Empire State Development (ESD) today announced more than $7 million in grants awarded to improve three locations under the Focused Attraction of Shovel-Ready Tracts New York (FAST NY) program. First announced by Governor Kathy Hochul in February 2022, FAST NY is administered by ESD and designed to prepare and develop sites that further advance New York’s shovel-readiness and increase its attractiveness to large employers and high-tech manufacturing companies. To date, FAST NY has awarded more than $333 million to 41 sites across Upstate New York, supporting efforts at nearly 8,800 acres — including infrastructure improvements at 4,775 developable acres.
“Through our FAST-NY program, we’re investing to help communities across the state prepare shovel-ready sites that attract new businesses and good paying jobs,” Governor Hochul said. “When we empower local leaders with the tools they need to compete, we are building a stronger and more vibrant economy for every region of New York.”
ESD President, CEO and Commissioner Hope Knight said, “Under Governor Hochul’s leadership, New York State continues to build for the future by making strategic investments to establish and advance shovel-ready sites needed to secure commitments from high-growth industries. The three sites awarded funding in this round represent the latest in our collaborative efforts with local economic development partners to further grow a high-tech ecosystem with modern infrastructure.”
Round 8 Awardees:
- Schenectady County Metroplex Development Authority – $6 million: This infrastructure improvement project will allow for the redevelopment of 194 acres in Niskayuna into an advanced R&D hub for energy technologies. Funds will facilitate water supply upgrades, stormwater management upgrades and a campus connector road. This energy technology research campus will be anchored by the GE Vernova Advanced Research Center, and the enhanced infrastructure will enable additional buildout for companies focused on the energy transition, including spin-off companies and co-working space. The funding will prepare the site for future development by modernizing and upgrading the site to attract tenants with high paying jobs working on technology advancements including decarbonization, alternative fuels for power generation, the grid of the future, and critical infrastructure security. This R&D campus will demonstrate technology applications on-site and foster collaboration in clean energy innovation to lower costs and expand access to affordable, sustainable power. The total project cost is $12 million.
- Chautauqua County Industrial Development Agency – $675,000: This predevelopment project will allow for shovel-ready advancement of the long-vacant 657-acre Eagle Bay site in Sheridan, Chautauqua County. Funds will help expand upon work done during the 1990s, including environmental investigation, rezoning, surveying and real estate due diligence. This work will position this location as the county’s second large-scale industrial site with direct rail access to both CSX and Norfolk Southern railways, marine cargo, and proximity to the NY SMART I-Corridor Tech Hub. The project will reduce development risk, support shovel-ready certification advancement, and reposition Chautauqua County to compete more effectively for next generation industrial development. The total project cost is $1.35 million.
- Herkimer County IDA – $500,000: This predevelopment project will support the shovel-ready advancement of the former Remington Arms factory site in Ilion. Funds will be used for site planning, environmental assessments, engineering studies, architectural design, and market feasibility analyses, which will guide the redevelopment of this vacant property. The project is expected to generate a comprehensive redevelopment plan, site design and reuse concepts, cost estimates, phasing strategy, and investment prospectus, to help attract future developers and tenants. The site currently presents a challenging building layout, aging infrastructure, and environmental concerns, and is eligible for the Brownfield Cleanup Program. The total project cost is $1.011 million.
Senator April N.M. Baskin, Chair of the Senate Committee on Commerce, Economic Development and Small Business, said, “FAST NY is helping ensure that communities across the state are ready to compete for the industries and jobs of the future. By investing in shovel-ready sites and critical infrastructure, we’re reducing barriers for business growth, attracting high-tech manufacturing, and creating pathways to good-paying jobs. These targeted investments strengthen our regional economies and position New York as a leader in innovation, advanced manufacturing, and sustainable industry.”
Assemblyman Al Stirpe, Chair of the Assembly Committee on Economic Development, said, “FAST-NY has proven to be a successful program that continues to make our state’s business ecosystem compatible for high-growth industries. The most recent awards in Schenectady, Chautauqua, and Herkimer County will support those regions and drive each community’s economic development initiatives forward, while helping create more jobs, businesses, and opportunities for New York State in the bigger picture. I’d like to commend the Governor on her commitment towards keeping our state competitive and shovel-ready for large employers and high-tech manufacturing companies.”
The FAST NY program helps to diversify New York State’s economy, generate new investments that support businesses and communities, and promote job creation. Following an initial commitment of $200 million, Governor Hochul secured an additional $100 million in program funding in both the FY25 and FY26 State Budgets. FAST NY has helped companies like fairlife, Chobani, Edwards Vacuum, Siemens Mobility and Oxbo expand into or grow their presence in New York State, collectively investing more than $2.2 billion and creating thousands of jobs.
FAST NY grants are awarded for pre-development activities and infrastructure investments to develop sites that will attract many eligible industries—including high-tech manufacturing, semiconductors, 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. For more information, or to apply for a FAST NY grant, visit esd.ny.gov/fast-ny.
About Empire State Development
Empire State Development is New York’s chief economic development agency, and promotes business growth, job creation, and greater economic opportunity throughout the state. With offices in each of the state’s 10 regions, ESD oversees the Regional Economic Development Councils, supports broadband equity through the ConnectALL office, and is growing the workforce of tomorrow through the Office of Strategic Workforce Development. The agency engages with emerging and next generation industries like clean energy and semiconductor manufacturing looking to grow in New York State, operates a network of assistance centers to help small businesses grow and succeed, and promotes the state’s world class tourism destinations through I LOVE NY. For more information, please visit esd.ny.gov, and connect with ESD on LinkedIn, Facebook and X.
###