ESD Quarterly Report: 1 · ESD Quarterly Report: 1st Quarter of Fiscal Year 2016-17 3 ECONOMIC DEVELOPMENT PROGRAMS: APPROPRIATION CATEGORIES –Transformative Investment Program

ESD Quarterly Report: 1st Quarter of Fiscal Year 2016-17 1

STATUS REPORT: 1ST QUARTER FISCAL YEAR 2016-17

As required by statute, this report contains the status of economic development programs administered by the Urban Development Corporation, doing business as the Empire State Development Corporation (“ESD”). Funding for the projects listed herein was approved by the ESD Directors during the 1st Quarter of Fiscal Year 2016-17 (April 1 through June 30). During this period, the ESD Directors approved 56 awards to companies or organizations for 54 projects totaling $86,486,838 in funding commitments. These projects will retain 4,167 jobs, create 689 jobs and leverage $278,563,919 in private or other public sector investment.

Contents

Introductory Information: Economic Development Programs: Appropriation Categories New York State Map: Location and Amount of Commitments

Section 1: Cumulative Summary of Commitments and Disbursements by Appropriation Cumulative Summary of Commitments by Appropriation: Project List Cumulative Summary of Disbursements by Appropriation: Project List Section 2: Geographic Distribution of Approved Projects Geographic Distribution of Approved Projects: Project List Section 3: Job Creation and Retention Job Creation and Retention: Project List Section 4: Impact of Approved Projects on Distressed Urban and Rural Communities,

Small- and Medium-sized Businesses, and Strategic Industries Distressed Urban and Rural Communities: Project List Small- and Medium-sized Businesses: Project List Strategic Industries: Project List Appendix Benefit Cost Evaluations


ECONOMIC DEVELOPMENT PROGRAMS: APPROPRIATION CATEGORIES

Projects in the report are funded from the appropriation (and reappropriation) categories listed below, including the Fiscal Year(s) (“FY”) of appropriations.

Buffalo Regional Innovation Cluster (“BRIC”) – an appropriation to support economic development programs

in the City of Buffalo and surrounding areas.

Community Development Financial Institution Program (“CDFI”) – an annual appropriation that provides micro-loans to businesses that do not qualify for bank loans as well as one-on-one counseling and business development assistance to facilitate credit-readiness.

Economic Development Purposes Fund (“EDPF”) – a two-year appropriation established in 2011-12 budget that made $62.36 million of funding available for economic development across New York State for business investment, infrastructure investment, and economic growth investment initiatives.

Empire State Economic Development Fund (“EDF”) – created in 1996 and generally funded annually, this

appropriation provides assistance for projects that promote the economic health of New York State by facilitating the creation or retention of jobs or the increase of business activity.

Entrepreneurial Assistance Program (“EAP”) – two annual appropriations that establish and maintain

Entrepreneurial Assistance Program Centers in local communities to provide instruction, training, technical assistance, and support services to individuals who have recently started their own business or are interested in starting a business.

Market NY Working Capital (“Market NY”) – a $10 million appropriation initiated during Round 3 of the Regional Council Consolidating Funding Application process, to support regionally themed, New York focused projects to help to bolster tourism growth by promoting tourism destinations, attractions, and special events.

New York Works Economic Development Fund (“NYWEDF”) – a $75 million appropriation in the 2012-2013 budget to support economic development. This includes a $25 million allocation to the Connect NY Broadband Program.

New York Power Authority Fund (“NYPA”) – Funding to support various ESD economic development initiatives

NYPA Craft Beverage Program – An appropriation established in FY 2014-2015, under Section 19 of Part I of Chapter 55 of the State Law, allowing the Power Authority of the State of New York to make a contribution of up to $90 million to the State Treasury, a portion of which was directed to the credit of ESD in furtherance of ESD’s Statewide economic development initiatives. Empire State Development will provide up to $250,000 of funding to establish the State’s Craft Beverage “Regional Marketing” Grant Program. The program will support marketing initiatives that target craft beverage businesses located within the Central New York region to increase the profile, awareness and sales of Central New York produced wine, beer, spirits, and hard cider.

Regional Council Capital Fund (“RCCF”) – an appropriation established under the Governor’s Regional

Economic Development Council Initiative to support capital-based economic development initiatives intended to create or retain jobs, prevent or reduce unemployment and underemployment and to increase business activity in a community or region.

Restore New York Communities Initiative (“Restore NY”) – a $300 million appropriation, awarded over three

years (FY 2006-07, FY 2007-08, and FY 2008-09), that aids municipalities with real property in need of demolition/deconstruction, rehabilitation or reconstruction for both commercial and residential property.


ECONOMIC DEVELOPMENT PROGRAMS: APPROPRIATION CATEGORIES

Transformative Investment Program – a $400 million appropriation established in FY 2015-2016 that makes awards of no more than $5 million for capital costs of regionally significant economic development initiatives that create or retain private sector jobs.

Upstate Regional Blueprint Fund (“URB”) – a one-time appropriation of $120 million enacted in FY 2008-09 to promote economic development in upstate New York by facilitating the creation and retention of jobs or other economic activity by providing financial assistance via a Request for Proposals process.

Urban and Community Development Program (“UCDP”) – an annual appropriation that promotes economic development by encouraging economic and employment opportunities in targeted communities and urban areas.

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North CountryNorth CountryCapital Region

Capital Region

Mohawk ValleyMohawk Valley

Mid-HudsonMid-Hudson

Central NYCentral NY

Finger LakesFinger Lakes

Western NY

Western NY

Southern TierSouthern Tier

Essex

Erie

Lewis

St. LawrenceFranklin

HamiltonUlster

Oneida

Steuben

Herkimer

Clinton

Delaware

Otsego

Jefferson

Suffolk

Warren

Sullivan

Oswego

Allegany

Orange

Cattaraugus

CayugaTioga

Saratoga

Broome

Ontario

Chautauqua

Dutchess

Wayne

Greene

Chenango

Fulton

Madison

Albany

Onondaga

Washington

Columbia

Yates

Niagara

Wyoming

LivingstonSchoharie

CortlandRensselaer

Genesee

Tompkins

Seneca

Orleans

Chemung

Schuyler

Westchester

Nassau

Montgomery

Putnam

Rockland

Schenectady

QueensKings

Bronx

Richmond

New York

Long IslandLong Island

New York CityNew York City

Empire State Development Approved ProjectsFiscal Year 2016 - 2017 First Quarter

®

040

20Miles

**Please note that projects located closely together may only appear as one symbol or overlapping symbols due to map scale.

AmountY

Less than $50,000_

$50,000 - $1,000,000F

Over $1,000,000Funding Sources!

Buffalo Regional InnovationCluster

!Economic DevelopmentPurposes Fund

!Economic TransformationProgram

!Empire State EconomicDevelopment Fund

!Job Development Authority

!Market New York Program

!New York Power Authority CraftBeverage Program

!New York Works EconomicDevelopment Fund

!Regional Council Capital Fund

!Restore New York CommunitiesInitiative

!Transformative InvestmentProgram

!Urban and CommunityDevelopment Program

New York State Department of Economic Development,Division of Economic Analysis and Research, April, 2016.


SECTION 1: CUMULATIVE SUMMARY OF COMMITMENTS AND DISBURSEMENTS

Cumulative Summary of Commitments by Appropriation

Commitments are broken down by appropriation category and detail the total funding commitments approved by the ESD Directors during the 1st Quarter of FY 2016-17. Appropriation Amount

Buffalo Regional Innovation Cluster $13,340,000

Economic Development Purposes Fund $250,000

Empire State Economic Development Fund $6,680,270

Economic Transformation Program $500,000

Job Development Authority $8,820,000

Market New York Program $817,450

New York Works Economic Development Fund $24,000,000

NYPA Craft Beverage Marketing Program $404,725

Regional Council Capital Fund $15,881,893

Restore New York Communities Initiative $650,000

Transformative Investment Program $15,000,000

Upstate Regional Blueprint Fund $142,500

TOTAL $86,486,838


SECTION 1: CUMULATIVE SUMMARY OF COMMITMENTS AND DISBURSEMENTS

Cumulative Summary of Disbursements by Appropriation

Disbursements are broken down by appropriation category and detail the total funding disbursements made during the 1st Quarter of FY 2016-17 for funding commitments previously approved by the ESD Directors.

