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5. FY 2027 Executive Budget 8. Empire State Development Corporation Agency Web Site: https://esd.
ny. gov/ Doing business as Empire State Development (ESD), the Urban Development Corporation (UDC) is a New York State Public Benefit Corporation.
Its overall objective is to promote a vigorous and growing State economy, encourage business investment and job creation, and support diverse, prosperous, local economies across New York State through the use of loans, grants, tax credits, real estate development, marketing, and other forms of assistance.
## Organization and Staffing In 1995, the Department of Economic Development (DED) and the Urban Development Corporation were consolidated to form Empire State Development. Empire State Development is headed by the President/CEO appointed by the Governor, subject to Senate confirmation.
ESD is governed by a nine-member board of directors, comprising two ex-officio members and seven members appointed by the Governor with the consent of the Senate. ESD operates regional offices in Binghamton, Buffalo, Elmira, Hauppauge, New Windsor, New York City, Plattsburgh, Rochester, Syracuse, Troy, Utica, and Watertown, with headquarters in Albany, Buffalo, and New York City. * Bolstering Biotech.
The Budget includes $65 million for the Bolstering Biotech Initiative, which will support all phases of the life sciences sector – from discovery to commercialization, cementing New York’s position at the forefront of biotech innovation. * Semiconductor Design Center. $25 million will support the Downstate Semiconductor Design Center initiative.
This world-class chip design and workforce training center will focus on growing New York State's role in semiconductor design, which will support the growth of high paying jobs and downstream manufacturing. * Quantum Research Hubs. The Budget includes $60 million to support the creation of quantum technology commercialization hubs.
This investment will jumpstart hubs to serve as regional anchors for quantum innovation, prioritizing commercialization of new inventions and real-world use cases. Each hub would host an incubator for quantum-focused startups, providing early-stage companies with critical resources. * SUNY Stony Brook Quantum Research Innovation Hub.
The Budget includes $100 million to support the Quantum Research Innovation Hub at SUNY Stony Brook. * NY Kicks. The Budget includes $6 million for NY Kicks.
As part of the FIFA World Cup festivities across the State, New York is launching NY Kicks: A World Cup Legacy Investment Fund to build youth soccer infrastructure in disadvantaged communities in each region that will have lasting effects beyond the World Cup summer. * FIFA World Cup. The Budget includes $5 million in funding for marketing and tourism initiatives related to the 2026 FIFA World Cup.
* Job Retention. The Budget includes $38. 5 million in funding to support of job retention and investment for institutions that provide technology innovation and financial services to businesses.
* Saving Performing Arts and Cultural Spaces (NY SPACE). The Budget includes $10 million in grant funding to help established nonprofit performing-arts organizations acquire permanent facilities and secure their long-term future in New York. * Assistive Technology.
The Budget includes $5 million to create a new Assistive Technology Innovation Center dedicated to accelerating the research, development, and commercialization of assistive technologies. * Industrial Hemp Pipeline. The Budget includes $2 million in funding to support New York’s Future Bioeconomy.
The funding will support the efforts of a research and development consortium to advance the commercialization of industrial hemp in the State through the construction of a processing facility and workforce training center. * Advance Adaptive Clothing for People With Disabilities. The budget includes $60,000 to expand the Governor’s Fashion Innovation Center through the launch of an Adaptive Clothing Grant Program.
* Promote Opportunity with Electric Readiness for Underdeveloped Properties (POWER-UP) Fund. The FY 2027 Budget includes funding to continue the POWER-UP program which supports the proactive development of electric capacity to create power-ready sites and attract new businesses to the State. This funding reflects the second installment of a three-year total commitment of $300 million, that will allow for proactive development.
* Regional Economic Development Councils. $150 million to support a new round of funding for the Regional Economic Development Councils initiative to further advance each region's long-term economic development strategies and job growth. * Workforce Development Initiatives.
The Budget adds $188 million in workforce development funding that continues support for the FY 2023 workforce development initiative that advanced a wide-reaching and historic investment in workforce development across several agencies and authorities.
This funding will sustain ESD’s Office of Workforce and Economic Development initiative including: workforce development local assistance and capital grants programs, targeted workforce investments in teachers, healthcare workers, collegiate apprenticeships and internships, mental health professionals, and caregivers. Resources for ON-RAMP are also included in this funding. * New York Works Economic Development Fund.
$400 million for the New York Works Economic Development Fund as part of the New York Works initiative. This Fund will provide capital grants to support projects that facilitate an employer’s ability to create new, or retain existing, jobs, or to fund infrastructure investments necessary to attract new businesses or expand existing businesses. * Market New York.
$15 million to support tourism marketing plans and projects that best demonstrate regional collaboration among counties and promote regional attractions. * Promote Tourism and Business Investment. The Budget includes $47 million to support efforts to promote New York State as a tourism destination, attract and expand business investment and job creation, and support economic development initiatives of the State.
* Economic Development Investments. The Budget includes $44 million to support ongoing economic development initiatives including the New York State Economic Development Fund, the Minority and Women-Owned Business Development and Lending Program, the Urban and Community Development Program, and the Entrepreneurial Assistance Program. * Western NY Venture Competition.
The FY27 Executive Budget includes $5 million to support a venture competition initiative in Western New York. * Rochester-Monroe Transformation Initiative. The Executive Budget includes $225 million in funding for economic development and revitalization projects in the City of Rochester and Monroe County.
The FY 2027 Executive Budget recommends over $1. 56 billion in new funding in support of various ESD programs and initiatives.
For more information on this agency's budget recommendations located in the Executive Budget Briefing Book, click on the following link: Briefing Book – Economic Development | New York State Capital Assistance Program | | New York State Economic Development Assistance Program | | Upstate Revitalization | Note: Most recent estimates as of 01/20/2026
According to the current listing, eligibility includes: Municipalities, public authorities, and nonprofits (excluding schools and universities) in New York State. Confirm the full requirements in the official notice before applying.
NY KICKS Program is funded by Empire State Development. Verify program details on the funder's official page before applying.
This opportunity targets applicants in New York. If your organization operates elsewhere, check the official notice for location requirements.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
Past winners and funding trends for this program
Governor Hochul's September 10 solicitation offers up to $25 million in capital grant funding for a Downstate semiconductor design center. Phase 1 concept papers are due October 26, 2026 at 2:00 p.m. The eligibility language excludes for-profit chip firms as prime applicants and the geography excludes everything north of Putnam County. Here is who can actually win this, and how the consortium should be built.
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