New York State Consolidated Funding Application Now Open With Available Funding from 30 Programs
Councils Will Update Strategic Plans to Reflect Regional Strengths and Priorities
New Competition Will Award Three Regions with $10 Million Each for Implementing Creative Solutions to Statewide Challenges
New Micro Programs Will Award Capital Grants to Craft Beverage Manufacturers and Non-Profit Organizations
Governor Hochul today announced the launch of Round XIII of the Regional Economic Development Council Initiative. Round XIII includes core capital grant and tax-credit funding combined with a wide range of programs from 10 State agencies, including $150 million in grant funds from Empire State Development, available to projects on a continuous basis. The Councils are encouraged to support projects that advance or address strategic State priorities - including green buildings and sustainable development, child care, distressed communities, and innovative public-private partnerships; those projects, will be eligible for additional award funding. New this year, two new micro programs will award capital grants to support New York State craft beverage manufacturers and non-profit organizations, and a new $30 million Challenge competition will award $10 million to up to three regions to implement creative solutions to tackle persistent barriers to economic growth. Also, for the first time since 2015, the Councils will be tasked with updating their strategic regional economic development plans.
"Our Regional Economic Development Council Initiative continues to transform communities across the state, creating jobs and driving private investment all over New York," Governor Hochul said. "The launch of this latest round builds on state efforts to address our most pressing economic priorities — from sustainable development to the growing demand for childcare — all while empowering communities to tap into their regional strengths. Thanks to the work of the REDCs, New York is continuing to make the catalytic investments that foster economic growth and continued success in every corner of our state."
"I am proud to lead the next round of the Regional Economic Development Council initiative and guide the councils on a path forward that re-establishes each region's priorities for growth," said Lieutenant Governor Antonio Delgado. "Through coordination and collaboration, we will identify opportunities to advance key industries, advance projects that meet regional needs and enhance each region's economic vision for the future."
Empire State Development President, CEO and Commissioner Hope Knight said, "While the Regional Economic Development Council Initiative has been a successful model for economic growth in New York State, at the direction of Governor Hochul, we have been tasked to improve and enhance key programs that will expand on our many successes. Each region will update their strategic plans to re-establish their priorities for growth, continue to guide the deployment of resources, and create an updated road map for each region to achieve its economic vision for the future."