working Capital $350,000Dealertrack Technologies Capital $1,500,000EJ USA Capital $450,000Seal & Design Capital 2017 $100,000Sheltair Farmingdale Capital $365,000Subtotal $2,765,000
Federal Department of Defense Program
Bren-Tronics DOD Working Capital $20,000TechnoVax DOD Working Capital $20,000Vistex DOD Working Capital $20,000Lite Coms DOD Working Capital $78,000Subtotal $138,000
Market New York Program
Bedford Stuyvesant Tourism Working Capital $75,000Brooklyn Botanic Garden Working Capital $225,000Catskill Revitalization - Day Out With Thomas the Tank Engine Working Capital $58,800City of Auburn NYS Equal Rights Heritage Center Working Capital $150,000City Winery Hudson Valley, Working Capital $240,000Discover Hudson Valley Working Capital $202,500Dunkirk Great Lakes Grand Prix Boat Races Working Capital $225,000Long Island LGBT - Pride on the Beach 2019 Working Capital $375,000Louis Comfort Tiffany: Treasures from the Dreihaus Collection Working Capital $78,327LUMA NY Waterways Mist Projection $89,000Rochester Fringe Festival Working Capital $144,788Special Touch Bakery Expansion and Outreach Working Capital $107,000Stonewall 50 and World Pride NYC Working Capital $37,500Storm King Art Center Working Capital $50,250The Apple of Our Eye Elevating the Reputation of New York's Craft Cider Working Capital $123,500Watkins Glen Out-of-State Traveler Campaign 2019 Working Capital $150,000World Surf League Working Capital $254,240Subtotal $2,585,905
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 7
Cumulative Summary of Commitments by Appropriation: Project List (p.2)
Project Name Total CommitmentNYPA Craft Beverage Program
Oneida County Tourism - Brew Central Working Capital $250,000Subtotal $250,000
Regional Council Capital Fund
Acropolis Center Redevelopment $800,000Advanced Manufacturing Training Capital $2,900,000A-L Tier II LLC/SIDEARM Capital $250,000Currier Plastics Capital (2) $1,570,000Flomatic Plant Expansion Capital $350,000Gerard Place Community Center Phase II Capital (2 commitments) $685,000Herkimer County IDA Schuyler Land Development Capital $120,000Hobart and William Smith Colleges Capital $250,000Jamestown West 2nd Street Public Piazza Capital $140,000K-TECHnologies F-35 Program Capital $100,000Lincoln Building Renovation Phase 2 Capital RC6 $450,000Lindsey Aggregates Capital $140,000Marquart Dairy Capital $1,500,000Memorial Art Gallery of the University of Rochester Capital $100,000Montefiore Nyack Hospital Capital $340,000National Urban League Capital $2,500,000North Country Dairy Capital $300,000Oerlikon Metco Capital $100,000Redhouse Arts and Culture Complex Capital $1,300,000Roycroft Campus Corporation- Copper Shop Capital $50,000Sheltair Farmingdale Capital $200,000Strobels Supply Expansion Capital $200,000Super DIRT Week 2019-25 $3,629,000Thuro Metal Products Capital $57,000Unither Capital $1,000,000UR Medicine 3D Organ Printing Capital $500,000Village of Carthage Wastewater Capital $1,650,000Watertown Industrial Center Improvements Capital $60,000Willow Rock Brewing Company Capital $85,000Subtotal $21,326,000
Restore New York Communities Initiative
City of Watertown - Court St. Commons Redevelopment RESTORE NY V $990,000New York-RESTORE II - West 125th Street $2,000,000Town of Catskill - Quality Inn Demo RESTORE IV $250,000Subtotal $3,240,000
Upstate Revitalization Initiative Program
Luminate NY Renewal $15,000,000Morse Manufacturing - Building and Equipment $500,000New York Food & Agriculture Challenge (Grow-NY) $15,000,000Subtotal $30,500,000
Urban and Community Development Program
City of Tonawanda Feasibility Study Working Capital $57,500Subtotal $57,500
Total $86,386,907
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 8
SECTION 1: CUMULATIVE SUMMARY OF COMMITMENTS AND DISBURSEMENTS
Cumulative Summary of Disbursements by Appropriation
Disbursements are broken down by appropriation category and detail the total funding disbursements made during the 2nd Quarter of FY 2019-2020 for funding commitments previously approved by ESD.
Appropriation Disbursements
Buffalo Regional Innovation Cluster $9,968,769
Community Development Financial Institution $16,000
Downtown Revitalization Initiative $863,883
Economic Development Initiatives Fund $17,378,762
Economic Development Purposes Fund $180,000
Economic Transformation Program $150,000
Empire State Economic Development Fund $1,154,000
Entrepreneurial Assistance Program $353,569
Federal Department of Defense Program $462,228
High Technology Innovation and Economic
Development Infrastructure Program $114,400,000
Jobs Now Program $4,000,000
Market New York Program $953,263
Minority and Women-owned Business and
Development Lending Program $32,176
New NY Broadband Program $18,185,332
New York Works Economic Development Fund $10,382,635
New York Power Authority Program $666,667
NYPA Craft Beverage Marketing Program $76,703
New York State Life Science Initiative Fund $4,420
Regional Council Capital Fund $22,578,507
Restore New York Communities Initiative $4,932,065
Transformative Economic Development Program $4,000,000
Transformative Investment Program $769,999
Upstate Revitalization Initiative $32,427,108
Urban and Community Development Program $390,718
TOTAL $244,326,806
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 9
Cumulative Summary of Disbursements by Appropriation: Project List (p. 1)
Project Name Commitment
Disbursement During
Q2 2019-2020
Buffalo Regional Innovation Cluster
429 Plymouth Avenue Better Buffalo Fund $1,553,974 $1,553,974
43North LLC Working Capital 2017-2018 $10,000,000 $2,775,000
Anderson Properties, Niagara Falls $27,005,000 $15,929
Buffalo Investment Development Strategy $2,250,000 $254,194
CCNF Operations Capital and Working Capital $2,800,000 $104,817
Darwin Martin House Buffalo Billions 16-17 $5,000,000 $492,613
Restore the Gorge Buffalo Billions 16-17 $1,000,000 $22,242
SUNY RF NYS Genome Medicine and Big Data Center Working Capital $47,500,000 $3,000,000
Tonawanda Smart Growth $2,500,000 $1,750,000
Subtotal $99,608,974 $9,968,769
Community Development Financial Institution Program
WVF CDFI 20 $40,000 $16,000
Subtotal $40,000 $16,000
Downtown Revitalization Initiative
AECOM USA DRI 3 $300,000 $26,547
Bergmann Associates DRI 3 $600,000 $116,429
Buckhurst, Fish & Jacquemart DRI 3 $300,000 $131,300
HR&A Advisors DRI 3 $600,000 $107,998
LaBella Associates DRI 3 $300,000 $11,216
MJ Engineering and Land Surveying DRI 3 $300,000 $151,689
Standard Practice Working Capital $250,000 $50,000
Stantec Consulting Services DRI 3 $300,000 $196,567
VHB Engineering, Surveying and Landscape Architecture DRI 3 $300,000 $72,137
Subtotal $3,250,000 $863,883
Economic Development Initiatives Fund
Buffalo Niagara Partnership Working Capital $13,702 $13,703
Business Attraction & Retention 17-18 $34,000,000 $331,505
Business Attraction & Retention 19-20 $6,000,000 $2,419,864
Central NY TDO Working Capital $16,500 $15,583
CVD Working Capital $22,352 $22,352
Electronics and Innovation Working Capital $13,889 $13,889
Emmelle Export Growth Working Capital $16,152 $16,152
LightsUp! Working Capital $15,185 $15,185
North Park Working Capital $22,432 $22,432
Tourism 17-18 $30,500,000 $510,874
Tourism 19-20 $33,500,000 $13,972,889
VITS Working Capital $24,334 $24,334
Subtotal $104,144,546 $17,378,762
Economic Development Purposes Fund
Long Island STEM Hub Working Capital $320,000 $60,000
Mercy Corps Business Mentor NY Website Hosting $375,000 $120,000
Subtotal $695,000 $180,000
Economic Transformation Program
Pure Functional Foods Capital $400,000 $150,000
Subtotal $400,000 $150,000
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 10
Cumulative Summary of Disbursements by Appropriation: Project List (p. 2)
Project Name Commitment
Disbursement During
Q2 2019-2020
Empire State Economic Development Fund
Aurora Machine Capital $300,000 $25,000
Bronx Community College Film Production Training Program $375,000 $225,000
Cozzini Bros. Capital $150,000 $37,500
Optimax Systems Capital $187,500 $187,500
Tulip Molded Plastics Capital $550,000 $125,000
Upstate Niagara Improvements Capital $220,000 $220,000
Worcester Creameries Capital $334,000 $334,000
Subtotal $2,116,500 $1,154,000
Entrepreneurial Assistance Program
EAP-ACCORD Entrepreneurial Assistance Program Center 18-19 $76,442 $38,221
EAP-Binghamton LDC Entrepreneurial Assistance Program Center 18-19 $76,442 $38,038
