October 13, 2009
GOVERNOR PATERSON ANNOUNCES $17.5 MILLION AWARDED IN FIRST ROUND OF UPSTATE REGIONAL BLUEPRINT FUNDING
Upstate Regional Blueprint Fund Targets Small Business Investments and Development
Governor David A. Paterson today announced $17.5 million in Upstate Regional Blueprint Funding for 15 projects to revitalize New York’s Upstate economy. The $120 million Fund, announced by the Governor in May, supports projects that help provide a framework for future growth in regions with stymied development. This first round of funding finances business investment, infrastructure upgrades and downtown redevelopment.
“My first priority as Governor is putting New Yorkers back to work. These funds provide communities with the resources they need to attract development and create jobs,” said Governor Paterson. “These 15 Upstate Regional Blueprint are a sound investment in our Upstate communities and will help keep our entrepreneurs, workers and families in New York.”
The Governor will make the announcement in Malone, where the St. Lawrence Gas Distribution Project received $2.5 million for the construction of a natural gas pipeline that will run 48 miles from St. Lawrence County into Franklin County, potentially benefiting 4,000 North Country residents.
Empire State Development (ESD) Chairman and CEO designate, Dennis M. Mullen said: “The Upstate Regional Blueprint Fund is another brick in our foundation as we strive towards sustainable growth of our Upstate communities. This strategic investment directly responds to the unique challenges we face in the Upstate economy. Not only will Blueprint Funding help the small businesses and development communities that need it most, but it will have a resounding effect on all of New York by creating and retaining jobs, spurring economic development and building stronger urban cores that will position our economy for future generations.”
Richard Campbell, President & General Manager of St. Lawrence Gas, said: “The funding commitment is an acknowledgement by Governor Paterson, Empire State Development and Franklin County that the expansion of natural gas distribution is vitally important for Northern New York State. Bringing natural gas to this new market area will provide an economic and environmentally preferred fuel choice to residential, commercial and industrial customers.”
The Upstate Regional Blueprint Fund invests in projects that advance local development and small businesses, including making improvements to industrial parks and providing loans for the purchase of equipment, real estate or other needs. Eligible applicants include municipalities, businesses, academic institutions, and non-profits and awards will range from $100,000 to $5 million. The program gives a preference to requests for loans, whose principal repayments can be recycled for future projects. ESD administers the Blueprint Fund, which works to attract businesses, improve commerce and boost local economies.
To ensure that each project meets the specific needs of its region, all applications undergo a competitive review process by ESD’s Regional Office Directors, with the support of central ESD resources. Requests for business investment assistance are reviewed on a rolling basis, and requests for infrastructure and downtown redevelopment assistance follow a quarterly calendar.
In addition to the St. Lawrence Gas Distribution Project, the following grants were awarded in the first round of Upstate Regional Blueprint funding:
Capital Region
Total Funding: $4,145,000
- Aeon Nexus Corporation – 174 Glen Street Project – $145,000
- Aeon Nexus will renovate a historic downtown property located at 174 Glen Street in Glens Falls. When the project is completed, the building will house the company’s New York State offices and 11 new employees. The project is part of the continued redevelopment of the downtown core of Glens Falls that has seen several prominent buildings renovated and brought back to modern business use.
- C & Y Albany Hotel LLC – Historic DeWitt Clinton Conversion of Embassy Suites Hotel – $4,000,000
- This project will redevelop the historic DeWitt Clinton Hotel, located in downtown Albany. The hotel is a largely vacant, deteriorated building currently situated on the corner of State and Eagle Streets across from the New York State Capitol Building. C & Y Albany Hotel, LLC plans to redevelop the property into an Embassy Suites Hotel with conference and ballroom space, a first class restaurant and other amenities.
Total Funding: $1,500,000
- Fulton Thermal Corporation – Factory Expansion and Job Creation Project – $1,500,000
- Fulton Thermal will invest $13.5 million to add 85,000 square foot to its steam boiler manufacturing facility in Pulaski and purchase new machinery and equipment. This project will create jobs and represents the largest capital investment in the community in over 20 years.
Total Funding: $1,050,000
- SIGMA/Baxter International LLC – $350,000
- SIGMA LLC manufactures medication delivery intravenous infusion pumps at its plant in Medina. This grant will be used to assist the company as it invests in $1.76 million in new machinery and associated leasehold improvement costs to increase manufacturing production capacity. The project is expected to create dozens of jobs.
- Diamond Packaging LLC – $700,000
- Diamond Packaging is a high-end printing and packaging company that will invest $5 million in a new printing press machine to service new and existing customers. This investment will ensure that the company retains its largest customers, will assist in attracting new business and will allow the company to create or retain over 150 jobs.
Total Funding: $320,000
- County of Sullivan IDA – Southern Catskills Red Meat Processing Facility – $320,000
- The Sullivan County IDA will use grant to create a meat processing plant for existing livestock producers, dramatically reducing producers’ transportation costs. This $1.6 million project is part of a collaboration with the Village of Liberty. It is estimated that the project will retain 50 livestock production jobs and benefit 200 existing farms.