Appropriation Disbursements

Buffalo Regional Innovation Cluster $30,250,000

Community Development Financial Institution $1,229,965

Economic Development Purposes Fund $1,629,058

Economic Transformation Program $1,458,802

Empire State Economic Development Fund $8,157,036

Entrepreneurial Assistance Program $1,358,685

Market New York Program $1,208,300

New York Works Economic Development Fund $11,524,470

New York Power Authority Fund $3,500,000

NYPA Craft Beverage Marketing Program $413,960

Regional Council Capital Fund $16,559,984

Restore New York Communities Initiative $459,676

Upstate Regional Blueprint Fund $400,000

Urban and Community Development Program $3,344,518

TOTAL $81,534,455


Cumulative Summary of Commitments by Appropriation: Project List (p.1)

Project Name Total Commitment

Buffalo Regional Innovation Cluster

UH Lofts – CB Emmanuel Realty Capital 2,000,000$

43North LLC Working Capital 1,040,000$

Northland Corridor Redevelopment and WNY Workforce Training Center Capital 10,300,000$

Subtotal 13,340,000$

Economic Development Purposes Fund

JADAK Capital 250,000$

Subtotal 250,000$

Empire State Economic Development Fund

Centrotherm Eco Systems Capital 100,000$

Hanson Sign Companies Capital 70,000$

MVEDGE Nano Utica Capital 5,000,000$

Farnborough Air Show Working Capital 80,270$

GreenRenewable Capital 250,000$

OANB Capital 300,000$

Columbus McKinnon Capital 340,000$

We Care Transportation II Capital 540,000$

Subtotal 6,680,270$

Economic Transformation Program

Advanced Atomization Technologies 500,000$

Subtotal 500,000$

Job Development Authority

Precare JDA 3,120,000$

Intergrow Webster JDA 5,700,000$

Subtotal 8,820,000$




Market New York Program

Letchworth Nature Center Capital 100,000$

Phoenicia Festival of the Voice Working Capital 56,000$

Lakes to Locks Working Capital 123,000$

Strong Museum of Play Working Capital 151,450$

Visit Buffalo Niagara - Working Capital I 125,000$

Visit Buffalo Niagara - Working Capital II 40,000$

MOST Energy Exhibit Capital II 180,000$

Regatta Center Saratoga Capital 42,000$

Subtotal 817,450$

New York Works Economic Development Fund

Inficon Capital 1,000,000$

ALCOA Capital 23,000,000$


NYPA Craft Beverage Marketing Program

NYCA-Glynwood Working Capital 24,900$

Clayton LDC Craft Beverage Working Capital 182,000$

Finger Lakes Wine Alliance Working Capital 77,840$

Hudson Valley Hard Cider - Working Capital 95,085$

3rd Annual Craft New York Brewer's Festival Working Capital 24,900$

Subtotal 404,725$

Regional Council Capital Fund

Cold Spring Harbor Lab Capital 2,000,000$

Niagara Wine Trail Capital 30,000$

Community Memorial Hospital Capital 250,000$

Northern Westchester Hospital Association Capital 1,000,000$

Toptica Photonics Capital 120,000$

We Care Transportation Capital 460,000$

Stony Brook University High Performance Computing Capital 1,000,000$

Johnston Paper Capital 300,000$

Griffiss Institute Capital 1,100,000$

MVEDGE Sewer Crossing Capital 700,000$

Herkimer NYSARC Capital 250,000$

Watkins Glen Senior Housing Capital 900,000$

MOST Energy Exhibit Capital I 100,000$

Craft Food & Beverage Center Capital 60,000$

Clinician Education and Simulation Lab Capital 2,500,000$

Association for Vision Rehabilitation and Employment Capital 500,000$

Flight of Five Restoration 1,315,493$

Painted Post Trail Capital 46,400$

Historic Hudson River Towns Capital 250,000$

North County Transformational Tourism Fund 3,000,000$





Restore New York Communities Initiative

Hoosick - RESTORE - 9 Main Street 650,000$

Subtotal 650,000$

Transformative Investment Program

BNL EIC Science Big Data 15,000,000$


Urban and Community Development Program

Ogdensburg Blueway Trail Feasibility - Working Capital 25,000$

City of Peekskill Feasibility Study - Working Capital 52,500$

Penn Yan Strategic Planning – Working Capital 40,000$

Shalimar Properties - Working Capital 25,000$

Subtotal 142,500$

Total 86,486,838$


Cumulative Summary of Disbursements by Appropriation: Project List (p. 1)


Disbursement

During

Q1 2016-17

Buffalo Regional Innovation Cluster

43North LLC Working Capital 1,000,000$ 250,000$

Athenex Capital 25,000,000$ 25,000,000$

BNMC Kaleida Capital 15,000,000$ 5,000,000$

Subtotal 41,000,000$ 30,250,000$

Community Development Financial Institution

ACCION East - CAMBA Partnership CDFI 16 125,000$ 62,500$

Accion/ CAMBA CDFI 17 147,000$ 75,000$

AEDC CDFI 17 75,000$ 37,500$

BCNA CDFI 17 100,000$ 49,960$

BOC Capital CDFI 16 95,000$ 13,534$

Brooklyn Cooperative CDFI 17 100,000$ 50,000$

Brooklyn Cooperative FCU- CDFI 16 85,000$ 42,500$

Business Consortium Fund CDFI 16 50,000$ 9,224$

CCNY CDFI 17 85,000$ 42,500$

Chautauqua CDFI 17 65,000$ 32,500$

Chautauqua Opportunities for Development CDFI 16 70,000$ 19,247$

CLFCR CDFI 17 95,000$ 47,500$

Community Capital New York CDFI 16 85,000$ 42,500$

Community Loan Fund of the Capital Region CDFI 16 90,000$ 45,000$

Credit Inc CDFI 14 30,000$ 3,000$

Federation CDFI 17 85,000$ 42,500$

Grameen America CDFI 16 95,000$ 95,000$

Greater Jamaica LDC CDFI 16 70,000$ 35,000$

HCC CDFI 17 70,000$ 35,000$

La Fuerza Unida CDFI 16 70,000$ 35,000$

LES PFCU CDFI 17 90,000$ 45,000$

LISBAC CDFI 17 62,000$ 31,000$

Neighborhood Trust CDFI 17 60,000$ 30,000$

Pathstone CDFI 17 95,000$ 47,500$

Renaissance CDFI 17 99,000$ 49,500$

Spring Bank CDFI 17 80,000$ 40,000$

TruFund CDFI 17 87,000$ 43,500$

TRUFUND Financial Services CDFI 16 85,000$ 85,000$

WHIDC CDFI 17 87,000$ 43,500$

Subtotal 2,432,000$ 1,229,965$

Economic Development Purposes Fund

Adirondack Teleworks Training Working Capital 100,000$ 79,004$

C’ville Yoghurt Capital 500,000$ 250,000$

Chocolate Pizza Company 45,000$ 22,500$

Closing the Gap: Classroom to Career Program Working Capital 100,000$ 53,470$

Crystal Run Healthcare Capital 1,000,000$ 333,333$

NYC Seedstart Working Capital 550,000$ 73,044$

Westchester Community College Foundation Working Capital 100,000$ 23,957$

Xylem Capital 1,000,000$ 793,750$

Subtotal 3,395,000$ 1,629,058$




Disbursement

During

Q1 2016-17

Economic Transformation Program

MVEDGE - Marcy Nanocenter - Phase 1A Capital 5,000,000$ 1,458,802$

Subtotal 5,000,000$ 1,458,802$

Empire State Economic Development Fund

210 Walnut Street Capital 480,000$ 288,000$

Broome County IDA - Indian Valley Industries, Inc. Capital 728,500$ 719,933$

Bush Industries Capital 900,000$ 225,000$

Delaware County IDA/Amphenol Capital 750,000$ 750,000$

FAGE USA Capital 780,000$ 780,000$

Genesee County IDA STAMP 1,371,486$ 1,371,486$

Karp Capital 100,000$ 50,000$

Mechoshade Systems Capital 600,000$ 150,000$

New York Container Terminal Working Capital 15,000,000$ 1,500,000$

Novelis Capital 5,000,000$ 1,250,000$

NUAIR Working Capital 600,000$ 176,347$

Rochester Precision Optics Capital 543,750$ 168,750$

Seal & Design Capital 230,000$ 57,500$

Strippit Capital 200,000$ 170,020$

Surmotech Capital 200,000$ 200,000$

TMP Acquisitions Capital 250,000$ 187,500$

Universal Photonics & JH Rhodes Capital 150,000$ 112,500$

Subtotal 27,883,736$ 8,157,036$




Disbursement

During

Q1 2016-17

Entrepreneurial Assistance Program

EAP-Veteran Business Assistance Center (Adirondack EDC) 42,000$ 37,800$

EAP-Veteran Business Assistance Center (Capital Chamber/ Albany-Colonie) 42,000$ 37,800$