EAP-Capital Chamber Foundation Entrepreneurial Assistance Program Center 18-19 $76,442 $76,442
EAP-Chinatown Manpower Power EAP Center 16-17 $80,900 $40,450
EAP-Chinatown Manpower Project- Business Outreach Center EAP 17-18 $81,465 $40,733
EAP-Hofstra University Entrepreneurial Assistance Program Center 18-19 $76,442 $38,221
EAP-Hot Bread Kitchen Entrepreneurial Assistance Program Center 17-18 $81,465 $40,733
EAP-IBERO Waverly Entrepreneurial Assistance Program Center 17-18 $81,465 $40,733
Subtotal $631,063 $353,569
Federal Department of Defense Program
DiLab R3 MTAG Working Capital $50,000 $43,454
DiLAB-Bonbouton Working Capital $50,000 $38,789
DOD Cybersecurity Assistance $303,600 $26,380
Lithoz America- Working Capital $20,605 $20,605
Pvilion DOD Working Capital $13,000 $13,000
RIT LSI Working Capital $200,000 $200,000
SCCC DOD Working Capital $50,000 $100,000
Xallent Working Capital $20,000 $20,000
Subtotal $707,205 $462,228
High Technology Innovation and Economic Development Infrastructure Program
NYS-Applied Materials META Center Capital $250,000,000 $75,000,000
NYS-IBM AI Hardware Center Capital $300,000,000 $20,000,000
RF-NY CREATES Operating Support Working Capital $72,500,000 $19,400,000
Subtotal $622,500,000 $114,400,000
Jobs Now Program
Broadridge Financial Solutions $27,500,000 $4,000,000
Subtotal $27,500,000 $4,000,000
Market New York Program
Erie Canal Water Trail Working Capital $182,936 $105,242
Erie Canalway 200 Marketing Campaign Working Capital $124,575 $56,710
New York Cider Association Working Capital $51,000 $51,000
New York Wine and Grape Foundation Working Capital $93,750 $93,750
NY Wine Culinary Center Programmatic Working Capital $221,700 $22,684
Queens Tourism Council Working Capital $112,500 $86,432
Spiedie Fest Balloon Rally 2018 Working Capital $150,000 $81,563
Tenement Museum Under One Roof Working Capital $204,600 $204,600
The Wild Center Multi-Media Campaign Working Capital $300,000 $30,000
Visit Buffalo Niagara Working Capital $45,000 $45,000
Waterfront-A Special Exhibit Working Capital $176,283 $176,283
Subtotal $1,662,344 $953,263
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 11
Cumulative Summary of Disbursements by Appropriation: Project List (p. 3)
Project Name Commitment
Disbursement During
Q2 2019-2020
Minority and Women-owned Business Development and Lending
BOC MWBE Business Growth Accelerator Working Capital $150,000 $32,176
Subtotal $150,000 $32,176
New NY Broadband Program
2016 New NY Broadband Program Round 2 MIDTEL $6,831,856 $767,764
Armstrong Telephone Broadband Capital $1,778,256 $8,560
Central Catskills Initiative Broadband Capital $4,877,133 $521,963
Champlain Unserved New NY Broadband Capital $1,362,901 $60,114
Chazy and Westport NY Broadband Unserved Capital $2,363,839 $31,119
Chazy and Westport Telephone Broadband Capital-B $457,346 $4,998
Citizens Telephone Company of Hammond Broadband Capital $3,316,810 $257,314
Connecting the Capital District Phase 3 (Unserved) Broadband Capital 9-7467 $2,710,497 $780,732
Cortland-Chenango FTTH Broadband Capital $12,391,484 $1,079,766
DCBI Phase IV CAF Broadband Capital $3,861,077 $385,408
DCBI Phase IV Non-Caf Broadband Capital $5,329,453 $1,042,094
Deposit Telephone Unserved Broadband Capital $4,989,570 $986,937
DFT Local Service Corp. Northern Chautauqua NY BB Grant Phase 2 BB Capital $4,274,536 $338,105
Edwards Tel NY BB Phase II Capital $3,750,196 $605,416
FairPoint Communications Broadband Capital- A $2,013,513 $341,902
FairPoint Communications Broadband Capital- B $8,831,492 $649,685
Gtel Broadband Capital $2,512,562 $67,075
Haefele Phase 2 Underserved Broadband Capital $2,272,357 $898,040
Haefele Phase 2 Unserved Broadband Capital $2,749,975 $969,706
Hancock Telephone Company Broadband Capital $4,915,920 $647,341
Mid Hudson Phase 2 Broadband Capital $849,818 $358,473
Mid-Hudson Unserved Broadband Capital $950,184 $81,455
MIDTEL Unserved Broadband Capital $5,562,548 $40,610
MTC 2017 Lexington Broadband Initiative Capital $2,281,673 $77,697
MTC Cable Broadband Upgrade Capital $1,224,946 $46,051
Newport Telephone Unserved Broadband Capital $9,348,940 $473,589
Oneida County Rural Telephone Company $3,285,885 $84,110
Otsego Rural Broadband Capital I $2,631,472 $1,642,569
Pattersonville Telephone Company Broadband Capital $1,188,748 $18,266
Phase III CAF Broadband Capital $824,126 $142,405
Phase III Unserved Broadband Capital $3,649,999 $645,798
Taconic Telephone Underserved Broadband Capital $23,523,467 $3,217,630
TDS Telecom Edwards Telephone Broadband Capital $1,084,000 $424,946
Tompkins FTTH Broadband Capital $1,243,190 $487,695
Subtotal $139,239,769 $18,185,332
New York Works Economic Development Fund
Madison ARE Park $4,000,000 $4,000,000
Connect NYC $1,636,346 $346,053
Belmont North Next Generation Broadband $1,012,366 $178,306
Lyon Mountain Broadband $976,426 $140,367
ALCOA Massena Capital $23,000,000 $3,003,180
Empire Outlets Capital $41,000,000 $1,800,000
Lake Ontario Business Flood Recovery Grant Program (Physical Losses) $6,875,000 $164,729
Universal Stainless & Alloy Products Capital $868,532 $750,000
Subtotal $79,368,670 $10,382,635
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 12
Cumulative Summary of Disbursements by Appropriation: Project List (p. 4)
Project Name Commitment
Disbursement During
Q2 2019-2020
New York Power Authority Program
Renaissance - Global New York Export Small Business Revolving Loan Fund $1,666,667 $166,667
EGF - Global New York Export Small Business Revolving Loan Fund $1,500,000 $500,000
Subtotal $3,166,667 $666,667
NYPA Craft Beverage Program
Shawangunk Wine Trail Magazine Working Capital $46,818 $46,818
NYSBA 2016 Flour City Pavilion Working Capital $24,900 $9,456
NYSBA 2016 Syracuse Brewing Festival Working Capital $24,900 $20,429
Subtotal $96,618 $76,703
NYS Life Science Initiative Fund
Life Sciences Counsel $49,500 $4,420
Subtotal $49,500 $4,420
Regional Council Capital Fund
321 South Salina Street Capital $320,000 $320,000
Alken Industries Capital $20,000 $5,000
American Dance Institute Capital $500,000 $500,000
Aquarium of Niagara Jellyfish Exhibit Capital $68,000 $68,000
Bethlehem Steel Redevelopment Capital $2,280,000 $1,390,000
Center for Advanced Technology Capital $300,000 $300,000
Champlain Plastics Improvements Capital $110,000 $110,000
City of Auburn- Smart Grid Implementation Capital $1,200,000 $1,200,000
Community Tourism Transformation Fund $2,000,000 $200,000
Corning Community College Development Foundation Capital $8,000,000 $800,000
Crouse Hospital Emergency Department Capital $2,000,000 $2,000,000
Current Applications M&E Capital $19,000 $9,500
Ellicottville Brewing Company Capital REC6 $600,000 $450,000
Golisano Institute for Sustainability Capital $5,000,000 $4,000,000
Hudson Valley Lighting Combo $905,000 $176,250
HVCC Building Systems Technology Programs $13,598 $13,599
JBF Stainless Capital $680,000 $680,000
Jefferson Rehabilitation Center Capital $17,000 $17,000
Long Lake Next Generation Broadband $1,370,306 $34,048
MCC Applied Technology Center Capital $57,000 $57,000
MVEDGE Sewer Crossing Capital $700,000 $27,036
MVRCR Capital $1,748,000 $248,000
Nazareth College Glazer Music Performance Center Capital $1,000,000 $1,000,000
Port of Albany Big Lift Capital $4,000,000 $4,000,000
Roberts Wesleyan Technology Infrastructure Capital $145,000 $145,000
RXR SoYo Exalta Capital $1,000,000 $1,000,000
RXR SoYo Exalta Capital $1,250,000 $1,250,000
Special Touch Bakery Capital $481,000 $240,500
St. Joseph's College Capital $183,112 $183,112
St. Lawrence County IDA - Newton Falls Railroad phase 2 $8,672,000 $596,962
Tuxedo Sloatsburg Corridor Revitalization Capital $750,000 $187,500
Utica Coffee Roasting Company Capital $150,000 $150,000
Village of Wappingers Falls Capital $800,000 $800,000
William O. Smith Recreation Center Complex Improvements Capital $420,000 $420,000
Subtotal $46,759,016 $22,578,507
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 13
Cumulative Summary of Disbursements by Appropriation: Project List (p. 5)
Project Name Commitment
Disbursement During
Q2 2019-2020
Restore New York Communities Initiative
Avon – RESTORE – Avon Inn RESTORE IV $500,000 $500,000
City of Fulton RT 481 Gateway RESTORE IV $350,000 $350,000
City of Lockport- Tuscarora Club RESTORE IV $500,000 $119,664
City of Oneonta – Stevens Hardware Building RESTORE NY V $750,000 $478,980
New York - RESTORE III - Bush Terminal $10,000,000 $2,936,391
