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ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 1
STATUS REPORT: 3RD QUARTER FISCAL YEAR 2018-19
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 (“ESD”). Funding for the projects listed herein was approved by ESD during the 3rd Quarter of Fiscal Year 2018-19 (October 1 through December 31). During this period, ESD approved 103 awards to 94 companies or organizations for 101 projects totaling $307,089,162 funding commitments. These projects will retain 7,646 jobs, create 2,528 jobs and leverage $1,899,465,020 in private or other public sector investment.
Contents
Introductory Information: ▪ Economic Development Programs: Appropriation Categories 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 ▪ New York State Map: Location and Amount of Commitments
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 2
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 – an appropriation to support economic development programs in the
City of Buffalo and surrounding areas.
▪ Community Development Financial Institution Program – 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 – an appropriation that made $31.18 million of funding available for business investment, job creation, promotion of tourism, domestic and international trade missions, and economic growth investment initiatives.
▪ Economic Development Initiatives Program – $2 million of this annual appropriation is used to provide assistance to companies and not-for-profit organizations to increase the export of New York’s products and services to foreign markets. Grants are made to help New York State’s private sector identify and develop export markets and increase their sales, thereby creating and retaining jobs. In addition, this appropriation is used for various marketing and tourism initiatives.
▪ Empire State Economic Development Fund – 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 – 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.
▪ Manufacturing Technology Advancement Grant (Federal DOD OEA 2018)- Federal funding from the National
Institute of Standards and Technology (NIST) Manufacturing Extension Partnership (“MEP”) was awarded in 2016 to increase New York State manufacturing competitiveness by way of funding projects in which companies adopt or advance a technology related to certain Manufacturing USA Institutes.
▪ JOBS Now Program – this appropriation, created in 1998, promotes the state’s economic health and the increase of economic activity by encouraging the expansion of current businesses and attraction of new businesses, primarily targeting companies that create at least 300 new permanent, full-time private sector jobs, with 25% of funds allowed for the creation of 100-299 jobs.
▪ Metropolitan Economic Revitalization Fund – a $25 million fund created in 1996 to revive economically distressed neighborhoods in the Port District of New York by offering capital loans that will result in retention or creation of a significant number of private-sector jobs.
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 3
ECONOMIC DEVELOPMENT PROGRAMS: APPROPRIATION CATEGORIES CONTINUED
▪ Market NY Program – an annual appropriation awarded through 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.
▪ Minority and Women-owned Business Development and Lending Program – an annual appropriation that provides financial assistance to minority- and women-owned business enterprises via loan funding.
▪ New NY Broadband Program – a $500 million appropriation to support broadband deployment to Unserved
and Underserved areas of the State, at Internet speeds of at least 100 megabits per second (Mbps) (download) in most places, and 25 Mbps (download) in the most remote parts of the State.
▪ New York Power Authority (“NYPA”) Craft Beverage Marketing Program – Funding 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. The program will also 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.
▪ New York Works Economic Development Fund – an annual appropriation to support economic development.
▪ New York Life Science Initiative Fund – A $320 million appropriation in the FY 2017-2018 budget to spur the growth of a new, world-class life science research cluster in New York, as well as expand the state’s ability to commercialize this research and grow the economy.
▪ Regional Council Capital Fund – an annual 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 – a $300 million appropriation, awarded over three years (FY 2006-
07, FY 2007-08, and FY 2008-09), that aids municipalities in revitalizing vacant, abandoned or deteriorating commercial and residential properties which may be in need of demolition, rehabilitation or reconstruction. The FY 2016-17 budget also included a $25 million Appropriation for the program, while an additional $15 million was re-allocated from the earlier $300 million appropriation. In addition, the FY 2017-18 budget included a $70 million appropriation for the program with a reallocation of $10 million from the original $300 million appropriation.
▪ Upstate Revitalization Initiative - The New York Upstate Revitalization Initiative (URI) is part of an overall
program aimed at systematically revitalizing the economy of Upstate New York. Modeled after the success of the Buffalo Billion Initiative, the URI is an opportunity for the communities of upstate New York to address the economic challenges of their regions and work together in bringing jobs back upstate.
▪ Urban and Community Development Program – an annual appropriation that promotes economic development by encouraging economic and employment opportunities in targeted communities and urban areas.
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 4
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 ESD during the 3rd Quarter of FY 2018-19. Appropriation Commitments
Buffalo Regional Innovation Cluster $15,000,000
Community Development Financial Institution $1,795,000
Downtown Revitalization Initiative $1,075,000
Economic Development Initiatives Fund $157,673
Empire State Economic Development Fund $2,645,000
Federal Department of Defense Office of
Economic Adjustment 2018 $199,777
High Technology Innovation and Economic Development
Infrastructure Program $125,000,000
Market New York Program $606,155
New NY Broadband Program $18,491,206
New York Works Economic Development
Fund $71,000,000
New York State Life Science Initiative Fund $10,000,000
Regional Council Capital Fund $12,086,532
Restore New York Communities Initiative $9,765,819
Transformative Investment Program $25,000,000
Upstate Revitalization Initiative $14,180,000
Urban and Community Development Program $87,000
TOTAL $307,089,162
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 5
Cumulative Summary of Commitments by Appropriation: Project List (p.1)
Project Name Total Commitment
Buffalo Regional Innovation Cluster
Bethlehem Steel Redevelopment Phase II Capital $10,000,000
NFTA-Metro Rail Extension Environmental Reviews Capital $5,000,000
Subtotal $15,000,000
Community Development Financial Institution
Accion-Utica CDFI 20 $150,000
Alternatives/ Cooperative CDFI 20 $150,000
BCNA CDFI 20 $100,000
BOC CDFI 20 $100,000
Brooklyn Cooperative CDFI 20 $90,000
CAMBA CDFI 20 $55,000
CCNY CDFI 20 $100,000
CLFCR CDFI 20 $95,000
CODI CDFI 20 $70,000
EGF CDFI 20 $95,000
GRAMEEN CDFI 20 $100,000
HEF CDFI 20 $85,000
La Fuerza CDFI 20 $45,000
NTFCU CDFI 20 $60,000
Pathstone CDFI 20 $85,000
Renaissance CDFI 20 $100,000
TruFund CDFI 20 $95,000
WEDI CDFI 20 $100,000
WHIDC CDFI 20 $80,000
WVF CDFI 20 $40,000
Subtotal $1,795,000
Downtown Revitalization Initiative
SUNY Adirondack - Culinary Arts Center Capital $600,000
Twisted Rail Brewery Capital $475,000
Subtotal $1,075,000
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 6
Cumulative Summary of Commitments by Appropriation: Project List (p.2)
Project Name Total Commitment
Economic Development Initiatives Fund
Ben-Amun Working Capital $17,413
Diamond Dealers Club Working Capital $50,000
Gravity Ciders Capital $30,000
Hollowick Working Capital $25,000
Polyset Working Capital $24,660
Sussman Automatic Working Capital $10,600
Subtotal $157,673
Empire State Economic Development Fund
