Empire State Development

With new HQ looming, Amazon adds 2K in NYC

By GREGORY ZELLER // Long Island may (kinda) still be in the running for Amazon.com Inc.’s ballyhooed second headquarters, but new administrative digs for the e-commerce titan – and thousands of good-paying jobs – have landed slightly west. Governor Andrew Cuomo on Thursday announced that Amazon will expand its New York City presence with a new office at 5 Manhattan West. Jeff Bezos’ 1994 startup is slated to invest $55 million bringing the 359,000-square-foot space up to…


Albany rings bell for Restore NY, round five

Hempstead will host an informational meeting for Long Island municipalities craving a slice of Gov. Andrew Cuomo’s latest competitive-funding pie. With $80 million up for grabs in Round 5 of the Restore NY Communities Initiative, the Empire State Development Corp. – Albany’s main economic-development engine – has scheduled three workshops around the state to educate would-be applicants on the urban-revitalization program. All three informational workshops, including a Sept. 29 meeting at Hofstra University, are scheduled…


Developers jockey for position after Belmont RFP

By GREGORY ZELLER // Like a bugle call summoning the field to the starting gate, New York State is beckoning developers to Belmont Park. Trumpeting “an exciting and much-anticipated development opportunity on Long Island,” Empire State Development President and CEO Howard Zemsky on Monday issued a Request for Proposals for the redevelopment of property within the hallowed racetrack’s grounds, located in the “census designated place” Elmont, within the Town of Hempstead. Two parcels totaling roughly…


State to fund $75M med research center at SBU

Stony Brook University has been awarded a $75 million state grant to build a center to develop and commercialize medical devices and treatments. The 70,000-square-foot building, to be called I-DIME, for the Institute for Discovery and Innovation in Medicine & Engineering, will be built adjacent to university’s wireless technology and advanced energy centers. It is expected to open in 2021. The center was approved unanimously by the board of Empire State Development on Thursday. Judith…


Dealertrack celebrates new $100 million HQ

Software maker Dealertrack has unofficially opened its new $100 million corporate headquarters. The developer of software solutions for the automotive retail market won’t actually move in employees until early July, but Dealertrack marked the opening of the LEED-specified, 230,000-square-foot North Hills facility on Wednesday. The new headquarters will house nearly 600 employees, the company said, with plans to add as many as 350 more. And that growth will happen exclusively on Long Island, with company…


Brain drain? Put a cork in it

By GREGORY ZELLER // Don’t whine when you can wine. That was one of the big ideas Wednesday, when a select group of educators, hospitality professionals and economic-development experts – each with a particular interest in addressing Long Island’s infamous “brain drain” – toured several East End winemaking facilities. Arranged by the Long Island regional office of the Workforce Development Institute, the field trip was designed to help insiders understand the workforce needs and career…


With $800 million at stake, let the games begin

It’s on: Governor Andrew Cuomo on Tuesday officially opened the seventh round of the annual Regional Economic Development Council competition, a statewide funding contest in which each of the state’s 10 economic-development zones wins, but some win more. This year, the 10 REDCs will be combing through individual project pitches and preparing master proposals for their slice of the chunkiest state pie yet: more than $800 million in economic-development resources, including grants, tax breaks and…


Promises made, promises kept in Brentwood

By GREGORY ZELLER // With new equipment and a pending real-estate deal, a Brentwood business is making good on its commitments to Empire State Development, Albany’s main economic-development engine. Nearly four years after Gov. Andrew Cuomo announced that manufacturer Thuro Metal Products Inc. would receive $200,000 in Excelsior Jobs Program performance-based tax credits, it’s payback time. The company said this week it has acquired two state-of-the-art Computer Numerical Controlled metal-fabrication machines that will help it…


Albany’s $35M offer keeps Nature’s Bounty Co. on LI

A leading global wellness company is dramatically expanding its Long Island operations. The Nature’s Bounty Co. will create 157 new jobs – and retain 2,042 existing jobs, counting all 11 of its Long Island facilities – while investing more than $142 million to “modernize and expand” its Island operations, according to a statement from Empire State Development, Albany’s lead economic-development agency. The company, which is headquartered in Ronkonkoma, will be relocating operations from California and…


Fasciano fund ‘recklessly misused’ fed investment

Canrock Ventures, the venture capital firm founded by onetime tech wunderkind Mark Fasciano, “recklessly misused” $1.6 million in federal funds by investing the money in startups in its own portfolio, a lengthy U.S. Treasury Department audit has concluded. The federal program dates back to 2012, when Washington awarded $55.4 million to New York under the State Small Business Credit Initiative program, which was designed to spur the growth of technology companies following the recession. New…


The end is nigh for sputtering Start-Up NY

By GREGORY ZELLER // While several components of Gov. Andrew Cuomo’s proposed FY2018 budget will probably meet resistance in Albany’s corridors of power, at least one is likely to sail straight to legislative approval: the end of the Start-Up NY program. While not officially terminating Empire State Development’s underachieving economic-development effort, the governor’s spending plan purposefully rebrands it: Say hello to the Excelsior Business Program (but make it quick, because phonetic similarities to the existing…


Feds STEP up for smaller New York exporters

Empire State Development will use a federal grant to pump up Global NY, the international division of Albany’s main economic-development engine. The U.S. Small Business Administration has awarded ESD a State Trade Expansion Program grant to support the growth of New York-based exports in markets around the world. The $602,115 stipend, announced in late October, marks the fifth straight year New York State has won a competitive STEP grant. While the numbers aren’t huge –…


Best Market, Albany cooking up LI ‘food hub’

Regional grocery chain Best Market will take over about one-third of the former Entenmann’s facility in Bay Shore, Gov. Andrew Cuomo announced Tuesday, the first step in the establishment of a new Long Island “food hub.” The privately held, family-owned company – which started with small fruit-and-vegetable stores in Brooklyn and now manages 30 supermarkets in New York, Connecticut and New Jersey, including its newest in Islip – will consolidate distribution operations and its corporate…


Hofstra, SCCC land entrepreneur training funds

Hofstra University and Suffolk Community College are in line for grants of about $81,000 each to help local entrepreneurs write business plans, attract financing and develop markets. The money comes from Empire State Development’s Entrepreneurship Assistance Program, which also helps women-owned businesses seeking contracts from government agencies and assists veterans looking to start their own firms. Hofstra and SCCC plan to use the funds to pay counselors during the 2016-2017 school year.


Government, here to help small business

The world is coming to Bethpage. At least, the Global NY Fund is coming to Bethpage – specifically, to the Long Island Forum for Technology’s Morrelly Homeland Security Center in West Bethpage, where fund representatives will discuss Empire State Development loan and grant programs designed to help small and medium-sized businesses make hay overseas. The forum, scheduled to begin at 8:30 a.m. Monday, highlights the $35 million Global NY Fund, which offers grants up to…