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Minority business enterprise (MBE) is an American designation for businesses which are at least 51% owned, operated and controlled on a daily basis by one or more (in combination) American citizens of the following ethnic minority and/or gender (e.g. woman-owned) and/or military veteran classifications: [citation needed]
Since 1995, four entities have been operationally merged and referred to as Empire State Development (ESD): [5] [6] Urban Development Corporation (UDC), d/b/a Empire State Development Corporation (ESDC) [1] [7] In 2017, the UDC had operating expenses of $1.282 billion, an outstanding debt of $12.895 billion, and a staffing level of 351 people. [22]
They may also declare that a percentage of the work performed on a contract be awarded to an MBE or WBE. [10] [11] [12] In New York State, a goal was set in 2014 for the award of public contracts to women and minority businesses to increase from 20% in 2014 to 30% by 2019. [13]
In 2009, Empire State Development (ESD) reported 82 Empire Zones statewide where over 9,800 certified businesses employed over 380,000 people. However, the cost of the program also escalated from $30 million in 2000 to $582 million in 2008.
Pages in category "Empire State Development Corporation" The following 8 pages are in this category, out of 8 total. This list may not reflect recent changes. B.
The Lower Manhattan Development Corporation was formed in November 2001 by then-Governor George Pataki and then-Mayor Rudolph Giuliani. [2] The LMDC is a joint State-City corporation governed by a 16-member Board of Directors, half appointed by the Governor of New York and half by the Mayor of New York. As a result, Pataki and Giuliani ...
In September 2021, after Andrew Cuomo stepped down, Foye announced he would not become the CEO of Empire State Development, and allow Kathy Hochul to nominate her own choice. [15] Since leaving government, Foye has advocated on behalf of ASTM in support of their proposal for a new 8th avenue entrance to Pennsylvania Station (New York City). [16]
Reorganized as Empire State Development, the combined agencies now function as a streamlined economic development organization whose primary mission is the facilitation of business growth and job creation across New York State."