Drink More Good Capital $46,000
HNTB Capital $875,000
NYU Study of Economic Benefits of Cannabis Working Capital $300,000
Queensboro Farms Products Capital $133,000
Star Brands North America Capital $275,000
Stature Electric Capital $275,000
Stoneleaf Construction Capital $200,000
Super DIRT Week 2018 $541,000
Subtotal $2,645,000
Federal DOD OEA 2018
Inertia Switch- DOD Working Capital $50,000
Jay Moulding Product Redevelopment Working Capital $50,000
Mosaic - AMUSA Working Capital $49,777
MTEC-MPI DOD Working Capital $50,000
Subtotal $199,777
High Technology Innovation and Economic Development Infrastructure Program
Applied Materials Capital $125,000,000
Subtotal $125,000,000
Market New York Program
Brewery Ommegang Hospitality Center Capital $375,000
Campground Owners of NY Marketing Working Capital III $101,250
Hill Country Farm Brewery Working Capital $53,000
Silk Splendor: Kimonos from the Kubota Collection Working Capital $76,905
Subtotal $606,155
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 7
Cumulative Summary of Commitments by Appropriation: Project List (p.3)
Project Name Total Commitment
New NY Broadband Program
Frontier Phase 3 North Country Unserved Broadband Capital $2,651,214
Frontier Phase 3 Southern Tier Unserved Broadband Capital 9-77332 $7,070,959
Hughes Additional Service Areas Broadband Capital $305,865
Hughes Central NY Broadband Capital $599,288
Hughes Mid-Hudson Broadband Capital $613,776
Mohawk Networks Phase 2 New NY Broadband Capital Part 1 $1,432,409
Non-CAF Long Island Region Broadband Capital $116,708
Non-CAF Mohawk Valley Region Broadband Capital $1,015,401
Non-CAF Southern Tier Region Broadband Capital $1,160,714
Non-CAF Western NY Region Broadband Capital $827,979
Windstream NY BB P3 Broadband Capital $2,696,893
Subtotal $18,491,206
New York Works Economic Development Fund
Regeneron Pharmaceuticals Capital $60,000,000
AIM Photonics Capital URI $10,000,000
City of Jamestown NY Works EDF $1,000,000
Subtotal $71,000,000
NYS Life Science Initiative Fund
Regeneron Pharmaceuticals Capital $10,000,000
Subtotal $10,000,000
Regional Council Capital Fund
649 Bleecker Street Capital $200,000
Adelphi University Health Science Lab Capital $75,532
Current Applications M&E Capital $19,000
Dupli Envelope and Graphics Capital $175,000
Ellicottville Brewing Company Capital REC6 $600,000
For & Ever Wild Beverage Improvements Capital $18,000
Galvanize Capital $600,000
Growing Upstate Food Hub Capital $810,000
Hudson River Housing Capital $300,000
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 8
Cumulative Summary of Commitments by Appropriation: Project List (p.4) Project Name Total Commitment
Regional Council Capital Fund Continued
Hudson Valley Beverage Co. Capital $400,000
HVCC Building Systems Technology Programs $24,000
Masonic Medical Research Laboratory Capital $550,000
North American Tapes $45,000
ONX3 Capital $1,900,000
Roberts Wesleyan Technology Infrastructure Capital $145,000
Rochester General Hospital LPN Training School Capital $1,100,000
Seneca Park Zoo Master Plan Improvements Capital Phase 1a $1,500,000
SoYo Exalta Capital $1,000,000
Staten Island Museum Capital $45,000
Steel Plant Studios Capital RC5 $1,500,000
Steel Plant Studios Capital RC6 $1,000,000
Vincent Holdings- 98 Genesee Street Capital $80,000
Subtotal $12,086,532
Restore New York Communities Initative
City of Elmira - Lake Street RESTORE IV $500,000
City of Oneonta - Stevens Hardware Building RESTORE V $750,000
City of Yonkers - Cottage Place Gardens Redevelopment RESTORE V $2,500,000
Johnson City – iDistrict Revitalization Initiative RESTORE IV $60,000
Rochester Center City RESTORE V $5,000,000
Town of Evans - Point Breeze Demolition – RESTORE IV $189,419
Town of Marion – Main Street Marion RESTORE IV $266,400
Village of Newark Valley - Ladder Factory Demolition RESTORE IV $500,000
Subtotal $9,765,819
Transformative Investment Program
Hofstra University School of Engineering and Applied Science Capital $25,000,000
Subtotal $25,000,000
Upstate Revitalization Initiative
Datto Capital $2,100,000
Giovanni Food Consolidation and Upgrade $700,000
Greater Syracuse Soundstage $1,700,000
Innovation Group of CNY Arts Working Capital $4,880,000
LiveTiles Capital $3,500,000
Tioga County IDA- Weitsman Shredding Capital $1,000,000
Transitair Capital $300,000
Subtotal $14,180,000
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 9
Cumulative Summary of Commitments by Appropriation: Project List (p.5)
Project Name Total Commitment
Urban and Community Development Program
Batavia BID Feasibility Study Working Capital $12,500
Upper Port Jefferson Strategic Planning Working Capital $25,000
Village of Cooperstown Doubleday Field Working Capital $49,500
Subtotal $87,000
Total $307,089,162
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 10
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 3rd Quarter of FY 2018-19 for funding commitments previously approved by ESD.
Appropriation Disbursements
Buffalo Regional Innovation Cluster $37,863,037
Community Development Financial Institution $17,500
DOS Capital Downtown Revitalization $21,478
Downtown Revitalization Initiative $460,296
Economic Development Initiatives Fund $8,485,171
Economic Development Purposes Fund $175,000
Empire State Economic Development Fund $6,227,618
Entrepreneurial Assistance Program $323,428
Market New York Program $461,250
Minority and Women-owned Business and
Development Lending Program $25,500
New NY Broadband Program $34,901,982
New York Works Economic Development Fund $2,268,643
NYPA Craft Beverage Marketing Program $249,355
Regional Council Capital Fund $21,358,494
Restore New York Communities Initiative $1,534,963
Transformative Economic Development Program $3,085,592
Upstate Revitalization Initiative $10,467,094
Urban and Community Development Program $118,093
TOTAL $128,044,492
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 11
Cumulative Summary of Disbursements by Appropriation: Project List (p. 1)
Project Name Total Commitment
Total Disbursement in
Q3 2018-2019
Buffalo Regional Innovation Cluster
43North LLC Working Capital 2017-2018 $10,000,000 $3,250,000
Anderson Properties, Niagara Falls $27,005,000 $65,574
BNMC Kaleida Capital $15,000,000 $5,000,000
BNMC Smart Pill Building $8,000,000 $1,897,695
Buffalo Investment Development Strategy $2,250,000 $193,297
Buffalo Neighborhood Stabilization Initiative- Housing Preservation Program $2,000,000 $1,000,000
City of Lackawanna Smart Growth Buffalo Billions 17-18 $2,061,242 $1,442,869
Darwin Martin House Buffalo Billions 16-17 $5,000,000 $1,659,046
Fort Schuyler Management Corporation/AMRI Capital $50,000,000 $1,000,000
Northland Corridor Redevelopment and WNY Workforce Training Center Capital $10,300,000 $1,657,903
Northland Corridor Redevelopment/Phase II/Buffalo Manufacturing Works Capit $15,000,000 $8,250,000
Northland Corridor Redevelopment/Phase II/Buffalo Manufacturing Works Capit $10,000,000 $10,000,000
Restore the Gorge Buffalo Billions 16-17 $1,000,000 $37,654
Village of Gowanda Smart Growth Buffalo Billions 17-18 $2,500,000 $1,750,000
WNY Workforce Training Center EDG Vendor Contract $100,000 $659,000
Subtotal $160,216,242 $37,863,037
Community Development Financial Institution
La Fuerza CDFI 19 $35,000 $17,500
Subtotal $35,000 $17,500
DOS Capital Downtown Revitalization
Buckhurst, Fish & Jacquemart DRI 3 $300,000 $21,478
Subtotal $300,000 $21,478
Downtown Revitalization Initiative
City of Elmira Downtown Revitilization $4,000,000 $460,296
Subtotal $4,000,000 $460,296
Economic Development Initiatives
Avery Biomedical Devices Working Capital- Globlal NY 16-17 $25,000 $24,074
Business Attraction & Retention 17-18 $34,000,000 $1,900,971
Centrotherm Working Capital $23,051 $22,722
Dynamic Systems Working Capital $24,609 $12,869
Ithos Global Working Capital $25,000 $25,000
Liberty Pumps Working Capital- Global NY 17-18 $25,000 $21,873
Micatu Working Capital $11,375 $11,375
Tourism 17-18 $30,500,000 $6,466,288
Subtotal $64,634,035 $8,485,171
Economic Development Purposes Fund
Finger Lakes Museum Capital $1,500,000 $175,000
Subtotal $1,500,000 $175,000
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 12
