Empire State Development Corporation’s Board of Directors met today in New York City, where the board approved funding totaling  $2,964,000, pledging to create  200 new jobs and retain 591  existing jobs in New York State. The funding will  leverage  more than  $14.5 million in investment across the state.

In  Fiscal  Year 2010–2011, the ESDC Directors approved projects  to 265 companies and organizations.  These projects  totaled more than $488 million in grants and loans,  retained 11,907 jobs and created 5,185 jobs. All grants and loans approved leveraged over $2.7 billion in investment.

(Editor note – edited out all the grants except the Sikorsky one we are focusing on)

Chemung County IDA/Sikorsky Aircraft Corporation – $800,000 (Chemung County)

The Chemung County Industrial Development Agency, a public benefit corporation that actively fosters growth in the County, has been awarded a grant of $800,000 to assist the beneficiary, Sikorsky Aircraft Corporation, in its expansion to an existing 120,000 square foot facility in Horseheads, New York.  The company, which has outgrown its former facility, will redevelop, renovate and purchase machinery for their new operations at the former Wings of Angels Aircraft Museum building, located at Elmira Corning Regional Airport.  Sikorsky, which had the option of expanding at any one of its multiple locations across the Northeast, will host at the new location  a customer delivery center, administrative and engineering offices, and manufacturing space to support Black Hawk, Fire Scout and reconnaissance aircraft production.  The project will retain 591 existing jobs and has already created 196 new jobs, with additional job creation expected through 2016.  Total project cost is $12,700,000.