Second Batch of Approved Awards Include 21 Shovel-Ready Projects
Full List of Awardees Thus Far Can Be Found Here
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Governor Kathy Hochul today announced that over $22 million has been awarded to support 21 projects across New York State through the Regional Economic Development Council initiative. Round XII included core capital grant and tax-credit funding from Empire State Development, which was made available on a continuous and competitive basis to support the immediate needs of communities. Funding will support impactful projects that align with each region’s strategic goals.
“Together, the Regional Economic Development Councils are growing New York’s economy by emphasizing the rich assets in every corner of our state and investing in projects that will create good, high-quality jobs,” Governor Hochul said. “As we continue to make deep investments in New York communities, we remain committed to doing so in a way that expands opportunity, drives private investment, and bolsters our talented workforce.”
“By recommending shovel-ready projects that support each region’s strategic plans, the Regional Economic Development Councils are improving communities now as well as for future generations,” said Lieutenant Governor Delgado. “These projects showcase how the Regional Councils are laser focused on driving economic growth and prosperity across the State.”
The application for ESD Grant funds remains open, and applications are being reviewed on an on-going basis until funds are exhausted. Applicants with strong, shovel-ready projects that align with the state and region’s economic development priorities can apply through the Consolidated Funding Application.
Empire State Development President, CEO and Commissioner Hope Knight said, “The Regional Councils continue be an important voice for communities across the state by recommending projects that will drive our economy forward. These awards will further transform local economies across the state by creating good jobs and generating new investments.”
This second round of projects was recommended by each Regional Council because of their project readiness and alignment with each region’s strategic plan. Highlights include:
The REDC process continues to support and empower regional stakeholders in developing strategic plans and funding priorities that meet local economic needs. To date, more than $7.7 billion has been awarded to more than 9,500 job creation and community development projects through the REDC Initiative consistent with each region’s strategic plan.
About the Consolidated Funding Application
The Consolidated Funding Application was created to streamline and expedite the grant application process. The CFA process marks a fundamental shift in the way state resources are allocated, ensuring less bureaucracy and greater efficiency to fulfill local economic development needs. The CFA serves as the single-entry point for access to economic development funding, ensuring applicants no longer have to slowly navigate multiple agencies and sources without any mechanism for coordination. Now, economic development projects use the CFA as a support mechanism to access multiple state funding sources through one application, making the process quicker, easier, and more productive. Learn more about the CFA here.
About the Regional Economic Development Councils
The Regional Economic Development Council initiative is a key component of the State’s approach to State investment and economic development. In 2011, 10 Regional Councils were established to develop long-term strategic plans for economic growth for their regions. The Councils are public-private partnerships made up of local experts and stakeholders from business, academia, local government, and non-governmental organizations. The Regional Councils have redefined the way New York invests in jobs and economic growth by putting in place a community-based, bottom up approach and establishing a competitive process for State resources. Learn more at regionalcouncils.ny.
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