Cumulative Summary of Disbursements by Appropriation: Project List (p. 2)
Project Name Total Commitment
Total Disbursement in
Q3 2018-2019
Empire State Economic Development Fund
ABC Capital II $4,000,000 $500,000
Adirondack North Country Sports Council Working Capital $1,400,000 $1,272,500
Bausch & Lomb $2,000,000 $2,000,000
Metalized Carbon Capital $650,000 $325,000
New York Container Terminal Working Capital $15,000,000 $1,500,000
North Country Sustainable Lodging Study $250,000 $43,248
OANB Capital $300,000 $225,000
United Baking Capital $331,870 $331,870
Upstate Niagara Cooperative Capital $300,000 $30,000
Subtotal $24,231,870 $6,227,618
Entrepreneurial Assistance Program
Adirondack EDC Entrepreneurial Assistance Program Center 17-18 $81,465 $40,733
Bedford Stuyvesant Restoration EAP Center 16-17 $80,900 $79,149
Bedford Stuyvesant Restoration EAP Center 17-18 $81,465 $40,733
Binghamton LDC Entrepreneurial Assistance Program Center 17-18 $81,465 $40,616
Capital Region Chamber Entrepreneurial Assistance Program Center 17-18 $81,465 $40,733
Queens EDC Entrepreneurial Assistance Program Center 17-18 $81,465 $40,733
Renaissance EDC Entrepreneurial Assistance Program Center 17-18 $81,465 $40,733
Subtotal $569,690 $323,428
Market New York Program
CNY Arts Lifestyle Marketing Working Capital $150,000 $49,153
Coney Island Day Tripper's Campaign Working Capital $83,018 $58,113
Erie Canal Water Trail Working Capital $182,936 $29,750
Erie Canalway Tourism Working Capital $126,500 $24,807
Good Nature New Farm Brewery Facility Capital $100,000 $100,000
Willis Carrier Recreation Center Capital $100,500 $23,115
Willis Carrier Recreation Center Working Capital $147,000 $33,810
Wine, Water and Wonders Working Capital III $400,000 $142,503
Subtotal $1,289,954 $461,250
Minority and Women-Owned Business Development Lending
Towne, Ryan & Partners Certification Assistance Program Working Capital $75,000 $25,500
Subtotal $75,000 $25,500
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 13
Cumulative Summary of Disbursements by Appropriation: Project List (p. 3)
Project Name Total Commitment
Total Disbursement in
Q3 2018-2019
New NY Broadband Program
2016 New NY Broadband Program Round 2 MIDTEL $6,831,856 $956,209
Champlain Unserved New NY Broadband Capital $1,362,901 $356,177
Chazy and Westport NY Broadband Unserved Capital $2,363,839 $201,659
Chazy and Westport Telephone Broadband Capital-B $457,346 $40,514
Citizens Telephone Company of Hammond Phase II Broadband Capital $1,395,688 $149,789
Delhi Telephone Company Broadband Capital $3,392,373 $772,121
DFT Local Service Corp. Northern Chautauqua NY BB Grant Phase 2 BB Capital $4,274,536 $767,551
DTC Cable Broadband Capital $4,432,209 $977,654
Edwards Tel NY BB Phase II Capital $3,750,196 $1,393,252
Empire Access Underserved Broadband Capital $1,598,480 $551,560
Empire Access Unserved Broadband Capital $1,797,894 $285,561
Empire Telephone Corp Phase 2 Finger Lakes Unserved Broadband Capital $805,633 $214,559
Empire Telephone Corp Phase 2 Southern Tier Underserved Broadband Capital $271,956 $35,808
Empire Telephone Corp Phase 2 Southern Tier Unserved Broadband Capital $2,159,302 $263,144
FairPoint Communications Broadband Capital- A $2,013,513 $636,124
FairPoint Communications Broadband Capital- B $9,275,572 $4,212,101
Frontier Capital District Unserved Broadband Capital $318,304 $15,970
Frontier Communications of New York Broadband Capital-A $2,221,685 $921,974
Frontier Communications of New York Broadband Capital-D $8,109,797 $3,600,770
Frontier North Country Unserved Broadband Capital $1,702,246 $309,960
Frontier Phase 2 Capital Region Underserved Broadband Capital $416,238 $70,502
Frontier Phase 2 Central Region Unserved Broadband Capital $6,285,979 $2,481,079
Frontier Phase 2 Finger Lakes Unserved Broadband Capital $2,907,002 $1,419,174
Frontier Phase 2 Mid-Hudson Unserved Broadband Capital $436,504 $98,600
Frontier Phase 2 North Country Unserved Broadband Capital $7,304,640 $2,977,677
Gtel Broadband Capital $2,512,562 $377,131
Gtel Teleconnections Broadband Capital $4,730,944 $573,475
GTel Teleconnections Broadband Capital- B $528,273 $32,727
Hancock Telephone Company Broadband Capital $4,915,920 $564,023
Mid-Hudson Unserved Broadband Capital $950,184 $235,854
MIDTEL Unserved Broadband Capital $5,562,548 $383,887
MTC 2017 Lexington Broadband Initiative Capital $2,281,673 $381,240
Pattersonville Telephone Company Broadband Capital $1,188,748 $180,850
Taconic Telephone Underserved Broadband Capital $25,379,390 $3,899,158
Taconic Telephone Underserved Broadband Capital $25,379,390 $4,564,147
Subtotal $149,315,321 $34,901,982
New York Works Economic Development Fund
Connect NYC $1,636,346 $1,290,293
Baldwinsville-Seneca Knolls Wastewater Treatment Plant Capital $150,000 $150,000
Lake Ontario Business Flood Recovery Grant Program $5,000,000 $124,644
Lake Ontario Business Flood Recovery Grant Program (Physical Losses) $6,875,000 $703,706
Subtotal $13,661,346 $2,268,643
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 14
Cumulative Summary of Disbursements by Appropriation: Project List (p. 4)
Project Name Total Commitment
Total Disbursement in
Q3 2018-2019
NYPA Craft Beverage Program
MagicWig Working Capital II $159,790 $159,790
New York Cider Association Working Capital $101,650 $64,665
NYCA-Glynwood Working Capital $24,900 $24,900
Subtotal $286,340 $249,355
Regional Council Capital Fund
20/East Agritourism Capital $30,000 $15,000
Adeline Graham Center Capital $330,000 $330,000
Adirondack Museum improvements $1,400,000 $700,000
Beak & Skiff Holding Company Capital $598,000 $598,000
Buffalo Streetscapes Capital $2,000,000 $1,257,311
Common Roots Brewery Expansion Capital $100,000 $100,000
Erie 1 BOCES Welding Capital $25,000 $25,000
Good Nature New Farm Brewery Facility Capital $250,000 $250,000
Growing the Agricultural Industry Now! ("GAIN") Capital $3,000,000 $600,000
Harbor Point $5,000,000 $815,264
Harrison Place Business Incubator Capital RC6 $300,000 $139,038
Hudson Opera House Capital $2,300,000 $1,300,000
Johnston Paper Capital $300,000 $75,000
Landscape Restoration-Frank Lloyd Wright''s Main House Capital RC6 $275,000 $275,000
LC Drives Capital RC6 $500,000 $500,000
Main Street Partners Theater Capital $150,000 $150,000
Metal Solutions Capital $150,000 $75,000
Mohawk Harbor Capital $5,000,000 $5,000,000
MVEDGE - Marcy Nanocenter - Phase 1B Capital $1,000,000 $624,496
MVEDGE Sewer Crossing Capital $700,000 $38,124
North Country Next Generation Broadband Expansion $5,687,140 $1,030,260
Oneida County - Griffiss Airport Terminal Building $500,000 $500,000
Rochester Institute of Technology - MOVPE Capital $300,000 $300,000
Rochester Institute of Technology AMPrint Center Capital $100,000 $100,000
Sprague Operating Resources Capital $500,000 $500,000
St. Josephs College HTM Capital $611,000 $611,000
Stony Brook University Small Business Development Center Capital $1,500,000 $450,000
The Center for Discovery Capital $2,500,000 $2,500,000
The Wick Hotel Capital $1,500,000 $1,500,000
Winthrop Research Institute Capital $1,000,000 $1,000,000
Subtotal $37,606,140 $21,358,494
Restore New York Communities Initiative
Elmira - RESTORE II - Water Street $2,300,000 $264,670
Hudson Opera House Capital $2,300,000 $1,000,000
Phoenix Restoration RESTORE IV $500,000 $141,293
RESTORE IV Village of Sharon Springs - Comfort House $89,000 $89,000
Village of Endicott – Endicott Demo & Rehab RESTORE IV $440,000 $40,000
Subtotal $5,629,000 $1,534,963
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 15
Cumulative Summary of Disbursements by Appropriation: Project List (p. 5)
Project Name Total Commitment
Total Disbursement in
Q3 2018-2019
Transformative Investment Program
Nassau Coliseum Renovation Capital $6,000,000 $3,085,592
Subtotal $6,000,000 $3,085,592
Upstate Revitalization Initiative
Bergmann Associates URI Greater Binghamton Fund $435,600 $137,100
Catholic Family Center Working Capital $1,500,000 $525,000
CenterState GENIUS NY $5,000,000 $2,000,000
Dick's Merchandising & Supply Chain, Inc. Capital/Excelsior $5,250,000 $3,675,000
FlexTech Alliance Capital $20,000,000 $179,994
Masserson at Roxbury Capital $3,200,000 $1,000,000
Prima Terra - Crossroads New Hampton Inn and Out Parcels $1,000,000 $250,000
