October 15, 2011: Transcript of ESD President, CEO and Commissioner Kenneth Adams

TOP October 15, 2011: Transcript of ESD President, CEO and Commissioner Kenneth Adams

Read the transcript from the web chat with ESD President, CEO and Commissioner Kenneth Adams on October 15, 2011.

Submitted by Kenneth Adams on Sat, 10/15/2011 - 10:00am
Thank you for submitting questions and participating in today's chat about New York's dynamic new approach to create jobs and grow our economy. For more information about Governor Cuomo's historic Regional Council initiative, please visit: http://nyworks.ny.gov/
Submitted by Peter on Fri, 10/14/2011 - 7:29pm
Our Universities are producing skilled high-tech entrepreneurs. What can the state do to help get small high-tech firms through the difficult start-up period?
Higher Education
Submitted by Kenneth Adams on Sat, 10/15/2011 - 9:36am
NYSUNY2020 and our Innovate NY Fund to invest in start-ups are paving the way to a stronger economy built on a successful higher education system and a vibrant small business community. NYSUNY2020 will help maintain academic affordability and transform higher education institutions into engines for economic development. Innovate NY is one of three critical pieces of legislation Governor Cuomo recently signed which helped New York win $55.4 million in federal funding from the State Small Business Credit Initiative (SSBCI): The Innovate NY Fund ($26 million) The Capital Access Program ($19 million) The Bonding Guarantee Assistance Program ($10 million) With $10 in new private lending expected for every $1 in federal funding, New York stands to receive over HALF A BILLION DOLLARS in private investment to create thousands of jobs.
Submitted by Jennifer on Sat, 10/15/2011 - 9:01am
What assistance is out there for those of us who were flooded by Irene?
Submitted by Kenneth Adams on Sat, 10/15/2011 - 9:19am
Assistance is available for businesses adversely impacted by Hurricane Irene, Tropical Storm Lee and related flooding. Governor Cuomo is urging businesses to do 3 things: 1. Immediately reach out to the U.S. Small Business Administration (SBA) to apply for assistance for physical and economic damages; 2. Fill out the ESD Hurricane Irene Questionnaire so that New York can best assess storm impact on businesses; and (http://esd.ny.gov/DisasterRecovery.html) 3. Fill out a FEMA questionnaire to access potential assistance that may be available to businesses through various agencies or future programs. (http://esd.ny.gov/DisasterRecovery.html)
Submitted by Kevin on Sat, 10/15/2011 - 8:49am
Could NY have done more to win the GE Solar Project?
Submitted by Kenneth Adams on Sat, 10/15/2011 - 9:17am
Like LG Duffy said the other day, bringing 100 new high tech jobs to the Capital Region without any taxpayer subsidy is a real victory for our upstate economy. Plus, GE has said that NY is very well positioned for its next plant – another sign that NY is continuing to win the future. And this is just the latest in what will be a long string of big wins for NY. We recently won an international competition to build the next generation computer chip in New York. With a $4.4 billion private investment and nearly 7,000 jobs spread across multiple areas upstate, this is a really big win and a clear demonstration that New York State is open for business and well positioned to create new economic opportunities across our state.
Submitted by Roxanne on Sat, 10/15/2011 - 8:40am
The Adirondack Park is protected land and development here is difficult leaving many communities struggling. Are there plans to retool development in the park?
North Couintry
Submitted by Kenneth Adams on Sat, 10/15/2011 - 9:22am
There are several important economic development opportunities within Adirondack Park and ESD is working with the Adirondack Park Agency to pursue them. I serve on the board of the agency and will continue to be an advocate for the revitalization of the park.
Submitted by Naniette on Sat, 10/15/2011 - 8:38am
How do you ensure that the jobs created through state incentives are good paying jobs?
Submitted by Kenneth Adams on Sat, 10/15/2011 - 9:26am
A hallmark of the Cuomo Administration is only paying for performance. We are investing taxpayer dollars like a private investor would for his/her money – prudently and only where there are clear and measureable outcomes for success. And that means ensuring that our public investment yields a public benefit – good paying jobs for New Yorkers. Through the Excelsior Jobs Program, we are investing in success and incentivizing the creation of good-paying jobs in growth industries across NY.
