New York is powering a clean energy economy
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- Kevin Hale, Director
- Merideth Andreucci, Assistant Director
- Jenny Kelley, Economic Development Manager
New York has what it takes: robust markets for clean energy products, a talented workforce, ambitious policies, and the right incentives to locate clean energy and climate technology manufacturing and supply chain investments.
Clean energy industries - from manufacturing to installation and servicing - are poised for significant growth through New York State’s unparalleled investments in strategic siting, workforce development, and the innovation infrastructure necessary to support a robust clean energy economy.
Whether you are focused on commercializing the next generation of clean energy technologies or seeking a growing market for your low-carbon products, New York is full of opportunities.
Why Choose New York For Your Business?
New York State by the numbers:
- #1 in the Northeast in total number of STEM graduates
- #2 for venture capital investments ($18.1 billion in capital committed through 2020)
- #3 in nation on clean energy/clean tech patents
- #3 in the country for high-tech employment
New York’s ambitious clean energy and climate goals are catalyzing investment and job growth, but the Empire State has many more strategic advantages.
- Diverse Talent: New York has more than 165,000 clean energy workers and a diverse talent pool with the education, training, and skills to fuel the growing clean energy economy. Clean energy companies can access funding and support from New York State for internships, on-the-job training, and educational resources to create a sustainable talent pipeline and reduce the cost of hiring and training employees.
- Competitive Incentives: Tax credits and financial incentives help businesses invest in their workforce, locate in strategic areas, and improve their facilities’ energy performance towards decarbonization. Manufacturers have a zero percent corporate income tax rate, pay no personal property tax, and are eligible for a 20% real property tax credit.
- Development-Ready Sites: New York has many commercially and industrially zoned sites with all the permitting, environmental studies, surveying, title work, utility infrastructure engineering, and logistics infrastructure completed. New York is continuously directing investment through local economic development organizations and municipalities to replenish the state’s inventories as sites are developed.
- Innovation and Resources: New York is home to world-class public and private research institutions and leading engineering schools. Substantial research & development funding is available to develop new clean energy solutions and implement pilot and demonstration projects.
New York’s Robust Clean Energy Sectors
New York clean energy firms saw a total of $10.98 billion in investments across 6,681 deals between 2011 and 2021
To achieve the emission reduction and renewable generation goals of the Climate Act , New York State is mobilizing investment in clean energy products and services in key market segments, including:
- Energy Efficiency: To meet the goal of reducing on-site energy use by 185 trillion BTUs by 2025, New York is prioritizing the efficiency and decarbonization of commercial, industrial, and residential buildings, especially in low- and moderate-income homes.
- Energy Storage: New York is supporting the deployment of 1,500 MW of energy storage by 2025 and 3,000 MW by 2030.
- Offshore Wind: With a goal of 9,000 MW of offshore wind by 2035, New York is building the nation’s largest offshore wind pipeline. Investments in offshore wind ports, manufacturing, and infrastructure will create thousands of jobs and economic benefits across the State.
- Solar: New York is ramping up solar development to reach 6,000 MW of distributed solar by 2025 and achieve a 100% zero-emission electricity system by 2040.
- Vehicle Electrification: New York will require 100% light-duty zero-emission vehicle (ZEV) sales by 2035 and 100% medium- and heavy-duty ZEV sales by 2040. New York is prioritizing investment in charging infrastructure and ZEV manufacturing to achieve a clean transportation system.
These Companies Found a Clean Energy Partner in New York
From emerging startups to established firms, New York is partnering with businesses and innovators advancing clean energy solutions and services.
Micron’s $100 billion investment will transform Central New York into a global semiconductor manufacturing hub, creating nearly 50,000 jobs statewide.
Read more about Micron
Plug Power’s $55 million investment in fuel cell manufacturing will create over 1,600 jobs in the Capital Region over five years.
Read more about Plug Power
New York State Programs and Opportunities
NY Green Bank
Provides access to capital to increase private investment in New York’s clean energy markets, especially renewable generation, clean transportation, energy storage, and energy efficiency.
Read more about NY Green Bank
Excelsior Jobs Program
Encourages businesses to expand and relocate to New York, with enhanced green project tax credits for firms developing technologies that reduce emissions or support the use of clean energy.
Read more about Excelsior Jobs Program
Up to $200 million in grant funding is available to prepare and develop shovel-ready sites for industries such as clean tech and high-tech and semiconductor manufacturing.
Read more about Fast-NY
Workforce Development Incentives & Training
Provides funding and resources to support education, internships, training, and career pathways to build New York’s clean energy future.
Read more about Workforce Development Incentives & Training
Carbon Neutral Community Economic Development Program
Supports net-zero economic development projects spanning manufacturing, mixed use, downtown revitalization, and more across New York’s ten regions.
Read more about Carbon Neutral Community Economic Development Program
NYSERDA supports clean tech businesses with funding and resources to bring technologies from concept to commercialization.
Read more about Innovation
NYPA: Low-Cost Power
NYPA offers low-cost power from its hydropower facilities to support business operation and expansion in the Niagara region and in the counties near the St. Lawrence Power Project.
Read more about NYPA: Low-Cost Power
- Central Hudson : Support is available through a suite of programs for expanding the manufacturing sector in the Hudson Valley.
- Con Edison : Incentives are available for businesses looking to start, expand, or relocate in New York City or Westchester County.
- NYSEG & RG&E (Look Upstate NY ): Support is available to help existing businesses expand and attract new businesses, totaling over $90 million in assistance for over 450 projects since 2010.
- National Grid (Shovel Ready ): Support from economic development programs have provided more than $125 million in assistance for businesses in upstate New York.
- Orange & Rockland : Incentives are available for qualifying electric customers locating to or expanding within the O&R service territory.
- PSEG Long Island : Eligible businesses can receive incentives to occupy vacant spaces and revitalize business districts.