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Governor Hochul Announces More than $38 Million Awarded in Round XI of the Regional Economic Development Council Initiative

Most Recent Round of Approved Awards Supports 47 Shovel-Ready Projects

Full List of Awardees To-Date Can Be Found Here

Governor Kathy Hochul today announced more than $38 million has been awarded to support 47 priority projects across New York State through the Regional Economic Development Council initiative. This year, $150 million in grant funds from Empire State Development was made available on a continuous and competitive basis to support the immediate needs of applicants. Additionally, projects within each region are eligible for a share of $75 million in Excelsior Jobs Tax Credits to help attract and grow business in their region. 

“New York is not only going to recover from the pandemic, but will flourish, and this new funding will attract companies that will help fuel our post-pandemic economy,” Governor Hochul said. “These awardees are going to bring good paying jobs to communities across the state, boosting local economies and bringing economic opportunity to all New Yorkers. I look forward to seeing the continued work of the Regional Economic Development Councils as they help usher in a more prosperous New York for decades to come.”   

Lieutenant Governor Brian Benjamin said, “As we rebound from the pandemic, we must invest in people and projects that will help usher in a new era in New York. The funding Governor Hochul and I are announcing today will go to businesses that we believe will achieve just that. I look forward to continuing to partner with the Regional Economic Development Councils across the state, so that we can keep local businesses at the heart of our State’s recovery effort.”

Empire State Development Acting Commissioner and President and CEO-designate Hope Knight said, “Our Regional Economic Development Councils have recommended projects that will capitalize on talent, infrastructure and industry in order to grow the local economy. We continue to invest in and support efforts to build back throughout New York State with a strategic focus on creating jobs and increasing opportunity now and for the future.” 

Read the full press release here.