Today, the New York Wine and Grape Foundation released their Annual Report for the 2022-2023 State Fiscal Year. The Annual Report provides a summary of the Foundation’s operations and accomplishments during the fiscal year. The report also includes information on the amount of funding designated for applied research and the types of research conducted; and the amount of funding designated for promotion, and the effectiveness of the promotional program.
With funding from the State matched by private sector dollars, the Foundation has served as a catalyst for the industry’s extraordinary growth. The Foundation supports new wineries to get established, funds vital research on grape growing and wine making at Cornell University and other leading research institutions, supports programs to stimulate tourism, conducts programs to get New York wines into major urban markets like New York City, and enhances the reputation for quality of New York wines on a national and international basis.
The State’s investment in the wine and grape industry provides sound economic returns in the form of tax revenue, jobs, and rural economic development. This public-private partnership drives the grape and wine industry’s growth and makes it a major state economic engine that generates more than $14.93 billion in direct economic impact.*
This longstanding public-private partnership has yielded an extraordinary return on investment for the State. We look forward to strengthening our relationship with the State to advance our mission to support the economic development of the grape and wine industry.
*Source: https://wineamerica.org/economic-impact-study/new-york-wine-industry/ New York Economic Impact Study 2022. Part of the 2022 National Economic Impact Study of the Wine Industry by John Dunham & Associates.