FLREDC Public Meeting Monroe Community College May 25, 2017 - PowerPoint PPT Presentation

FLREDC Public Meeting Monroe Community College May 25, 2017

Executive Director Update (Last Meeting: 2/1/2017 @ MCC) • 2017-18 NYS Budget Highlights: • REDC/CFA Round 7 ($800M), ROC Airport ($40M), FL Welcome Center in Geneva ($5M), Buffalo Billion II ($500M), Clean Water ($2.5B), Downtown Revitalization II ($100M), etc • No major changes to the REDC initiative competition/guidelines • 3/3 NYS Photonics Board Meeting • 4/25 Groundbreaking @ ROC Airport • Other Announcements: • EBP: NEST iON, Precision Optical Transceivers, Clearwater Organic Foods • Food: OFD Foods (Henrietta), Newstead Ranch ( Kreher’s , Genesee/Wayne), Bounduelle • Ontario: Ultra Electronics (Victor), HPP Machine (NYSAES in Geneva), Akoustis (STC) • Groundbreakings: ROC, Genesee Brewery, Naz Performing Arts, Holy Childhood Bakery • Lake Ontario Flood Emergency Assistance/Grants • FLXFWD Communications Plan: Events, Promotion, Twitter (@FLXFWD ), Website

DASHBOARD: Regional Indicators & Results Updated: May 2017 GOAL 4: Reduce Poverty TOTAL POPULATION: 1,220,000 GOAL 2: Increase Regional Wealth Rochester Poverty Rate: 33.5% = 70,350 Residents 9-County Finger Lakes (FLX) Region Average Annual Wage: $46,800 FL Region Poverty Rate: 14.3% Regional Growth: Up 11% (NYS: 6%, Upstate: 9%) Genesee, Livingston, Monroe, Orleans, Ontario, Seneca, Wayne, Wyoming, Yates City of Rochester Poverty Rate Average Annual Wages GOAL 1: Grow Jobs U.S. Census Bureau, American Community Survey NYS Department of Labor, QCEW Total Jobs: 549,000 (11,000 Net New Jobs Since 2011) Regional Growth: Up 2% (NYS: 7%, Upstate: 2%) 35.0% 72,000 $50 33.8% 33.5% $47 $ in thousands Finger Lakes Employment 32.9% 34.0% 70,000 NYS Department of Labor, QCEW $43 33.0% 549,000 $46 68,000 31.1% 31.6% 550,000 32.0% 538,000 66,000 $40 $42 31.0% 2011 2012 2013 2014 2015 64,000 30.0% 525,000 Finger Lakes Upstate NY 29.0% 62,000 2012 2013 2014 2015 2011 2011 2012 2013 2014 2015 2016 (p) GOAL 3: Drive Private Investment Finger Lakes: (p) Data for 2016 are preliminary and Regional Growth: Up 4% subject to revision (NYS: 7%, Upstate: 2.5%) Unemployment Rate (March) Establishments (2011-15) NYS Department of Labor, Local Area Unemployment Statistics NYS Department of Labor, QCEW 10.5 11 6.3 29,700 28,500 31,000 7.8 7 8.1 * 5.0 4.8 3 27,900 26,000 27,200 2011 2012 2013 2014 2015 2016 2017 2011 2012 2013 2014 2015 Finger Lakes Upstate NY City of Rochester Finger Lakes Upstate NY (avg) * Rate pending

DASHBOARD: Consolidated Funding Application (CFA) Summary ROUND 1 ROUND 2 ROUND 3 ROUND 4 ROUND 5 ROUND 6 CFA CATEGORY (2011) (2012) (2013) (2014) (2015) (2016) % of PROJECTS TOTALS 614 94 80 94 104 145 97 Total Projects Funded $2.23 Billion $273.5 $266.4 $196.3 $361.2 $877.2 $257.1 Total Project Cost (Millions) $269.7 Million $53.4 $41 $24.1 $42 $71.7 $37.5 Total Amount Awarded (Millions) 8:1 5:1 6.5:1 8:1 9:1 12:1 7:1 Ratio of TPC to Awards 3,561 1,130 756 143 115 1,063 354 Jobs Created (est.) 10,665 3,781 900 363 931 4,260 430 Jobs Retained (est.) 202 Complete 75 53 43 24 7 0 33% 366 On Schedule 14 13 44 72 125 97 60% 12 0 0 0 3 9 0 2% Contract Not Yet Executed 8 0 3 1 1 3 0 1% Progressing Slow 2 1 0 0 1 0 0 1% Concerns To Be Resolved 20 4 9 4 2 1 0 3% Cancelled or funding declined *Only includes projects awarded NYS funding in annual REDC/CFA Rounds (and not other NYS-supported projects) Updated: January 2017

