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The New York State Department of Economic Development (DED) is a department of the New York government that has been operationally merged into ESD. [ 5 ] [ 6 ] ESD gives its mission as promoting the state economy, encouraging business investment and job creation, and supporting local economies through loans, grants, tax credits, real estate ...
New York City Industrial Development Agency (NYCIDA) is a public benefit corporation under New York State law that provides companies with access to tax-exempt bond financing or tax benefits to strengthen and diversify the City’s tax and employment base, helps businesses locate and expand their operations within New York City, and encourages ...
In 2018, the New York State Energy Research and Development Authority awarded long-term contracts to 22 utility-scale solar farms, totaling a combined capacity of 646 MW. [29] In 2012, LIPA adopted a power purchase agreement (limited to 50 MW), which will pay $0.22/kWh for solar generation for installations ranging from 50 kW to 20 MW. A $500 ...
The New York State Legislature created the Economic Development Zone program in 1986 to specific areas of the state more attractive economically. It was revised and expanded in 2000 (easier to create new zones of development), and Economic Development Zones were renamed Empire Zones.
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The Port of New York and New Jersey is also a major economic engine, handling record cargo volume in 2017, over 6.7 million TEUs. [19] New York City's unemployment rate fell to its record low of 4.0% in September 2018. [20] Many Fortune 500 corporations are headquartered in New York City, [21] as are a large number of multinational corporations.
Regions of New York as defined by the New York State Department of Economic Development. Regions in Upstate New York: 1. Western New York – counties : Niagara, Erie, Chautauqua, Cattaraugus, Allegany
Appalachian Regional Commission (ARC), a regional economic development agency that represents a partnership of federal, state, and local government; Authorities Budget Office (ABO), which oversees and provides training and technical assistance to New York state public-benefit corporations and authorities;