EAP-Veteran Business Assistance Center (Renaissance EDC) 42,000$ 37,800$

EAP-Veteran Business Assistance Center (Suffolk County Comm. Coll.) 42,000$ 37,800$

Entrepreneurial Assistance Program Center (ACCORD CORP) 15-16 88,000$ 58,960$

Entrepreneurial Assistance Program Center (AEDC) 15-16 88,000$ 58,960$

Entrepreneurial Assistance Program Center (Bedford Stuyvesant Rest.) 15-16 88,000$ 58,960$

Entrepreneurial Assistance Program Center (Business Training Inst.) 15-16 88,000$ 58,960$

Entrepreneurial Assistance Program Center (CAMBA) 15-16 88,000$ 58,960$

Entrepreneurial Assistance Program Center (Capital Chamber) 15-16 88,000$ 58,960$

Entrepreneurial Assistance Program Center (Hofstra Univ.) 15-16 88,000$ 58,960$

Entrepreneurial Assistance Program Center (Hot Bread Kitchen) 15-16 77,000$ 51,590$

Entrepreneurial Assistance Program Center (Hunts Point EDC) 14-15 88,000$ 27,538$

Entrepreneurial Assistance Program Center (IBERO/Waverly) 15-16 88,000$ 58,960$

Entrepreneurial Assistance Program Center (Project Enterprise) 14-15 88,000$ 3,879$

Entrepreneurial Assistance Program Center (QEDC) 14-15 88,000$ 43,000$

Entrepreneurial Assistance Program Center (Queens EDC) 15-16 88,000$ 58,960$

Entrepreneurial Assistance Program Center (Renaissance EDC) 15-16 88,000$ 58,960$

Entrepreneurial Assistance Program Center (SOBRO) 15-16 88,000$ 58,960$

Entrepreneurial Assistance Program Center (St. Nicks) 14-15 88,000$ 86,800$

Entrepreneurial Assistance Program Center (Suffolk CC) 14-15 88,000$ 80,340$

Entrepreneurial Assistance Program Center (Suffolk CC) 15-16 88,000$ 58,960$

Entrepreneurial Assistance Program Center (Syracuse Univ.) 15-16 88,000$ 58,960$

Entrepreneurial Assistance Program Center (Urban League RNY) 15-16 88,000$ 58,960$

Entrepreneurial Assistance Program Center (Urban League) 14-15 88,000$ 29,938$

Entrepreneurial Assistance Program Center (Women's Enterprise- W) 15-16 88,000$ 58,960$

Subtotal 2,093,000$ 1,358,685$

Market New York Program

Catskill Interpretive Center & Visitor Information Gateway Working Capital 49,500$ 16,922$

CNY Arts Economic Development Working Capital 100,000$ 100,000$

Finger Lakes Vacation Region Market Analysis Working Capital 100,000$ 66,000$

Haunted History Trail of New York State Working Capital 40,000$ 39,821$

Kaaterskill Clove-Working Capital 150,000$ 139,714$

Lakes to Locks Passage Geotourism Working Capital 100,000$ 11,660$

Long Island Wine Council Global Trade and Tourism Working Capital 285,000$ 99,090$

New York Golf Trail International Working Capital 100,000$ 88,786$

Proctors We Are Broadway Working Capital 150,000$ 150,000$

River Crossing Creative Marketing Working Capital 200,000$ 200,000$

Windham Mountain Bike World Cup Working Capital 247,875$ 246,222$

Wine Water and Wonders Working Capital 210,000$ 50,085$

Subtotal 1,732,375$ 1,208,300$




Disbursement

During

Q1 2016-17

New York Works Economic Development Fund

Connecting the North Country Region 812,000$ 183,657$

Ford Stamping Plant Capital 5,000,000$ 5,000,000$

MTC Broadband Build Out 1,800,000$ 187,393$

Open Access Fiber Network 2,407,049$ 270,896$

TWC Broadband 5,258,231$ 5,258,231$

Utica Memorial Auditorium Capital IV 1,000,000$ 624,293$

Subtotal 16,277,280$ 11,524,470$

New York Power Authority Fund

ALCOA Massena working capital 20,600,000$ 3,500,000$

Subtotal 20,600,000$ 3,500,000$

NYPA Craft Beverage Program

Brooklyn Alliance Craft Beverage 250,000$ 137,703$

Finger Lakes Culinary Bounty 49,900$ 33,257$

NYS Wine and Grape Foundation 243,000$ 243,000$

Subtotal 542,900$ 413,960$




Disbursement

During

Q1 2016-17

Regional Council Capital Fund

Adirondack Barrel Cooperage Capital 60,000$ 60,000$

Bo-Mer Plastics Capital 100,000$ 25,000$

Browder's Birds Capital 61,375$ 30,687$

Curran Renewable Energy Capital 168,000$ 168,000$

Efco Products Capital 80,000$ 80,000$

Field Goods Local Distribution Capital 100,000$ 50,000$

Globe Grinding ADDAPT Capital 141,820$ 141,820$

Growing the Agricultural Industry Now! ("GAIN") Capital 3,000,000$ 1,200,000$

Historic Hollywood Theater Capital 166,667$ 23,129$

Hofstra University Labs Capital II 1,000,000$ 1,000,000$

LeMoyne College Science Capital 2,000,000$ 2,000,000$

Living Learning Center Capital 1,775,000$ 1,775,000$

Long Lake Next Generation Broadband 1,370,306$ 51,787$

MARK Project Capital 250,000$ 62,500$

Midtown Tower Capital 4,000,000$ 1,000,000$

MPI Consulting ADDAPT Capital 112,290$ 112,290$

MTC Cable Wireless Broadband Expansion Project Phase II 320,520$ 3,809$

MVEDGE - Marcy Nanocenter - Phase 1B Capital 3,250,000$ 1,644,230$

North Country Cultural Center for the Arts Capital-priority project 250,000$ 62,500$

North Country Public Emergency Network 2,222,000$ 1,082,511$

North Country Redevelopment Fund 5,000,000$ 1,000,000$

NW Family YMCA Capital 985,000$ 492,500$

Precipart ADDAPT Capital 200,000$ 200,000$

Primo Property Management Capital 800,000$ 800,000$

R.S. Precision Industries ADDAPT Capital 54,000$ 54,000$

Rowland House Capital 250,000$ 250,000$

Smart Cities Technology Innovation Center Capital 2,625,000$ 400,000$

Smart Grid 3 Capital 1,700,000$ 307,500$

Southern Tier High Technology Incubator Capital 7,000,000$ 1,000,000$

Ticonderoga Water Sewer Infrastructure Capital 177,286$ 111,085$

Utica Memorial Auditorium Capital III 700,000$ 261,636$

Village of Heuvelton Wastewater improvements Capital 500,000$ 500,000$

Westmoreland Ambulatory Surgery Center Capital 400,000$ 400,000$

Wild Walk Phase II Capital 250,000$ 250,000$

Subtotal 41,069,264$ 16,599,984$




Disbursement

During

Q1 2016-17

Restore New York Communities Initiative

Plattsburgh - RESTORE III - Imperial Industrial Park 2,500,000$ 413,955$

Poughkeepsie - RESTORE III - Academy Street 2,395,000$ 45,721$

Subtotal 4,895,000$ 459,676$

Upstate Regional Blueprint Fund

Midtown Tower URB Capital 1,200,000$ 300,000$

Premier Aviation URB Capital 500,000$ 100,000$

Subtotal 1,700,000$ 400,000$

Urban and Community Development Program

Brooklyn Navy Yard/Macro Sea New Lab Capital 1,250,000$ 310,553$

ConAgra Plant Re-Use Feasibility Study 73,000$ 3,966$

Farm On Foundation Hudson Valley Market Study 30,000$ 10,000$

Fresh Direct UCDP Capital 9,000,000$ 3,000,000$

Waterloo Strategic Planning - Working Capital 20,000$ 20,000$

Subtotal 10,373,000$ 3,344,518$

Total 178,993,555$ 81,534,455$


SECTION 2: GEOGRAPHIC DISTRIBUTION OF APPROVED PROJECTS

Region Approved Projects Total Commitments

Capital 5 Projects $1,066,900

Central 6 Projects $2,105,000

Finger Lakes 8 Projects $6,989,290

Long Island 5 Projects $23,620,000

Mid-Hudson 6 Projects $1,478,485

Mohawk Valley 5 Projects $7,110,000

North Country 6 Projects $26,410,270

Southern Tier 3 Projects $1,446,400

Western New York 10 Projects $16,260,493

TOTAL 54 Projects $86,486,838


Geographic Distribution of Approved Projects: Project List (p. 1)

