Empire State Development

OUR MISSION STATEMENT The mission of Empire State Development (“ESD”) is to promote a vigorous and growing state economy, encourage business investment and job creation, and support diverse, prosperous local economies across New York State through the efficient use of loans, grants, tax credits, real estate development, marketing and other forms of assistance. To support our economic development mission, ESD: - Invests strategically in infrastructure, innovation, place-making and revitalization, tradable sectors and workforce development; - Is transparent and responsive to the needs of diverse communities across the state through the active participation of the Regional Councils; - Supports the retention and health of existing businesses, the retention of populations, and the development of new businesses and industries that will contribute to the development of the 21st century economy; - Promotes equality of economic opportunities for minority- and women-owned businesses (“MWBEs”); - Provides early-stage support for new ventures, including the research and development of new technologies; and - Strengthens New York State’s innovation-based economy through partnerships with our acclaimed universities, promoting entrepreneurialism through the development of incubators and next-generation manufacturing and technology hubs across the state. HISTORY Empire State Development’s roots trace to the Division of Commerce, created by the state legislature in 1941, and the Urban Development Corporation (UDC), which the legislature created in 1968. Over the years, many departments and divisions were created to handle the challenges of the state. Then, in 1995, in an effort to reduce the size of government and improve efficiency, the operational efforts of the Department of Economic Development (DED) and the UDC were consolidated; doing business as the Empire State Development Corporation (ESDC). ESD headquarters have been established in Albany, Buffalo and New York City, along with a network of 10 regional offices around New York State – working seamlessly to ensure that New York’s economic development strategy benefits the entire state.