Village of Dansville - Dansville Depot RESTORE IV $285,488 $85,646
Village of Owego - Gateway Capital RESTORE IV $500,000 $461,384
Subtotal $12,885,488 $4,932,065
Transformative Economic Development Program
BNL Big Data Science Capital $15,000,000 $4,000,000
Subtotal $15,000,000 $4,000,000
Transformative Investment Program
Nassau Coliseum Renovation Capital $6,000,000 $769,999
Subtotal $6,000,000 $769,999
Upstate Revitalization Initiative
AIM Photonics Capital URI $216,887,080 $5,500,000
Alliance for Economic Inclusion Fund Capital and Working Capital $30,000,000 $6,000,000
Aurora Shoe Company Capital $50,000 $50,000
CenterState CEO GENIUSNY III-V URI Capital and Working Capital $15,000,000 $2,000,000
CenterState GENIUS NY II $5,000,000 $500,000
Dick's Merchandising & Supply Chain, Inc. Capital/Excelsior $12,450,000 $787,500
Excell Technology Ventures URI $25,000,000 $2,021,611
FlexTech Alliance Capital $20,000,000 $1,375,997
Giovanni Food Consolidation and Upgrade $1,085,000 $280,000
Greater Syracuse Soundstage $1,700,000 $100,000
McNeil & Co. Insurance Office Campus Capital $1,100,000 $1,100,000
MVRCR Capital $1,748,000 $626,000
Northeast UAS Airspace Integration Research Alliance Capital $30,000,000 $3,204,210
Photonics Venture Challenge Working Capital $10,000,000 $3,000,000
Sustainable Manufacturing Innovation Alliance REMADE Working Capital $10,000,000 $354,761
Tony Baird Electronics Capital $14,152 $7,029
Unmanned Secure Autonomous Flight Environment (U-SAFE) Capital $5,100,000 $1,020,000
Welch Allyn Expansion and Consolidation $12,300,000 $4,500,000
Subtotal $397,434,232 $32,427,108
Urban and Community Development Program
Arkell Museum Strategic Planning Capital $40,437 $40,437
Cattaraugus County Site Development Working Capital $34,750 $34,750
Jefferson County IDA Infrastructure Feasibility $50,000 $50,000
Military Base Consulting $993,465 $8,000
Military Base Consulting- UCDP $1,547,040 $82,000
NYC Waterfront Development Permitting Working Capital $300,000 $29,650
NYC Waterfront Development Permitting Working Capital $300,000 $18,210
Town of Lewiston Artpark Master Plan Capital $100,000 $50,000
Town of Wawarsing Planning and Feasibility Study Working Capital $20,000 $20,000
Upper Port Jefferson Strategic Planning Working Capital $10,882 $10,882
Village of Victor Downtown Revitalization Plan Working Capital $25,000 $25,000
West Canada Creek Flood Mitigation Working Capital $21,789 $21,789
Subtotal $3,443,363 $390,718
Total $1,566,848,955 $244,326,806
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 14
SECTION 2: GEOGRAPHIC DISTRIBUTION OF APPROVED
PROJECTS
Region Approved Projects Total Commitments
Capital 4 Projects $3,520,000
Central 11 Projects $9,144,752
Finger Lakes 10 Projects $18,703,538
Long Island 7 Projects $2,871,240
Mid-Hudson 5 Projects $852,750
Mohawk Valley 3 Projects $448,327
New York City 6 Projects $5,432,500
North Country 5 Projects $3,450,000
Southern Tier 7 Projects $15,971,300
Western New York 15 Projects $25,992,500
TOTAL 73 Projects $86,386,907
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 15
Geographic Distribution of Approved Projects: Project List (p. 1)
Project Name Total Commitment
Capital Region
Advanced Manufacturing Training Capital $2,900,000
Flomatic Plant Expansion Capital $350,000
Town of Catskill - Quality Inn Demo RESTORE IV $250,000
Vistex DOD Working Capital $20,000
Subtotal $3,520,000
Central Region
Acropolis Center Redevelopment $800,000
A-L Tier II LLC/SIDEARM Capital $250,000
City of Auburn NYS Equal Rights Heritage Center Working Capital $150,000
Currier Plastics Capital (2) $1,570,000
EJ USA Capital $450,000
Lindsey Aggregates Capital $140,000
Morse Manufacturing - Building and Equipment $500,000
Redhouse Arts and Culture Complex Capital $1,300,000
Super DIRT Week 2019-25 $3,629,000
Vine Health and Fitness DRI Capital $270,752
Willow Rock Brewing Company Capital $85,000
Subtotal $9,144,752
Finger Lakes Region
Enetics Working Capital Global NY $23,750
Hobart and William Smith Colleges Capital $250,000
Lite Coms DOD Working Capital $78,000
Luminate NY Renewal $15,000,000
Marquart Dairy Capital $1,500,000
Memorial Art Gallery of the University of Rochester Capital $100,000
Rochester Fringe Festival Working Capital $144,788
Special Touch Bakery Expansion and Outreach Working Capital $107,000
Unither Capital $1,000,000
UR Medicine 3D Organ Printing Capital $500,000
Subtotal $18,703,538
Long Island Region
Bren-Tronics DOD Working Capital $20,000
Dealertrack Technologies Capital $1,500,000
Long Island LGBT - Pride on the Beach 2019 Working Capital $375,000
Oerlikon Metco Capital $100,000
Sheltair Farmingdale Capital $565,000
Thuro Metal Products Capital $57,000
World Surf League Working Capital $254,240
Subtotal $2,871,240
Mid-Hudson Region
City Winery Hudson Valley, Working Capital $240,000
Discover Hudson Valley Working Capital $202,500
Montefiore Nyack Hospital Capital $340,000
Storm King Art Center Working Capital $50,250
TechnoVax DOD Working Capital $20,000
Subtotal $852,750
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 16
Geographic Distribution of Approved Projects: Project List (p. 2)
Project Name Total Commitment
Mohawk Valley Region
Herkimer County IDA Schuyler Land Development Capital $120,000
Louis Comfort Tiffany: Treasures from the Dreihaus Collection Working Capital $78,327
Oneida County Tourism - Brew Central Working Capital $250,000
Subtotal $448,327
New York City Region
Bedford Stuyvesant Tourism Working Capital $75,000
Bronx Kreate Space Capital $595,000
Brooklyn Botanic Garden Working Capital $225,000
National Urban League Capital $2,500,000
New York-RESTORE II - West 125th Street $2,000,000
Stonewall 50 and World Pride NYC Working Capital $37,500
Subtotal $5,432,500
North Country Region
City of Watertown - Court St. Commons Redevelopment RESTORE NY V $990,000
Lincoln Building Renovation Phase 2 Capital RC6 $450,000
North Country Dairy Capital $300,000
Village of Carthage Wastewater Capital $1,650,000
Watertown Industrial Center Improvements Capital $60,000
Subtotal $3,450,000
Southern Tier Region
Catskill Revitalization - Day Out With Thomas the Tank Engine Working Capital $58,800
Cornell Smart Supply Working Capital $350,000
LUMA NY Waterways Mist Projection $89,000
New York Food & Agriculture Challenge (Grow-NY) $15,000,000
Strobels Supply Expansion Capital $200,000
The Apple of Our Eye Elevating the Reputation of New York's Craft Cider Working Capital $123,500
Watkins Glen Out-of-State Traveler Campaign 2019 Working Capital $150,000
Subtotal $15,971,300
Western New York Region
1021 Broadway ESCEDF $525,000
43North Expansion Capital $1,500,000
Broadway-Fillmore Commerical District $500,000
City of Tonawanda Feasibility Study Working Capital $57,500
DL&W Terminal Buffalo Billions 16-17 $20,000,000
Dunkirk Great Lakes Grand Prix Boat Races Working Capital $225,000
Gerard Place Community Center Phase II Capital $685,000
Jamestown West 2nd Street Public Piazza Capital $140,000
Jefferson Avenue Commercial District $500,000
Kensington Bailey Commercial District $500,000
K-TECHnologies F-35 Program Capital $100,000
Martin Luther King Park Commercial District $500,000
Nash Lofts ESCEDF $610,000
Roycroft Campus Corporation- Copper Shop Capital $50,000
Seal & Design Capital 2017 $100,000
Subtotal $25,992,500
Total $86,386,907
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 17
SECTION 3: JOB CREATION AND RETENTION
Number Initial Retained Created Total Region of Projects Jobs Jobs Jobs Jobs
Capital 4 45 45 15 60 Central 11 478 478 78 556 Finger Lakes 10 262 262 0 262 Long Island 7 966 966 363 1,329 Mid-Hudson 5 0 0 0 0 Mohawk Valley 3 0 0 0 0 New York City 6 0 0 0 0 North Country 5 145 145 17 162 Southern Tier 7 19 19 10 29 Western New York 15 194 194 45 239 Total 73 2,109 2,109 528 2,637
Please note the following:
▪ Approved projects in certain programs (e.g. Restore New York Communities Initiative, Community Development Financial Institution Program, Regional Council Capital Fund, Urban and Community Development Program) or for certain purposes (e.g. worker training, marketing, research and development, loan funds, infrastructure) are intended to enhance productivity, afford access to capital for smaller or disadvantaged businesses, advance targeted industries or regional priorities, or improve infrastructure or communities. In some of these instances, job creation is not a primary goal and thus is not tracked.
