Gov. Andrew M. Cuomo launched new
“GLOBAL NY” initiatives on Oct. 7 – including
a $35 million Global NY Development Fund and
trade missions to Mexico, Canada, Italy, China,
and Israel – to help create new jobs in New
York state and attract additional international
business investment to the state.
Cuomo outlined these new initiatives at the
first Global NY Summit on World Trade and
Investment at the Jacob K. Javits Convention
Center in New York City.
“The fundamental role for government
should be to develop the economy, because if
the economy is running, and jobs are coming
in, people have opportunity,” Cuomo said.
“Our work four years ago began with bringing
down the cost of doing business in New York
– and we did, with the lower income taxes
for every single New Yorker and the lowest
manufacturing tax in nearly a century … We
will aggressively market the state, and share
with the global business community that
there is no better place, with no better tools
and resources, than the Empire State to grow
and compete.”
GlobalFoundries New York Chief Executive
Dr. Thomas Caulfield said, “Advanced
manufacturing offers the promise of economic
opportunity and serves as a catalyst for significant
job growth and economic expansion
throughout our economy.
“The unique and collaborative publicprivate
partnership between GlobalFoundries
and New York state has resulted in more
than $10 billion of investment in our new
Fab 8 campus in upstate New York. Our new
manufacturing campus is now at the forefront
of a new renaissance of American advanced
manufacturing, creating thousands of highpaying,
high-skilled jobs and driving the
regional economy. GlobalFoundries is proud to
be part of the Global NY Summit and proud to
be driving the momentum of new opportunities
in advanced manufacturing here in New
York State.”
The new Global NY initiatives that Governor
Cuomo outlined at today’s summit, include:
$35 Million Global NY Development
Fund. The fund will help small- and mediumsized
New York companies tap into global
markets to grow their exports and create new
jobs in our state. It includes the following initiatives, which will help spur additional
private investment above the state resources
dedicated:
• $25 million Lending Program. Empire
State Development will dedicate $25 million
and work in partnership with more than 20
private lenders in the state to leverage at
least $50 million of additional overall small
business lending. The program is targeted to
small businesses that have had difficulty accessing
credit markets and will provide loans
to help companies develop capacity to enter
new markets.
• $10 million grant fund to provide up to
$25,000 to small- and medium-sized firms
to develop export capacity, including export
marketing plans, website translation, product
adaptation and market certification.
• Partnership with the Federal Export/
Import (Ex-Im) Bank. New York will partner
with the Federal Ex-Im Bank to connect creditworthy
small businesses to export financing.
The program will provide short-term loans of
up to $500,000.
• Global NY Trade/Investment Missions.
Cuomo said the state will participate in five
new trade missions to help connect New
York businesses to export and international
investment opportunities. These include trade
missions to Mexico, Canada, Italy, China, and
Israel.
• Global NY One-Stop Shop Website (global.
ny.gov). Foreign and local businesses will now
have one address to find out more about business
opportunities in our state and abroad that
can help grow jobs in New York. At www.global.ny.gov, businesses can connect to START-UP
NY and other state incentive programs, learn
about Regional Economic Development Councils
and their assets and industry specialties,
connect with New York state’s trade offices all
over the world; and discover what makes New
York the global state of opportunity.
• New Taste NY Shop at Javits Convention
Center. New York’s finest food and beverages
will be available to consumers at the Javits
Convention Center, helping to raise the profiles
and sales of New York food and beverage
makers. Drawing more than 2 million visitors
annually, the Javits Center will expose foreign
consumers to the best products that the state
has to offer.