NY-BEST`s Capture the Energy Conference

NY-BEST’s Capture the Energy Conference
An Overview of Empire State Development Assistance
Presented by: Brenda Grober, Director of Industry Development
Andrew M. Cuomo, New York State Governor
Howard Zemsky, Empire State Development President & CEO
3/16/2015
What is Empire State Development?
• The Department of
Economic Development
(DED)
• Empire State
Development Corp.
(ESDC)
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ESD Regional Offices
• ESD co-headquarters
in New York City,
Buffalo and Albany
• 10 ESD regions with
regional offices across
New York State
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How ESD Helps Business
• Drives economic development by supporting existing
businesses and attracting new businesses resulting in jobs
and investment
• Partners with public and private sectors
• Helps foster innovation
• Assists companies to grow and compete in the global
economy
• Helps businesses connect to federal, state, local and
sometimes private resources
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NYSTAR’s Role: Advancing the
Innovation Economy
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Help existing and new businesses
become more competitive through use of
innovative technologies.
Strengthen the research and technology
capabilities of our colleges and
universities.
Leverage our technology strengths to
produce new products and expanded job
opportunities.
Increase academic and business
technology partnerships throughout the
state.
Excite our youth about careers in science
& technology
NYSTAR’s Resources
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Centers of Excellence: Ten centers through major upgrades of research facilities and capital
projects. In total, the initiative is expected to leverage new private sector & other contributions of
more than $1 billion.
Centers for Advanced Technology: 15 statewide university-based applied R&D centers in specific
technology areas work with industry to solve production and product development challenges.
Regional Technology Development Centers: Ten regional centers provide targeted services that
enhance business competitiveness.
FuzeHub: A sourcing and connection service for NY manufacturers. It is a single point of access
for manufacturing companies looking for help and resources (www.fuzehub.com).
Technology Transfer Incentive Program: Helps businesses make the rapid transfer of new ideas
and new technology from lab to market.
Business Incubator & Innovation Hot Spot Program: Up to 20 business incubators statewide, and
another 10 Hot Spot incubators, one in each region.
Contact: John Gee, (518) 292-5706 or John.gee@esd.ny.gov
NYS Funded Research Centers
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Business Incubator & Innovation Hot Spot Program
Enhanced services for companies transitioning from start-up to commercial scale
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Business Incubators
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Competitively bid
20 total; $125,000 to get started
Located across all regions
Represent many industry clusters
Can transition into START-UP NY
Contact: Mike Ridley at
Michael.Ridley@esd.ny.gov or
(518) 292-5707
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Innovation Hot Spot Incubators
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Competitively bid
10 total; $250,000 to get started
One per region
Facility mission supports REDC
goals
– Special tax benefits
– Can transition into START-UP NY
NYS Innovation Venture Capital
Fund
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The NYSIVC Fund is a seed stage and early stage venture capital fund to support and
attract new high-growth technology businesses. It’s comprised of two segments:
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The Technology Commercialization Segment is designed to facilitate the commercialization
of new technologies out of NY State’s universities, attract private sector investment in new
research, and launch new businesses with investments of up to $100,000.
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The Seed and Early Stage Co-Investment Segment will invest directly in companies with
an emphasis on strategic industries such as information technology, life sciences/biotech,
and relatively underserved areas of the state with investments up $5 million.
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Contact: Clayton Besch, (518) 292-5741 or clayton.besch@esd.ny.gov
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Business Assistance
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ESD Regional Offices are experts in the benefits and opportunities available locally,
bringing a full range of resources and information to the table to enhance the success of a
venture.
The Strategic Business Division works with high value-added industry clusters and key
accounts, and gives major employers considering multiple sites in NYS a “big picture” view.
The International Division runs Trade Missions and maintains foreign offices to increase
export opportunities, as well as attract direct foreign investment.
The Small Business Division gives fledgling enterprises the special attention they need to
gain a strong foundation, flourish and grow.
The Minority & Women-Owned Business Division helps assure the success of businesses
owned and operated by MWBEs.
Goals & Priorities
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Attract and support high value-added jobs in
traditional, high-tech and emerging sectors
Diversify regional and local economies by
attracting desired employers and new industries
Help existing companies improve their
productivity and competitiveness by
modernizing and upgrading operations
Open up export opportunities for companies
and connect them with new customers,
suppliers and investors worldwide
Expand access to public and private sources of
capital
Financial Incentive Programs
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Loans & Grants
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Economic Development Fund
Small Business Revolving Loan
JDA Loan
Consolidated Funding Application
Tax Incentives
– Excelsior Jobs Program
– START-UP NY
– Investment Tax Credit
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Financing & Technical Assistance
– Linked Deposit Program
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Other Programs and Services
• Within ESD
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Business Mentor NY
Global NY
CDFI
Zoom Prospector
Build-Now Shovel Ready
Taste NY (with Ag&Mkts)
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Other Partners
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NYS Dept. of Labor
NYS Dept. of Taxation & Finance
NYSERDA
NYS Agriculture & Markets
New York Power Authority
NY Investor-owned utilities
NYS Homes & Community Renewal
Local EDCs and IDAs
Any Questions?
Brenda Grober, Director of Industry Development
Strategic Business Division
625 Broadway, 8th floor
Albany, NY 12245
(518) 392-5342
Brenda.grober@esd.ny.gov
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