Saab North America Capital $10,000,000 $1,000,000
Sunoco - Malted Barley Capital $700,000 $700,000
Sustainable Manufacturing Innovation Alliance REMADE Working Capital $10,000,000 $1,000,000
Subtotal $57,085,600 $10,467,094
Urban and Community Development Initiative
Family Community Life Center Study $13,188 $13,188
LESBID - GreenHub Study $20,000 $20,000
Military Base Consulting $993,465 $32,500
Ogdensburg Blueway Trail Feasibility - Working Capital $25,000 $22,405
Town of Victor Working Capital $30,000 $30,000
Subtotal $1,081,653 $118,093
Total $527,517,191 $128,044,492
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 16
SECTION 2: GEOGRAPHIC DISTRIBUTION OF APPROVED
PROJECTS
Region Approved Projects Total Commitments
Capital 8 Projects $195,888,660
Central 10 Projects $9,616,288
Finger Lakes 12 Projects $24,249,927
Long Island 5 Projects $25,262,240
Mid-Hudson 12 Projects $8,034,776
Mohawk Valley 10 Projects $6,429,215
New York City 19 Projects $2,953,013
North Country 5 Projects $3,008,214
Southern Tier 9 Projects $10,771,673
Multiple Regions 1 Project $305,865
Western New York 10 Projects $20,569,291
TOTAL 101 Projects $307,089,162
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 17
Geographic Distribution of Approved Projects: Project List (p. 1)
Project Name Total Commitment County
Capital Region
Applied Materials Capital $125,000,000 Albany
CLFCR CDFI 20 $95,000 Albany
EGF CDFI 20 $95,000 Albany
HVCC Building Systems Technology Programs $24,000 Saratoga
Jay Moulding Product Redevelopment Working Capital $50,000 Albany
Polyset Working Capital $24,660 Saratoga
Regeneron Pharmaceuticals Capital (2 Commitments) $70,000,000 Rensselaer
SUNY Adirondack - Culinary Arts Center Capital $600,000 Warren
Subtotal $195,888,660
Central Region
Dupli Envelope and Graphics Capital $175,000 Onondaga
Giovanni Food Consolidation and Upgrade $700,000 Onondaga
Greater Syracuse Soundstage $1,700,000 Onondaga
Growing Upstate Food Hub Capital $810,000 Madison
Hill Country Farm Brewery Working Capital $53,000 Onondaga
Hollowick Working Capital $25,000 Onondaga
Hughes Central NY Broadband Capital $599,288 Cayuga
Innovation Group of CNY Arts Working Capital $4,880,000 Onondaga
Queensboro Farms Products Capital $133,000 Madison
Super DIRT Week 2018 $541,000 Oswego
Subtotal $9,616,288
Finger Lakes Region
AIM Photonics Capital URI $10,000,000 Monroe
Batavia BID Feasibility Study Working Capital $12,500 Genesee
Campground Owners of NY Marketing Working Capital III $101,250 Monroe
Datto Capital $2,100,000 Monroe
LiveTiles Capital $3,500,000 Monroe
Mosaic - AMUSA Working Capital $49,777 Monroe
Roberts Wesleyan Technology Infrastructure Capital $145,000 Monroe
Rochester Center City RESTORE V $5,000,000 Monroe
Rochester General Hospital LPN Training School Capital $1,100,000 Monroe
Seneca Park Zoo Master Plan Improvements Capital Phase 1a $1,500,000 Monroe
Town of Marion – Main Street Marion RESTORE IV $266,400 Wayne
Twisted Rail Brewery Capital $475,000 Ontario
Subtotal $24,249,927
Long Island Region
Adelphi University Health Science Lab Capital $75,532 Nassau
Hofstra University School of Engineering and Applied Science Capital $25,000,000 Nassau
La Fuerza CDFI 20 $45,000 Nassau
Non-CAF Long Island Region Broadband Capital $116,708 Suffolk
Upper Port Jefferson Strategic Planning Working Capital $25,000 Suffolk
Subtotal $25,262,240
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 18
Geographic Distribution of Approved Projects: Project List (p. 2)
Project Name Total Commitment County
Mid-Hudson Region
CCNY CDFI 20 $100,000 Westchester
City of Yonkers - Cottage Place Gardens Redevelopment RESTORE V $2,500,000 Westchester
Drink More Good Capital $46,000 Dutchess
Hudson River Housing Capital $300,000 Dutchess
Hudson Valley Beverage Co. Capital $400,000 Dutchess
Hughes Mid-Hudson Broadband Capital $613,776 Dutchess
Inertia Switch- DOD Working Capital $50,000 Rockland
MTEC-MPI DOD Working Capital $50,000 Dutchess
SoYo Exalta Capital $1,000,000 Westchester
Star Brands North America Capital $275,000 Westchester
Steel Plant Studios Capital (2 Commitments) $2,500,000 Dutchess
Stoneleaf Construction Capital $200,000 Dutchess
Subtotal $8,034,776
Mohawk Valley Region
Mohawk Networks Phase 2 New NY Broadband Capital Part 1 $1,432,409
649 Bleecker Street Capital $200,000 Oneida
Brewery Ommegang Hospitality Center Capital $375,000 Otsego
City of Oneonta - Stevens Hardware Building RESTORE V $750,000 Otsego
Masonic Medical Research Laboratory Capital $550,000 Oneida
Non-CAF Mohawk Valley Region Broadband Capital $1,015,401 Otsego
ONX3 Capital $1,900,000 Oneida
Silk Splendor: Kimonos from the Kubota Collection Working Capital $76,905 Herkimer
Village of Cooperstown Doubleday Field Working Capital $49,500 Otsego
Vincent Holdings- 98 Genesee Street Capital $80,000 Oneida
Subtotal $6,429,215
New York City Region
Accion-Utica CDFI 20 $150,000 New York
BOC CDFI 20 $100,000 Kings
Brooklyn Cooperative CDFI 20 $90,000 Kings
CAMBA CDFI 20 $55,000 Kings
GRAMEEN CDFI 20 $100,000 Queens
HEF CDFI 20 $85,000 New York
NTFCU CDFI 20 $60,000 New York
BCNA CDFI 20 $100,000 New York
Renaissance CDFI 20 $100,000 Kings
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 19
Geographic Distribution of Approved Projects: Project List (p. 3)
Project Name Total Commitment County
New York City Region Continued
TruFund CDFI 20 $95,000 New York
WHIDC CDFI 20 $80,000 New York
WVF CDFI 20 $40,000 New York
Ben-Amun Working Capital $17,413 New York
Diamond Dealers Club Working Capital $50,000 New York
Sussman Automatic Working Capital $10,600 Queens
NYU Study of Economic Benefits of Cannabis Working Capital $300,000 New York
HNTB Capital $875,000 New York
Galvanize Capital $600,000 New York
Staten Island Museum Capital $45,000 Richmond
Subtotal $2,953,013
North Country Region
Current Applications M&E Capital $19,000 Jefferson
For & Ever Wild Beverage Improvements Capital $18,000 Essex
Frontier Phase 3 North Country Unserved Broadband Capital $2,651,214 Essex
North American Tapes $45,000 Jefferson
Stature Electric Capital $275,000 Jefferson
Subtotal $3,008,214
Southern Tier Region
Alternatives/ Cooperative CDFI 20 $150,000 Tompkins
City of Elmira - Lake Street RESTORE IV $500,000 Chemung
Frontier Phase 3 Southern Tier Unserved Broadband Capital 9-77332 $7,070,959 Chenango
Gravity Ciders Capital $30,000 Delaware
Johnson City – iDistrict Revitalization Initiative RESTORE IV $60,000 Broome
Non-CAF Southern Tier Region Broadband Capital $1,160,714 Broome
Tioga County IDA- Weitsman Shredding Capital $1,000,000 Tioga
Transitair Capital $300,000 Steuben
Village of Newark Valley - Ladder Factory Demolition RESTORE IV $500,000 Tioga
Subtotal $10,771,673
Multiple Regions
Hughes Additional Service Areas Broadband Capital $305,865
Subtotal $305,865
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 20
Geographic Distribution of Approved Projects: Project List (p. 4)
Project Name Total Commitment County
Western New York Region
Bethlehem Steel Redevelopment Phase II Capital $10,000,000 Erie
City of Jamestown NY Works EDF $1,000,000 Chautauqua
CODI CDFI 20 $70,000 Chautauqua
Ellicottville Brewing Company Capital REC6 $600,000 Cattaraugus
NFTA-Metro Rail Extension Environmental Reviews Capital $5,000,000 Erie
Non-CAF Western NY Region Broadband Capital $827,979 Allegany
Pathstone CDFI 20 $85,000 Erie
Town of Evans - Point Breeze Demolition – RESTORE IV $189,419 Erie
WEDI CDFI 20 $100,000 Erie
Windstream NY BB P3 Broadband Capital $2,696,893 Chautauqua
Subtotal $20,569,291
Total $307,089,162
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 21
SECTION 3: JOB CREATION AND RETENTION
Number Initial Retained Created Total Region of Projects Jobs Jobs Jobs Jobs
Capital 8 5,200 5,200 1,500 6,700 Central 10 301 301 12 313 Finger Lakes 12 173 173 677 850 Long Island 5 1,102 1,102 2 1,104 Mid-Hudson 12 52 52 77 129 Mohawk Valley 10 21 21 10 31 New York City 19 228 228 147 375 North Country 5 138 138 28 166 Southern Tier 9 382 382 35 417 Multiple Regions 1 0 0 0 0 Western New York 10 49 49 40 89 Total 101 7,646 7,646 2,528 10,174
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 some of 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.
