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Press Release
Wednesday, October 3, 2018 - 2:03pm
Eighth Annual MWBE Forum Promotes Networking and State Contracting Opportunities
Third Annual Carey Gabay Excellence and Innovation Awards Honor Outstanding MWBE Businesses
Governor Cuomo announced that the utilization rate for Minority and Women-Owned Business Enterprises participating in State contracts increased to 28.62 percent for the 2017-18 Fiscal Year - the highest in the nation - with MWBEs winning more than $2.5 billion in State contracts. The announcement was made in conjunction with New York State's eighth annual MWBE Forum at the Empire State Plaza Convention Center in Albany.
"New York is building a stronger tomorrow by ensuring that our minority-and women-owned businesses have the opportunity to grow and thrive," Governor Cuomo said. "Our nation-leading utilization rate is a testament to our unparalleled network of MWBEs that continues to grow in size and scope, reflecting the State's rich diversity."
"As a woman who helped start a family women-owned small business, I know firsthand the barriers faced by aspiring entrepreneurs," said Lieutenant Governor Kathy Hochul. "We are leading the nation in our MWBE utilization, increasing the rate to nearly 29 percent. We must do everything in our power to provide opportunities for minority and women-owned businesses, and we're continuing to expand the state's program to help break down barriers and help entrepreneurs take their business to the next level."
Read the full press release here.
Report
Wednesday, October 3, 2018 - 1:24pm
ESD's Division of Minority and Women’s Business Development oversees the statewide MWBE program operated by state agencies as defined by Article 15-A. Below please find the annual DMWBD report for Fiscal Year 2017-2018.
Division of Minority and Women's Business Development Annual Report: FY 2017-2018
Board Meeting
Wednesday, October 3, 2018 - 9:00am
Press Release
Tuesday, October 2, 2018 - 1:04pm
The Long Island Regional Economic Development Council (LIREDC) announced it recently submitted its 2018 Progress Report to New York State to meet the October 1 deadline. The progress report details the council’s achievements in implementing its strategic plan and reflects Long Island’s progress on efforts to ensure sustainable and long-term growth in the region and to leverage the region’s advantages in key industry sectors, including advanced manufacturing, food and agriculture, and life sciences.
In furtherance of these goals, strategies and initiatives, the report recommends 39 priority projects to advance the region’s growth objectives. These projects, located in both Nassau and Suffolk Counties, represent a total proposed state investment of at least $18,732,500 million, leveraging $119,073,482 million in private and other funding for total project expenses of more than $137,805,982 million. Collectively, these priority projects would support the creation of 284 new jobs, the retention of 370 existing jobs, and leverage a return on investment of 6 to 1.
Detailed information about the LIREDC’s 2018 endorsed priority projects is available in the progress report here.
LIREDC Co-chair and Hofstra University President Stuart Rabinowitz said, “I am proud and excited to be a part of LIREDC work in generating economic development and helping to improve the lives of all Long Islanders. Through strategic investments in a variety of key industries such as life sciences and advanced manufacturing, we can ensure the region continues to grow for decades to come.”
LIREDC Co-chair and Long Island Association President Kevin Law said, “The LIREDC 2018 Progress Report shows the success of the state’s community-driven model of economic development that drives the opportunity economy. I look forward to continuing to foster strong workforce development programs and innovative companies throughout Long Island.”
Round VIII of the REDC initiative will award more than $750 million in state funding and tax incentives, including up to $150 million in capital grants and up to $75 million in Excelsior Tax Credits for projects and activities identified by the Councils as regional priorities in their communities. Additionally, over $525 million from state agency programs will be awarded through the CFA process. Funding awards will be announced by the end of the year.
The REDC process has transformed New York State government’s approach to economic development, creating a statewide framework for bottom-up, regional economic growth and streamlining the state funding application process. Since 2011, the first year of the initiative, over $5.4 billion has been awarded to more than 6,300 projects that are projected to create and retain more than 220,000 jobs statewide.
2018 REDC Competition
In 2018, all 10 REDCs will be competing for a designation as a Top Performer. Five Top Performers will be selected and will receive up to $20 million in Empire State Development Capital Grant funding, with the remaining five regions receiving up to $10 million in Empire State Development Capital Grant funding. Each region will also receive $10 million to implement projects identified through the Downtown Revitalization Initiative, and projects from all 10 regions submitted through the CFA will be eligible for over $525 million in other state agency funds.
About the Consolidated Funding Application
As part of Governor Cuomo’s efforts to improve the state’s economic development model, a NYS Consolidated Funding Application (CFA) 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. To access the CFA, please visit https://apps.cio.ny.gov/apps/cfa/.
