New York State has committed more than $43 million in the current budget year to advance the development of five strategic sites across upstate New York, aiming to attract high-growth industries such as semiconductor manufacturing, clean energy, and life sciences. The funding, distributed through the FAST NY (Focused Attraction of Shovel-Ready Tracts New York) program, is part of the state’s broader effort to revitalize regional economies and prepare sites for future employers.

The largest portion of the funding—$25.48 million—has been directed to the Village of Maybrook in Orange County to support the redevelopment of the historic Maybrook Rail Yard. The project is expected to transform the area into a modern industrial hub, with upgraded infrastructure to accommodate advanced manufacturing operations.

In Fulton County, the Tryon Technology Park will receive $8.99 million. The funds will be used to revitalize the former juvenile detention facility, which has already been partially redeveloped into a business park. The investment is poised to enhance the site’s appeal to technology and life science companies.

Central New York Business Center in Herkimer County is set to benefit from a $7.9 million allocation. The funding will go toward infrastructure improvements designed to support future industrial tenants and encourage job growth in the region.

Albany and Erie counties will each receive $500,000 for pre-development work. These funds are intended to help local officials conduct the necessary planning, environmental assessments, and site preparation to attract future investment.

Overall, the FAST NY program has awarded $326 million since its inception, with $100 million added in the current state budget. State officials said the initiative is expected to generate approximately $2.2 billion in private investment and create nearly 3,000 jobs across the state.

The program is designed to address the challenges that many upstate communities face in attracting employers, particularly in areas that have experienced a decline in manufacturing jobs. By investing in site readiness, the state hopes to position these regions for long-term economic growth.

As of now, development work is underway or in planning stages at each of the five sites, with state officials emphasizing the importance of restoring economic vitality to historically underserved areas.