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$40 million awarded across state through Fast NY program to develop shovel-ready sites


Tue, Aug 15th 2023 12:00 pm

Hochul: First round of awards will create jobs, help attract & expand key state growth industries

Gov. Kathy Hochul announced $39.6 million was awarded for seven locations under the Focused Attraction of Shovel-Ready Tracts New York (FAST NY) grant program.

First announced in February 2022, the program is designed to prepare and develop sites across the state to jumpstart New York’s shovel-readiness and increase its attractiveness to large employers and high-tech manufacturing companies. The program, administered by Empire State Development, aims to help diversify New York state’s economy while propelling new investments for businesses, communities, and job creation.

“With our highly skilled workforce and commitment to emerging industries, New York is ready to welcome companies to our state while supporting those who have already invested in our communities,” Hochul said. “This funding from the FAST NY program will prepare seven shovel-ready sites around the state that will one day house the industries of the future – from renewable energy to high-tech manufacturing. Through investments like this, New York state is attracting elite companies that will create good jobs and power our local economies for generations to come.”

Empire State Development President, CEO and Commissioner Hope Knight said, "We know that having a prepared and ready-to-build location was one of the many reasons why companies like Wolfspeed, Micron and fairlife chose to build and grow in New York state. Fast NY is creating more locations for industries to choose from, and making New York state a top destination for relocation and expansion."

Local first round FAST NY Awardees:

•Buffalo and Erie County Industrial Land Development Corp. (ILDC) – $4.75 million: This project will expand the Renaissance Commerce Park by supporting construction activities to relocate and expand a 100-year-old freight rail yard, located at the former Bethlehem Steel site. A press release stated, “This will help to drive economic growth from currently underutilized land through private investment and job creation. The unique assets this site offers makes it attractive for industrial expansion.” Total project cost is $6.8 million.

•Town of Lockport IDA – $63,750: The press release stated, “This award for IDA Park South expands the existing 120-acre Industrial Park by an additional 91 acres, meeting the regional demand for targeted industries that currently does not exist. Additionally, this site neighbors a proposed 60-acre industrial park, creating an attractive industrial corridor for the area. Total project cost is $127,500.”

FAST NY funding through ESD awards grants for pre-development activities and infrastructure investments to develop sites to attract eligible industries including high-tech manufacturing, clean-tech renewable energy, life sciences, agribusiness, optics, transportation equipment, materials processing, industrial machinery manufacturing and other advanced manufacturing. These sites can also be used for interstate distribution and logistics.

The press release added, “Through FAST NY, ESD can award a ‘FAST NY Shovel-Ready Certification’ for sites that meet high standards of shovel readiness, to support and enhance their marketing efforts to attract more industries.”

For more information, or to apply for a FAST NY grant, visit https://esd.ny.gov/fast-ny.

New York State Economic Development Council Executive Director Ryan M Silva said, “New York state's continued economic growth will be accelerated by investing in market/shovel-ready site development. These projects will allow communities to be proactive in attracting new industries by offering predictability, and shortening time to market for businesses seeking to invest and grow in New York. Today’s announcement also validates the critical role industrial development agencies (IDAs) play in developing our economy, creating jobs, and fostering public-private partnerships that help create economic prosperity for all New Yorkers.”

New York State Sen. Sean Ryan said, "As chair of the Senate Committee on Commerce, Economic Development, and Small Business, I am laser-focused on smart ideas to attract businesses that create family-sustaining, long-term jobs. By investing in shovel-ready sites that revitalize our existing infrastructure, FAST NY is attracting high-tech manufacturing companies that will bring stable jobs to communities across New York. It is the exact type of future-focused investment that should make up a prominent part of our state's economic development playbook."

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