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 22
Job Creation and Retention: Project List (p. 1)
Project Name Total Commitment Initial Jobs Retained Jobs Created Jobs Total Jobs
Capital Region
Applied Materials Capital $125,000,000 0 0 0 0
CLFCR CDFI 20 $95,000 0 0 0 0
EGF CDFI 20 $95,000 0 0 0 0
HVCC Building Systems Technology Programs $24,000 0 0 0 0
Jay Moulding Product Redevelopment Working Capital $50,000 0 0 0 0
Polyset Working Capital $24,660 0 0 0 0
Regeneron Pharmaceuticals Capital (2 Commitments) $70,000,000 5,200 5,200 1,500 6,700
SUNY Adirondack - Culinary Arts Center Capital $600,000 0 0 0 0
Subtotal $195,888,660 5,200 5,200 1,500 6,700
Central Region
Dupli Envelope and Graphics Capital $175,000 170 170 2 172
Giovanni Food Consolidation and Upgrade $700,000 69 69 10 79
Greater Syracuse Soundstage $1,700,000 0 0 0 0
Growing Upstate Food Hub Capital $810,000 0 0 0 0
Hill Country Farm Brewery Working Capital $53,000 0 0 0 0
Hollowick Working Capital $25,000 0 0 0 0
Hughes Central NY Broadband Capital $599,288 0 0 0 0
Innovation Group of CNY Arts Working Capital $4,880,000 0 0 0 0
Queensboro Farms Products Capital $133,000 62 62 0 62
Super DIRT Week 2018 $541,000 0 0 0 0
Subtotal $9,616,288 301 301 12 313
Finger Lakes Region
AIM Photonics Capital URI $10,000,000 0 0 0 0
Batavia BID Feasibility Study Working Capital $12,500 0 0 0 0
Campground Owners of NY Marketing Working Capital III $101,250 0 0 0 0
Datto Capital $2,100,000 138 138 177 315
LiveTiles Capital $3,500,000 35 35 500 535
Mosaic - AMUSA Working Capital $49,777 0 0 0 0
Roberts Wesleyan Technology Infrastructure Capital $145,000 0 0 0 0
Rochester Center City RESTORE V $5,000,000 0 0 0 0
Rochester General Hospital LPN Training School Capital $1,100,000 0 0 0 0
Seneca Park Zoo Master Plan Improvements Capital Phase 1a $1,500,000 0 0 0 0
Town of Marion – Main Street Marion RESTORE IV $266,400 0 0 0 0
Twisted Rail Brewery Capital $475,000 0 0 0 0
Subtotal $24,249,927 173 173 677 850
Long Island Region
Adelphi University Health Science Lab Capital $75,532 1,102 1,102 2 1,104
Hofstra University School of Engineering and Applied Science Capital $25,000,000 0 0 0 0
La Fuerza CDFI 20 $45,000 0 0 0 0
Non-CAF Long Island Region Broadband Capital $116,708 0 0 0 0
Upper Port Jefferson Strategic Planning Working Capital $25,000 0 0 0 0
Subtotal $25,262,240 1,102 1,102 2 1,104
Mid-Hudson Region
CCNY CDFI 20 $100,000 0 0 0 0
City of Yonkers - Cottage Place Gardens Redevelopment RESTORE V $2,500,000 0 0 0 0
Drink More Good Capital $46,000 9 9 6 15
Hudson River Housing Capital $300,000 0 0 2 2
Hudson Valley Beverage Co. Capital $400,000 4 4 15 19
Hughes Mid-Hudson Broadband Capital $613,776 0 0 0 0
Inertia Switch- DOD Working Capital $50,000 0 0 0 0
MTEC-MPI DOD Working Capital $50,000 0 0 0 0
SoYo Exalta Capital $1,000,000 0 0 0 0
Star Brands North America Capital $275,000 14 14 39 53
Steel Plant Studios Capital (2 Commitments) $2,500,000 0 0 0 0
Stoneleaf Construction Capital $200,000 25 25 15 40
Subtotal $8,034,776 52 52 77 129
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 23
Job Creation and Retention: Project List (p. 2)
Project Name Total Commitment Initial Jobs Retained Jobs Created Jobs Total Jobs
Mohawk Valley Region
Mohawk Networks Phase 2 New NY Broadband Capital Part 1 $1,432,409 0 0 0 0
649 Bleecker Street Capital $200,000 0 0 0 0
Brewery Ommegang Hospitality Center Capital $375,000 0 0 0 0
City of Oneonta - Stevens Hardware Building RESTORE V $750,000 0 0 0 0
Masonic Medical Research Laboratory Capital $550,000 21 21 10 31
Non-CAF Mohawk Valley Region Broadband Capital $1,015,401 0 0 0 0
ONX3 Capital $1,900,000 0 0 0 0
Silk Splendor: Kimonos from the Kubota Collection Working Capital $76,905 0 0 0 0
Village of Cooperstown Doubleday Field Working Capital $49,500 0 0 0 0
Vincent Holdings- 98 Genesee Street Capital $80,000 0 0 0 0
Subtotal $6,429,215 21 21 10 31
New York City Region
BOC CDFI 20 $100,000 0 0 0 0
Brooklyn Cooperative CDFI 20 $90,000 0 0 0 0
CAMBA CDFI 20 $55,000 0 0 0 0
Renaissance CDFI 20 $100,000 0 0 0 0
Accion-Utica CDFI 20 $150,000 0 0 0 0
HEF CDFI 20 $85,000 0 0 0 0
NTFCU CDFI 20 $60,000 0 0 0 0
BCNA CDFI 20 $100,000 0 0 0 0
TruFund CDFI 20 $95,000 0 0 0 0
WHIDC CDFI 20 $80,000 0 0 0 0
WVF CDFI 20 $40,000 0 0 0 0
Ben-Amun Working Capital $17,413 0 0 0 0
Diamond Dealers Club Working Capital $50,000 0 0 0 0
NYU Study of Economic Benefits of Cannabis Working Capital $300,000 0 0 0 0
HNTB Capital $875,000 228 228 120 348
Galvanize Capital $600,000 0 0 27 27
GRAMEEN CDFI 20 $100,000 0 0 0 0
Sussman Automatic Working Capital $10,600 0 0 0 0
Staten Island Museum Capital $45,000 0 0 0 0
Subtotal $2,953,013 228 228 147 375
North Country Region
Current Applications M&E Capital $19,000 54 54 5 59
For & Ever Wild Beverage Improvements Capital $18,000 0 0 8 8
Frontier Phase 3 North Country Unserved Broadband Capital $2,651,214 0 0 0 0
North American Tapes $45,000 29 29 15 44
Stature Electric Capital $275,000 55 55 0 55
Subtotal $3,008,214 138 138 28 166
Southern Tier Region
Alternatives/ Cooperative CDFI 20 $150,000 0 0 0 0
City of Elmira - Lake Street RESTORE IV $500,000 0 0 0 0
Frontier Phase 3 Southern Tier Unserved Broadband Capital 9-77332 $7,070,959 0 0 0 0
Gravity Ciders Capital $30,000 0 0 0 0
Johnson City – iDistrict Revitalization Initiative RESTORE IV $60,000 0 0 0 0
Non-CAF Southern Tier Region Broadband Capital $1,160,714 0 0 0 0
Tioga County IDA- Weitsman Shredding Capital $1,000,000 319 319 25 344
Transitair Capital $300,000 63 63 10 73
Village of Newark Valley - Ladder Factory Demolition RESTORE IV $500,000 0 0 0 0
Subtotal $10,771,673 382 382 35 417
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 24
Job Creation and Retention: Project List (p. 3)
Project Name Total Commitment Initial Jobs Retained Jobs Created Jobs Total Jobs
Multiple Regions
Hughes Additional Service Areas Broadband Capital $305,865 0 0 0 0
Subtotal $305,865 0 0 0 0
Western New York Region
Bethlehem Steel Redevelopment Phase II Capital $10,000,000 0 0 0 0
City of Jamestown NY Works EDF $1,000,000 0 0 0 0
CODI CDFI 20 $70,000 0 0 0 0
Ellicottville Brewing Company Capital REC6 $600,000 49 49 40 89
NFTA-Metro Rail Extension Environmental Reviews Capital $5,000,000 0 0 0 0
Non-CAF Western NY Region Broadband Capital $827,979 0 0 0 0
Pathstone CDFI 20 $85,000 0 0 0 0
Town of Evans - Point Breeze Demolition – RESTORE IV $189,419 0 0 0 0
WEDI CDFI 20 $100,000 0 0 0 0
Windstream NY BB P3 Broadband Capital $2,696,893 0 0 0 0
Subtotal $20,569,291 49 49 40 89
Total $307,089,162 7,646 7,646 2,528 10,174
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 25
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 94 recipients of funding approved by ESD in the 3rd Quarter of Fiscal Year 2018-19, 0 were located in a distressed area as defined by the New York State unemployment average for the year 2017, the most recent annual average data available.
