Grants

Community Development Financial Institution Assistance Program

Community Development Financial Institutions (CDFI) provide micro-loans to businesses who often do not qualify for bank loans, as well as one-on-one counseling and business development assistance to facilitate credit-readiness.

For a list of Small Business Lending Contacts for ESD’s current CDFI grantees is here, which includes this year’s awardees and previous awardees still under contract.

Economic Development Fund

This program offers financial assistance for projects that promote the economic health of New York State by facilitating the creation and or retention of jobs or the increase of business activity in the State.

Global Market Export Services

The Global Export Market Services (GEMS) is a matching grant that helps businesses expand through increased export activity. The grant is designed to help small and medium-sized businesses get the technical and marketing assistance they need to succeed in international markets. GEMS can provide up to $25,000 which can be used in a variety of export related activities. Many firms choose to use the grant to hire an export marketing consultant who can provide services custom-tailored to a company’s specific international business development needs. The grant can be used for a broad range of activities designed to assist the firm in being competitive in international markets. Groups of companies or industry associations can request apply for up to $50,000 to fund export trade development services. GEMS will cover up to 50 percent of the total acceptable project costs within the maximum funding described.

Industrial Effectiveness Program

To provide technical and financial assistance to help New York State manufacturing firms address competitiveness issues that increase productivity, efficiency and market share.

Jobs Now

JOBS Now grants offer financial assistance for major business expansion and attraction efforts that will create or attract significant numbers of permanent, full time private sector jobs in New York State.

Manufacturing Assistance Program

This program assists New York State manufacturers invest in capital projects that significantly improve production, productivity and competitiveness. MAP funds must be used for capital investments in machinery and equipment. Projects may also include Industrial Effectiveness consulting and or worker skills training.

Restore NY Communities Initiative

The Restore New York Communities Initiative provides municipalities with financial assistance for revitalization of commercial and residential properties. The program encourages community development and neighborhood growth through the elimination and redevelopment of blighted structures.

Upstate Regional Blueprint & Downstate Revitalization Funds

New York’s Upstate Regional Blueprint Fund (“Upstate Fund”) and Downstate Revitalization Fund (“Downstate Fund”) seek to promote economic development by financing capital investment in New York State. Although funding is offered prior to the start of the project as an incentive to undertake the project, funds generally are disbursed as reimbursement for expenses already undertaken.

The Upstate Fund and Downstate Fund were enacted in 2008, with the first round of awards being announced in October 2009. The two Funds are largely similar with regard to purpose and use, but are distinct with regard to geography between the Upstate and Downstate regions.

Urban and Community Development Program

Encourages economic and employment opportunities for New York State’s citizens and stimulates development of communities and urban areas.

 For more information on these programs