ESD grants focus on fiber optic, energy and biotech projects
A range of grants were announced today by the Board of the Empire State Development Agency after a meeting in New York City by its Board of Directors. The ESD says that the funding of just under $25 million will result in $116.5 million in additional investments.
By its own estimation, the funds will create 236 new jobs and support the retention of 784 current positions.
The range of projects across the state include support for the installation of roads and infrastructure, expansion of research and manufacturing facilities and community housing.
Over $5.8 million will be invested in the expansion of the fiber optic network in rural New York including the north country counties of St. Lawrence and Franklin.
Close to $4 million will be used to support research on energy efficiency and storage through expansions at the New York Energy Regional Innovation Cluster and at the GE Global Research Facility.
The largest single grant of $5 million is earmarked for a loop road in the Mohawk Valley region to help attract a major producer of semiconductors.
The smallest amount, $300,000, goes to foam cleaning products manufacturer, Times Release Sciences, Inc. located in Buffalo.