ESD green-lights CNY, Southern Tier funding

Empire State Development’s (ESD) board of directors OK’d grants for a Central New York company and a Southern Tier community revitalization program Thursday.

The state economic-development agency’s board gave its thumbs-up to a $160,000 grant to help Raymour & Flanigan Furniture pay for $1.4 million in renovations to create a customer contact center. The work took place in 10,000 square feet of space in the town of Clay and added new work stations, computer terminals, and telephone systems. ESD estimates that the project, which started this spring and wrapped up in July, retained 364 jobs and will create 60 new jobs.

A grant of up to $1 million for a Southern Tier low-interest loan and grant program also received a go-ahead from the ESD board. The program, known as the Community Revitalization Program, aims to provide financial and technical assistance for businesses that are starting up or expanding downtown, rural, and neighborhood centers. The Southern Tier Regional Economic Development Corporation manages it.

Thursday’s $1 million in funding comes on top of $2.5 million the Community Revitalization Program received through last year’s Regional Economic Development Council initiative. The additional money became available after a separate project did not move forward, according to ESD.

The agency’s Central New York and Southern Tier outlays were part of $3.66 million in grants and loans it approved Thursday.

“[These] investments are another sign of the great strides the state is making in rebuilding our economy by helping key industries and businesses grow and create jobs,” ESD President, CEO and Commissioner Kenneth Adams said in a  news release. “We are securing a significant return on investment and leveraging private funds to create nearly 200 jobs and retain over 1,000 more. ESD is putting Gov. [Andrew] Cuomo’s vision for a new New York that works for business into practice and producing results for New Yorkers.”

Contact Seltzer at rseltzer@cnybj.com