Our mission statement
The mission of Empire State Development (“ESD”) is to promote a vigorous, inclusive and growing state economy, encourage business investment and job creation, and support diverse, 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, with a focus on sustainability and historically disadvantaged populations across the state;
- is transparent and responsive to the needs of diverse communities and businesses across the state, including through the active participation of the Regional Councils;
- supports the retention and growth of existing businesses, the resilience of communities, and the development of new businesses and industries;
- promotes equality of economic opportunities for minority- and women-owned businesses (“MWBEs”) and Service-Disabled Veteran-Owned Businesses (“SDVOBs”);
- assists in the development of underutilized property to spur community revitalization, housing, and commercial activity;
- provides early-stage support for new ventures, including the research and development and commercialization 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.
Find out more about Empire State Development
Corporate Information
Get a quick overview of ESD.
Signature Projects & Initiatives
Explore important NYS projects currently in the works.
Subsidiaries
See ESD subsidiaries with large-scale development projects.
Regional Offices
Learn about ESD’s 10 regional offices that can assist your business.
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.
Key ESD Services and Programs
Tax-Based Incentives
All forms of tax incentives that enable savings and cost advantages to businesses.
Operational Support
Programs offering assistance or training to ensure more competitive businesses.
Growth Support
Funds, loans and other means of financial support to stimulate business growth.
Innovation Development Support
Leverage New York State’s unparalleled investment in world-class tech assets, programs and expertise to grow your business.
Discover our regions
Each of New York's 10 distinct regions presents unique opportunities for business. See what these areas of the state have to offer.
Explore by industry
New York is home to innovative companies from a diverse mix of industries. See how businesses like yours are thriving here.
General information
Empire State Development is the umbrella organization for New York’s two principal economic development financing entities: The New York State Urban Development Corporation and the New York Job Development Authority. In an effort to increase efficiency and enhance the delivery of initiatives, these two agencies have worked together seamlessly since 1995. Their singular mission is the facilitation of business growth and job creation across New York State. See the links below for more general information, policies and guidelines.
- See the Urban Development Corporation Act for functions, powers, appointments and more.
- View the ESD By-Laws of the New York State Urban Development Corporation.
- Meet the Empire State Development Leadership Team
- Take a closer look at the application and commitment Fee Schedule for ESD grants and loans.
- Learn about the Bond Program and loans to build facilities and acquire machinery and equipment.
- See the Audited Financials & Budget presented to the board of directors.
- Read ESD’s Diversity, Equity and Inclusion Strategic Plan.
Performance Measures
- Number of projects supported, and the types of assistance provided;
- The number of jobs retained and created, and the amount of investment awarded and leveraged;
- Number of small businesses assisted through loans, grants and investment;
- Number of locations served through investments in broadband and digital infrastructure; and
- Utilization of certified MWBEs in ESD procurement.