FAST New York Shovel-Ready Grant Program

The Focused Attraction of Shovel-Ready Tracts New York (FAST NY) Grant Program is administered by Empire State Development (ESD), the chief economic development agency for New York State. With backing from the State of New York, including Governor Kathy Hochul, the program is designed to increase the availability and marketability of shovel-ready industrial sites to attract large employers in strategic industries such as semiconductor manufacturing, high-tech manufacturing, and distribution and logistics. The program was originally allocated $200 million under the FY 2023 State Budget and was later augmented with an additional $100 million through the FY 2024 Budget, bringing the total available program funding to $300 million. The FAST NY Program offers three distinct funding tracks. Track A provides a non-monetary FAST NY Site Certification, which is a no-cost designation confirming that a site has addressed significant permitting and development issues. Track B offers pre-development grants up to $500,000 per site, or up to $1,000,000 for sites with compelling attributes, to support early-stage activities such as engineering, surveying, environmental studies, and infrastructure design necessary for certification. Track C funds infrastructure improvements for sites that have substantially met the certification requirements, allowing investment in critical infrastructure such as water, sewer, roads, electricity, gas, and telecommunications systems. Eligible applicants include municipalities, municipally designated non-profit economic development organizations, and municipally designated local development corporations or industrial development agencies. Sites must generally be at least 40 acres, although exceptions may be granted for smaller parcels with significant public benefits or locational advantages. The applicant must either own or control the site, or provide written consent from the site owner and controlling entity. Applications are accepted on a rolling basis and must be submitted via the New York State Consolidated Funding Application (CFA) online portal. A Letter of Intent is required as a precursor to the full application. Once submitted, applications undergo completeness review, site visits, and scoring by an internal project review committee. A non-refundable application fee of $250 is required for Tracks B and C. Awardees must also pay a 1% commitment fee based on the awarded amount and are responsible for reimbursing ESD for out-of-pocket costs associated with the grant process. Evaluation criteria for grant approval include demonstration of industry interest, alignment with regional economic strategies, financial viability, and leveraged investment. Track B applicants must commit to completing all FAST NY Certification requirements, while Track C applicants must have already substantially completed these requirements. Additional documentation requirements vary by track but typically include environmental assessments, traffic studies, site plans, and letters of support from local governing bodies. Finally, the program incorporates New York State’s commitments to non-discrimination and supplier diversity, requiring good faith efforts toward participation by certified minority- and women-owned businesses (MWBEs) and service-disabled veteran-owned businesses (SDVOBs). Awards will continue to be allocated on a rolling basis until funds are depleted. Further information, including application resources and Letter of Intent templates, is available at https://esd.ny.gov/fast-ny.

Applicants should ensure early and complete compliance with FAST NY Certification requirements and secure local government support.