Region Total Commitment County

Capital Region

3rd Annual Craft New York Brewer's Festival Working Capital 24,900$ Albany

Centrotherm Eco Systems Capital 100,000$ Albany

GreenRenewable Capital 250,000$ Rensselaer

Hoosick - RESTORE - 9 Main Street 650,000$ Rensselaer

Regatta Center Saratoga Capital 42,000$ Saratoga

Subtotal 1,066,900$

Central Region

Community Memorial Hospital Capital 250,000$ Madison

Inficon Capital 1,000,000$ Onondaga

JADAK Capital 250,000$ Onondaga

Johnston Paper Capital 300,000$ Cayuga

MOST Energy Exhibit Capital I & II (2 Commitments) 280,000$ Onondaga

Shalimar Properties - Working Capital 25,000$ Onondaga

Subtotal 2,105,000$

Finger Lakes Region

Advanced Atomization Technologies 500,000$ Seneca

Finger Lakes Wine Alliance Working Capital 77,840$ Ontario

Intergrow Webster JDA 5,700,000$ Monroe

Letchworth Nature Center Capital 100,000$ Genesee

OANB Capital 300,000$ Livingston

Penn Yan Strategic Planning – Working Capital 40,000$ Yates

Strong Museum of Play Working Capital 151,450$ Monroe

Toptica Photonics Capital 120,000$ Ontario

Subtotal 6,989,290$

Long Island Region

BNL EIC Science Big Data 15,000,000$ Suffolk

Clinician Education and Simulation Lab Capital 2,500,000$ Nassau

Cold Spring Harbor Lab Capital 2,000,000$ Nassau

Precare JDA 3,120,000$ Suffolk

Stony Brook University High Performance Computing Capital 1,000,000$ Suffolk





Mid Hudson Region

City of Peekskill Feasibility Study - Working Capital 52,500$ Westchester

Historic Hudson River Towns Capital 250,000$ Westchester

Hudson Valley Hard Cider - Working Capital 95,085$ Dutchess

Northern Westchester Hospital Association Capital 1,000,000$ Westchester

NYCA-Glynwood Working Capital 24,900$ Putnam

Phoenicia Festival of the Voice Working Capital 56,000$ Ulster

Subtotal 1,478,485$

Mohawk Valley Region

Craft Food & Beverage Center Capital 60,000$ Otsego

Griffiss Institute Capital 1,100,000$ Oneida

Herkimer NYSARC Capital 250,000$ Herkimer

MVEDGE Nano Utica Capital 5,000,000$ Oneida

MVEDGE Sewer Crossing Capital 700,000$ Oneida

Subtotal 7,110,000$

North Country Region

ALCOA Capital 23,000,000$ St. Lawrence

Clayton LDC Craft Beverage Working Capital 182,000$ Jefferson

Farnborough Air Show Working Capital 80,270$ Clinton

Lakes to Locks Working Capital 123,000$ Essex

North County Transformational Tourism Fund 3,000,000$ Jefferson

Ogdensburg Blueway Trail Feasibility - Working Capital 25,000$ St. Lawrence


Southern Tier Region

Association for Vision Rehabilitation and Employment Capital 500,000$ Broome

Painted Post Trail Capital 46,400$ Chemung

Watkins Glen Senior Housing Capital 900,000$ Schuyler

Subtotal 1,446,400$

Western New York Region

43North LLC Working Capital 1,040,000$ Erie

Columbus McKinnon Capital 340,000$ Erie

Flight of Five Restoration 1,315,493$ Niagara

Hanson Sign Companies Capital 70,000$ Chautauqua

Niagara Wine Trail Capital 30,000$ Niagara

Northland Corridor Redevelopment and WNY Workforce Training Center Capital 10,300,000$ Erie

UH Lofts – CB Emmanuel Realty Capital 2,000,000$ Erie

Visit Buffalo Niagara - Working Capital I 125,000$ Erie

Visit Buffalo Niagara - Working Capital II 40,000$ Erie

We Care Transportation Capital I & II (2 Commitments) 1,000,000$ Erie


Total 86,486,838$




Southern Tier Region

Association for Vision Rehabilitation and Employment Capital 500,000$ Broome

Painted Post Trail Capital 46,400$ Chemung

Watkins Glen Senior Housing Capital 900,000$ Schuyler

Subtotal 1,446,400$


43North LLC Working Capital 1,040,000$ Erie

Columbus McKinnon Capital 340,000$ Erie

Flight of Five Restoration 1,315,493$ Niagara

Hanson Sign Companies Capital 70,000$ Chautauqua

Niagara Wine Trail Capital 30,000$ Niagara

Northland Corridor Redevelopment and WNY Workforce Training Center Capital 10,300,000$ Erie

UH Lofts – CB Emmanuel Realty Capital 2,000,000$ Erie

Visit Buffalo Niagara - Working Capital I 125,000$ Erie

Visit Buffalo Niagara - Working Capital II 40,000$ Erie

We Care Transportation Capital I & II (2 Commitments) 1,000,000$ Erie


Total 86,486,838$


SECTION 3: JOB CREATION AND RETENTION

Number Initial Retained Created Total Region of Projects Jobs Jobs Jobs Jobs

Capital 5 29 29 70 99 Central 6 728 728 124 852 Finger Lakes 8 360 360 151 511 Long Island 5 992 992 84 1,076 Mid-Hudson 6 1,036 1,036 116 1,152 Mohawk Valley 5 7 7 26 33 North Country 6 600 600 0 600 Southern Tier 3 54 54 6 60 Western New York 10 361 361 112 473 Total 54 4,167 4,167 689 4,856

Please note the following:

Approved projects in certain programs (e.g. Restore New York Communities Initiative, Community Development Financial Institution Program, Regional Council Capital Fund, Urban and Community Development Program) or for certain purposes (e.g. worker training, marketing, research and development, loan funds, infrastructure) are intended to enhance productivity, afford access to capital for smaller or disadvantaged businesses, advance targeted industries or regional priorities, or improve infrastructure or communities. In these instances, job creation is not a primary goal and thus is not tracked.

Initial Jobs is the baseline employment number.

Retained Jobs indicates when some or all of a company’s jobs were in jeopardy of being lost, typically through plant closures or companies moving out of the state.

Created Jobs indicates anticipated job growth over a one- to five-year horizon.


Job Creation and Retention: Project List (p. 1)

Project Name Total Assistance Initial Retained Created Total

Capital Region

3rd Annual Craft New York Brewer's Festival Working Capital 24,900$ 0 0 0 0

Centrotherm Eco Systems Capital 100,000$ 11 11 35 46

GreenRenewable Capital 250,000$ 18 18 35 53

Hoosick - RESTORE - 9 Main Street 650,000$ 0 0 0 0

Regatta Center Saratoga Capital 42,000$ 0 0 0 0

Subtotal 1,066,900$ 29 29 70 99

Central Region

Community Memorial Hospital Capital 250,000$ 277 277 3 280

Inficon Capital 1,000,000$ 240 240 40 280

JADAK Capital 250,000$ 101 101 61 162

Johnston Paper Capital 300,000$ 110 110 20 130

MOST Energy Exhibit Capital I & II (2 Commitments) 280,000$ 0 0 0 0

Shalimar Properties - Working Capital 25,000$ 0 0 0 0

Subtotal 2,105,000$ 728 728 124 852

Finger Lakes Region

Advanced Atomization Technologies 500,000$ 317 317 87 404

Finger Lakes Wine Alliance Working Capital 77,840$ 0 0 0 0

Intergrow Webster JDA 5,700,000$ 0 0 0 0

Letchworth Nature Center Capital 100,000$ 0 0 0 0

OANB Capital 300,000$ 37 37 53 90

Penn Yan Strategic Planning – Working Capital 40,000$ 0 0 0 0

Strong Museum of Play Working Capital 151,450$ 0 0 0 0

Toptica Photonics Capital 120,000$ 6 6 11 17

Subtotal 6,989,290$ 360 360 151 511

Long Island Region

BNL EIC Science Big Data 15,000,000$ 0 0 0 0

Clinician Education and Simulation Lab Capital 2,500,000$ 0 0 8 8

Cold Spring Harbor Lab Capital 2,000,000$ 901 901 30 931

Precare JDA 3,120,000$ 80 80 35 115

Stony Brook University High Performance Computing Capital 1,000,000$ 11 11 11 22

Subtotal 23,620,000$ 992 992 84 1,076


Job Creation and Retention: Project List (p. 2)

