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News and Updates

02.26.18 - Tesla pushes for more dealerships

"Electric vehicle-maker Tesla wants to expand in New York, and on Monday night the company kicked off a campaign to push for the required legislation with an event at the Empire State Plaza."

"The company hopes to increase the number of locations statewide from the current five to 20, with requirements that five new stores be located in various upstate New York regions — including the Albany area. Assembly Majority Leader Joseph Morrelle, who sponsors the measure, A 8248, said the requirement to have locations in upstate New York would ensure access for residents there. 'The move to zero-emissions vehicles is clear. People are trying to reduce their carbon footprint; Tesla in particular is trying to make this affordable for consumers,' Morelle said. 'We have to develop new models that will allow consumers to access this.'"

"Increasing the number of electric vehicles on the road is seen as a key step to reduce greenhouse gas emissions and achieve Gov. Andrew Cuomo's goals on that front."

Read the full Politico PRO article here

02.21.18 - Following East Midtown rezoning, JPMorgan commits to new headquarters

"City Hall announced JPMorgan Chase plans to build a 2.5-million-square-foot headquarters at 270 Park Ave., pending further approval from the City Council and state officials."

"To complete the transaction, the company will buy unused development rights, also known as air rights, from landmarked properties in the surrounding area. The money would pay for upgrades to public spaces in the neighborhood."

"Mayor Bill de Blasio and Gov. Andrew Cuomo applauded the news. JPMorgan has called New York home since 1799."

Read the full Politico PRO article here

02.15.18 - Tesla to deploy new Powerpack battery systems with NY’s largest electric utility

"Con Edison, New York’s largest electric utility company, partnered with Tesla to propose a series of Powerpack installations that could provide grid services to the company. The project will see Tesla deploy several Powerpack systems with Orange and Rockland, a Con Edison subsidiary."

"The actual battery systems for the demonstration project will consist of a 4MW/8MWh portfolio of aggregated batteries located at individual battery sites behind-the-meter of commercial and industrial customers and co-located with distribution-connected remote solar projects. Con Edison says that all battery installations will be developed, designed, installed, operated, and maintained by Tesla."

"The electric utility wants to conduct the demonstration project over a three-year period. After being fully deployed, the $5.6 million project could pay for itself rather quickly by creating over $700,000 in value per year in the New York Independent System Operator’s energy, capacity and ancillary services markets."

Read the full Electrek article here

02.08.18 - ​Resorts World opening touted as ‘rebirth’ of Catskills

"The fourth, and by far the largest, full-scale casino opened Thursday on a site that had once been a jewel of the Borscht Belt. The $1.2 billion Resorts World Catskills is composed of a 1.6 million-square-foot resort complex that had once been the site of the Concord Hotel. "This is the rebirth of the Catskills," Lt. Gov. Kathy Hochul said at the opening. "I'm tired of people talking about the glory days of the Catskills and the Borscht Belt in the past tense.""

""They could have put these four casinos anywhere, but New York state showed its heart and not its greed, when it handed out these licenses," said state Sen. John Bonacic (R-Mount Hope), chair of the Senate's Racing, Gaming and Wagering Committee, whose district includes the casino. "Sullivan County needed it the most." Casinos' economic benefit was one of the major selling points of Gov. Andrew Cuomo's campaign to pass the 2013 constitutional amendment permitting these facilities. "Unfortunately, I'm old enough to remember the thriving Catskills resorts," Cuomo said in a video message played at the event. "There were decades of disinvestment. We saw other states capitalizing at our expense." Resorts World expects to employ about 2,000 people once fully staffed."

Read the full Politico article here

02.01.18 - LIA: Farmingdale State Revs A Strong Economic Engine

Smart money: Farmingdale State College has produced billions in regional domestic product over the last nine years, according to the Long Island Association.

"Higher education on Long Island may be dominated by Hofstra and Stony Brook Universities, but a relatively small SUNY school is proving to be the region’s little economic engine that could. A new and very detailed report compiled by Long Island Association Chief Economist John Rizzo pegs Farmingdale State College’s “economic impact” over the last nine years at $2.51 billion."

“Farmingdale is an engine of opportunity for its students and the region,” [College President John] Nader said Wednesday. “The investments we make in our students clearly yield great returns.” Put it all together, and Farmingdale State’s average annual economic output weighs in at better than $314 million, according to “Solving the Brain Drain,” with the college returning roughly $5 in economic output for every $1 invested by New York State between 2009 and 2017."

"That’s nearly as impressive as the 19,800 jobs the report credits the college with creating over those nine years, with a distinct emphasis on applied sciences and technology – fields of study that directly support the rising industries rapidly forming Long Island’s new economic spine. “As the report’s title indicated, we are addressing the ‘brain drain,’” Nader said. “Our students thrive here and contribute greatly to Long Island’s future.”"

Read the full InnovateLI article here

02.01.18 - Uber, Lyft take pledge to help make cities ‘livable’

"Uber and Lyft are leaders of an industry accused of choking Manhattan with traffic. But they are among 15 transportation and technology companies that just agreed to a set of principles aimed at ensuring innovations in mobility to make cities livable. The agreement, announced Thursday by a global nonprofit dedicated to sustainability, has no enforcement provisions but means to provide a framework of cooperation among local governments, private companies and nongovernmental organizations."

"Led by the World Resources Institute, the initiative comes as the transportation industry races into uncharted territory with the development of self-driving cars and a potential shift to shared vehicles in place of personal ownership. The 10 “shared mobility principles for livable cities” that the companies signed onto are a sort of moral code for that new world."

"Asked how they would square their pledge to support the efficient use of vehicles with a business model that relies on flooding the streets with cars, representatives from Uber and Lyft said they supported congestion pricing to ease traffic. They added that their respective pooled-ride services, UberPool and LyftLine, could play a role."

Read the full Crain's New York Business article here

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