▪ Initial Jobs is the baseline employment number.
▪ Retained Jobs indicates when some or all of a company’s jobs were in jeopardy of being lost, typically through plant closures or companies moving out of the state.
▪ Created Jobs indicates anticipated job growth over a one- to five-year horizon.
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 18
Job Creation and Retention: Project List (p. 1)
Project NameTotal
CommitmentInitial Jobs Retained Jobs Created Jobs Total Jobs
Capital RegionAdvanced Manufacturing Training Capital $2,900,000 0 0 0 0Flomatic Plant Expansion Capital $350,000 45 45 15 60Town of Catskill - Quality Inn Demo RESTORE IV $250,000 0 0 0 0Vistex DOD Working Capital $20,000 0 0 0 0Subtotal $3,520,000 45 45 15 60
Central RegionAcropolis Center Redevelopment $800,000 0 0 0 0A-L Tier II LLC/SIDEARM Capital $250,000 175 175 35 210City of Auburn NYS Equal Rights Heritage Center Working Capital $150,000 0 0 0 0Currier Plastics Capital (2) $1,570,000 150 150 20 170EJ USA Capital $450,000 80 80 9 89Lindsey Aggregates Capital $140,000 17 17 4 21Morse Manufacturing - Building and Equipment $500,000 34 34 0 34Redhouse Arts and Culture Complex Capital $1,300,000 22 22 0 22Super DIRT Week 2019-25 $3,629,000 0 0 0 0Vine Health and Fitness DRI Capital $270,752 0 0 0 0Willow Rock Brewing Company Capital $85,000 0 0 10 10Subtotal $9,144,752 478 478 78 556
Finger Lakes RegionEnetics Working Capital Global NY $23,750 0 0 0 0Hobart and William Smith Colleges Capital $250,000 0 0 0 0Lite Coms DOD Working Capital $78,000 0 0 0 0Luminate NY Renewal $15,000,000 0 0 0 0Marquart Dairy Capital $1,500,000 0 0 0 0Memorial Art Gallery of the University of Rochester Capital $100,000 0 0 0 0Rochester Fringe Festival Working Capital $144,788 0 0 0 0Special Touch Bakery Expansion and Outreach Working Capital $107,000 0 0 0 0Unither Capital $1,000,000 262 262 0 262UR Medicine 3D Organ Printing Capital $500,000 0 0 0 0Subtotal $18,703,538 262 262 0 262
Long Island RegionBren-Tronics DOD Working Capital $20,000 0 0 0 0Dealertrack Technologies Capital $1,500,000 535 535 357 892Long Island LGBT - Pride on the Beach 2019 Working Capital $375,000 0 0 0 0Oerlikon Metco Capital $100,000 275 275 4 279Sheltair Farmingdale Capital (2 commitments) $565,000 103 103 0 103Thuro Metal Products Capital $57,000 53 53 2 55World Surf League Working Capital $254,240 0 0 0 0Subtotal $2,871,240 966 966 363 1,329
Mid-Hudson RegionCity Winery Hudson Valley, Working Capital $240,000 0 0 0 0Discover Hudson Valley Working Capital $202,500 0 0 0 0Montefiore Nyack Hospital Capital $340,000 0 0 0 0Storm King Art Center Working Capital $50,250 0 0 0 0TechnoVax DOD Working Capital $20,000 0 0 0 0Subtotal $852,750 0 0 0 0
Mohawk Valley RegionHerkimer County IDA Schuyler Land Development Capital $120,000 0 0 0 0Louis Comfort Tiffany: Treasures from the Dreihaus Collection Working Capital $78,327 0 0 0 0Oneida County Tourism - Brew Central Working Capital $250,000 0 0 0 0Subtotal $448,327 0 0 0 0
New York City RegionBedford Stuyvesant Tourism Working Capital $75,000 0 0 0 0Bronx Kreate Space Capital $595,000 0 0 0 0Brooklyn Botanic Garden Working Capital $225,000 0 0 0 0National Urban League Capital $2,500,000 0 0 0 0New York-RESTORE II - West 125th Street $2,000,000 0 0 0 0Stonewall 50 and World Pride NYC Working Capital $37,500 0 0 0 0Subtotal $5,432,500 0 0 0 0
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 19
Job Creation and Retention: Project List (p. 2)
Project NameTotal
CommitmentInitial Jobs Retained Jobs Created Jobs Total Jobs
North Country RegionCity of Watertown - Court St. Commons Redevelopment RESTORE NY V $990,000 0 0 0 0Lincoln Building Renovation Phase 2 Capital RC6 $450,000 0 0 0 0North Country Dairy Capital $300,000 85 85 17 102Village of Carthage Wastewater Capital $1,650,000 0 0 0 0Watertown Industrial Center Improvements Capital $60,000 60 60 0 60Subtotal $3,450,000 145 145 17 162
Southern Tier RegionCatskill Revitalization - Day Out With Thomas the Tank Engine Working Capital $58,800 0 0 0 0Cornell Smart Supply Working Capital $350,000 0 0 0 0LUMA NY Waterways Mist Projection $89,000 0 0 0 0New York Food & Agriculture Challenge (Grow-NY) $15,000,000 0 0 0 0Strobels Supply Expansion Capital $200,000 19 19 10 29The Apple of Our Eye Elevating the Reputation of New York's Craft Cider Working Capital $123,500 0 0 0 0Watkins Glen Out-of-State Traveler Campaign 2019 Working Capital $150,000 0 0 0 0Subtotal $15,971,300 19 19 10 29
Western New York Region1021 Broadway ESCEDF $525,000 0 0 0 043North Expansion Capital $1,500,000 0 0 0 0Broadway-Fillmore Commerical District $500,000 0 0 0 0
City of Tonawanda Feasibility Study Working Capital $57,500 0 0 0 0DL&W Terminal Buffalo Billions 16-17 $20,000,000 0 0 0 0Dunkirk Great Lakes Grand Prix Boat Races Working Capital $225,000 0 0 0 0Gerard Place Community Center Capital (2 commitments) $685,000 0 0 0 0Jamestown West 2nd Street Public Piazza Capital $140,000 0 0 0 0Jefferson Avenue Commercial District $500,000 0 0 0 0Kensington Bailey Commercial District $500,000 0 0 0 0K-TECHnologies F-35 Program Capital $100,000 74 74 24 98Martin Luther King Park Commercial District $500,000 0 0 0 0
Nash Lofts ESCEDF $610,000 0 0 0 0Roycroft Campus Corporation- Copper Shop Capital $50,000 0 0 0 0Seal & Design Capital 2017 $100,000 120 120 21 141Subtotal $25,992,500 194 194 45 239
Total $86,386,907 2,109 2,109 528 2,637
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 20
SECTION 4: IMPACT OF APPROVED PROJECTS ON DISTRESSED URBAN
AND RURAL COMMUNITIES, SMALL- AND MEDIUM-SIZED
BUSINESSES AND STRATEGIC INDUSTRIES
For each project with funding exceeding $100,000 and the goal of creating or retaining jobs, ESD staff prepares an analysis of the benefits and costs that accrue to New York State based on income and sales tax revenues that are expected to be generated by direct and indirect jobs (e.g. construction). Summary information is provided below, and the attached Project Lists indicate this information where relevant (projects without construction or job creation indicate “N/A”). Individual analyses are attached in the appendix.