Project Name Total Assistance Initial Retained Created Total

Mid Hudson Region

City of Peekskill Feasibility Study - Working Capital 52,500$ 0 0 0 0

Historic Hudson River Towns Capital 250,000$ 0 0 0 0

Hudson Valley Hard Cider - Working Capital 95,085$ 0 0 0 0

Northern Westchester Hospital Association Capital 1,000,000$ 1,036 1,036 116 1,152

NYCA-Glynwood Working Capital 24,900$ 0 0 0 0

Phoenicia Festival of the Voice Working Capital 56,000$ 0 0 0 0

Subtotal 1,478,485$ 1,036 1,036 116 1,152

Mohawk Valley Region

Craft Food & Beverage Center Capital 60,000$ 0 0 3 3

Griffiss Institute Capital 1,100,000$ 0 0 0 0

Herkimer NYSARC Capital 250,000$ 7 7 23 30

MVEDGE Nano Utica Capital 5,000,000$ 0 0 0 0

MVEDGE Sewer Crossing Capital 700,000$ 0 0 0 0

Subtotal 7,110,000$ 7 7 26 33

North Country Region

ALCOA Capital 23,000,000$ 700 600 0 600

Clayton LDC Craft Beverage Working Capital 182,000$ 0 0 0 0

Farnborough Air Show Working Capital 80,270$ 0 0 0 0

Lakes to Locks Working Capital 123,000$ 0 0 0 0

North County Transformational Tourism Fund 3,000,000$ 0 0 0 0

Ogdensburg Blueway Trail Feasibility - Working Capital 25,000$ 0 0 0 0

Subtotal 26,410,270$ 600 600 0 600

Souther Tier Region

Association for Vision Rehabilitation and Employment Capital 500,000$ 54 54 6 60

Painted Post Trail Capital 46,400$ 0 0 0 0

Watkins Glen Senior Housing Capital 900,000$ 0 0 0 0

Subtotal 1,446,400$ 54 54 6 60


43North LLC Working Capital 1,040,000$ 0 0 0 0

Columbus McKinnon Capital 340,000$ 127 127 10 137

Flight of Five Restoration 1,315,493$ 0 0 0 0

Hanson Sign Companies Capital 70,000$ 34 34 2 36

Niagara Wine Trail Capital 30,000$ 0 0 0 0

Northland Corridor Redevelopment and WNY Workforce Training Center Capital 10,300,000$ 0 0 0 0

UH Lofts – CB Emmanuel Realty Capital 2,000,000$ 0 0 0 0

Visit Buffalo Niagara - Working Capital I 125,000$ 0 0 0 0

Visit Buffalo Niagara - Working Capital II 40,000$ 0 0 0 0

We Care Transportation Capital I & II (2 Commitments) 1,000,000$ 200 200 100 300

Subtotal 16,260,493$ 361 361 112 473

Total 86,486,838$ 4,167 4,167 689 4,856


SECTION 4: IMPACT OF APPROVED PROJECTS ON DISTRESSED URBAN

AND RURAL COMMUNITIES, SMALL- AND MEDIUM-SIZED

BUSINESSES AND STRATEGIC INDUSTRIES

For each project with funding exceeding $100,000 and the goal of creating or retaining jobs, ESD staff prepares an analysis of the benefits and costs that accrue to New York State based on income and sales tax revenues that are expected to be generated by direct and indirect jobs (e.g. construction). Summary information is provided below, and the attached Project Lists indicate this information where relevant (projects without construction or job creation indicate “N/A”). Individual analyses are attached in the appendix.

Distressed Urban and Rural Communities Of the 53 recipients of funding approved by the ESD Directors in the 1st Quarter of Fiscal Year 2016-17, 11 recipients (20%) were located in distressed communities. Of these 11 recipients,

7 (13% of total funding recipients) were located in a distressed rural community 4 (7% of total funding recipients) were located in distressed urban communities

Small- and Medium-sized Businesses Of the 53 recipients of funding approved by the ESD Directors in the 1st Quarter of Fiscal Year 2016-17, 21 (36%) were small or medium-sized businesses or organizations.

Strategic Industries Of the 54 projects approved by the ESD Directors in the 1st Quarter of Fiscal Year 2016-17, the following industries were represented:

Industry Percentage of Total Funding # of Project(s)

Education 4% 2

Energy 0.2% 1

Food & Beverage Manufacturing/Distribution 0.3% 1

Health 1.4% 2

Machinery & Miscellaneous Manufacturing 30% 10

Municipal /Government/Not-For-Profit 26% 15 Real Estate Development 13% 4 Science & Technology 20% 3 Tourism/Hospitality 5.1% 16

Please note the following:

To determine if a project is in a distressed area, Department of Labor information was used to determine whether the county’s unemployment rate was above 5.3% (the New York State unemployment average for the year 2015). Projects located in an Empire Zone, a Federally-designated Enterprise Community or a Federally-designated Empowerment Zone are also included. ”Urban” projects are located in New York State’s 62 designated cities; other projects are considered “Rural.”

A company is considered small- or medium-sized if it employs fewer than 500 persons.


Distressed Rural and Urban Communities: Project List

Rural Benefit Cost

ALCOA Capital 71,176,050$ 43,600,000$

Clinician Education and Simulation Lab Capital N/A N/A

Hanson Sign Companies Capital 1,070,451$ 70,000$

Hoosick - RESTORE - 9 Main Street N/A N/A

JADAK Capital 3,459,783$ 250,000$

Letchworth Nature Center Capital 109,731$ 100,000$

Regatta Center Saratoga Capital N/A N/A

Subtotal 75,816,015$ 44,020,000$

Urban Benefit Cost

3rd Annual Craft New York Brewer's Festival Working Capital N/A N/A

Association for Vision Rehabilitation and Employment Capital 3,131,555$ 500,000$

Northland Corridor Redevelopment and WNY Workforce Training Center Capital N/A N/A

Ogdensburg Blueway Trail Feasibility - Working Capital N/A N/A

Subtotal 3,131,555$ 500,000$

Total 78,947,570$ 44,520,000$


Small and Medium-Sized Business: Project List

Project Name Benefit Cost


43North LLC Working Capital N/A N/A

Advanced Atomization Technologies 13,745,656$ 1,148,777$


Centrotherm Eco Systems Capital 1,501,485$ 100,000$

Finger Lakes Wine Alliance Working Capital N/A N/A

GreenRenewable Capital 1,542,329$ 250,000$


Hudson Valley Hard Cider - Working Capital N/A N/A

Inficon Capital 13,677,922$ 2,500,000$

Intergrow Webster JDA N/A N/A

JADAK Capital 3,459,783$ 250,000$

Johnston Paper Capital 2,881,080$ 300,000$

Lakes to Locks Working Capital N/A N/A

Letchworth Nature Center Capital N/A N/A

Niagara Wine Trail Capital 3,427$ 30,000$

NYCA-Glynwood Working Capital N/A N/A

OANB Capital 3,442,920$ 300,000$

Phoenicia Festival of the Voice Working Capital N/A N/A

Precare JDA N/A N/A


Strong Museum of Play Working Capital 2,341,694$ 151,450$

Toptica Photonics Capital 1,347,589$ 120,000$

UH Lofts – CB Emmanuel Realty Capital 1,767,609$ 2,000,000$

Visit Buffalo Niagara - Working Capital I (2 Commitments) N/A N/A

Watkins Glen Senior Housing Capital 768,836$ 900,000$

We Care Transportation Capital (2 Commitments) 7,102,320$ 1,000,000$

Total 57,784,656$ 9,620,227$


Strategic Industries: Project List (p. 1)