Submitted by Nick on Sat, 10/15/2011 - 8:36am
I am graduating from college in the spring. What can you do to ensure there are jobs for me so I don't have to leave the state or move back in with my parents because I can’t find work?
Submitted by Kenneth Adams on Sat, 10/15/2011 - 9:31am
We want you to remain where you should be - right here in New York. Through the Regional Council initiative Gov. Cuomo created, we are fundamentally changing New York's approach to job creation. By investing in each region's unique strengths and maximizing our local assets, government is becoming an effective partner with the private sector to create the jobs we need to get New York working again. We are also working hard to improve our business climate by holding the line on state spending and reducing the cost of doing business in New York. Making New York a more attractive place for businesses to grow and invest and invest, will result in more jobs so New Yorkers just like you – who are born here, raised here, and go to school here – can find work here.
Submitted by KEVIN on Sat, 10/15/2011 - 8:35am
Agriculture is important for upstate communities, can New York help preserve and grow this industry?
Southern Tier
Submitted by Kenneth Adams on Sat, 10/15/2011 - 9:40am
First, ESD is extremely fortunate to have former Ag/Markets Commissioner Pat Hooker helping lead our team. We know we can grow our agriculture and food sector, the Governor has said this publically through his Farm NY program. It will be interesting to see the priorities that come out of the Regional Councils, all of which have an agricultural representative. One program that we have that has been very meaningful to agriculture is our Linked Deposit Program. In fact this year Governor Cuomo offered significant improvements to it by doubling the length of time a business can participate and doubling to $2 million the amount that can be accessed through the program. I think it makes a lot of sense to take another look and see if we can improve it even more.
Submitted by Michael on Sat, 10/15/2011 - 8:33am
What are you doing to help Upstate in particular?
Upstate Needs Help
Submitted by Kenneth Adams on Sat, 10/15/2011 - 9:48am
Nowhere is the need for jobs more important than in Upstate New York. The Regional Council initiative we launched recognizes that there isn’t “one economy” in New York and we must invest in a series of regional economies to maximize regional strengths and draw upon regional solutions to create jobs and economic growth. Most recently, in a clear sign of the new direction in which New York is moving, we won a very big deal - a $4.4 billion investment by a group of international technology companies to create the next generation of computer chip in New York. This project will create and retain nearly 7,000 jobs in Albany, Utica, Canandaigua, East Fishkill and Yorktown Heights, giving the Upstate economy a strong foundation to rebuild its economic base.
Submitted by Greg on Sat, 10/15/2011 - 8:32am
You'er doing a great job so fall, how do you propose to keep up your momentum and continue to restore integrity to Albany?
scotchtown, NY
Your job performance
Submitted by Kenneth Adams on Sat, 10/15/2011 - 9:44am
As Gov. Cuomo says, we need to rebuild state government on the principles of performance, integrity and pride. Thanks to his leadership, NY is once again leading the way with competence, and as a result, the confidence in NY is growing rapidly. By passing an on-time and balanced budget without any new taxes, a property tax cap, ethics reform, Recharge NY, SUNY2020, and other vital pieces of historic legislation, NY is well on its way to restoring its reputation as the Empire State. We will leverage these achievements as the pillars of reform and recovery to attract business growth, restore our competitive edge, and get New York working again.
Submitted by Deanna on Sat, 10/15/2011 - 8:32am
Why did New York get rid of the Empire Zone Program?
Empire Zone Program
Submitted by Kenneth Adams on Sat, 10/15/2011 - 9:55am
We replaced it with a new program that guarantees performance – the Excelsior Jobs Program. Now, we only invest taxpayer dollars where there are clear requirements for long-term and sustainable job creation. This is about paying for performance and investing prudently – a standard we owe to all New York taxpayers any time their money is being spent.
Submitted by Donald on Sat, 10/15/2011 - 8:16am
What are the potential economic benefits and costs if hydrofracking is allowed in NYS?
Town of Union
Costs/Benefits of Hydrofracking
Submitted by Kenneth Adams on Sat, 10/15/2011 - 8:54am
The DEC’s review currently underway to study the issue of high volume hydraulic fracturing is looking at environmental and economic impacts. The DEC recently published a revised draft supplemental generic environmental impact statement that is currently subject to public review and comment. This 1500-page document exhaustively studies the potential impacts from high volume hydraulic fracturing and proposes myriad measures that DEC believes would adequately address the concerns about whether this activity can be done safely and with adequate protection of New York's public health and environment. The document also studies the potential economic impacts and finds that hydraulic fracturing activity would spur significant job growth both directly and indirectly (e.g., hotels, shops, restaurants), and would increase revenues to participating landowners, local government and state government.
