New York State: Where Tomorrow Starts Today
30 Oct, 2017By: Trade & Industry Development
In New York State, tomorrow starts today. Thanks to a talented and diverse workforce, historic improvements in infrastructure, unique and competitive business incentives and an unparalleled quality of life, companies are starting in New York, moving to New York and thriving in New York.
New York is home to many of the nation’s Fortune 500 companies’ headquarters, top-tier public and private universities and unique industry-university and public-private partnerships that drive innovation in key, high-growth industries. The State is investing $100 billion to modernize infrastructure and transportation across the state – including airports, bridges, regional transportation systems, and more – to build the new New York. It’s also investing $1.5 billion in economic development across its upstate region, as part of the Upstate Revitalization Initiative, in support of its overall approach to revitalizing cities and downtowns, making them more attractive to young people, residents and businesses.
New York State successfully attracts companies to start or grow their businesses by offering tax-based incentives, resources and training and growth support, including loans, grants and venture capital. Workforce development opens the doors for New Yorkers to education and jobs, and builds the labor force to support companies around the state. Throughout New York State, through partnerships with colleges and universities, it is establishing training centers to prepare workers for jobs in advanced manufacturing, cybersecurity and unmanned aerial systems, robotics, 3-D printing and healthcare fields. With the addition of more than one million private sector jobs since 2011, the lowest unemployment and tax rates in decades — and abundant art, culture and natural beauty — New York State offers unparalleled quality of life in a state full of opportunities.
In January 2015, Governor Andrew Cuomo announced the Upstate Revitalization Initiative (URI) competition to strategically focus on the Upstate economy, as part of an ongoing emphasis on long-term, regionally based plans for economic growth through the State’s 10 Regional Economic Development Councils (REDCs). The community-based, bottom-up approach has changed the way New York invests state resources, involving local experts and stakeholders in identifying economic challenges and opportunities in their regions and formulating comprehensive plans to address them. The projects outlined in those plans, blueprints to generate economic growth and community development, are creating new opportunities across Upstate New York. Highlights from several Upstate regions provide a vibrant snapshot of New York State industry growth and attraction.
Central New York is on the rise, and becoming a nationally recognized hub for the burgeoning Unmanned Aerial Systems (UAS) industry, with investments including a 50-mile innovation corridor stretching from Central New York to the Mohawk Valley that will support a new UAS Traffic Management System and state-of-the-art testing facilities. This burgeoning industry is establishing the Central New York region as a leader in UAS and drone technology. And GENIUS NY, a year-long business competition for unmanned systems with a top prize of $1 million, is incubating next-gen UAS ideas and advancements from its Syracuse base. Central New York’s tech strengths are reflected in this year’s announcement by Saab North America, Inc. – a multi-national military defense and civil security company – to relocate the North American headquarters of its subsidiary, Saab Defense and Security USA, LLC, to East Syracuse, in Onondaga County. The move brings nearly 260 new high-tech jobs and retains more than 450. The region’s diverse economy also includes agribusiness, biomedical, cleantech, healthcare and insurance and financial services, along with emerging segments including bioprocessing and medical devices. Companies like INFICON, creating air quality monitoring devices, are part of the region’s advanced manufacturing sector. And New York State’s booming craft beverage industry is also well represented by businesses such as the Good Nature Farm Brewery, one of New York State’s first farm breweries, that has opened in Madison County with a 14,000-square-foot facility that serves as home to its headquarters, tap room and restaurant and production operations.
The Finger Lakes region is further advancing its industry leadership role in optics, photonics and imaging, as well as advanced manufacturing, technology and R&D. Businesses have a unique opportunity to collaborate with the region’s renowned colleges and universities, including Rochester Institute of Technology (RIT) and the University of Rochester, in partnerships that spur economic growth, promote workforce development and increase the competitiveness of New York companies in the global marketplace. State support contributed to the 2016 opening of the AMPrint Center — one of 15 state Centers for Advanced Technology supported by Empire State Development’s Division of Science, Technology and Innovation (NYSTAR) — on RIT’s Henrietta campus. The new research center is developing state-of the-art 3-D printing technology that will help to transform the way many products are manufactured. Rochester has also become a hub for both advanced and clean manufacturing. Rochester’s Eastman Business Park is developing an ecosystem of innovation that includes AIM Photonics and others. And metalworking company McAlpin Industries, headquartered in Rochester, has chosen to open a second manufacturing plant in Wayne County. The region’s abundant resources and industry strengths continue to make it a top choice for a variety of innovative and high-tech companies, creating new jobs and accelerating the Finger Lakes forward.
The Southern Tier’s strategic location, and abundant academic and natural resources, offer businesses a dynamic and affordable place to grow. The region is home to top universities including Cornell, SUNY Binghamton and Ithaca College, and is investing heavily in its advanced manufacturing sector, driving innovation and attracting top-notch talent. Last year the State announced $2.8 million in support of a renewable energy research and development facility at Binghamton University that will help promote energy efficiency, collaboration with other SUNY campuses and offer student research and workforce training opportunities for tomorrow’s clean energy experts. The 76West business competition is also supporting and growing clean energy startups. Six winners receive $20 million total – including a $1 million grand prize – to develop their technologies in the Southern Tier, ultimately creating high-tech jobs. The Southern Tier is home to innovation in transportation, investing $30 million to support the expansion of Alstom Transportation, Inc., which is producing the next generation of high-speed trains for Amtrak. The expansion means retention of more than 1,000 jobs and creation of nearly 200 jobs in Steuben County. The region’s leadership in advanced manufacturing was recognized last year when Binghamton University, with NYS industry partners, was selected as home to the New York node in the new NextFlex Flexible Hybrid Electronics Manufacturing Innovation Institute, part of the National Network for Manufacturing Innovation program — advancing flexible hybrid electronics manufacturing and jobs.
New York State continues to invest in the future, creating opportunities through business expansion and attraction while supporting the growth of cutting-edge ideas and entrepreneurship. Through competitive incentives and through strategic investments that build on its resources and talent, New York State is meeting the growing demand for the innovative companies, high-tech jobs and skilled workforce of tomorrow. T&ID
Source: Empire State Development (EDC) is New York State’s chief economic development agency. ESD’s goal is to promote a vigorous and growing state economy, encourage business investment and job creation, and support diverse, prosperous local economies across New York State through the efficient use of loans, grants, tax credits, real estate development, marketing and other forms of assistance. To find out more, visit www.esd.ny.gov.