A Monday announcement from the governor’s office touted over $81 million in funding has been awarded to support 97 priority projects across New York State through the Regional Economic Development Council initiative.
This year, $150 million in grant funds from Empire State Development was made available on a continuous and competitive basis to support the immediate needs of applicants.
Additionally, projects within each region are eligible for a share of $75 million in Excelsior Jobs Program Tax Credits to help attract and grow business in their region. The application for ESD Grant funds remains open, and applications are being reviewed on an on-going basis until funds are exhausted. In this round, one Mohawk Valley project was funded. HPK Industries will receive a $200,000 grant to purchase new machinery and equipment to streamline operations and automate processes to more than double production capabilities for PPE at their facility in Herkimer County.
This project will meet the growing demand as New York State and U.S. based companies seek to secure the PPE supply chain. HPK Industries will invest over $1 million in the facility and create and retain 60 jobs. “The pandemic toll touched every corner of the state and every sector of New York’s economy, and as a result we must ensure that our recovery does the same,” said Gov. Kathy Hochul.
“As we move forward from the pandemic we are using the rolling grant process to build New York State back better by supporting shovel-ready projects with the potential to accelerate new investments and catalyze economic growth in every community.”