November 2, 2023
Albany, NY

Governor Hochul Announces Nearly $90 Million Awarded Across the State Through Fast NY Program to Development Shovel-ready Sites

Governor Hochul Announces Nearly $90 Million Awarded Across the State Through Fast NY Program to Development Shovel-ready Sites

Second Round of Awards Will Create Jobs and Help Attract and Expand Key New York State Growth Industries

Governor Kathy Hochul today announced that nearly $90 million has been awarded for six locations under the Focused Attraction of Shovel-Ready Tracts New York grant program. First announced in February 2022, the program is designed to prepare and develop sites across the state to jumpstart New York’s shovel-readiness and increase its attractiveness to large employers and high-tech manufacturing companies. The program, administered by Empire State Development, will help diversify New York State’s economy while propelling new investments for businesses, communities, and job creation.

“Through the FAST NY grant program, New York is continuing its commitment to investing in and expanding economic growth and opportunity across the state,” Governor Hochul said. “This funding will prepare shovel-ready sites that key industries like semiconductors and renewable energy are looking for and will create good jobs and grow local economies for generations to come.”

Empire State Development President, CEO and Commissioner Hope Knight said, "New York State is taking proactive steps to ensure that we are at the top of the list when companies are starting the site selection process and Fast NY allows municipalities and IDAs to have the support they need to develop sites around specific industries such as advanced manufacturing, semiconductors, renewable energy, life science and agribusiness. Through programs like FAST NY we are ensuring New York State remains a top destination for relocation and expansion."

Governor Hochul previously announced $40 million in FAST NY awards to the first seven Awardees this summer. With today’s announcement, nearly $130 million has been awarded to thirteen locations across the state. Current awardees are:

  • Genesee County Industrial Development Agency (IDA), Genesee County – $56 million: The Western New York Science Technology Advanced Manufacturing Park (STAMP) is a 1250-acre mega site, with access to significant power, water and completed pre-development. STAMP is the largest remaining site in New York State, which has already committed over $50 million to the site and where Plug Power’s green hydrogen project is currently under construction and Edwards Vacuum will be starting construction on their dry pump factory next spring. STAMP is integral to the recent EDA Regional Tech Hub designation for the Buffalo-Rochester-Syracuse corridor and the state’s strategic goal of creating a “semiconductor superhighway” across Upstate. This phase of the project focuses on building the remaining infrastructure to support advanced manufacturing projects including a wastewater treatment facility and pump station, force-main components, natural gas transmission main tap and extension within the site, road construction improvements and a water transmission main. Total project cost: $62.37 million
  • Town of Coeymans, Albany County – $17 million: This project will allow for electrical infrastructure upgrades, including construction of an electrical transmission line and two substations serving the Port of Coeymans and enabling additional growth at the adjacent industrial property including the Coeymans Industrial Park which is currently very power constrained. The substations will allow the Port of Coeymans and the adjacent industrial park to be served by 50MWs of power, with the capacity to serve up to 100MW for potential future development. This power, coupled with access to navigable waterways and developable acreage, makes this site a key strategic asset to New York State for industrial machinery manufacturing and clean tech & renewable energy manufacturing. Total project cost: $83.8 million
  • Chautauqua County IDA, Chautauqua County – $5,250,000: The Ripley Interstate 90 shovel-ready site will allow for infrastructure improvements, including electric, gas, water, and sewer extensions, as well as creation of an access road. The project, which aims to attract light manufacturing and interstate distribution & logistics companies, consists of two phases to make requisite site improvements to transform 136 acres of underused land into a shovel-ready, infrastructure enabled site directly off of an I-90 interchange. Total project cost: $16 million
  • Town of East Fishkill, Dutchess County – $2,000,000: The iPark water district project will create a new water district for the iPark 87 Facility with a new system of water mains encircling the site and allowing for development of an additional 125 acres with the goal of attracting the optics, semi-conductor industries as well as interstate distribution and logistics. This infrastructure is critical to completing the transformation of this former IBM campus into a multi-tenant advanced manufacturing park. Total project cost: $6 million
  • Herkimer County IDA, Herkimer County – $4,372,000: Schuyler Business Park, which aims to attract clean-tech and renewable energy and interstate distribution and logistics, will make infrastructure improvements by installing a 500,000-gallon water storage tank to ensure adequate water pressure and fire suppression capabilities. Additionally, it will allow for improvements to the existing entrance, addressing traffic concerns which pose a risk to drivers. This project will allow for development on more than 80 acres. Total project cost $5.1 million
  • Counties of Warren and Washington IDA, Washington County, Capital Region – $4,739,000: The Fort Edward Canalside Energy Park project will allow for completed buildout of wastewater infrastructure and improvements to drinking water infrastructure for this former GE De-watering facility. The 80-acre, Canalside Energy Park (CEP) is a unique industrial site that has tri-modal access via rail, roadway and the Champlain Canal and will attract agribusiness, industrial machinery manufacturing and renewable energy manufacturing. With needed wastewater and water upgrades, the unique assets of this site could attract a significant economic development opportunity in a distressed area. Total project cost: $6.2 million

FAST NY funding through ESD awards grants for pre-development activities and infrastructure investments to develop sites that will attract many eligible industries —including high-tech manufacturing, semiconductors, clean-tech renewable energy, life sciences, agribusiness, optics, transportation equipment, materials processing, industrial machinery manufacturing and other advanced manufacturing. These sites can also be used for interstate distribution and logistics. Through FAST NY, ESD can award a “FAST NY Shovel-Ready Certification” for sites that meet high standards of shovel readiness, to support and enhance their marketing efforts to attract more industries. For more information, or to apply for a FAST NY grant, visit

New York State Economic Development Council Executive Director Ryan M Silva said, “Investing in sites to attract the careers and industries of the future is critical to the success of New York’s economy. Investments in infrastructure create good paying construction jobs and further helps facilitate public private partnerships. Today’s awards once again validate the vital role industrial development agencies play in New York’s economy, pairing local expertise and resources with state funding to support and build sustainable communities. We thank Governor Hochul and the team at ESD for their leadership and partnership with the FAST NY Program and the awardees for investing in New York’s future.”

Assemblymember Harry Bronson said, “Today’s announcement by Governor Hochul puts New York in a very competitive position as we secure private and public investment for our economic development. As Chair of the Assembly’s Committee on Economic Development, I strongly support FAST-NY and know it is an important first step ensuring a good foundation for job growth. FAST-NY, in combination with our federal designation as a Tech Hub, will allow us to attract the advance manufacturing companies vital for our region’s future economic expansion.”

Contact the Governor’s Press Office

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Albany: (518) 474-8418
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