Hochul budget boosts biotech, quantum hubs and manufacturing modernization, ESD says

Empire State Development President Hope Knight told a joint Senate‑Assembly budget hearing that the governor’s executive budget seeks to expand New York’s industry ecosystems by combining targeted capital with workforce and regional programs.

Knight highlighted three headline investments: a $65,000,000 “bolstering biotechnology” initiative aimed at discovery‑to‑commercialization (clinical trials support, a state venture fund and workforce training), $60,000,000 to establish regional quantum technology hubs, and a $10,000,000 manufacturing modernization package split between competitive centers and a grant program to help small and mid‑sized manufacturers adopt new technologies. “It is 43 North — the long standing competition — and it is the last cycle of funding for 43 North,” Knight said when asked about a Western New York venture competition line item.

Legislators pressed for program design details — siting criteria for quantum hubs, whether biotech funds prioritize clinical‑stage support or basic research, and whether manufacturing grants will require local cost share. Knight said program guidelines will be developed if the budget is approved and stressed ESD’s outreach plans for MWBE participation across the state.

ESD also reiterated existing initiatives such as the $500,000,000 small business credit initiative and sector‑specific projects tied to the Micron and Chobani investments. Lawmakers asked for follow‑up on Micron permitting and wastewater treatment agreements; ESD said some local agreements remain under county negotiation and that project timelines have been adjusted for complexity but the projects remain active.

If funded, ESD officials said the new hubs and commercialization investments aim to crowd in private capital, support commercialization pipelines, and anchor workforce pipelines tied to SUNY, CUNY and community colleges.