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May 25, 2016 - 4:08pm

Steve Hyde named chairman of the NYS Economic Development Council

posted by Billie Owens in business, news, Milestones, Steve Hyde, GCEDC.

Press release:

Steve Hyde, president and CEO of Genesee County Economic Development Center (GCEDC), has been named chairman of the New York State Economic Development Council (NYSEDC). It is the state's largest economic development organization.

Hyde was elected to a two-year term during NYSEDC’s annual meeting in Cooperstown today (May 25). Hyde and the GCEDC have been members of the NYSEDC since 2004. 

The New York State Economic Development Council (NYSEDC) is the state’s principal organization representing economic development professionals, businesses and colleges and universities for more than 40 years. NYSEDC promotes the economic development of the state and its communities and encourages sound practices in the conduct of local, regional and statewide development programs, as well as develops education programs that enhance the professional development skills of NYSEDC members.

“Steve Hyde has outstanding private and public sector experience and leadership and his record of success in Genesee County will serve NYSEDC well during his term as Chair,” said Brian McMahon, executive director of NYSEDC.      

As president and CEO of GCEDC, Hyde has played a critical role in generating more than $1 billion in new investment in Genesee County through the years, resulting in thousands of new jobs and unprecedented economic development growth.

One of the most notable economic development accomplishments to date is the 1,250-acre Science and Technology Advanced Manufacturing Park (STAMP) in the town of Alabama, which is expected to generate thousands of jobs in the Western New York and Finger Lakes regions. Governor Andrew Cuomo announced in October 2015 the first tenant at STAMP – 1366 Technologies, which plans to build a state-of-the art solar wafer manufacturing facility creating approximately 1,000 new jobs over the next few years. 

“I have been very fortunate to work with some great public and private sector organizations in Genesee County which has resulted in me having the opportunity to serve as Chairman of NYSEDC,” Hyde said. “This opportunity will allow me to collaborate closely with various economic development leaders across New York State to create a more favorable climate for business growth and the retention and creation of jobs and private sector investment.”

Hyde holds a B.S. from Cornell University and an M.B.A. in finance, sales and marketing from Rochester Institute of Technology. He resides in the City of Batavia with his wife, Joann.

Ed Hartgrove
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"Hyde holds a B.S. from Cornell University ..."
Well, that's appropriate.

Lincoln DeCoursey
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Some oppose development subsidies as a matter of principle and this is an understandable viewpoint. I know many are also upset about bonuses paid to EDC executives. I suspect the development subsidies are actually necessary to win in competitive site selections where other states and localities are playing ball, especially when your prospective site is handicapped by being in New York State.

The ag park venture has worked. Those jobs are where they are because of the vision of GCEDC to invest in development and promotion of that site. Batavia would not have been on the radar for these multi-nationals otherwise. The STAMP thing similarly demonstrates major vision. Without strong leadership, the significant investment in ground work to develop an attractive, business-ready site would not have been achievable. All evidence points to this project as a budding success also -- it has major corporate commitment already.

What other rural, Republican county around here has these results? Obama and Cuomo are not about to fly in and deliver a bunch of jobs to some farm land, but local EDCs are an available tool. GCEDC in particular is an example of how the game can be successfully played in the current environment. To me, it seems apparent that Steve is at the top of his game and his peers statewide apparently think so too.

Howard B. Owens
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On the competition for projects involving IDAs across the country, this is a very interesting episode of NPR's Planet Money.

http://www.npr.org/sections/money/2016/05/04/476799218/episode-699-why-d...

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