Distressed Urban and Rural Communities Of the 71 recipients of funding approved by ESD in the 2nd Quarter of Fiscal Year 2019-2020, 41 recipients (58%) were located in distressed communities. Of these 41 recipients,
▪ 8 (11% of total funding recipients) were located in a distressed rural community ▪ 33 (47% of total funding recipients) were located in distressed urban communities
Small- and Medium-sized Businesses Of the 71 recipients of funding approved by ESD in the 2nd Quarter of Fiscal Year 2019-2020, 28 (29%) were small or medium-sized businesses or organizations.
Strategic Industries Of the 73 projects approved by ESD in the 2nd Quarter of Fiscal Year 2019-2020, the following industries were represented:
Industry Percentage of Total Funding # of Project(s)
Arts Culture & Entertainment 8% 13
Business Consultancy 22% 6
Education 22% 6
Food & Beverage Manufacturing/Distribution 3% 5
Health 0.42% 2
Machinery & Miscellaneous Manufacturing 5.4% 13
Municipal /Government/Not-For-Profit 32.1% 17 Real Estate Development 7% 8 Tourism <1% 2 Transportation <1% 1
Please note the following:
▪ To determine if a project is in a distressed area, Department of Labor information was used to determine whether the county’s unemployment rate was above 4.1% (the New York State unemployment average for the year 2018). “Urban” projects are located in New York State’s 62 designated cities; other projects are considered “Rural.”
▪ A company is considered small- or medium-sized if it employs fewer than 500 persons.
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 21
Distressed Urban and Rural Communities: Project List
Project Name Benefit Cost
Rural
Catskill Revitalization - Day Out With Thomas the Tank Engine Working Capital N/A N/A
EJ USA Capital $4,041,390 $797,080
Herkimer County IDA Schuyler Land Development Capital N/A N/A
Lindsey Aggregates Capital $234,110 $140,000
North Country Dairy Capital $1,337,421 $300,000
Roycroft Campus Corporation- Copper Shop Capital N/A N/A
Seal & Design Capital 2017 $1,858,186 $100,000
Town of Catskill - Quality Inn Demo RESTORE IV N/A N/A
Subtotal $7,471,107 $1,337,080
Urban
1021 Broadway ESCEDF N/A N/A
43North Expansion Capital N/A N/A
Bedford Stuyvesant Tourism Working Capital N/A N/A
Broadway-Fillmore Commerical District N/A N/A
Bronx Kreate Space Capital N/A N/A
Brooklyn Botanic Garden Working Capital N/A N/A
City of Auburn NYS Equal Rights Heritage Center Working Capital N/A N/A
City of Tonawanda Feasibility Study Working Capital N/A N/A
City of Watertown - Court St. Commons Redevelopment RESTORE NY V N/A N/A
Currier Plastics Capital (2) $1,734,690 $1,570,000
DL&W Terminal Buffalo Billions 16-17 N/A N/A
Dunkirk Great Lakes Grand Prix Boat Races Working Capital N/A N/A
Gerard Place Community Center Phase II Capital N/A N/A
Gerard Place Education and Community Center N/A N/A
Jamestown West 2nd Street Public Piazza Capital N/A N/A
Jefferson Avenue Commercial District N/A N/A
Kensington Bailey Commercial District N/A N/A
K-TECHnologies F-35 Program Capital N/A N/A
Lincoln Building Renovation Phase 2 Capital RC6 $3,369,943 $450,000
Lite Coms DOD Working Capital N/A N/A
Louis Comfort Tiffany: Treasures from the Dreihaus Collection Working Capital N/A N/A
LUMA NY Waterways Mist Projection N/A N/A
Luminate NY Renewal N/A N/A
Martin Luther King Park Commercial District N/A N/A
Memorial Art Gallery of the University of Rochester Capital N/A N/A
Nash Lofts ESCEDF N/A N/A
Oneida County Tourism - Brew Central Working Capital N/A N/A
Rochester Fringe Festival Working Capital N/A N/A
Special Touch Bakery Expansion and Outreach Working Capital N/A N/A
Super DIRT Week 2019-25 N/A N/A
Unither Capital N/A N/A
UR Medicine 3D Organ Printing Capital N/A N/A
Village of Carthage Wastewater Capital N/A N/A
Vine Health and Fitness DRI Capital $35,132 $270,752
Watertown Industrial Center Improvements Capital N/A N/A
Subtotal $5,139,765 $2,290,752
Total $12,610,872 $3,627,832
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 22
Small and Medium-Sized Business: Project List
Project Name Benefit Cost
Acropolis Center Redevelopment N/A N/A
Broadway-Fillmore Commerical District N/A N/A
Bronx Kreate Space Capital N/A N/A
City Winery Hudson Valley, Working Capital N/A N/A
Currier Plastics Capital (2) $1,734,690 $1,570,000
EJ USA Capital $4,041,390 $797,080
Enetics Working Capital Global NY N/A N/A
Flomatic Plant Expansion Capital $577,085 $554,306
Gerard Place Community Center Capital (2 Commitments) N/A N/A
Jefferson Avenue Commercial District N/A N/A
Kensington Bailey Commercial District N/A N/A
K-TECHnologies F-35 Program Capital N/A N/A
Lincoln Building Renovation Phase 2 Capital RC6 $3,369,943 $450,000
Lindsey Aggregates Capital $234,110 $140,000
Lite Coms DOD Working Capital N/A N/A
Luminate NY Renewal N/A N/A
Marquart Dairy Capital N/A N/A
Martin Luther King Park Commercial District N/A N/A
Morse Manufacturing - Building and Equipment N/A N/A
National Urban League Capital N/A N/A
North Country Dairy Capital $1,337,421 $300,000
Redhouse Arts and Culture Complex Capital $2,117,707 $1,300,000
Special Touch Bakery Expansion and Outreach Working Capital N/A N/A
Stonewall 50 and World Pride NYC Working Capital N/A N/A
Thuro Metal Products Capital $1,278,961 $57,000
Unither Capital N/A N/A
Vine Health and Fitness DRI Capital $35,132 $270,752
Vistex DOD Working Capital N/A N/A
Willow Rock Brewing Company Capital $372,236 $85,000
Total $15,098,675 $5,524,138
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 23
Strategic Industries: Project List (p. 1)
Project Name Benefit Cost
Arts/Entertainment/Sports/ Recreation
Bronx Kreate Space Capital N/A N/A
Brooklyn Botanic Garden Working Capital N/A N/A
Louis Comfort Tiffany: Treasures from the Dreihaus Collection Working Capital N/A N/A
LUMA NY Waterways Mist Projection N/A N/A
Redhouse Arts and Culture Complex Capital $2,117,707 $1,300,000
Rochester Fringe Festival Working Capital N/A N/A
Roycroft Campus Corporation- Copper Shop Capital N/A N/A
Stonewall 50 and World Pride NYC Working Capital N/A N/A
Storm King Art Center Working Capital N/A N/A
Super DIRT Week 2019-25 N/A N/A
Vine Health and Fitness DRI Capital $35,132 $270,752
Watkins Glen Out-of-State Traveler Campaign 2019 Working Capital N/A N/A
World Surf League Working Capital N/A N/A
Subtotal $2,152,839 $1,570,752
Business Consultancy
A-L Tier II LLC/SIDEARM Capital N/A N/A
Dealertrack Technologies Capital N/A N/A
Enetics Working Capital Global NY N/A N/A
Luminate NY Renewal N/A N/A
New York-RESTORE II - West 125th Street N/A N/A
Vistex DOD Working Capital N/A N/A
Subtotal $0 $0
Education
Advanced Manufacturing Training Capital N/A N/A
Cornell Smart Supply Working Capital N/A N/A
Hobart and William Smith Colleges Capital N/A N/A
Memorial Art Gallery of the University of Rochester Capital N/A N/A
New York Food & Agriculture Challenge (Grow-NY) N/A N/A
UR Medicine 3D Organ Printing Capital N/A N/A
Subtotal $0 $0
Food & Beverage Manufacturing/Distribution
City Winery Hudson Valley, Working Capital N/A N/A
Marquart Dairy Capital N/A N/A
North Country Dairy Capital $1,337,421 $300,000
Special Touch Bakery Expansion and Outreach Working Capital N/A N/A
Willow Rock Brewing Company Capital N/A N/A
Subtotal $1,337,421 $300,000
Health
Montefiore Nyack Hospital Capital N/A N/A
TechnoVax DOD Working Capital N/A N/A
Subtotal $0 $0
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 24
Strategic Industries: Project List (p. 2)
Project Name Benefit Cost
Machinery & Miscellaneous Manufacturing
Bren-Tronics DOD Working Capital N/A N/A
Currier Plastics Capital (2) $1,734,690 $1,570,000
EJ USA Capital $4,041,390 $797,080
Flomatic Plant Expansion Capital $577,085 $554,306
K-TECHnologies F-35 Program Capital N/A N/A
Lindsey Aggregates Capital $234,110 $140,000
Lite Coms DOD Working Capital N/A N/A
Morse Manufacturing - Building and Equipment $1,597,215 $500,000
Oerlikon Metco Capital $366,925 $100,000
Seal & Design Capital 2017 $1,858,186 $100,000
Strobels Supply Expansion Capital $302,881 $200,000