Small- and Medium-sized Businesses Of the 101 recipients of funding approved by ESD in the 3rd Quarter of Fiscal Year 2018-19, 27 (29%) were small or medium-sized businesses or organizations.
Strategic Industries Of the 101 projects approved by ESD in the 3rd Quarter of Fiscal Year 2018-19, the following industries were represented:
Industry Percentage of Total Funding # of Project(s)
Arts Culture & Entertainment <1% 1
Broadband 6% 11
Education 11% 11
Food & Beverage Manufacturing/Distribution 1% 11
Health 23% 3
Machinery & Miscellaneous Manufacturing <1% 15
Municipal /Government/Not-For-Profit 10% 37 Real Estate Development 1% 4 Technology/Scientific Research & Development 46% 4 Tourism/Hospitality <1% 3 Transportation <1% 1
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 4.7% (the New York State unemployment average for the year 2017). “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.
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 26
Small and Medium-Sized Business: Project List
Project Name Benefit Cost
649 Bleecker Street Capital N/A N/A
Brewery Ommegang Hospitality Center Capital N/A N/A
Campground Owners of NY Marketing Working Capital III N/A N/A
CODI CDFI 20 N/A N/A
Current Applications M&E Capital $170,639 $19,000
Drink More Good Capital $406,811 $46,000
Dupli Envelope and Graphics Capital $743,910 $175,000
Ellicottville Brewing Company Capital REC6 $977,493 $600,000
For & Ever Wild Beverage Improvements Capital $166,779 $18,000
Gravity Ciders Capital N/A N/A
HEF CDFI 20 N/A N/A
Hill Country Farm Brewery Working Capital N/A N/A
HNTB Capital $6,270,595 $875,000
Hudson Valley Beverage Co. Capital $970,645 $518,274
Inertia Switch- DOD Working Capital N/A N/A
Jay Moulding Product Redevelopment Working Capital N/A N/A
Mosaic - AMUSA Working Capital N/A N/A
MTEC-MPI DOD Working Capital N/A N/A
Pathstone CDFI 20 N/A N/A
Queensboro Farms Products Capital $3,581,479 $133,000
Stature Electric Capital N/A N/A
Stoneleaf Construction Capital $1,546,402 $200,000
Twisted Rail Brewery Capital $442,388 $475,000
Vincent Holdings- 98 Genesee Street Capital N/A N/A
WEDI CDFI 20 N/A N/A
WHIDC CDFI 20 N/A N/A
WVF CDFI 20 N/A N/A
Total $15,277,141 $3,059,274
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 27
Strategic Industries: Project List (p. 1)
Project Name Benefit Cost
Arts/Culture/Entertainment
Greater Syracuse Soundstage N/A N/A
Subtotal $0 $0
Broadband
Frontier Phase 3 North Country Unserved Broadband Capital N/A N/A
Frontier Phase 3 Southern Tier Unserved Broadband Capital 9-77332 N/A N/A
Hughes Additional Service Areas Broadband Capital N/A N/A
Hughes Central NY Broadband Capital N/A N/A
Hughes Mid-Hudson Broadband Capital N/A N/A
Mohawk Networks Phase 2 New NY Broadband Capital Part 1 N/A N/A
Non-CAF Long Island Region Broadband Capital N/A N/A
Non-CAF Mohawk Valley Region Broadband Capital N/A N/A
Non-CAF Southern Tier Region Broadband Capital N/A N/A
Non-CAF Western NY Region Broadband Capital N/A N/A
Windstream NY BB P3 Broadband Capital N/A N/A
Subtotal $0 $0
Education
Adelphi University Health Science Lab Capital $115,606 $75,532
Galvanize Capital $1,653,590 $600,000
Hofstra University School of Engineering and Applied Science Capital N/A N/A
HVCC Building Systems Technology Programs N/A N/A
Innovation Group of CNY Arts Working Capital N/A N/A
NYU Study of Economic Benefits of Cannabis Working Capital N/A N/A
Roberts Wesleyan Technology Infrastructure Capital N/A N/A
Silk Splendor: Kimonos from the Kubota Collection Working Capital N/A N/A
Staten Island Museum Capital N/A N/A
Steel Plant Studios Capital (2 Committments) N/A N/A
SUNY Adirondack - Culinary Arts Center Capital N/A N/A
Subtotal $1,769,196 $675,532
Food & Beverage Manufacturing/Distribution
Brewery Ommegang Hospitality Center Capital N/A N/A
Drink More Good Capital $406,811 $46,000
Ellicottville Brewing Company Capital REC6 $977,493 $600,000
For & Ever Wild Beverage Improvements Capital $166,779 $18,000
Giovanni Food Consolidation and Upgrade $3,750,263 $1,007,135
Gravity Ciders Capital N/A N/A
Hill Country Farm Brewery Working Capital N/A N/A
Hudson Valley Beverage Co. Capital $970,645 $518,274
Queensboro Farms Products Capital $3,581,479 $133,000
Star Brands North America Capital $3,591,704 $275,000
Twisted Rail Brewery Capital $442,388 $475,000
Subtotal $13,887,562 $3,072,409
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 28
Strategic Industries: Project List (p. 2)
Project Name Benefit Cost
Health
Masonic Medical Research Laboratory Capital $2,176,556 $550,000
Regeneron Pharmaceuticals Capital (2 Commitments) $116,964,533 $120,723,947
Rochester General Hospital LPN Training School Capital N/A N/A
Subtotal $119,141,089 $121,273,947
Machinery & Miscellaneous Manufacturing
Ben-Amun Working Capital N/A N/A
Current Applications M&E Capital $170,639 $19,000
Diamond Dealers Club Working Capital N/A N/A
Dupli Envelope and Graphics Capital $743,910 $175,000
Hollowick Working Capital N/A N/A
Inertia Switch- DOD Working Capital N/A N/A
Jay Moulding Product Redevelopment Working Capital N/A N/A
Mosaic - AMUSA Working Capital N/A N/A
MTEC-MPI DOD Working Capital N/A N/A
North American Tapes N/A N/A
Polyset Working Capital N/A N/A
Stature Electric Capital N/A N/A
Stoneleaf Construction Capital $1,546,402 $200,000
Sussman Automatic Working Capital N/A N/A
Vincent Holdings- 98 Genesee Street Capital N/A N/A
Subtotal $2,460,951 $394,000
Municipal /Government/Not-For-Profit
Accion-Utica CDFI 20 N/A N/A
Alternatives/ Cooperative CDFI 20 N/A N/A
Batavia BID Feasibility Study Working Capital N/A N/A
BCNA CDFI 20 N/A N/A
Bethlehem Steel Redevelopment Phase II Capital N/A N/A
BOC CDFI 20 N/A N/A
Brooklyn Cooperative CDFI 20 N/A N/A
CAMBA CDFI 20 N/A N/A
CCNY CDFI 20 N/A N/A
City of Elmira - Lake Street RESTORE IV N/A N/A
City of Jamestown NY Works EDF N/A N/A
City of Oneonta - Stevens Hardware Building RESTORE V N/A N/A
City of Yonkers - Cottage Place Gardens Redevelopment RESTORE V N/A N/A
CLFCR CDFI 20 N/A N/A
CODI CDFI 20 N/A N/A
EGF CDFI 20 N/A N/A
GRAMEEN CDFI 20 N/A N/A
Growing Upstate Food Hub Capital N/A N/A
HEF CDFI 20 N/A N/A
Hudson River Housing Capital N/A N/A
Johnson City – iDistrict Revitalization Initiative RESTORE IV N/A N/A
La Fuerza CDFI 20 N/A N/A
NFTA-Metro Rail Extension Environmental Reviews Capital N/A N/A
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 29
Strategic Industries: Project List (p. 3)
Project Name Benefit Cost
Municipal /Government/Not-For-Profit Continued
NTFCU CDFI 20 N/A N/A
Pathstone CDFI 20 N/A N/A
Renaissance CDFI 20 N/A N/A
Rochester Center City RESTORE V N/A N/A
Tioga County IDA- Weitsman Shredding Capital N/A N/A
Town of Evans - Point Breeze Demolition – RESTORE IV N/A N/A
Town of Marion – Main Street Marion RESTORE IV N/A N/A
TruFund CDFI 20 N/A N/A
Upper Port Jefferson Strategic Planning Working Capital N/A N/A
Village of Cooperstown Doubleday Field Working Capital N/A N/A
Village of Newark Valley - Ladder Factory Demolition RESTORE IV N/A N/A
WEDI CDFI 20 N/A N/A
WHIDC CDFI 20 N/A N/A
WVF CDFI 20 N/A N/A
Subtotal $0 $0
Real Estate
HNTB Capital $6,270,595 $875,000
ONX3 Capital N/A N/A
649 Bleecker Street Capital N/A N/A
SoYo Exalta Capital N/A N/A
Subtotal $6,270,595 $875,000
Technology/Scientific Research & Development
AIM Photonics Capital URI N/A N/A
Applied Materials Capital N/A N/A
Datto Capital $7,309,520 $2,100,000
LiveTiles Capital $16,006,808 $6,035,116
Subtotal $23,316,328 $8,135,116
Tourism & Hospitality
Super DIRT Week 2018 $31,405 $541,000
Campground Owners of NY Marketing Working Capital III N/A N/A
Seneca Park Zoo Master Plan Improvements Capital Phase 1a N/A N/A
Subtotal $31,405 $541,000
Transportation
Transitair Capital $532,078 $300,000
Subtotal $532,078 $300,000
Total $167,409,204 $135,267,004
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 30
APPENDIX: FISCAL BENEFIT TO COST EVALUATIONS
Where impact was quantifiable, the projects that were analyzed yield an overall Fiscal Benefit to Cost ratio of 1.31. 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 $1.31.