Education

Clinician Education and Simulation Lab Capital N/A N/A

Stony Brook University High Performance Computing Capital 1,832,987$ 1,000,000$

Subtotal 1,832,987$ 1,000,000$

Energy


Subtotal 1,542,329$ 250,000$

Food & Beverage Manufacturing/Distribution

OANB Capital 3,442,920$ 300,000$

Subtotal 3,442,920$ 300,000$

Healthcare

Community Memorial Hospital Capital 5,088,322$ 250,000$

Northern Westchester Hospital Association Capital N/A N/A

Subtotal 5,088,322$ 250,000$

Machinery & Miscellaneous Manufacturing


ALCOA Capital 71,176,050$ 43,600,000$


Centrotherm Eco Systems Capital N/A N/A

Columbus McKinnon Capital N/A N/A


Inficon Capital 13,667,922$ 2,500,000$

JADAK Capital 3,459,783$ 250,000$



Subtotal 110,480,086$ 48,488,777$




Municipal /Government/Not-For-Profit

43North LLC Working Capital N/A N/A

Northland Corridor Redevelopment and WNY Workforce Training Center Capital N/A N/A

Flight of Five Restoration 105,271$ 1,315,493$

Ogdensburg Blueway Trail Feasibility - Working Capital N/A N/A

NYCA-Glynwood Working Capital N/A N/A

Griffiss Institute Capital N/A N/A

MVEDGE Nano Utica Capital 325,198$ 5,000,000$

MVEDGE Sewer Crossing Capital 260,995$ 700,000$

Herkimer NYSARC Capital 403,073$ 250,000$

We Care Transportation I & II Capital (2 Commitments) N/A N/A

City of Peekskill Feasibility Study - Working Capital N/A N/A

Hoosick - RESTORE - 9 Main Street N/A N/A

Painted Post Trail Capital 13,277$ 46,400$

Penn Yan Strategic Planning – Working Capital N/A N/A


Subtotal 1,876,650$ 8,211,893$

Real Estate Development

Precare JDA N/A N/A

Shalimar Properties - Working Capital N/A N/A


Intergrow Webster JDA N/A N/A

Subtotal 1,767,609$ 2,000,000$

Science & Tecnology

BNL EIC Science Big Data N/A N/A

Cold Spring Harbor Lab Capital 2,862,865$ 2,000,000$

MOST Energy Exhibit Capital I & II N/A N/A

Subtotal 2,862,865$ 2,000,000$




Tourism

Clayton LDC Craft Beverage Working Capital N/A N/A

North County Transformational Tourism Fund N/A N/A

Finger Lakes Wine Alliance Working Capital N/A N/A

Hudson Valley Hard Cider - Working Capital N/A N/A

Craft Food & Beverage Center Capital 67,707$ 60,000$

Historic Hudson River Towns Capital N/A N/A

Lakes to Locks Working Capital N/A N/A





Phoenicia Festival of the Voice Working Capital N/A N/A

Farnborough Air Show Working Capital N/A N/A

Visit Buffalo Niagara - Working Capital I N/A N/A

Visit Buffalo Niagara - Working Capital II N/A N/A


Subtotal 2,522,559$ 341,450$

Total 131,416,327$ 62,842,120$


APPENDIX: FISCAL BENEFIT TO COST EVALUATIONS

Where impact was quantifiable, the projects that were analyzed yield an overall Fiscal Benefit to Cost ratio of 1:2.32. This means that for each dollar of New York State government subsidy, such as tax exemptions or abatements on sales, property and interest income, there was a return to the tax base of $2.32

Total Projects

Please note the following: Benefit Cost Evaluations are used in evaluating projects that are categorized as Business

Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. Unlike typical ESD Business Investment projects, which involve direct job creation and retention, Infrastructure Investment (e.g. the development or expansion of basic systems and facilities, including transportation, water and sewer, communication, energy generation and distribution, and parking facilities) and Economic Growth Investment (e.g. projects that foster economic growth through cultural activity, higher education activity, regional revolving loan and grant programs,



ALCOA Capital 71,176,050$ 43,600,000$


Centrotherm Eco Systems Capital 1,501,485$ 100,000$

Cold Spring Harbor Lab Capital 2,862,865$ 2,000,000$

Columbus McKinnon Capital 12,218,329$ 880,000$

Community Memorial Hospital Capital 5,088,322$ 250,000$

Craft Food & Beverage Center Capital 67,707$ 60,000$

Flight of Five Restoration 105,271$ 1,315,493$


Griffiss Institute Capital 366,814$ 1,100,000$


Herkimer NYSARC Capital 403,073$ 250,000$

Historic Hudson River Towns Capital 49,658$ 250,000$

Inficon Capital 13,667,922$ 2,500,000$

JADAK Capital 3,459,783$ 250,000$



MVEDGE Nano Utica Capital 325,198$ 5,000,000$

MVEDGE Sewer Crossing Capital 260,995$ 700,000$


Northern Westchester Hospital Association Capital 3,714,989$ 1,000,000$

OANB Capital 3,442,920$ 300,000$

Painted Post Trail Capital 13,277$ 46,400$

Stony Brook University High Performance Computing Capital 1,832,987$ 1,000,000$





We Care Transportation Capital I & II (2 Commitments) 7,102,320$ 1,000,000$

Total 156,369,922$ 67,172,120$


other local or regional initiatives, agribusiness initiatives, marketing activities, training or education programs, or technical assistance) may not involve permanent job commitments. Such projects generate long-term benefits not captured in the period of analysis. This is reflected in the Benefit Cost Evaluations as compared to benchmarks developed for Infrastructure Investment and Economic Growth Investment projects.

For funding awards under $100,000, only the total benefit is provided rather than a full

evaluation.

Project Summary Benefit-Cost Evaluation1

Advanced Atomization Technologies LLC – Business Investment Benefit-Costs Evaluations are used in evaluating projects that are categorized as Business Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. For Business Investment projects, benefits reported in the table below typically reflect the impact of both jobs and construction-related activity. For Infrastructure Investment and Economic Growth Investment projects, which generate long-term benefits not captured in the period of analysis and may involve no permanent job commitments, the table typically reflects only construction-related activity. Benchmarks for each type of project are noted in the footnotes.

Initial Jobs: 317 Construction Job Years (Direct): 45 New Jobs: 87 over five years Construction Job Years (Indirect): 28

Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks2 State & Local Government

Government Benchmarks

Fiscal Costs3 $1,148,777 $794,250 $1,148,777 $1,020,500

Fiscal Benefits4 $13,745,656 $2,085,600 $23,660,174 $4,271,980

Fiscal Cost /Direct Job $5,558 $3,000 $5,558 $4,110

Fiscal Cost/Total Jobs $3,167 $1,424 $3,167 $1,964

Fiscal B/C Ratio 11.97 7.00 20.60 10.60

Project Benchmarks

Results

Economic Benefits5 $141,096,031 $119,468,000

Econ. Benefits/Total Jobs $388,941 $147,600

Economic B/C Ratio 122.82 75.00

1 Dollar values are present value calculated over a 7-year period. Separate evaluations are made and reported for New

York State government assistance alone and for State and Local government. 2 The current project evaluation results (both fiscal and economic) are compared to performance measure

benchmarks based on results of a sample of ESD non-retail projects. Business Investment project benchmarks are 7.00 (Fiscal) and 75.00 (Economic). Infrastructure Investment (or Economic Growth Investment) project benchmarks are 3.00 (Fiscal) and 30.00 (Economic). 3 Fiscal cost includes the value of grants, loans and associated default risks, and discretionary subsidies (such as tax

exemptions or abatements on sales, property, and interest income). 4 Fiscal benefits are the loan repayments and tax revenues to New York State and Local governments generated by

project activity. This includes estimated taxes on personal incomes from project direct and indirect employment, corporate and business incomes, excise and user taxes, property taxes, and other taxes. 5 Economic benefits are estimated project benefits measuring fiscal flows to government plus net resident disposable

income from project direct and indirect employment net of transfers, without adjusting for individual income earners’ opportunity cost of employment.


ALCOA Massena Combined – Business Investment Benefit-Costs Evaluations are used in evaluating projects that are categorized as Business Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. For Business Investment projects, benefits reported in the table below typically reflect the impact of both jobs and construction-related activity. For Infrastructure Investment and Economic Growth Investment projects, which generate long-term benefits not captured in the period of analysis and may involve no permanent job commitments, the table typically reflects only construction-related activity. Benchmarks for each type of project are noted in the footnotes.

