STATEMENT FROM GOVERNOR DAVID A. PATERSON

Governor David A. Paterson today announced that Chairman of Empire State Development Corporation Robert G. Wilmers will resign his position. Governor Paterson also announced his intention to appoint Empire State Development Corporation Upstate President Dennis M. Mullen as Chairman of Empire State Development Corporation (ESDC). Mr. Mullen was selected last week to become President and CEO of ESDC and Commissioner of the Department of Economic Development beginning July 1; combining the positions of Chairman and CEO will require legislative approval.

Governor Paterson issued the following statement:

“A year ago I appointed Bob Wilmers as Chairman of Empire State Development Corporation, asking him to strengthen the agency and renew the state’s efforts to attract business and create jobs. Since then, New York has faced unprecedented economic challenges, yet under Bob’s leadership Empire State Development Corporation moved forward, creating jobs and expanding opportunities for all New Yorkers. Since July of 2008, ESDC has pledged to provide more than $120 million in grants and $27.9 million in loans, which will retain nearly 12,500 jobs, create more than 6,000 new jobs, and leverage $2.9 billion in private and other public-sector investments across New York State.

“Bob recognized the statewide challenges facing New York, and his efforts in the restructuring of Empire State Development ranged from enacting critical reforms to the Empire Zone Program to ensuring that important development projects like Brooklyn Bridge Park and the revitalization of Buffalo’s Erie Canal Inner Harbor forge ahead. He unified and strengthened the agency’s efforts to attract business and spur local development, and put in place economic development professionals like Dennis Mullen who will continue with ESDC’s critical mission. On behalf of all New Yorkers I thank Bob for us unwavering commitment to our great State.”

Empire State Development Corporation Chairman Robert G. Wilmers issued the following statement:

“The ongoing crisis in the financial sector and in the overall economy has imposed a burden of work that I did not anticipate, and I consequently feel obliged to resign the chairmanship. I’m grateful for having had the opportunity to serve in this role, and am especially appreciative of Governor Paterson’s support and commitment to economic development issues in New York State, and to the Upstate economy in particular.

“I believe I am leaving ESDC, with its new management structure in place, in a good position to lead essential economic development projects across New York State. It has been an honor to have worked with Governor Paterson. Moving forward under the leadership of Dennis Mullen, I know that New York will continue to remain a leader in attracting new investment and creating new jobs while developing revitalizing every part of New York State.”

Mr. Wilmers has led M&T Bank Corporation since 1983, when M&T had assets of $2 billion. Today, with assets totaling more than $71 billion and 7,500 employees in New York, M&T is one of America’s 20 largest banks.

Mr. Wilmers’ position is unpaid, and his resignation will become effective Friday, June 12. Mr. Mullen’s appointments as ESDC President and CEO and Department of Economic Development Commissioner are pending confirmation by the New York State Senate.