Governor Hochul Announces Over $81 Million Awarded in Round XI of the Regional Economic Development Council Initiative

November 22, 2021

First Batch of Approved Awards Include 97 Shovel- Ready Projects to Stimulate New York's Post-Pandemic Recovery

Full List of Awardees Thus Far Can be Found Here

Governor Kathy Hochul today announced that over $81 million has been awarded to support 97 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 Program Tax Credits to help attract and grow business in their region.

"The pandemic toll touched every corner of the state and every sector of New York's economy, and as a result we must ensure that our recovery does the same," Governor Hochul said. "As we move forward from the pandemic we are using the rolling grant process to build New York State back better by supporting shovel-ready projects with the potential to accelerate new investments and catalyze economic growth in every community."

"Through a collaborative, bottom up, and regional approach to economic development, these projects were chosen for their innovation, impact on their communities and potential for positive change coming out of the pandemic," said Lieutenant Governor Benjamin. "Whether it is workforce development, tourism, green investments or domestic manufacturing, we are moving forward to foster a strong and prosperous economy in New York 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 Acting Commissioner and President & CEO-designate Hope Knight said, "The COVID pandemic has had a devastating impact on our state, and this is especially true for the businesses and organizations that are the foundation of our economy.  The Regional Economic Development Councils, made up of people who know their own communities best, have recommended innovative projects that will help their regions rebuild, and reemerge stronger and smarter for the future."

Read the full press release here.