Voice of Business Blog

Governor Kathy Hochul today announced that $39.6 million has been awarded for seven locations under the Focused Attraction of Shovel-Ready Tracts New York (FAST NY) grant program. First announced in February 2022, the program is designed to prepare and develop sites across the state to jumpstart New York’s shovel-readiness and increase its attractiveness to large employers and high-tech manufacturing companies. The program, administered by Empire State Development, will help diversify New York State’s economy while propelling new investments for businesses, communities, and job creation.

“With our highly skilled workforce and commitment to emerging industries, New York is ready to welcome companies to our state while supporting those who have already invested in our communities,” Governor Hochul said. “This funding from the FAST NY program will prepare seven shovel-ready sites around the state that will one day house the industries of the future – from renewable energy to high-tech manufacturing. Through investments like this, New York State is attracting elite companies that will create good jobs and power our local economies for generations to come.”

Empire State Development President, CEO and Commissioner Hope Knight said, "We know that having a prepared and ready-to-build location was one of the many reasons why companies like Wolfspeed, Micron and fairlife chose to build and grow in New York State.  Fast NY is creating more locations for industries to chose from and making New York State a top destination for relocation and expansion."

Monroe County is set to receive a significant boost, with an allocation of $20 million for Monroe County's IDA (COMIDA) site at 1900 Tebor Road in Webster. This infusion of funds will enable the upgrade of the existing electrical infrastructure, further enhancing the region's appeal to agribusiness and industrial machinery manufacturing sectors. Total project cost is $27 million.

Other first round FAST NY Awardees:

• Oneida County Industrial Development Agency (Mohawk Valley Edge) – $14 million: The Marcy NanoCenter provides a fully permitted, shovel-ready greenfield site on an already established campus. An area has been reserved to build a semiconductor supply-chain campus, which is in high demand due to the established Wolfspeed fab and the recently announced Micron facility, and will serve regional and on-site high-tech companies. FAST NY funding will continue to develop the site and support preparation, excavation and utility infrastructure work. Total project cost: $18 million

• Buffalo and Erie County Industrial Land Development Corporation (ILDC) – $4.75 million: This project will expand the Renaissance Commerce Park by supporting construction activities to relocate and expand a 100-year-old freight rail yard, located at the former Bethlehem Steel site. This will help to drive economic growth from currently underutilized land through private investment and job creation. The unique assets this site offers makes it attractive for industrial expansion. Total project cost: $6.8 million

• Broome County IDA/LDC (The Agency) – $500,000: This project will create a new 300-acre sustainability-focused corporate park designed to attract advanced electronics and semiconductor manufacturers, test packaging and related supply chain companies, life sciences, and agricultural processing. There is the potential for an additional 300 acres to be acquired at this site, resulting in a new 600-acre corporate park. Market studies have already determined potential opportunities for the park, which include several industry clusters eligible for FAST NY grant funding. Total project cost - $1 million

• Onondaga County IDA – $325,000: This award is for the 104-acre Caughdenoy Industrial Park (White Pine South). With Micron’s selection of White Pine Commerce Park for a chip manufacturing site, this site provides a prime location to attract Tier I supply chain companies. The goal is to facilitate the creation of a supply chain campus – including warehouses, manufacturing plants and research and development centers – to support Micron. Total project cost: $650,000

• Town of Lockport IDA – $63,750: This award for IDA Park South expands the existing 120-acre Industrial Park by an additional 91 acres, meeting the regional demand for targeted industries that currently does not exist. Additionally, this site neighbors a proposed 60-acre industrial park, creating an attractive industrial corridor for the area. Total project cost: $127,500

• Village of Painted Post – $36,000: The West Water Street site provides regional significance with 45 acres of developable land and close proximity to major highways, allowing for easy integration into the regional advanced manufacturing cluster and the potential to be a key semiconductor industry supply chain location. The project will help to prepare the site for a future developer by allowing for predevelopment work to determine the site's best use. A site survey, traffic study, site plan and design, zoning revision and environmental concerns will be addressed, supporting streamlined approval process. Total Project Cost: $120,000

FAST NY funding through ESD awards grants for pre-development activities and infrastructure investments to develop sites that will attract many eligible industries —including high-tech manufacturing, clean-tech renewable energy, life sciences, agribusiness, optics, transportation equipment, materials processing, industrial machinery manufacturing and other advanced manufacturing. These sites can also be used for interstate distribution and logistics. Through FAST NY, ESD can award a “FAST NY Shovel-Ready Certification” for sites that meet high standards of shovel readiness, to support and enhance their marketing efforts to attract more industries.

For more information, or to apply for a FAST NY grant, visit https://esd.ny.gov/fast-ny.