Program Purpose
Funding is for capital-based economic development initiatives intended to create or retain jobs; prevent, reduce or eliminate unemployment and underemployment; and/or increase business activity in a community or region.

Eligibility
Eligible applicants include for-profit businesses; not-for-­profit corporations; business improvement districts; local development corporations; public benefit corporations (including industrial development agencies); economic development organizations; research and academic institutions; incubators; technology parks; municipalities; counties; regional planning councils; tourist attractions; and community facilities.

Funds may be used for:

• Acquisition or leasing of land, buildings, machinery and/or equipment
• Acquisition of existing business and/or assets
• Demolition and environmental remediation
• New construction, renovation or leasehold improvements
• Acquisition of furniture and fixtures
• Soft costs up to twenty-five (25%) of total project costs
• Planning and feasibility studies related to a capital project

Program Guidelines

Contact/Additional Program Information
For more information, eligible applicants should visit http://nyworks.ny.gov/, which includes contact information for the appropriate ESD Regional Office covering the project area.