Empire State Development Corporation

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Agency Web Site: http://esd.ny.gov/Link to External Website


Doing business as Empire State Development (ESD), the Urban Development Corporation (UDC) is a New York State public benefit corporation. Its overall objective is to stimulate economic growth through the creation of jobs by fostering business development, enhancing industrial competitiveness, revitalizing downtown areas, advancing high technology and promoting tourism. It engages in three principal activities: economic and real estate development; State facility financing; and housing portfolio maintenance.

Budget Highlights

The Executive Budget recommends $741.8 million for ESD. This is an increase of $482.2 million from the 2011-12 budget. The increase reflects new capital funding authorized as part of the New York Works initiative, a second round of funding to support the continuation of the Regional Economic Development Councils and the appropriations necessary to fund previous State commitments for the SUNY College for Nanoscale and Science Engineering and the SUNY 2020 Program.

Major budget actions include:

For more information on this agency's budget recommendations located in the Executive Budget Briefing Book, click on the following link:

Briefing Book – Economic Development (PDF)

All amounts are in dollars
Category Available
Change From
Aid To Localities 79,098,000 76,838,000 (2,260,000) 310,453,000
Capital Projects 180,550,000 665,000,000 484,450,000 1,738,275,000
Total 259,648,000 741,838,000 482,190,000 2,048,728,000

Note: Most recent estimates as of 1/17/2012

Click for additional detailed appropriation tables


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