Thuro Metal Products Capital $1,278,961 $57,000
Unither Capital N/A N/A
Subtotal $11,991,443 $4,018,386
Municipal /Government/Not-For-Profit
1021 Broadway ESCEDF N/A N/A
Bedford Stuyvesant Tourism Working Capital N/A N/A
Catskill Revitalization - Day Out With Thomas the Tank Engine Working Capital N/A N/A
City of Auburn NYS Equal Rights Heritage Center Working Capital N/A N/A
City of Tonawanda Feasibility Study Working Capital N/A N/A
City of Watertown - Court St. Commons Redevelopment RESTORE NY V N/A N/A
DL&W Terminal Buffalo Billions 16-17 N/A N/A
Dunkirk Great Lakes Grand Prix Boat Races Working Capital N/A N/A
Herkimer County IDA Schuyler Land Development Capital N/A N/A
Jamestown West 2nd Street Public Piazza Capital N/A N/A
Kensington Bailey Commercial District N/A N/A
Long Island LGBT - Pride on the Beach 2019 Working Capital N/A N/A
National Urban League Capital N/A N/A
The Apple of Our Eye Elevating the Reputation of New York's Craft Cider Working Capital N/A N/A
Town of Catskill - Quality Inn Demo RESTORE IV N/A N/A
Village of Carthage Wastewater Capital N/A N/A
Watertown Industrial Center Improvements Capital N/A N/A
Subtotal $0 $0
Real Estate Development/Housing
43North Expansion Capital N/A N/A
Acropolis Center Redevelopment N/A N/A
Broadway-Fillmore Commerical District N/A N/A
Gerard Place Community Center Phase Capital (2 Commitments) N/A N/A
Jefferson Avenue Commercial District N/A N/A
Lincoln Building Renovation Phase 2 Capital RC6 $3,369,943 $450,000
Martin Luther King Park Commercial District N/A N/A
Nash Lofts ESCEDF N/A N/A
Subtotal $3,369,943 $450,000
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 25
Strategic Industries: Project List (p. 3)
Project Name Benefit Cost
Tourism
Discover Hudson Valley Working Capital N/A N/A
Oneida County Tourism - Brew Central Working Capital N/A N/A
Subtotal $0 $0
Transportation
Sheltair Farmingdale Capital (2 Commitments) N/A N/A
Subtotal $0 $0
Total $18,851,646 $6,339,138
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 26
APPENDIX: FISCAL BENEFIT TO COST EVALUATIONS
Where impact was quantifiable, the projects that were analyzed yield an overall Fiscal Benefit to Cost ratio of 3.77. This means that for each dollar of New York State government subsidy, such as tax exemptions or abatements on sales, property and interest income, there was a return to the tax base of $3.77.
Total Projects
Please note the following: ▪ Benefit Cost Evaluations are used in evaluating projects that are categorized as Business
Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. Unlike typical ESD Business Investment projects, which involve direct job creation and retention, Infrastructure Investment (e.g. the development or expansion of basic systems and facilities, including transportation, water and sewer, communication, energy generation and distribution, and parking facilities) and Economic Growth Investment (e.g. projects that foster economic growth through cultural activity, higher education activity, regional revolving loan and grant programs, other local or regional initiatives, agribusiness initiatives, marketing activities, training or education programs, or technical assistance) may not involve permanent job commitments. Such projects generate long-term benefits not captured in the period of analysis. This is reflected in the Benefit Cost Evaluations as compared to benchmarks developed for Infrastructure Investment and Economic Growth Investment projects.
Project Name Benefit Cost
EJ USA Capital $4,041,390 $797,080
Sheltair Farmingdale Capital (2 Commitments) $1,802,160 $565,000
Lincoln Building Renovation Phase 2 Capital RC6 $3,369,943 $450,000
Redhouse Arts and Culture Complex Capital $2,117,707 $1,300,000
Vine Health and Fitness DRI Capital $35,132 $270,752
Morse Manufacturing - Building and Equipment $1,597,215 $500,000
Flomatic Plant Expansion Capital $577,085 $554,306
North Country Dairy Capital $1,337,421 $300,000
Currier Plastics Capital (2) $1,734,690 $1,570,000
Willow Rock Brewing Company Capital $372,236 $85,000
Lindsey Aggregates Capital $234,110 $140,000
Strobels Supply Expansion Capital $302,881 $200,000
Thuro Metal Products Capital $1,278,961 $57,000
Seal & Design Capital 2017 $1,858,186 $510,000
A-L Tier II LLC/SIDEARM Capital $7,841,300 $250,000
Oerlikon Metco Capital $366,925 $100,000
Total $8,208,225 $350,000
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ESD Quarterly Report: 2nd Quarter of Fiscal Year 2019-2020 27
▪ For funding awards under $250,000, only the total benefit is provided rather than a full evaluation.
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Project Summary
Benefit-Cost Evaluation1
EJ USA, Inc. – Business Investment Benefit-Costs Evaluations are used in evaluating projects that are categorized as Business Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. For Business Investment projects, benefits reported in the table below typically reflect the impact of both jobs and construction-related activity. For Infrastructure Investment and Economic Growth Investment projects, which generate long-term benefits not captured in the period of analysis and may involve no permanent job commitments, the table typically reflects only construction-related activity. Benchmarks for each type of project are noted in the footnotes.
Initial Jobs: 82 Construction Job Years (Direct): 86 New Jobs: 9 (over five years) Construction Job Years (Indirect): 50
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks2 State & Local Government
Government Benchmarks
Fiscal Costs3 $797,080 $794,250 $797,080 $1,020,500
Fiscal Benefits4 $4,041,390 $2,085,600 $7,048,052 $4,271,980
Fiscal Cost /Direct Job $11,286 $3,000 $11,286 $4,110
Fiscal Cost/Total Jobs $5,149 $1,424 $5,149 $1,964
Fiscal B/C Ratio 5.07 7.00 8.84 10.60
Project Benchmarks
Results
Economic Benefits5 $53,609,918 $119,468,000
Econ. Benefits/Total Jobs $346,304 $147,600
Economic B/C Ratio 67.26 75.00
1 Dollar values are present value calculated over a 7-year period. Separate evaluations are made and reported for New York State government assistance alone and for State and Local government. 2 The current project evaluation results (both fiscal and economic) are compared to performance measure benchmarks based on results of a sample of ESD non-retail projects. Business Investment project benchmarks are 7.00 (Fiscal) and 75.00 (Economic). Infrastructure Investment (or Economic Growth Investment) project benchmarks are 3.00 (Fiscal) and 30.00 (Economic). 3 Fiscal cost includes the value of grants, loans and associated default risks, and discretionary subsidies (such as tax exemptions or abatements on sales, property, and interest income). 4 Fiscal benefits are the loan repayments and tax revenues to New York State and Local governments generated by project activity. This includes estimated taxes on personal incomes from project direct and indirect employment, corporate and business incomes, excise and user taxes, property taxes, and other taxes. 5 Economic benefits are estimated project benefits measuring fiscal flows to government plus net resident disposable income from project direct and indirect employment net of transfers, without adjusting for individual income earners’ opportunity cost of employment.
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Project Summary
Benefit-Cost Evaluation6
Sheltair Farmingdale LLC – Business Investment Benefit-Costs Evaluations are used in evaluating projects that are categorized as Business Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. For Business Investment projects, benefits reported in the table below typically reflect the impact of both jobs and construction-related activity. For Infrastructure Investment and Economic Growth Investment projects, which generate long-term benefits not captured in the period of analysis and may involve no permanent job commitments, the table typically reflects only construction-related activity. Benchmarks for each type of project are noted in the footnotes.
