New York State Economic Development

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New York StateEconomic Development
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The best place in the world to live, work, raise
a family and grow a business
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Downstate 14 counties, 69 of NYSs population
Upstate 48 counties, more than 40,000 sq. miles
Population figure calculated from 2006 U.S.
Census estimates
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New York Conundrum (1990-2004)

• Downstate
• Leading center of banking, finance and
  communications in the U.S.
• Demographers estimate that there will be 9.4
  million people in NYC by 2025 (8.1 million people
  in 2004)
• New York City has more Fortune 500 companies than
  any other U.S. city (44)
• Total personal income from 2000-2005 increased
  16 in the 14 county downstate region
• Upstate
• Lost 33 of its manufacturing base (more than any
  other state in the nation)
• 25 reduction of its young people aged 20 to 34
• Population grew slower than all but two states
  (decline in Buffalo 14, Rochester 8)

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• The Old ESD
• NYC headquarters/decision making
• Regional offices as reactive outposts
• Large project, big business focus
• No small business programs
• Lack of international focus

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• Four Pillar Strategy
• Reduce the Cost of Doing Business
• Develop the Innovation Economy
• Regional/Community-Based Development
• Improve Infrastructure

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2008-09 Executive Budget Special Emphasis

• Downstate
• Housing Opportunity Fund
• Downstate Revitalization Fund
• Commuter Transportation Improvements
• Waterfront Access and Opportunities
• Upstate
• Upstate Regional Blueprint Fund
• City-by-City Initiatives
• Housing Opportunity Fund
• Agribusiness Fund

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RevitalizingUpstate New York
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1B Upstate Revitalization Fund
Proposal Targeted investments to stimulate
growth and generate high-quality jobs to support
infrastructure and other investments
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Revitalizing the Upstate Economy
50 M Upstate Agribusiness Fund 80 M Upstate
Parks Restoration 30 M Intercity Rail
Improvements
1 Billion Upstate Revitalization Fund
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350 M Regional Blueprint Fund
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III
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100 M Preservation of Upstate Bridges 100 M
Upstate Housing Community Revitalization
115 - City-by-City Projects 175 M - Other
Initiatives
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• I. 350M Regional Blueprint Fund
• Continue momentum from the Regional Blueprint
  Meetings summer/fall 2007
• Creates initiatives for.
• Innovation (incubators, investments in
  universities, funding to assist companies expand
  RD facilities, lab space)
• Investment (tourism development, new small
  business loan programs)

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• I. 350M RBF (cont.)
• Infrastructure
• Construction of development-ready
  sites/industrial parks, bringing existing sites
  up to standard
• Specifically, the proposal includes funding for
• Water, sewer and drainage systems
• Clearing and site development costs
• Planning and engineering
• Access roads and other infrastructure
  improvements
• Stimulate private investment in contaminated
  vacant buildings

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II. 115M City-by-City Projects

• City-by-City initiatives throughout our urban
  areas
• Second round of City by City, especially focused
  on smaller cities

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II. 175M Other Initiatives

• Invest in Upstate from other statewide programs,
  including
• New Investment Opportunity Fund (100 million)
• New arts and cultural program (12 million)
• Expanding Universal Broadband (7 million)
• New business marketing program targeting Upstate
  (3.5 million)
• Venture capital investments (3 million7M)
• Enhancements to existing State programs
  supporting the development of high technology
  (12 million)
• Other Empire State Development Corporation job
  and investment programs (38 million)

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III. Bridges and Upstate Housing and Community
Revitalization

• Bridge Safety
• 100 million in new funding for State and local
  bridge preservation
• Housing Opportunity Fund
• 100 million dedicated to the development and
  rehabilitation of affordable, supportive and
  workforce housing initiatives across Upstate

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IV. Agribusiness, Parks and Rails

• 50M Upstate Agribusiness Fund
• Continued growth of the food and agricultural
  industry
• Alternative fuel products
• Access to markets
• Investments in farm and agriculture
  infrastructure
• Hire states first Director of Ag-Business
  Development
• Connects Upstate growers with Downstate consumers
  
• Support for agriculture research at institution

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IV. Agribusiness, Parks and Rails

• 80M Upstate Parks Restoration
• Preservation and development of parks and
  recreational facilities to help draw tourists and
  new residents to the state
• 30M Intercity Rail Improvements
• Improve speed and reliability of rail connections
  between Upstate and New York City

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Next Steps

• Budget process
• Brownfield legislation
• Power for Jobs
• Empire Zone legislation

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Contact ESD

• Western New York Regional Office
• Christina Orsi
• Regional Director
• 716-856-8111
• corsi_at_empire.state.ny.us
• Web
• www.nylovesbiz.com