Energy Catalyst, LLC (Capital Region) Among 19 Projects Awarded More Than $15 Million for Regional Economic Development.
Energy Catalyst’s heat pump system is the only ground source Energy Star-certified heat pump in North America that can reuse existing home baseboards and radiators. (Courtesy photo)
On February 5, Governor Kathy Hochul announced that over $15 million has been awarded to support 19 projects across New York State through the Regional Economic Development Council initiative. Round XIII included core capital grant and tax-credit funding from Empire State Development, which was made available on a continuous and competitive basis to support the immediate needs of communities. Funding will support impactful projects that align with each region’s strategic goals.
“With these investments in fast-growing sectors like broadband manufacturing and heat pump technology, the Regional Economic Development Council Initiative is continuing to unlock the economic potential of our state,” Governor Hochul said. “These businesses are driving innovation and creating good, stable jobs for New Yorkers, and thanks to our REDCs and significant state support, we are writing them into New York’s economic success story.”
This second round of projects was recommended by each Regional Council because of their project readiness and alignment with each region’s strategic plan. Highlights include:
Energy Catalyst, LLC (Capital Region) – $850,000 ESD Grant, $1.135 Million Excelsior Jobs Tax Credit: Energy Catalyst, LLC (EC) is a growing heat pump manufacturer and technology company the produces the only ground source Energy Star-certified heat pump in North America that can reuse existing home baseboards and radiators. EC will construct a new manufacturing facility including assembly line, testing lab, training area, and office spaces in North Troy.
A list of other recipients can be found at https://on.ny.gov/3HMvcy2
The REDC process continues to support and empower regional stakeholders in developing strategic plans and funding priorities that meet local economic needs. To date, more than $8 billion has been awarded to more than 9,900 job creation and community development projects through the REDC Initiative consistent with each region’s strategic plan.
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