Initial Jobs: 103 Construction Job Years (Direct): 104 New Jobs: 0 Construction Job Years (Indirect): 69
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks7 State & Local Government
Government Benchmarks
Fiscal Costs8 $565,000 $794,250 $565,000 $1,020,500
Fiscal Benefits9 $1,802,160 $2,085,600 $4,849,558 $4,271,980
Fiscal Cost /Direct Job $11,377 $3,000 $11,377 $4,110
Fiscal Cost/Total Jobs $5,681 $1,424 $5,681 $1,964
Fiscal B/C Ratio 5.73 7.00 10.40 10.60
Project Benchmarks
Results
Economic Benefits10 $29,767,107 $119,468,000
Econ. Benefits/Total Jobs $299,308 $147,600
Economic B/C Ratio 52.69 75.00
6 Dollar values are present value calculated over a 7-year period. Separate evaluations are made and reported for New York State government assistance alone and for State and Local government. 7 The current project evaluation results (both fiscal and economic) are compared to performance measure benchmarks based on results of a sample of ESD non-retail projects. Business Investment project benchmarks are 7.00 (Fiscal) and 75.00 (Economic). Infrastructure Investment (or Economic Growth Investment) project benchmarks are 3.00 (Fiscal) and 30.00 (Economic). 8 Fiscal cost includes the value of grants, loans and associated default risks, and discretionary subsidies (such as tax exemptions or abatements on sales, property, and interest income). 9 Fiscal benefits are the loan repayments and tax revenues to New York State and Local governments generated by project activity. This includes estimated taxes on personal incomes from project direct and indirect employment, corporate and business incomes, excise and user taxes, property taxes, and other taxes. 10 Economic benefits are estimated project benefits measuring fiscal flows to government plus net resident disposable income from project direct and indirect employment net of transfers, without adjusting for individual income earners’ opportunity cost of employment.
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Project Summary Benefit-Cost Evaluation11
Doolittle & Hall LLC – Business Investment Benefit-Costs Evaluations are used in evaluating projects that are categorized as Business Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. For Business Investment projects, benefits reported in the table below typically reflect the impact of both jobs and construction-related activity. For Infrastructure Investment and Economic Growth Investment projects, which generate long-term benefits not captured in the period of analysis and may involve no permanent job commitments, the table typically reflects only construction-related activity. Benchmarks for each type of project are noted in the footnotes.
Initial Jobs: 0 Construction Job Years (Direct): 19 New Jobs: 25 in year one Construction Job Years (Indirect): 9
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks12 State & Local Government
Government Benchmarks
Fiscal Costs13 $450,000 $794,250 $450,000 $1,020,500
Fiscal Benefits14 $3,369,943 $2,085,600 $5,942,167 $4,271,980
Fiscal Cost /Direct Job $24,000 $3,000 $24,000 $4,110
Fiscal Cost/Total Jobs $14,640 $1,424 $14,640 $1,964
Fiscal B/C Ratio 7.49 7.00 13.20 10.60
Project Benchmarks
Results
Economic Benefits15 $44,719,300 $119,468,000
Econ. Benefits/Total Jobs $1,454,874 $147,600
Economic B/C Ratio 99.38 75.00
11 Dollar values are present value calculated over a 7-year period. Separate evaluations are made and reported for New York State government assistance alone and for State and Local government. 12 The current project evaluation results (both fiscal and economic) are compared to performance measure benchmarks based on results of a sample of ESD non-retail projects. Business Investment project benchmarks are 7.00 (Fiscal) and 75.00 (Economic). Infrastructure Investment (or Economic Growth Investment) project benchmarks are 3.00 (Fiscal) and 30.00 (Economic). 13 Fiscal cost includes the value of grants, loans and associated default risks, and discretionary subsidies (such as tax exemptions or abatements on sales, property, and interest income). 14 Fiscal benefits are the loan repayments and tax revenues to New York State and Local governments generated by project activity. This includes estimated taxes on personal incomes from project direct and indirect employment, corporate and business incomes, excise and user taxes, property taxes, and other taxes. 15 Economic benefits are estimated project benefits measuring fiscal flows to government plus net resident disposable income from project direct and indirect employment net of transfers, without adjusting for individual income earners’ opportunity cost of employment.
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Project Summary
Benefit-Cost Evaluation16
Redhouse Arts Center – Business Investment Benefit-Costs Evaluations are used in evaluating projects that are categorized as Business Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. For Business Investment projects, benefits reported in the table below typically reflect the impact of both jobs and construction-related activity. For Infrastructure Investment and Economic Growth Investment projects, which generate long-term benefits not captured in the period of analysis and may involve no permanent job commitments, the table typically reflects only construction-related activity. Benchmarks for each type of project are noted in the footnotes.
Initial Jobs: 7 Construction Job Years (Direct): 59 New Jobs: 15 over two years Construction Job Years (Indirect): 35
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks17 State & Local Government
Government Benchmarks
Fiscal Costs18 $1,300,000 $794,250 $1,300,000 $1,020,500
Fiscal Benefits19 $2,117,707 $2,085,600 $3,740,596 $4,271,980
Fiscal Cost /Direct Job $81,432 $3,000 $81,432 $4,110
Fiscal Cost/Total Jobs $72,052 $1,424 $72,052 $1,964
Fiscal B/C Ratio 1.63 7.00 2.88 10.60
Project Benchmarks
Results
Economic Benefits20 $26,749,416 $119,468,000
Econ. Benefits/Total Jobs $1,482,579 $147,600
Economic B/C Ratio 20.58 75.00
16 Dollar values are present value calculated over a 7-year period. Separate evaluations are made and reported for New York State government assistance alone and for State and Local government. 17 The current project evaluation results (both fiscal and economic) are compared to performance measure benchmarks based on results of a sample of ESD non-retail projects. Business Investment project benchmarks are 7.00 (Fiscal) and 75.00 (Economic). Infrastructure Investment (or Economic Growth Investment) project benchmarks are 3.00 (Fiscal) and 30.00 (Economic). 18 Fiscal cost includes the value of grants, loans and associated default risks, and discretionary subsidies (such as tax exemptions or abatements on sales, property, and interest income). 19 Fiscal benefits are the loan repayments and tax revenues to New York State and Local governments generated by project activity. This includes estimated taxes on personal incomes from project direct and indirect employment, corporate and business incomes, excise and user taxes, property taxes, and other taxes. 20 Economic benefits are estimated project benefits measuring fiscal flows to government plus net resident disposable income from project direct and indirect employment net of transfers, without adjusting for individual income earners’ opportunity cost of employment.
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Project Summary
Benefit-Cost Evaluation21
Business Investment Project Vine Health Fitness
The benefits reported in the table reflect only the impact of construction-related activity. Unlike typical ESD projects, infrastructure and economic growth investment projects may involve no permanent job commitments. Such projects generate long term benefits not captured in the period of analysis. This is reflected in the benefit cost estimates as compared to benchmarks developed for infrastructure and economic growth investment projects.
Construction Job Years (Direct): 5 Construction Job Years (Indirect): 3
NYS Govt. State & Local
Evaluation Statistics Project Result Benchmarks for Project Results Government NYS Govt. ESD Projects22 State & Local
Governments Benchmarks for
ESD Projects
Fiscal Costs23 $270,752 $794,250 $270,752 $1,020,500
Fiscal Benefits24 $35,132 $2,085,600 $62,271 $4,271,980 Fiscal B/C Ratio 0.13 7.00 0.23 10.60
Benchmarks Project for ESD Results Projects
Economic Benefits25 $453,287 $119,468,000
Economic B/C Ratio 1.67 75.00
21 Dollar values are present value calculated over a 7-year period. Separate evaluations are made and reported for New York State government assistance alone and for State and Local government. 22 The current project evaluation results (both fiscal and economic) are compared to performance measure benchmarks based on results of a sample of ESD non-retail projects. 23 Fiscal cost includes the value of grants, loans and associated default risks, and discretionary subsidies (such as tax exemptions or abatements on sales, property, and interest income). 24 Fiscal benefits are the loan repayments and tax revenues to New York State and local governments generated by project activity. This includes estimated taxes on personal incomes from project direct and indirect construction employment, corporate and business incomes, excise and user taxes, property taxes, and other taxes. 25 Economic benefits are estimated project benefits measuring loan repayments and all tax revenues generated by the project and collected by state and local governments.
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Project Summary
Benefit-Cost Evaluation26
Morse Manufacturing Company, Inc. – Business Investment Benefit-Costs Evaluations are used in evaluating projects that are categorized as Business Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. For Business Investment projects, benefits reported in the table below typically reflect the impact of both jobs and construction-related activity. For Infrastructure Investment and Economic Growth Investment projects, which generate long-term benefits not captured in the period of analysis and may involve no permanent job commitments, the table typically reflects only construction-related activity. Benchmarks for each type of project are noted in the footnotes.
