Skip to main content

New York to Provide Company Grants, Tax Breaks

New York to Provide Company Grants, Tax Breaks
by
The Cuomo administration said the projects will create jobs.

Gov. Andrew Cuomo's administration on Thursday awarded a new round of grants and tax credits worth an estimated $709 million for 852 projects expected to create jobs.

   The announcements, which drew hundreds of municipal and business representatives to Albany, are for the fourth year of regional economic development programs. The 10 regional counsels made presentations to state officials in bids for funding.

   Awards included $81.9 million for Long Island, $82.8 million for the mid-Hudson region, $80.8 million for the Southern Tier, $80.7 million for the Finger Lakes region and $80.2 million for central New York.

   Others were $63.4 million for northern New York, $61.2 million for New York City, $60 million for the greater Albany area, $59.6 million for the Mohawk Valley and $58.6 million for western New York.

   "The work taking place in each region across the State is so important because it lays the groundwork that will continue to drive the economy - not just today and tomorrow, but for years to come," said Lt. Gov. Robert Duffy, who chairs the regional councils and traveled the state for meetings and groundbreakings. He's leaving the administration after this year.

   In the mid-Hudson region, $3.1 million to the Merlin Entertainments Group is for developing a site in Haverstraw for a new LEGOLAND theme park, which would be followed by a water park and hotel.  State officials said the parks aimed at families with young children typically spur additional development, including lodging and retailing.

   On Long Island, $4.7 million is for construction of a three-story commercial building adjacent to the Long Island Rail Road Wyandanch Station

   In the Southern Tier, $2.9 million is for expanding broadband service to businesses and residents in rural Delaware County in a collaboration of telecommunications providers, an electric cooperative and two economic development agencies.

   In central New York, $3.6 million is for transforming the previously closed Hotel Syracuse to the Onondaga County Convention Center Headquarters Hotel.

   The Development Authority of the North Country was awarded $5 million for a redevelopment fund to support revitalization and infrastructure projects.

   In the greater Albany area, $1.2 million is for the Schenectady Metroplex Authority to leverage other investment to improve three blighted city blocks in downtown Schenectady that are within walking distance of Schenectady County Community College and Union College, the downtown business district and train and bus stations. It's expected to include 105 apartments and nearly 10,000 square feet of retail and restaurant space.