Initial Jobs: 700 Construction Job Years (Direct): 0 New Jobs: 0 over one year Construction Job Years (Indirect): 0



Fiscal Costs8 $43,600,000 $794,250 $43,600,000 $1,020,500

Fiscal Benefits (Taxes)9 $71,176,050 $2,085,600 $121,489,820 $4,271,980



Fiscal B/C Ratio 1.63 7.00 2.79 10.60

Project Benchmarks

Results

Economic Benefits10

$946,954,873 $119,468,000



6 Dollar values are present value calculated over a 7-year period. Separate evaluations are made and reported for New

York State government assistance alone and for State and Local government. 7 The current project evaluation results (both fiscal and economic) are compared to performance measure

benchmarks based on results of a sample of ESD non-retail projects. Business Investment project benchmarks are 7.00 (Fiscal) and 75.00 (Economic). Infrastructure Investment (or Economic Growth Investment) project benchmarks are 3.00 (Fiscal) and 30.00 (Economic). 8 Fiscal cost includes the value of grants, loans and associated default risks, and discretionary subsidies (such as tax

exemptions or abatements on sales, property, and interest income). 9 Fiscal benefits are the loan repayments and tax revenues to New York State and Local governments generated by

project activity. This includes estimated taxes on personal incomes from project direct and indirect employment, corporate and business incomes, excise and user taxes, property taxes, and other taxes. 10

Economic benefits are estimated project benefits measuring fiscal flows to government plus net resident disposable income from project direct and indirect employment net of transfers, without adjusting for individual income earners’ opportunity cost of employment.

Project Summary

Benefit-Cost Evaluation11

Association for Vision Rehabilitation and Employment – Business Investment Benefit-Costs Evaluations are used in evaluating projects that are categorized as Business Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. For Business Investment projects, benefits reported in the table below typically reflect the impact of both jobs and construction-related activity. For Infrastructure Investment and Economic Growth Investment projects, which generate long-term benefits not captured in the period of analysis and may involve no permanent job commitments, the table typically reflects only construction-related activity. Benchmarks for each type of project are noted in the footnotes.

Initial Jobs: 54 Construction Job Years (Direct): 3 New Jobs: 6 Over five years Construction Job Years (Indirect): 1



Fiscal Costs13

$500,000 $794,250 $500,000 $1,020,500

Fiscal Benefits14

$3,131,555 $2,085,600 $5,271,598 $4,271,980



Fiscal B/C Ratio 6.26 7.00 10.54 10.60

Project Benchmarks

Results

Economic Benefits15

$36,288,365 $119,468,000



11

Dollar values are present value calculated over a 7-year period. Separate evaluations are made and reported for New York State government assistance alone and for State and Local government. 12

The current project evaluation results (both fiscal and economic) are compared to performance measure benchmarks based on results of a sample of ESD non-retail projects. Business Investment project benchmarks are 7.00 (Fiscal) and 75.00 (Economic). Infrastructure Investment (or Economic Growth Investment) project benchmarks are 3.00 (Fiscal) and 30.00 (Economic). 13

Fiscal cost includes the value of grants, loans and associated default risks, and discretionary subsidies (such as tax exemptions or abatements on sales, property, and interest income). 14

Fiscal benefits are the loan repayments and tax revenues to New York State and Local governments generated by project activity. This includes estimated taxes on personal incomes from project direct and indirect employment, corporate and business incomes, excise and user taxes, property taxes, and other taxes. 15


Centrotherm Eco Systems Capital

Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $1,501,485, which exceed the cost to the State.

Project Summary


Cold Spring Harbor Laboratory – Business Investment Benefit-Costs Evaluations are used in evaluating projects that are categorized as Business Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. For Business Investment projects, benefits reported in the table below typically reflect the impact of both jobs and construction-related activity. For Infrastructure Investment and Economic Growth Investment projects, which generate long-term benefits not captured in the period of analysis and may involve no permanent job commitments, the table typically reflects only construction-related activity. Benchmarks for each type of project are noted in the footnotes.

Initial Jobs: 901 Construction Job Years (Direct): 78 New Jobs: 30 Over one year Construction Job Years (Indirect): 50



Fiscal Costs18

$2,000,000 $794,250 $2,000,000 $1,020,500

Fiscal Benefits19

$2,862,865 $2,085,600 $5,213,583 $4,271,980



Fiscal B/C Ratio 1.43 7.00 2.61 10.60

Project Benchmarks

Results

Economic Benefits20

$30,261,184 $119,468,000



16







Columbus McKinnon HQ – Business Investment Benefit-Costs Evaluations are used in evaluating projects that are categorized as Business Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. For Business Investment projects, benefits reported in the table below typically reflect the impact of both jobs and construction-related activity. For Infrastructure Investment and Economic Growth Investment projects, which generate long-term benefits not captured in the period of analysis and may involve no permanent job commitments, the table typically reflects only construction-related activity. Benchmarks for each type of project are noted in the footnotes.

Initial Jobs: 127 Construction Job Years (Direct): 51 New Jobs: 10 Over three year s Construction Job Years (Indirect): 32



Fiscal Costs23

$880,000 $794,250 $880,000 $1,020,500

Fiscal Benefits24

$12,218,329 $2,085,600 $21,178,811 $4,271,980



Fiscal B/C Ratio 13.88 7.00 24.07 10.60

Project Benchmarks

Results

Economic Benefits25

$153,472,172 $119,468,000



21






Community Memorial Hospital Capital Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $5,088,322, which exceed the cost to the State.

Craft Food & Beverage Center Capital

Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $67,707, which exceed the cost to the State.


Economic Growth Project

Lockport Flight of Five Restoration The benefits reported in the table reflect only the impact of construction-related activity. Unlike typical ESD projects, infrastructure and economic growth investment projects may involve no permanent job commitments. Such projects generate long term benefits not captured in the period of analysis. This is reflected in the benefit cost estimates as compared to benchmarks developed for infrastructure and economic growth investment projects.

Construction Job Years (Direct): 15 Construction Job Years (Indirect): 9

NYS Govt. State & Local

Evaluation Statistics Project Result Benchmarks for Project Results Government NYS Govt. ESD Projects27 State & Local

Governments Benchmarks for

ESD Projects

Fiscal Costs28 $1,315,493 $794,250 $1,315,493 $1,020,500

Fiscal Benefits(Taxes)29 $105,271 $2,085,600 $184,057 $4,271,980 Fiscal B/C Ratio 0.08 3.00 0.14 10.60

Benchmarks Project for ESD Results Projects



26 Dollar values are present value calculated over a 7-year period. Separate evaluations are made and reported for New York State government assistance alone and for State and Local government. 27 The current project evaluation results (both fiscal and economic) are compared to performance measure benchmarks based on results of a sample of ESD non-retail projects. 28 Fiscal cost includes the value of grants, loans and associated default risks, and discretionary subsidies (such as tax exemptions or abatements on sales, property, and interest income). 29 Fiscal benefits are the loan repayments and tax revenues to New York State and local governments generated by project activity. This includes estimated taxes on personal incomes from project direct and indirect construction employment, corporate and business incomes, excise and user taxes, property taxes, and other taxes. 30 Economic benefits are estimated project benefits measuring loan repayments and all tax revenues generated by the project and collected by state and local governments.

GreenRenewable Capital



Economic Growth Investment

Griffiss Institute

The benefits reported in the table reflect only the impact of construction-related activity. Unlike typical ESD projects, infrastructure and economic growth investment projects may involve no permanent job commitments. Such projects generate long term benefits not captured in the period of analysis. This is reflected in the benefit cost estimates as compared to benchmarks developed for infrastructure and economic growth investment projects.





ESD Projects

Fiscal Costs33 $1,100,000 $794,250 $1,100,000 $1,020,500

Fiscal Benefits34 $366,814 $2,085,600 $627,817 $4,271,980 Fiscal B/C Ratio 0.33 3.00 0.57 10.60





Hanson Sign Companies Capital


Herkimer NYSARC Capital

Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $403,073, which exceed the cost to the State.

Historic Hudson River Towns Capital

Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $49,658, which do not exceed the cost to the State.