Total Funding: $1,697,500
- Richardson Brands Company – Phase II Business Acquisition & Relocation – $1,697,500
- This grant will assist the company in Phase II of a multi-phase expansion plan. Richardson Brands will use this grant to acquire an out-of-state company, relocate equipment to New York State and move the remainder of Richardson Brand’s previous acquisition in Connecticut.
Total Funding: $3,475,000
- Schroon Revitalization Group, LLC- Schroon Lake Hospitality – $975,000
- This grant will be used in the initial development of an 81-room resort in Schroon Lake for year-round access to the Adirondacks and Lake Champlain. This development is a cornerstone in the revitalization of the Town of Schroon Lake.
- Franklin/St. Lawrence Counties – The St. Lawrence Gas Distribution Project – $2,500,000
- This funding will be used to construct a natural gas distribution pipeline from St. Lawrence County to Franklin County. Up to 4,000 New Yorkers could benefit from the construction of the pipeline.
Total Funding: $670,000
- Masserson Properties, Inc. – Roxbury Hotel Expansion #2 – $350,000
- This project will expand the award-winning Roxbury Hotel. This additional location will increase the number of available rooms allowing up to 30 visitors to stay within the newly constructed 5,000 square foot facility. It will result in the creation of four new jobs.
- Delaware County Local Development Corp. – Village of Delhi: Anchor Building Redevelopment – $320,000
- This project will redevelop a 20,000 square foot vacant grocery store in heart of downtown Delhi. The company will fill a rural supplies void, reducing the need for consumers to travel outside the county. The project is expected to create 16 new jobs.
Total Funding: $4,640,000
**$1.3 million went to First Niagara accounting for the $1.8 million total under Business Track**
- K-TECHnologies, Inc. – $500,000
- This project involves both the acquisition and relocation of a Massachusetts-based hi-tech manufacturing business and the purchase, refurbishing and build-out of an existing building in Blasdell, New York to house the acquired out-of-state business and accommodate current K-Tech sales and employee growth. The company will invest $2.8 million in this project and will create 74 jobs over the next five years.
- H@Lofts, LLC – Renovation of AM&A’s Warehouse – $400,000
- This project will rehabilitate the non-residential portion of the former AM&A’s warehouse. The offices will house P&B Acquisitions—a debt services company—that currently employs 40 people. This space will allow the company to expand by an additional 50 staff positions over the next five years. This is the first step toward total restoration of a building complex that is in the center of Buffalo’s central business district.
- Buffalo Urban Development Corp. – Buffalo Lakeside Commerce Park Northside Development – $2,440,000
- This is the most recent phase of an ongoing reclamation project that will rehabilitate distressed lands in the City of Buffalo. This funding will be used to complete the final site improvements and road construction needed to attract additional businesses to the Lakeside Commerce Park, opening up an additional 71 acres. This project will allow the City of Buffalo to compete for business expansion projects and is a model for redeveloping urban brownfields as shovel-ready commercial business parks.
More information about the Upstate Regional Blueprint Funds and application forms can be found at www.nylovesbiz.com. Applications for round II funding will be accepted until October 15, 2009.
The following statements were given in support of the Upstate Regional Blueprint Funds:
Senator Darrel J. Aubertine, Chair of the Senate Majority’s Upstate Caucus, said: “These are the investments we need throughout Upstate New York to spur growth and create jobs. At Fulton Thermal this funding will help this established company continue to compete and grow its workforce. The St. Lawrence gas project will help industry, such as MaCadam Cheese, which utilizes milk from local farmers in Northern New York, to better utilize our natural gas resources to grow. All of these projects will create jobs Upstate, which was the goal when we created this fund two years ago. I want to thank the governor for opening up this funding and I look forward to continuing announcements.”
Senator Bill Stachowski, Chairman of the Senate Commerce, Economic Development and Small Business Committee said: “These awards will play a pivotal role in developing two areas in the 58th Senate District, both of which hold a great deal of potential. The investment being made by K-TECHnologies is significant in terms of both capital and job creation, and the final build-out of the Buffalo Lakeside Commerce Park creates new opportunity for businesses looking at Western New York to expand or establish a presence along Buffalo’s waterfront. These two projects are perfect examples of how we intended the Blueprint program to work.”
Senator Antoine M. Thompson said: “I congratulate the Governor for securing $400,000 in Upstate Regional Blueprint funding for renovations to the AM&A's Warehouse. The funding will further jump start Buffalo’s business district and allow for job creation, which is greatly needed in Western New York.”
Assemblywoman Aileen Gunther said: “I am thankful to the Governor for the support of the meat processing facility in Liberty. This project has been in development for a number of years and is eagerly anticipated by our livestock farmers. The creation of this plant will benefit farmers throughout the Hudson Valley.”
Assemblywoman Crystal D. Peoples-Stokes said: “The Blueprint funding gives way for new opportunities while retaining jobs now and promoting economic growth in the downtown Buffalo area. I am happy to hear that the allocation of the funds are being used for economic stability in Western New York.”
