Governor Cuomo Announces Peekskill as $10 Million Mid-Hudson Winner of Fourth-Round Downtown Revitalization Initiative

August 13, 2019

State to Collaborate with Mid-Hudson Regional Economic Development Council to Revitalize Peekskill's Downtown

Part of Governor's Comprehensive Approach to Transform Communities into Vibrant Neighborhoods and Boost Local Economies

Downtown Revitalization Investments Are Crucial Part of Mid-Hudson's Comprehensive Strategy to Revitalize Communities and Grow the Economy

Governor Andrew M. Cuomo today announced that Peekskill will receive $10 million in funding as the Mid-Hudson winner of the fourth round of the Downtown Revitalization Initiative. As in the first three rounds of the DRI, one municipality from each of the state's 10 regional economic development regions is selected as a $10 million winner, marking another overall state goal to target $100 million in funding and investments to help communities boost their economies by transforming downtowns into vibrant neighborhoods where the next generation of New Yorkers will want to live, work and raise a family.

"With the downtown revitalization initiative, we challenged local governments to propose innovative ideas to create jobs and drive economic growth," Governor Cuomo said. "Peekskill proposed a brilliant plan that builds on their natural resources including the beautiful waterfront - a magnet that draws people and businesses to the area. And they demonstrated they have the secret ingredient: the capacity to actually get it done. This investment will help Peekskill utilize these assets to maximize their full potential."

"Peekskill has so much to offer with arts, entertainment, and restaurants along the waterfront," said Lieutenant Governor Kathy Hochul. "This significant funding as part of the Downtown Revitalization Initiative will continue to grow the downtown area and increase tourism in the area. Through the Mid-Hudson Regional Economic Development Council, local projects will build on the city's employment and recreational opportunities, increasing quality of life and strengthening the local economy."

Read the full press release here.