In 1995, a number of agencies, which had previously functioned independently, were consolidated in order to increase efficiency, reduce overhead and enhance the delivery of the State's economic development initiatives. The functions of the Department of Economic Development (DED) and the Urban Development Corporation (UDC) were consolidated, along with other State economic development entities: the Job Development Authority (JDA) and the Science and Technology Foundation (STF). UDC's directors also decided that the corporation would do business as the Empire State Development Corporation (ESDC). Reorganized as Empire State Development, the combined agencies now function as a streamlined economic development organization whose primary mission is to facilitate business growth and job creation across New York State.
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The Empire State Development (ESD) is the parent organization for New York's two principal economic development financing entities: the Empire State Development Corporation and the Job Development Authority. Its primary mission is to facilitate business growth and job creation across New York State.