Project Summary


Inficon, Inc. – Business Investment Benefit-Costs Evaluations are used in evaluating projects that are categorized as Business Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. For Business Investment projects, benefits reported in the table below typically reflect the impact of both jobs and construction-related activity. For Infrastructure Investment and Economic Growth Investment projects, which generate long-term benefits not captured in the period of analysis and may involve no permanent job commitments, the table typically reflects only construction-related activity. Benchmarks for each type of project are noted in the footnotes.




Fiscal Costs38

$2,500,000 $794,250 $2,500,000 $1,020,500

Fiscal Benefits39

$13,677,922 $2,085,600 $23,721,575 $4,271,980



Fiscal B/C Ratio 5.47 7.00 9.49 10.60

Project Benchmarks

Results

Economic Benefits40

$163,549,038 $119,468,000



36






JADAK Capital


Project Summary


Johnston Paper Company – Business Investment Benefit-Costs Evaluations are used in evaluating projects that are categorized as Business Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. For Business Investment projects, benefits reported in the table below typically reflect the impact of both jobs and construction-related activity. For Infrastructure Investment and Economic Growth Investment projects, which generate long-term benefits not captured in the period of analysis and may involve no permanent job commitments, the table typically reflects only construction-related activity. Benchmarks for each type of project are noted in the footnotes.




Fiscal Costs43

$300,000 $794,250 $300,000 $1,020,500

Fiscal Benefits44

$2,881,080 $2,085,600 $5,025,293 $4,271,980



Fiscal B/C Ratio 9.60 7.00 16.75 10.60

Project Benchmarks

Results

Economic Benefits45

$38,259,899 $119,468,000



41






Letchworth Nature Center Capital



Economic Growth Investment Project

Marcy MVEDGE Nano Utica Capital The benefits reported in the table reflect only the impact of construction-related activity. Unlike typical ESD projects, infrastructure and economic growth investment projects may involve no permanent job commitments. Such projects generate long term benefits not captured in the period of analysis. This is reflected in the benefit cost estimates as compared to benchmarks developed for infrastructure and economic growth investment projects.





ESD Projects

Fiscal Costs48 $5,000,000 $794,250 $5,000,000 $1,020,500

Fiscal Benefits(Taxes)49 $325,198

$2,085,600 $556,589 $4,271,980

Fiscal B/C Ratio 0.07 3.00 0.11 10.60






Infrastructure Investment Project

MVEDGE Sewer Crossing The benefits reported in the table reflect only the impact of construction-related activity. Unlike typical ESD projects, infrastructure and economic growth investment projects may involve no permanent job commitments. Such projects generate long term benefits not captured in the period of analysis. This is reflected in the benefit cost estimates as compared to benchmarks developed for infrastructure and economic growth investment projects.





ESD Projects

Fiscal Costs53 $700,000 $794,250 $700,000 $1,020,500

Fiscal Benefits(Taxes)54 $260,995

$2,085,600 $446,704 $4,271,980

Fiscal B/C Ratio 0.37 3.00 0.64 10.60





Niagara Wine Trail Capital


Project Summary


Northern Westchester Hospital Association – Business Investment Benefit-Costs Evaluations are used in evaluating projects that are categorized as Business Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. For Business Investment projects, benefits reported in the table below typically reflect the impact of both jobs and construction-related activity. For Infrastructure Investment and Economic Growth Investment projects, which generate long-term benefits not captured in the period of analysis and may involve no permanent job commitments, the table typically reflects only construction-related activity. Benchmarks for each type of project are noted in the footnotes.

Initial Jobs: 1,036 Construction Job Years (Direct): 193 New Jobs: 116 Over five years Construction Job Years (Indirect): 97



Fiscal Costs58

$1,000,000 $794,250 $1,000,000 $1,020,500

Fiscal Benefits59

$3,714,989 $2,085,600 $6,447,334 $4,271,980



Fiscal B/C Ratio 3.71 7.00 6.45 10.60

Project Benchmarks

Results

Economic Benefits60

$33,914,791 $119,468,000



56






Project Summary


Once Again Nut Butter – Business Investment Benefit-Costs Evaluations are used in evaluating projects that are categorized as Business Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. For Business Investment projects, benefits reported in the table below typically reflect the impact of both jobs and construction-related activity. For Infrastructure Investment and Economic Growth Investment projects, which generate long-term benefits not captured in the period of analysis and may involve no permanent job commitments, the table typically reflects only construction-related activity. Benchmarks for each type of project are noted in the footnotes.

Initial Jobs: 37 Construction Job Years (Direct): 14 New Jobs: 53 over five years Construction Job Years (Indirect): 10



Fiscal Costs63

$300,000 $794,250 $300,000 $1,020,500

Fiscal Benefits64

$3,442,920 $2,085,600 $5,794,542 $4,271,980



Fiscal B/C Ratio 11.48 7.00 19.32 10.60

Project Benchmarks

Results

Economic Benefits65

$29,365,266 $119,468,000



61






Painted Post Trail Capital




Stony Brook University The benefits reported in the table reflect only the impact of construction-related activity. Unlike typical ESD projects, infrastructure and economic growth investment projects may involve no permanent job commitments. Such projects generate long term benefits not captured in the period of analysis. This is reflected in the benefit cost estimates as compared to benchmarks developed for infrastructure and economic growth investment projects.

Initial Jobs: 11 Construction Job Years (Direct): 27 New Jobs: 11 Over two years Construction Job Years (Indirect): 18




ESD Projects

Fiscal Costs68 $1,000,000 $794,250 $1,000,000 $1,020,500

Fiscal Benefits69 $1,832,978 $2,085,600 $3,414,075 $4,271,980 Fiscal B/C Ratio 1.83 3.00 3.41 10.60





Strong Museum of Play Working Capital


Toptica Photonics Capital



Economic Growth Investment Project

Lofts at University Heights – CB Emmanuel Realty Capital, WNY Region The benefits reported in the table reflect only the impact of construction-related activity. Unlike typical ESD projects, infrastructure and economic growth investment projects may involve no permanent job commitments. Such projects generate long term benefits not captured in the period of analysis. This is reflected in the benefit cost estimates as compared to benchmarks developed for infrastructure and economic growth investment projects.





ESD Projects

Fiscal Costs73 $2,000,000 $794,250 $2,000,000 $1,020,500

Fiscal Benefits(Taxes)74 $1,767,609

$2,085,600 $2,432,820 $4,271,980

Fiscal B/C Ratio 0.88 3.00 1.22 10.60







SEPP, Inc. - – Watkins Glen Senior Apartments The benefits reported in the table reflect only the impact of construction-related activity. Unlike typical ESD projects, infrastructure and economic growth investment projects may involve no permanent job commitments. Such projects generate long term benefits not captured in the period of analysis. This is reflected in the benefit cost estimates as compared to benchmarks developed for infrastructure and economic growth investment projects.

Initial Jobs: 0 Construction Job Years (Direct): 144 New Jobs: 0 Construction Job Years (Indirect): 58




ESD Projects

Fiscal Costs78 $900,000 $794,250 $900,000 $1,020,500

Fiscal Benefits79 $768,836 $2,085,600 $1,339,197 $4,271,980 Fiscal B/C Ratio 0.85 3.00 1.49 10.60





Project Summary


PLS III, LLC / We Care Transportation – Business Investment Benefit-Costs Evaluations are used in evaluating projects that are categorized as Business Investment, Infrastructure Investment, and Economic Growth Investment and that involve 1) job retention and/or creation and/or 2) construction-related activity. For Business Investment projects, benefits reported in the table below typically reflect the impact of both jobs and construction-related activity. For Infrastructure Investment and Economic Growth Investment projects, which generate long-term benefits not captured in the period of analysis and may involve no permanent job commitments, the table typically reflects only construction-related activity. Benchmarks for each type of project are noted in the footnotes.

Initial Jobs: 200 Construction Job Years (Direct): 16 New Jobs: 100 Over Three years Construction Job Years (Indirect): 10



Fiscal Costs83

$1,000,000 $794,250 $1,000,000 $1,020,500

Fiscal Benefits84

$7,102,320

$2,085,600 $12,384,479 $4,271,980



Fiscal B/C Ratio 7.10 7.00 12.38 10.60

Project Benchmarks

Results

Economic Benefits85

$94,910,419 $119,468,000



81






Documents

ESD Quarterly Report: 1 · ESD Quarterly Report: 1st Quarter of Fiscal Year 2016-17 3 ECONOMIC DEVELOPMENT PROGRAMS: APPROPRIATION CATEGORIES –Transformative Investment Program