NYS Funding for Manufacturers

Up to $247 million will be available for direct assistance to businesses as part of the 2012 round of state funding to stimulate job creation and economic growth. This includes:

• Up to $150 million for Regional Council Capital Fund
• Up to $70 million for Excelsior Jobs Tax Credits
• Up to $20 million for Empire State Economic Development Fund

An online Consolidated Funding Application (CFA) is required to request funding.

Here’s an example to help understand the types of projects that might qualify: The Regional Council Capital Fund targets capital-based economic development initiatives intended to create or retain jobs; improve unemployment, and/or increase business activity. Approved funding 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

For more information, contact
Jim Cunningham at AM&T
607-725-1225 or visit www.nyworks.ny.gov

Workforce Training

$5 million is available in Workforce Investment Act (WIA) funding to develop and enhance the occupational skills of New York State’s workforce. This money will fund:

• Existing Employee Training Program;
• New Hire Training Program; and
• Unemployed Worker Training Program.

The purpose of these programs is to address lay-off aversion by training existing employees who are at risk of losing their jobs unless they obtain skills upgrading; and by training long-term unemployed individuals who require training upon being hired or who need classroom based skills upgrades to be qualified to be hired. These programs also support the workforce needs of the strategic plans of the Governor’s Regional Economic Development Councils.

To learn more, contact Jim Cunningham at 607-725-1225