New York Ventures

Empire State Development (ESD) is New York State's chief economic development agency, focusing on promoting business growth, job creation, and enhancing the state’s overall economy. Through various programs and initiatives, ESD supports businesses of all sizes and industries, providing financial incentives, grants, loans, and other resources to foster economic development across the state. One of ESD's flagship programs is the "FAST NY" initiative, which aims to create shovel-ready sites for industrial development, providing substantial grants to improve infrastructure like transportation, utilities, and site development. This program has committed over $175 million to support over 2,700 acres of industrial property. ESD is also a major player in fostering innovation through investments in life sciences and biotech. For instance, the expansion of Harlem Biospace, supported by a $1.5 million ESD grant, exemplifies its role in nurturing New York’s biotech ecosystem by providing advanced facilities for startups and fostering collaboration between businesses and academic institutions like Columbia University. Overall, ESD’s initiatives are focused on strategic job creation, attracting innovative industries, and revitalizing communities, helping to position New York as a competitive environment for both startups and established businesses.