Submitted by Gina on Sat, 10/15/2011 - 8:03am
The State has among the highest energy prices in the country, and this is driving heavy industry and jobs out of NY. What are you doing to lower the cost of doing business?
Baldwin/Long Island
Cost of doing business
Submitted by Kenneth Adams on Sat, 10/15/2011 - 8:55am
Earlier this year, the Governor enacted the ReCharge NY program, a statewide program that will offer long-term low-cost power contracts to businesses that agree to stay or come to New York and make job and capital investment commitments. 910 MW of power is available through the New York Power Authority, and applications are being solicited now the Consolidated Funding Application.
Submitted by Rebecca on Sat, 10/15/2011 - 8:00am
The Solar Jobs Bill proposed last year is expected to create thousands of jobs. Do you believe solar energy deployment is a good economic development strategy and do you support legislation that will spur greater investment in solar?
Huntington, Long Island
Solar Jobs Bill
Submitted by Kenneth Adams on Sat, 10/15/2011 - 8:56am
The State’s Renewable Portfolio Standard currently provides rebates to encourage residential and commercial customers to install solar, and it is also supporting larger solar PV systems in the NY Metro area through a 5-year $150 million competitive program. As part of the Power NY Act enacted by the Governor earlier this year, the New York State Energy Research and Development Authority was directed to study the costs and benefits of deploying more solar in New York State, and that study is underway.
Submitted by Angie on Sat, 10/15/2011 - 6:06am
How do you feel about hydrofracking in the Marcellus Shale?
Natural Gas Drilling
Submitted by Kenneth Adams on Sat, 10/15/2011 - 9:57am
Multiple studies have shown major economic benefits from hydrofracking in the Marcellus Shale. The economic impact includes thousands of new jobs, opportunities for small business and other growth possibilities across the Southern Tier and beyond. However, we also need to maintain safeguards for our drinking water supply, and DEC is hard at work to strike a proper balance.
Submitted by Joan on Sat, 10/15/2011 - 1:41am
I've been hearing a lot about the Regional Councils What are they and how do they work?
Hudson Valley
Regional Councils
Submitted by Kenneth Adams on Sat, 10/15/2011 - 8:57am
Governor Cuomo’s Regional Councils create a more efficient and effective model for job creation and economic development. They replace a one-size fits all model that failed to work with a community-based, performance-driven approach that will optimize State resources and maximize our potential to create new jobs and sustainable economic growth. Supported by up to $1 billion in state resources, Regional Councils encourage individual areas to chart their own course for job creation by investing in regional solutions and local assets to drive economic growth. With members from the business, academic, and labor communities working together to design a plan that works for their regions, state government will finally have an economic development strategy as diverse as New York is. Simply put: we are going to put New Yorkers back to work by investing in an economic development strategy that works for each of New York’s regions.
Submitted by Andrew on Fri, 10/14/2011 - 11:59pm
I see big high-tech companies going to other states all the time, how come NY can’t be their home? We need new jobs that are going to last. What are you doing to bring new jobs to NY?
Lower Hudson Valley
Submitted by Kenneth Adams on Sat, 10/15/2011 - 8:58am
Great question, the key to winning the race for the future is a strong investment in the jobs of tomorrow. With an improved business climate, spurred by passage of a property tax cap and a balanced budget with no new taxes or borrowing, businesses are once again beginning to recognize New York as a place to grow and invest. Recently Governor Cuomo announced a $4.4 billion investment from five leading international companies to create the next generation of computer chip technology. This historic investment represents an international victory for New York, who beat out countries in Europe, Asia, and the Middle East to attract tech giants IBM, Intel, Samsung, Global Foundries, and TSMC to create and retain nearly 7,000 jobs. While no private company will receive any state funds as part of the agreement, New York will invest $400 million in the SUNY College for Nanoscale and Science Engineering in Albany. With jobs going to Albany, Utica, Canandaigua, East Fishkill and Yorktown Heights, the Upstate economy, which has seen massive job loss in previous decades, will finally have a strong foundation to rebuild its economic base. These companies could have chosen anywhere in the world, but they chose New York because under Governor Cuomo’s leadership, businesses are once again recognizing that New York works.
