Economic Development Fund

Empire State Development

Program Type:

Grant; Loan; Loan Guarantee

Eligible Geography:

New York

Summary:

The Empire State Economic Development Fund (EDF) program offers financial assistance for projects that promote the economic health of New York State by facilitating the creation and or retention of jobs or the increase of business activity in the State. It's objective is to facilitate the creation and or retention of jobs or the increase of business activity in the State. EDF is a flexible program, providing a range of assistance to businesses, municipalities, IDAs and other economic development organizations to ensure that the diversity of business needs are being met by the State.

Eligible Recipients:

For-Profit Business; Local Government; Non-Profit Organization

Eligible Recipients Detail:

Eligible: 1) Businesses involved in industrial, manufacturing, warehousing and distribution 2) Research and development, high technology, service and other non-retail commercial enterprises 3) Not-for-profits 4) Local Development Corporations and Industrial Development Agencies 5) Municipalities

Eligible Purpose:

Broadband Deployment Planning/Feasibility Studies; General Infrastructure; Last Mile Connectivity; Broadband-Technologies Workforce Training; Building Connectivity

Eligible Purpose Detail:

EDF funds assist with:
-Construction, expansion and rehabilitation of facilities
-Acquisition of machinery and equipment
-Working capital
-Training full-time, permanent employees

Funds can be used for: Real Estate and Land Acquisition, Demolition, Construction and Renovations, Site and Infrastructure, Machinery and Equipment, Inventory , Construction Related Planning and Design, Training , Soft Costs, and Feasibility Planning Studies.