Initial Jobs: 34 Construction Job Years (Direct): 44 New Jobs: 0 Construction Job Years (Indirect): 26
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks27 State & Local Government
Government Benchmarks
Fiscal Costs28 $500,000 $794,250 $500,000 $1,020,500
Fiscal Benefits29 $1,597,215 $2,085,600 $2,780,265 $4,271,980
Fiscal Cost /Direct Job $18,382 $3,000 $18,382 $4,110
Fiscal Cost/Total Jobs $8,074 $1,424 $8,074 $1,964
Fiscal B/C Ratio 3.19 7.00 5.56 10.60
Project Benchmarks
Results
Economic Benefits30 $21,161,856 $119,468,000
Econ. Benefits/Total Jobs $341,741 $147,600
Economic B/C Ratio 42.32 75.00
26 Dollar values are present value calculated over a 7-year period. Separate evaluations are made and reported for New York State government assistance alone and for State and Local government. 27 The current project evaluation results (both fiscal and economic) are compared to performance measure benchmarks based on results of a sample of ESD non-retail projects. Business Investment project benchmarks are 7.00 (Fiscal) and 75.00 (Economic). Infrastructure Investment (or Economic Growth Investment) project benchmarks are 3.00 (Fiscal) and 30.00 (Economic). 28 Fiscal cost includes the value of grants, loans and associated default risks, and discretionary subsidies (such as tax exemptions or abatements on sales, property, and interest income). 29 Fiscal benefits are the loan repayments and tax revenues to New York State and Local governments generated by project activity. This includes estimated taxes on personal incomes from project direct and indirect employment, corporate and business incomes, excise and user taxes, property taxes, and other taxes. 30 Economic benefits are estimated project benefits measuring fiscal flows to government plus net resident disposable income from project direct and indirect employment net of transfers, without adjusting for individual income earners’ opportunity cost of employment.
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Project Summary Benefit-Cost Evaluation31
Flomatic Corporation – Business Investment Benefit-Costs Evaluations are used in evaluating projects that are categorized as Business Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. For Business Investment projects, benefits reported in the table below typically reflect the impact of both jobs and construction-related activity. For Infrastructure Investment and Economic Growth Investment projects, which generate long-term benefits not captured in the period of analysis and may involve no permanent job commitments, the table typically reflects only construction-related activity. Benchmarks for each type of project are noted in the footnotes.
Initial Jobs: 45 Construction Job Years (Direct): 15 New Jobs: 15 over three years Construction Job Years (Indirect): 11
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks32 State & Local Government
Government Benchmarks
Fiscal Costs33 $554,306 $794,250 $554,306 $1,020,500
Fiscal Benefits34 $577,085 $2,085,600 $970,503 $4,271,980
Fiscal Cost /Direct Job $57,061 $3,000 $57,061 $4,110
Fiscal Cost/Total Jobs $24,068 $1,424 $24,068 $1,964
Fiscal B/C Ratio 1.04 7.00 1.75 10.60
Project Benchmarks
Results
Economic Benefits35 $7,437,101 $119,468,000
Econ. Benefits/Total Jobs $322,917 $147,600
Economic B/C Ratio 13.42 75.00
31 Dollar values are present value calculated over a 7-year period. Separate evaluations are made and reported for New York State government assistance alone and for State and Local government. 32 The current project evaluation results (both fiscal and economic) are compared to performance measure benchmarks based on results of a sample of ESD non-retail projects. Business Investment project benchmarks are 7.00 (Fiscal) and 75.00 (Economic). Infrastructure Investment (or Economic Growth Investment) project benchmarks are 3.00 (Fiscal) and 30.00 (Economic). 33 Fiscal cost includes the value of grants, loans and associated default risks, and discretionary subsidies (such as tax exemptions or abatements on sales, property, and interest income). 34 Fiscal benefits are the loan repayments and tax revenues to New York State and Local governments generated by project activity. This includes estimated taxes on personal incomes from project direct and indirect employment, corporate and business incomes, excise and user taxes, property taxes, and other taxes. 35 Economic benefits are estimated project benefits measuring fiscal flows to government plus net resident disposable income from project direct and indirect employment net of transfers, without adjusting for individual income earners’ opportunity cost of employment.
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Project Summary
Benefit-Cost Evaluation36
North Country Dairy, LLC – Business Investment Benefit-Costs Evaluations are used in evaluating projects that are categorized as Business Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. For Business Investment projects, benefits reported in the table below typically reflect the impact of both jobs and construction-related activity. For Infrastructure Investment and Economic Growth Investment projects, which generate long-term benefits not captured in the period of analysis and may involve no permanent job commitments, the table typically reflects only construction-related activity. Benchmarks for each type of project are noted in the footnotes.
Initial Jobs: 85 Construction Job Years (Direct): 2 New Jobs: 17 over five years Construction Job Years (Indirect): 1
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks37 State & Local Government
Government Benchmarks
Fiscal Costs38 $300,000 $794,250 $300,000 $1,020,500
Fiscal Benefits39 $1,337,421 $2,085,600 $2,303,811 $4,271,980
Fiscal Cost /Direct Job $11,993 $3,000 $11,993 $4,110
Fiscal Cost/Total Jobs $7,602 $1,424 $7,602 $1,964
Fiscal B/C Ratio 4.46 7.00 7.68 10.60
Project Benchmarks
Results
Economic Benefits40 $17,680,689 $119,468,000
Econ. Benefits/Total Jobs $448,043 $147,600
Economic B/C Ratio 58.94 75.00
36 Dollar values are present value calculated over a 7-year period. Separate evaluations are made and reported for New York State government assistance alone and for State and Local government. 37 The current project evaluation results (both fiscal and economic) are compared to performance measure benchmarks based on results of a sample of ESD non-retail projects. Business Investment project benchmarks are 7.00 (Fiscal) and 75.00 (Economic). Infrastructure Investment (or Economic Growth Investment) project benchmarks are 3.00 (Fiscal) and 30.00 (Economic). 38 Fiscal cost includes the value of grants, loans and associated default risks, and discretionary subsidies (such as tax exemptions or abatements on sales, property, and interest income). 39 Fiscal benefits are the loan repayments and tax revenues to New York State and Local governments generated by project activity. This includes estimated taxes on personal incomes from project direct and indirect employment, corporate and business incomes, excise and user taxes, property taxes, and other taxes. 40 Economic benefits are estimated project benefits measuring fiscal flows to government plus net resident disposable income from project direct and indirect employment net of transfers, without adjusting for individual income earners’ opportunity cost of employment.
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Project Summary Benefit-Cost Evaluation41
Currier Plastics, Inc. – Business Investment Benefit-Costs Evaluations are used in evaluating projects that are categorized as Business Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. For Business Investment projects, benefits reported in the table below typically reflect the impact of both jobs and construction-related activity. For Infrastructure Investment and Economic Growth Investment projects, which generate long-term benefits not captured in the period of analysis and may involve no permanent job commitments, the table typically reflects only construction-related activity. Benchmarks for each type of project are noted in the footnotes.
Initial Jobs: 150 Construction Job Years (Direct): 10 New Jobs: 20 over three years Construction Job Years (Indirect): 6
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks42 State & Local Government
Government Benchmarks
Fiscal Costs43 $1,570,000 $794,250 $1,570,000 $1,020,500
Fiscal Benefits44 $1,734,690 $2,085,600 $3,021,422 $4,271,980
Fiscal Cost /Direct Job $61,603 $3,000 $61,603 $4,110
Fiscal Cost/Total Jobs $27,628 $1,424 $27,628 $1,964
Fiscal B/C Ratio 1.10 7.00 1.92 10.60
Project Benchmarks
Results
Economic Benefits45 $22,995,630 $119,468,000
Econ. Benefits/Total Jobs $404,662 $147,600
Economic B/C Ratio 14.65 75.00
41 Dollar values are present value calculated over a 7-year period. Separate evaluations are made and reported for New York State government assistance alone and for State and Local government. 42 The current project evaluation results (both fiscal and economic) are compared to performance measure benchmarks based on results of a sample of ESD non-retail projects. Business Investment project benchmarks are 7.00 (Fiscal) and 75.00 (Economic). Infrastructure Investment (or Economic Growth Investment) project benchmarks are 3.00 (Fiscal) and 30.00 (Economic). 43 Fiscal cost includes the value of grants, loans and associated default risks, and discretionary subsidies (such as tax exemptions or abatements on sales, property, and interest income). 44 Fiscal benefits are the loan repayments and tax revenues to New York State and Local governments generated by project activity. This includes estimated taxes on personal incomes from project direct and indirect employment, corporate and business incomes, excise and user taxes, property taxes, and other taxes. 45 Economic benefits are estimated project benefits measuring fiscal flows to government plus net resident disposable income from project direct and indirect employment net of transfers, without adjusting for individual income earners’ opportunity cost of employment.
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Half in the Bag Brewery, LLC dba. Willow Rock Brewing Company Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $372,236, which exceed the cost to the State.
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Lindsey Aggregates, Inc. Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $234,110, which exceed the cost to the State.
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Strobels Supply, Inc. Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $302,881, which exceed the cost to the State.
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Thuro Metal Products, Inc. Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $1,278,961, which exceed the cost to the State.
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Seal & Design, Inc. Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $1,858,186, which exceed the cost to the State.
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A-LF Holding Company, Inc. (“SIDEARM” or the “Company”) Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $7,481,300, which exceed the cost to the State.
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Oerlikon Metco US Inc. Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $366,925, which exceed the cost to the State.
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