Submitted by Josie on Fri, 10/14/2011 - 11:35pm
What is the State doing to promote clean energy as an economic development strategy?
Clean Energy
Submitted by Kenneth Adams on Sat, 10/15/2011 - 9:14am
The State is working on a number of fronts to promote investment in renewable energy infrastructure. For example, we are providing financial incentives through the State’s Renewable Portfolio Standard, or RPS. Earlier this year, the Governor announced 17 renewable energy projects were competitively selected by NYSERDA and would be given long-term contracts valued at $190 million. The projects, which include wind, hydroelectric, landfill gas-to-energy, and biomass projects, will add more than 300 MW to the electric grid and provide about $500 million in economic benefits to the State. NYSERDA will continue offering competitive solicitations under the RPS. In addition, the Power NY Act was enacted by the Governor earlier this year. The new law establishes a streamlined power plant siting process with clear timeframes for permitting decisions. By making our permitting process more certain, we will reduce the cost to develop clean energy projects and encourage more investment in the State. By encouraging more investment in renewable and clean energy supplies through regulatory and financial incentives, the State is better positioned to attract upstream economic development opportunities in the clean tech sector – more R&D investment, more clean tech manufacturers, and more start-ups will be attracted to NY as a leader in clean tech deployment.
Submitted by Alyssa on Fri, 10/14/2011 - 8:06pm
Green jobs are the future of both US and New York’s economy? What are you and the governor doing to help this industry?
Green Jobs
Submitted by Kenneth Adams on Sat, 10/15/2011 - 10:05am
Green jobs are an investment in our future and absolutely essential to the growth of a new New York economy. Regional Councils are state government’s new vehicle to invest in areas of innovative economic growth like green jobs. Working as an agent of change, Regional Councils are moving New York toward a new atmosphere of cooperation, collaboration, and comprehensive planning to clear a path to prosperity and guide New York’s economic recovery and Renaissance.
Submitted by Jean on Fri, 10/14/2011 - 4:52pm
Do you agree with ESDC’s December 2010 argument that 25 years of construction is no worse for the local community than 10 years?
New York
Atlantic Yards
Submitted by Kenneth Adams on Sat, 10/15/2011 - 9:58am
I do agree because the impacts of construction are more severe when there are multiple buildings under construction at one time. If only one building is constructed at a time, or if there are gaps between construction, the level of noise will not be as great on the site, there will be less trucks traveling to the site and there will be overall less disruption in the area. A more condensed schedule over a shorter period of time will have more severe impacts to the local community.
Submitted by Jean on Fri, 10/14/2011 - 4:50pm
Why is your agency appealing a July New York State Supreme Court decision ordering ESDC to prepare a Supplemental Environmental Impact Statement analyzing the effects of the 2009 modified Atlantic Yards plan on the surrounding neighborhoods?
New York City
Atlantic Yards
Submitted by Kenneth Adams on Sat, 10/15/2011 - 9:59am
ESD strongly believes that it has complied with all relevant laws, and that is why we have appealed Justice Friedman’s decision.
Submitted by Angela Caffery on Fri, 10/14/2011 - 10:26am
Given the limited amount of funds, how are you going to decide what regions get a share of the money available for economic development. I think that a community's need should be a factor. The Southern Tier suffered a lot of damage from the floods and they have a greater need for assistance.
Economic Development Funds
Submitted by Kenneth Adams on Sat, 10/15/2011 - 10:02am
For years, New York has been seen as having one of the worst business climates in the nation. That’s why we are changing the way we approach economic development and job creation in the State through the Governor’s Regional Economic Development Council initiative. This is a more efficient and effective support system so government can invest regional economic development efforts that help get more unemployed New Yorkers back to work. Most importantly, economic development funding will be allocated in a manner that works better, costs less, and produces more for taxpayers.
Submitted by Kenneth Adams on Sat, 10/15/2011 - 09:00am
Good morning. Thank you for joining me and participating in a discussion about what state government is doing to get New York working again.