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,
Project Name Benefit Cost
Adelphi University Health Science Lab Capital $115,606 $75,532
Current Applications M&E Capital $170,639 $19,000
Datto Capital $7,309,520 $2,100,000
Drink More Good Capital $406,811 $46,000
Dupli Envelope and Graphics Capital $743,910 $175,000
Ellicottville Brewing Company Capital REC6 $977,493 $600,000
For & Ever Wild Beverage Improvements Capital $166,779 $18,000
Galvanize Capital $1,653,590 $600,000
Giovanni Food Consolidation and Upgrade $3,750,263 $1,007,135
Growing Upstate Food Hub Capital $41,872 $810,000
HNTB Capital $6,270,595 $875,000
Hudson Valley Beverage Co. Capital $970,645 $518,274
LiveTiles Capital $16,006,808 $6,035,116
Masonic Medical Research Laboratory Capital $2,176,556 $550,000
North American Tapes $480,820 $45,000
Queensboro Farms Products Capital $3,581,479 $133,000
Regeneron Pharmaceuticals Capital $116,964,533 $120,723,947
Star Brands North America Capital $3,591,704 $275,000
Stoneleaf Construction Capital $1,546,402 $200,000
Super DIRT Week 2018 $31,405 $541,000
Tioga County IDA- Weitsman Shredding Capital $11,280,988 $930,000
Transitair Capital $532,078 $300,000
Twisted Rail Brewery Capital $442,388 $475,000
Total $179,212,884 $137,052,004
ESD Quarterly Report: 3rd Quarter of Fiscal Year 2018-19 31
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.
Adelphi University (the “University”) Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $115,606, which exceed the cost to the State.
Current Applications Inc. Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $170,639, which exceed the cost to the State.
Project Summary Benefit-Cost Evaluation1
Datto, 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.
Initial Jobs: 138 Construction Job Years (Direct): 31 New Jobs: 177 over five years Construction Job Years (Indirect): 19
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks2 State & Local Government
Government Benchmarks
Fiscal Costs3 $2,100,000 $794,250 $2,100,000 $1,020,500
Fiscal Benefits4 $7,309,520 $2,085,600 $12,707,252 $4,271,980
Fiscal Cost /Direct Job $20,940 $3,000 $20,940 $4,110
Fiscal Cost/Total Jobs $12,661 $1,424 $12,661 $1,964
Fiscal B/C Ratio 3.48 7.00 6.05 10.60
Project Benchmarks
Results
Economic Benefits5 $92,000,412 $119,468,000
Econ. Benefits/Total Jobs $554,679 $147,600
Economic B/C Ratio 43.81 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.
Drink More Good Inc. Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $406,811, which exceed the cost to the State.
Matt Industries Inc. Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $743,910, which exceed the cost to the State.
Project Summary Benefit-Cost Evaluation6
S & W Company, 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: 49 Construction Job Years (Direct): 15 New Jobs: 25 over five years Construction Job Years (Indirect): 9
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks7 State & Local Government
Government Benchmarks
Fiscal Costs8 $600,000 $794,250 $600,000 $1,020,500
Fiscal Benefits9 $977,493 $2,085,600 $1,679,283 $4,271,980
Fiscal Cost /Direct Job $43,750 $3,000 $43,750 $4,110
Fiscal Cost/Total Jobs $11,373 $1,424 $11,373 $1,964
Fiscal B/C Ratio 1.63 7.00 2.80 10.60
Project Benchmarks
Results
Economic Benefits10 $12,904,068 $119,468,000
Econ. Benefits/Total Jobs $244,606 $147,600
Economic B/C Ratio 21.51 75.00
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.
Forever Wild Beverage Co. Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $166,779, which exceed the cost to the State.
Project Summary Benefit-Cost Evaluation11
Galvanize, 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.
Initial Jobs: 0 Construction Job Years (Direct): 33 New Jobs: 27 over three years Construction Job Years (Indirect): 18
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks12 State & Local Government
Government Benchmarks
Fiscal Costs13 $600,000 $794,250 $600,000 $1,020,500
Fiscal Benefits14 $1,653,590 $2,085,600 $3,562,146 $4,271,980
Fiscal Cost /Direct Job $35,443 $3,000 $35,443 $4,110
Fiscal Cost/Total Jobs $30,022 $1,424 $30,022 $1,964
Fiscal B/C Ratio 2.76 7.00 5.94 10.60
Project Benchmarks
Results
Economic Benefits15 $22,549,529 $119,468,000
Econ. Benefits/Total Jobs $1,128,321 $147,600
Economic B/C Ratio 37.58 75.00
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 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 Evaluation16
Giovanni Food Co., 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.
Initial Jobs: 69 Construction Job Years (Direct): 22 New Jobs: 10 over two years Construction Job Years (Indirect): 13
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks17 State & Local Government
Government Benchmarks
Fiscal Costs18 $1,007,135 $794,250 $1,007,135 $1,020,500
Fiscal Benefits19 $3,750,263 $2,085,600 $6,545,348 $4,271,980
Fiscal Cost /Direct Job $16,081 $3,000 $16,081 $4,110
Fiscal Cost/Total Jobs $8,064 $1,424 $8,064 $1,964
Fiscal B/C Ratio 3.72 7.00 6.50 10.60
Project Benchmarks
Results
Economic Benefits20 $49,927,427 $119,468,000
Econ. Benefits/Total Jobs $399,753 $147,600
Economic B/C Ratio 49.57 75.00
16 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. 17 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). 18 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). 19 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. 20 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 Evaluation21
Economic Growth Investment Project
Growing Upstate Food Hub, LLC
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): 6 Construction Job Years (Indirect): 4
NYS Govt. State & Local
Evaluation Statistics Project Result Benchmarks for Project Results Government NYS Govt. ESD Projects22 State & Local
Governments Benchmarks for
ESD Projects
Fiscal Costs23 $810,000 $794,250 $810,000 $1,020,500
Fiscal Benefits(Taxes)24 $41,872 $2,085,600 $74,127 $4,271,980 Fiscal B/C Ratio 0.05 3.00 0.09 10.60
Benchmarks Project for ESD Results Projects
Economic Benefits25 $540,445 $119,468,000
Economic B/C Ratio 0.67 30.00
21 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. 22 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. 23 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). 24 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. 25 Economic benefits are estimated project benefits measuring loan repayments and all tax revenues generated by the project and collected by state and local governments.
Project Summary Benefit-Cost Evaluation26
1914 Holding 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.
Initial Jobs: 228 Construction Job Years (Direct): 12 New Jobs: 120 over five years Construction Job Years (Indirect): 6
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks27 State & Local Government
Government Benchmarks
Fiscal Costs28 $875,000 $794,250 $875,000 $1,020,500
Fiscal Benefits29 $6,270,595 $2,085,600 $13,472,185 $4,271,980
Fiscal Cost /Direct Job $15,659 $3,000 $15,659 $4,110
Fiscal Cost/Total Jobs $8,239 $1,424 $8,239 $1,964
Fiscal B/C Ratio 7.17 7.00 15.40 10.60
Project Benchmarks
Results
Economic Benefits30 $85,514,552 $119,468,000
Econ. Benefits/Total Jobs $805,237 $147,600
Economic B/C Ratio 97.73 75.00
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. 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). 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 employment, corporate and business incomes, excise and user taxes, property taxes, and other taxes. 30 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 Evaluation31
Hudson Valley Beverage Co. 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.