Upstate Revitalization Initiative (URI) Summary Updated: May 2017 COMMITTED: $252,310,000 (of $500M) Leverage (Direct): $1,078,560,000 *Highlighted Initiative in the FLXFWD URI Plan Italics: Non-URI funds Optics, Photonics, & Imaging Agriculture & Food Production Next Gen Manufacturing & Technology COMMITTED: $145,160,000 (TARGET: $50M) COMMITTED: $15,900,000 (TARGET: $75M) COMMITTED: $29,100,000 (TARGET: $125M) AIM Photonics* ($145M, additional requests TBD) North American Breweries* ($2M) + $4.5M Excelsior 1366 Tech* @ STAMP ($18M) Precision Optical Transceivers @ EBP American Packaging ($7.7M) + $7M Excelsior NY-BEST Cell Assembly Pilot Manufacturing @ EBP ($1.2M) Avogy (project status TBD) WNY Cheese ($1.3M) + $700K Excelsior Datto @ DIZ ($2.1M) CFA Round V ($160K) Clearwater Organics* ($3M) + $2M Excelsior Akoustis @ STC OFD Foods ($500K) NEST iON @ EBP Newstead Ranch CFA Round V ($7.8M) CFA Round V ($1.4M) Pathways to Prosperity Entrepreneurship & Development Higher Education & Research COMMITTED: $15,900,000 (TARGET: $100M) COMMITTED: $10,275,000 (TARGET: $75M) COMMITTED: $21,100,000 (TARGET: $75M) MCC FWD Center* @ EBP ($5.4M) + $6M SUNY2020 Photonics Challenge* ($10M) REMADE Institute @ RIT ($20M) Hillside Work-Scholarship* ($3M) CFA Round V ($275K) CFA Round V ($1.1M) RMAPI/CFC Adult Mentors* ($1.5M) North American Breweries* ($3M) Clearwater Organic Farms* ($1M) CFA Round V ($2M) Foundation (Quality of Life): Education, Healthcare, Skilled Workforce, Diverse Economy, Cost of Living, Arts & Culture ( CFA Round V: $11.3M )

DASHBOARD: FLX Regional Highlights Updated: May 2017 30,600 New Jobs – net new private sector jobs in FLX region (from March 2010 to March 2017) • Despite continued downsizing, including 3,800 jobs losses in Chemical Manufacturing in last 5 years 4.8% Unemployment Rate – down from 8.0% in Dec 2010 8.8% Millennial Growth – increase in 20-34 year-olds since 2010 (US Census) • Faster growth than all Upstate cities and national average of 6.1% 4- Time REDC “Top Performer” – out of 6 CFA/REDC competition rounds • Nearly 600 projects directly funded by CFA awards leveraging over $2 Billion in private investment • $3.4 Billion total invested by NYS in FL region in 2011-15 (not including health care or education) Poverty Reduction – core economic development goal per FLXFWD • Implementation of Anti-Poverty Impact Statement and targeted anti-poverty grant incentives

REDC Code of Conduct Review Chanel Maddigan Empire State Development, Senior Counsel ESD’s Ethics Counsel shall serve as Ethics Officer for the Council. If a Member is unsure if he or she has an actual or potential conflict of interest, or has any other questions regarding the interpretation and application of this Code of Conduct, the Member should contact the Ethics Officer for guidance. Members are encouraged to disclose known relationships and potential conflicts of Interest to prevent even the appearance of impropriety.

2017 Regional Economic Development Council Round VII Competition Overview 5/30/2017

Economic Development  Governor Cuomo created the Regional Economic Development Councils (REDCs) to transform the State’s economic development process from the top down  REDCs re-built the statewide framework for a bottom-up approach to regional economic growth Since 2011: • Over $4.6 Billion awarded/committed to support over 5,200 projects statewide • Commitments for 210,000 jobs created/retained • Over 1,000 businesses received funding for startup or expansion • Leveraged additional private investment at a 5:1 ratio 9

Regional Economic Development Council $484.6M Awards Since 2011: 456 projects $529.1M $506.1M 505 projects 605 projects $436.9M 608 projects $475.9M $418.4M 574 projects $444.1M 551 projects $480.6M 462 projects 471 projects $486.5M 590 projects $400.4M 452 projects 10

2016 REDC Highlights  $716.9 Million awarded Statewide  950 projects received funding  Downtown Revitalization Initiative 11

2017 Competition Breakdown  Unprecedented  $150M in Capital Grants; $75M in Excelsior Tax Credits Commitment to Economic  All 10 regions eligible  Over $575M in additional state funding Development in New York through the Consolidated Funding State Application (CFA) from various state agencies  More resources = More  All 10 regions eligible  $10M to each region for Downtown Opportunities Revitalization Initiative 12

2017 Competition Breakdown In 2017, Governor Cuomo has made over $800 million available from over 30 programs across 12 state agencies. For more information on each program, visit regionalcouncils.ny.gov and view the Available Resource Guide 13

2017 Competition Criteria In 2017, each REDC will be required to:  Identify projects for the State life sciences cluster  Support the Downtown Revitalization Initiative & identify projects to implement  Address the skills gap by collaborating with industry and skills training programs  Implement strategies through the project pipeline  Update ongoing regional initiatives in Progress Report  Update Performance Measures 14

Round VII Timeline July 28 October2 Late Fall May 1 CFA Closes At Regional Council Round VII Awards CFA Opens Updates and Scores 4 PM Sharp - No late Ceremony Due submissions! 15

Downtown Revitalization Initiative Round II  $100M Program - $10M awarded for one community in each region  Develop strategic plan that will identify economic development, transportation, housing and community projects  Use investments to reinforce and secure additional public and private investments 16

Ongoing Initiatives  Regional Industry Cluster Plans  Opportunity Agenda  Community College Councils  Business Incubator and Hot Spot Program  Veteran’s Initiative  Engage Local Governments 17