August 2012 - Empire State Development - New York State

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DRAFT – SUBJECT TO REVIEW AND REVISION execute and deliver any and all documents and to take all actions as he or she may in his or her sole discretion consider to be necessary or proper to effectuate the foregoing resolutions. * * * Chair Shimer moved on to the Regional Council Awards – Round 1 items and asked Mr. Taxter to present the first of those items. Mr. Taxter asked the Directors to authorize ESD to make a $4,000,000 grant to the New York Medical College located in Westchester County. The funds, he explained, will be used to create incubator and laboratory space for entrepreneurs, a shared resource facility for virtual incubator participants and a workforce training program for all of the Region’s biotechnology companies. Mr. Taxter further noted that the project is expected to create 121 directs jobs, 51 indirect jobs and 82 induced jobs in the first five years of operation. Following Mr. Taxter’s full presentation, the Chair called for questions and comments. Director Adams spoke favorably with regard to the project noting that he had recently toured the facility with Aimee Vargas, the Director of ESD’s Mid-Hudson Regional Office and the leaders of Bio-Hud Valley which is a consortium of economic development organizations advancing the bioscience and life sciences center in Hudson Valley. 21
DRAFT – SUBJECT TO REVIEW AND REVISION Director Adams noted that there is a great deal of support for this project and it is a priority of the Mid-Hudson Regional Council. Chair Shimer asked if this is why the percentage of participation by ESD is higher than average and Director Adams stated that that was correct. Director Miller then asked if there are target companies for participation in the incubator. Director Miller further asked if it is limited to companies that are affiliated with or technologies that were developed by the New York Medical College. Mr. Taxter stated that he did not know if there were targeted companies. He stated that it is his understanding, however, that it is not limited to only companies that are affiliated with the College. Director Miller asked if there are any provisions whereby the College or the State will benefit from the upside of any of the companies that becomes successful. being in place. Mr. Taxter and Director Adams noted that they were not aware of any such conditions A discussion was then had with regard to including such conditions with regard to this type of project going forward. The Chair stated that this is an excellent point to consider 22
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RESOLVED, that the President and Ch
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A. New York - Restore III - Bush Te
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FOR CONSIDERATION August 16, 2012 T
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4. There are no families or individ
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RESOLVED, that the President and Ch
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II. Project Cost and Financing Sour
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operations in the nine-county Regio
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V. Environmental Review ESD staff h
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Regional Internal Harvesting and Ec
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A. City of Yonkers - Saw Mill River
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City of Yonkers - Saw Mill River Da
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City of Yonkers - Saw Mill River Da
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VI. Additional Requirements Pursuan
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RESOLVED, that the provision of ESD
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Community Capital Assistance Progra
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Project Cost and Financing Sources
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This Project will facilitate BNYDC
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August 16, 2012 NEW YORK HARBOR - A
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CURRENT STATUS The 38-year old Proj
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August 16, 2012 BRONX COUNTY - RIVE
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V. Contract Term, Price and Funding
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FOR INFORMATION August 16, 2012 TO:
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Subsidiary Capital Budget Summary V
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Departmental Budget Variance Report
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August 2012 - Empire State Development - New York State

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