Initial Jobs: 4 Construction Job Years (Direct): 1 New Jobs: 15 over five years Construction Job Years (Indirect): 0
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks32 State & Local Government
Government Benchmarks
Fiscal Costs33 $518,274 $794,250 $518,274 $1,020,500
Fiscal Benefits34 $970,645 $2,085,600 $1,773,226 $4,271,980
Fiscal Cost /Direct Job $53,568 $3,000 $53,568 $4,110
Fiscal Cost/Total Jobs $20,552 $1,424 $20,552 $1,964
Fiscal B/C Ratio 1.87 7.00 3.42 10.60
Project Benchmarks
Results
Economic Benefits35 $11,407,039 $119,468,000
Econ. Benefits/Total Jobs $452,339 $147,600
Economic B/C Ratio 22.01 75.00
31 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. 32 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). 33 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). 34 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. 35 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 Evaluation36
LiveTiles Corp – 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: 35 Construction Job Years (Direct): 36 New Jobs: 500 over five years Construction Job Years (Indirect): 23
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks37 State & Local Government
Government Benchmarks
Fiscal Costs38 $6,035,116 $794,250 $6,035,116 $1,020,500
Fiscal Benefits39 $16,006,808 $2,085,600 $27,809,527 $4,271,980
Fiscal Cost /Direct Job $25,316 $3,000 $25,316 $4,110
Fiscal Cost/Total Jobs $15,307 $1,424 $15,307 $1,964
Fiscal B/C Ratio 2.65 7.00 4.61 10.60
Project Benchmarks
Results
Economic Benefits40 $200,671,687 $119,468,000
Econ. Benefits/Total Jobs $508,960 $147,600
Economic B/C Ratio 33.25 75.00
36 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. 37 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). 38 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). 39 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. 40 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 Evaluation41
The Masonic Medical Research Laboratory (MMRL) – 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: 21 Construction Job Years (Direct): 72 New Jobs: 10 over two years Construction Job Years (Indirect): 33
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks42 State & Local Government
Government Benchmarks
Fiscal Costs43 $550,000 $794,250 $550,000 $1,020,500
Fiscal Benefits44 $2,176,556 $2,085,600 $3,706,207 $4,271,980
Fiscal Cost /Direct Job $24,214 $3,000 $24,214 $4,110
Fiscal Cost/Total Jobs $16,286 $1,424 $16,286 $1,964
Fiscal B/C Ratio 3.96 7.00 6.74 10.60
Project Benchmarks
Results
Economic Benefits45 $25,822,411 $119,468,000
Econ. Benefits/Total Jobs $764,643 $147,600
Economic B/C Ratio 46.95 75.00
41 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. 42 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). 43 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). 44 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. 45 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.
North American Tapes, LLC Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $480,820, which exceed the cost to the State.
Queensboro Farm Products, Inc. Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $3,581,479, which exceed the cost to the State.
Project Summary Benefit-Cost Evaluation46
Regeneron Pharmaceuticals, 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.
Initial Jobs: 4,668 Construction Job Years (Direct): 2,885 New Jobs: 1,500 over seven years Construction Job Years (Indirect): 2,059
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks47 State & Local Government
Government Benchmarks
Fiscal Costs48 $120,723,947 $794,250 $120,723,947 $1,020,500
Fiscal Benefits49 $116,964,533 $2,085,600 $195,038,100 $4,271,980
Fiscal Cost /Direct Job $164,131 $3,000 $164,131 $4,110
Fiscal Cost/Total Jobs $38,948 $1,424 $38,948 $1,964
Fiscal B/C Ratio 0.97 7.00 1.62 10.60
Project Benchmarks
Results
Economic Benefits50 $1,408,146,806 $119,468,000
Econ. Benefits/Total Jobs $454,292 $147,600
Economic B/C Ratio 11.66 75.00
46 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. 47 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). 48 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). 49 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. 50 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 Evaluation51
Star Brands North America, 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.
Initial Jobs: 14 Construction Job Years (Direct): 4 New Jobs: 39 over five years Construction Job Years (Indirect): 2
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks52 State & Local Government
Government Benchmarks
Fiscal Costs53 $275,000 $794,250 $275,000 $1,020,500
Fiscal Benefits54 $3,591,704 $2,085,600 $6,674,377 $4,271,980
Fiscal Cost /Direct Job $11,736 $3,000 $11,736 $4,110
Fiscal Cost/Total Jobs $2,452 $1,424 $2,452 $1,964
Fiscal B/C Ratio 13.06 7.00 24.27 10.60
Project Benchmarks
Results
Economic Benefits55 $48,240,779 $119,468,000
Econ. Benefits/Total Jobs $430,138 $147,600
Economic B/C Ratio 175.42 75.00
51 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. 52 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). 53 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). 54 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. 55 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.
Stoneleaf Construction LLC Evaluated over a seven-year period, project fiscal benefits to New York State government are expected to be $1,546,402, which exceed the cost to the State.
Project Summary Benefit-Cost Evaluation56
Business Improvement Project World Racing Group, Inc. (Super DIRT Week)
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): 4 Construction Job Years (Indirect): 3
NYS Govt. State & Local
Evaluation Statistics Project Result Benchmarks for Project Results Government NYS Govt. ESD Projects57 State & Local
Governments Benchmarks for
ESD Projects
Fiscal Costs58 $541,000 $794,250 $541,000 $1,020,500
Fiscal Benefits59 $31,405 $2,085,600 $55,597 $4,271,980 Fiscal B/C Ratio 0.06 3.00 0.10 10.60
Benchmarks Project for ESD Results Projects
Economic Benefits60 $405,349 $119,468,000
Economic B/C Ratio 0.75 30.00
56 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. 57 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. 58 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). 59 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. 60 Economic benefits are estimated project benefits measuring loan repayments and all tax revenues generated by the project and collected by state and local governments.
Project Summary
Benefit-Cost Evaluation61
Tioga County Industrial Development Agency – 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: 319 Construction Job Years (Direct): 31 New Jobs: 0 Construction Job Years (Indirect): 12
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks62 State & Local Government
Government Benchmarks
Fiscal Costs63 $930,000 $794,250 $930,000 $1,020,500
Fiscal Benefits64 $11,280,988 $2,085,600 $19,202,619 $4,271,980
Fiscal Cost /Direct Job $5,095 $3,000 $5,095 $4,110
Fiscal Cost/Total Jobs $2,321 $1,424 $2,321 $1,964
Fiscal B/C Ratio 12.13 7.00 20.65 10.60
Project Benchmarks
Results
Economic Benefits65 $150,196,559 $119,468,000
Econ. Benefits/Total Jobs $374,797 $147,600
Economic B/C Ratio 161.50 75.00
61 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. 62 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). 63 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). 64 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. 65 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 Evaluation66
Transitair, 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.
Initial Jobs: 63 Construction Job Years (Direct): 2 New Jobs: 10 over five years Construction Job Years (Indirect): 1
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks67 State & Local Government
Government Benchmarks
Fiscal Costs68 $300,000 $794,250 $300,000 $1,020,500
Fiscal Benefits69 $532,078 $2,085,600 $891,565 $4,271,980
Fiscal Cost /Direct Job $18,750 $3,000 $18,750 $4,110
Fiscal Cost/Total Jobs $9,346 $1,424 $9,346 $1,964
Fiscal B/C Ratio 1.77 7.00 2.97 10.60
Project Benchmarks
Results
Economic Benefits70 $7,031,469 $119,468,000
Econ. Benefits/Total Jobs $219,052 $147,600
Economic B/C Ratio 23.44 75.00
66 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. 67 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). 68 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). 69 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. 70 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 Evaluation71
Twisted Rail Brewery – 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: 0 Construction Job Years (Direct): 3 New Jobs: 15 over five years Construction Job Years (Indirect): 2
Project Results NYS Gov’t. Project Results State & Local Evaluation Statistics NYS Gov’t. Benchmarks72 State & Local Government
Government Benchmarks
Fiscal Costs73 $475,000 $794,250 $475,000 $1,020,500
Fiscal Benefits74 $442,388 $2,085,600 $766,645 $4,271,980
Fiscal Cost /Direct Job $65,196 $3,000 $65,196 $4,110
Fiscal Cost/Total Jobs $30,579 $1,424 $30,579 $1,964
Fiscal B/C Ratio 0.93 7.00 1.61 10.60
Project Benchmarks
Results
Economic Benefits75 $5,867,872 $119,468,000
Econ. Benefits/Total Jobs $377,761 $147,600
Economic B/C Ratio 12.35 75.00
71 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. 72 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). 73 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). 74 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. 75 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.