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ESD: Nearly $15 million in Market New York funding awarded to support tourism statewide


Wed, Nov 30th 2022 09:55 pm

Grants awarded through REDC initiative to 69 capital and working capital projects across NYS

√ Full list of REDC awardees thus far can be found here 

Empire State Development announced nearly $15 million has been awarded through the Market New York program to support 69 projects across New York state through the Regional Economic Development Council initiative.

Market New York funding supports tourism facility capital improvement projects and regionally themed marketing projects that promote travel destinations, attractions and special events. The program and projects supported through its funding align with each region's long-term strategic plans for economic growth.

"The projects represented by these Market New York awards illustrate the breadth and beauty of New York state’s many arts, cultural and visitor attractions," said Lt. Gov. Antonio Delgado, chair of the Regional Economic Development Councils. "This program ensures that New York state's tourism offerings across our remarkable regions continue to reflect the diverse and unique interests of residents and visitors alike."

ESD President, CEO and Commissioner Hope Knight said, "Tourism is vital to our communities; it showcases the best of New York state, and visitor spending supports small businesses, jobs and regional economies. Market New York funding helps to ensure that the state's tourism partners can reach new markets and audiences, and enables destinations to upgrade, grow and expand to encourage sustainable economic growth."

ESD Vice President and Executive Director of Tourism Ross D. Levi said, "Beyond serving as New York's destination marketing organization, Empire State Development and the Division of Tourism support the state’s vital tourism industry through initiatives like tourism job fairs, educational programming, and funding opportunities like Market New York. The projects awarded Market New York grants will help give travelers even more reasons to come be a part of all there is to love in New York state all year long."

A press release said, “The tourism and hospitality sector is a pillar of New York's economy; it is the state's third-largest industry, supporting one in 11 private sector jobs. Visitation in New York state sustains an economic impact of $85.5 billion and generates enough in state and local taxes to save every household in the state more than $1,000 annually. Coupled with New York's engaging marketing campaigns and Gov. Kathy Hochul's record-setting post-pandemic industry support programs, projects awarded funding through Market New York help to promote the state diverse regions as world-class travel destinations, sparking economic growth and creating jobs.”

Awardees include The Aquarium of Niagara ($900,000 capital grant, $100,000 working capital grant). It will use the tourism capital grant to fund a portion of the construction costs to open a new cultural attraction in the Niagara Gorge Discovery Center. The marketing funds will be used to directly appeal to visitors through a regionally based, multipronged advertising campaign.

To further support the state's tourism industry, ESD continues to accept applications for the “Meet in New York” and the “Tourism Return-to-Work” programs. The” Meet in New York” grant program was established to encourage the return of conferences, meetings and trade shows by covering a portion of event-based discounts; more information is available here. The “Tourism Return-to-Work” program provides financial assistance to tourism industry businesses that create jobs previously lost due to COVID-19 pandemic economic hardship. More information, including the program application, is available here.

Learn more about the CFA here.

The Regional Economic Development Council initiative is a key component of the state’s approach to state investment and economic development. Learn more at regionalcouncils.ny.gov.

Visit www.iloveny.com.

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