MARCY, NY (WUTR/WFXV/WPNY) – Governor Kathy Hochul announced that $40 million will be split up across the state to develop shovel-ready sites as part of the Focused Attraction of Shovel-Ready Tracts New York grant program (FAST NY).
The announcement was made on Tuesday morning at the SUNY Polytechnic Institute campus in Marcy.
“I think this is the immediate opportunity, just a few hundred yards from where we’re standing,” she said, “It means that the excavation, the moving of the earth, the infrastructure, it doesn’t have to wait any longer – $14 million means it can start right now.”
Hochul announced the site will receive $14 million (of the $40 million total) in state funding to help develop the site and support preparation, excavation, and utility infrastructure work.
An area has already been reserved for the development of a semiconductor supply-chain campus, which is in high demand due to the established Wolfspeed Lab nearby and the recently announced Micron facility in Clay.
“That site could support two more fabs and we look forward to locking in interest, and a commitment, with an additional semiconductor or supply chain company, here,” added Steve DiMeo, President of Mohawk Valley EDGE.
Also included in this round of FAST NY funding:
- County of Monroe IDA (COMIDA) – $20 million
- Buffalo and Erie County Industrial Land Development Corporation (ILDC) – $4.75 million
- Broome County IDA/LDC (The Agency) – $500,000
- Onondaga County IDA – $325,000
- Town of Lockport IDA – $63,750
- Village of Painted Post – $36,000
“I am very impatient,” added Hochul, “I want to start seeing the businesses show up here soon.”
The funding will come from the Focused Attraction of Shovel-Ready Tracts New York (FAST-NY) program. Established last year by Empire State Development, the program is designed to prepare and develop shovel-ready sites to increase the attractiveness of the sites to large employers and high-tech manufacturing companies.
The announcement comes on the heels of the finalization of a move that would move the College of Nanoscale Science and Engineering (CNSE) from SUNY Poly to UAlbany.
However, the Governor assured on Tuesday that this funding, and the developments that will follow, will aid in the loss.
“What we’re trying to do is build on the strengths that this campus has, and certainly the graduates of that come out of here are poised to step into the jobs,” she said.
While it’s unclear at this time if anyone is currently expressing interest in the site receiving funding, it’s safe to say that when the time comes, the area will be shovel-ready.
“They’ll be ready to be able to welcome a business in very short order, and that business knows they can start work to be almost turnkey,” said Hochul, “And that’s the beauty of the $40 million investment that were making here today.”
We will provide more details on the development as they become available.