About the Regional Economic Development Councils
The Regional Economic Development Council (REDC) initiative is a key component of Governor Cuomo's approach to State investment and economic development. In 2011, Governor Cuomo established 10 Regional Councils 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. After seven rounds of the REDC process, over $5.4 billion has been awarded to job creation and community development projects consistent with each region’s strategic plans, projecting to create and retain more than 220,000 jobs. For more information on the Regional Councils, visit www.regionalcouncils.ny.gov.
Contact:
Adam Kilduff | [email protected] | (212) 803-3744
ESD Press Office | [email protected] | (800) 260-7313
Press Release
Tuesday, October 2, 2018 - 12:55pm
The New York City Regional Economic Development Council (NYCREDC) today announced it recently submitted its 2018 Progress Report to New York State to meet the October 1 deadline. The progress report details the council’s achievements in implementing its strategic plan and reflects New York City’s progress on efforts to ensure sustainable and long-term growth in the five-county region and to leverage the region’s advantages in key industry sectors, including financial services, technology, life sciences and tourism.
In furtherance of these goals, strategies and initiatives, the report recommends 14 priority projects to advance the region’s growth objectives. These projects, located in all five boroughs, represent a total proposed state investment of at least $20 million, leveraging private and other funding for total project expenses of more than $489 million. Collectively, these priority projects would support the creation of 946 new jobs, 4,584 indirect jobs, 1,314 construction jobs and the retention of 850 existing jobs, and leverage a return on investment of 24 to 1.
Detailed information about the NYCREDC’s 2018 endorsed priority projects is available in the progress report here.
“We are proud that New York City’s economic output has reached an all-time high and the city is adding more jobs, showing the success of the state’s community-based economic development strategy,” said Cheryl A. Moore, NYCREDC Co-chair and President & COO of the New York Genome Center. “The NYCREDC will continue to work hard to support all New Yorkers and the many people who seek their fortunes here from around the world.”
“The NYCREDC 2018 Progress Report shows that the Big Apple continues to be a thriving economic success that draws the world’s top talent,” said Winston Fisher, NYCREDC Co-chair and Partner of Fisher Brothers. “The NYCREDC will ensure that New York City’s economy expands in key industries like life sciences, financial services and technology while pursuing a regional, bottom-up strategy for economic development to serve the city well for decades to come.”
Round VIII of the REDC initiative will award more than $750 million in state funding and tax incentives, including up to $150 million in capital grants and up to $75 million in Excelsior Tax Credits for projects and activities identified by the Councils as regional priorities in their communities. Additionally, over $525 million from state agency programs will be awarded through the CFA process. Funding awards will be announced by the end of the year.
The REDC process has transformed New York State government’s approach to economic development, creating a statewide framework for bottom-up, regional economic growth and streamlining the state funding application process. Since 2011, the first year of the initiative, over $5.4 billion has been awarded to more than 6,300 projects that are projected to create and retain more than 220,000 jobs statewide.
2018 REDC Competition
In 2018, all 10 REDCs will be competing for a designation as a Top Performer. Five Top Performers will be selected and will receive up to $20 million in Empire State Development Capital Grant funding, with the remaining five regions receiving up to $10 million in Empire State Development Capital Grant funding. Each region will also receive $10 million to implement projects identified through the Downtown Revitalization Initiative, and projects from all 10 regions submitted through the CFA will be eligible for over $525 million in other state agency funds.
About the Consolidated Funding Application
As part of Governor Cuomo’s efforts to improve the state’s economic development model, a NYS Consolidated Funding Application (CFA) 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. To access the CFA, please visit https://apps.cio.ny.gov/apps/cfa/.
About the Regional Economic Development Councils
The Regional Economic Development Council (REDC) initiative is a key component of Governor Cuomo's approach to State investment and economic development. In 2011, Governor Cuomo established 10 Regional Councils 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. After seven rounds of the REDC process, over $5.4 billion has been awarded to job creation and community development projects consistent with each region’s strategic plans, projecting to create and retain more than 220,000 jobs. For more information on the Regional Councils, visit www.regionalcouncils.ny.gov.
Contact:
Adam Kilduff | [email protected] | (212) 803-3744
ESD Press Office | [email protected] | (800) 260-7313
Press Release
Tuesday, October 2, 2018 - 12:46pm
The Mid-Hudson Regional Economic Development Council (MHREDC) today announced it recently submitted its 2018 Progress Report – entitled Growing Tomorrow, Building Today – to New York State to meet the October 1 deadline. The progress report details the council’s achievements in implementing its strategic plan and reflects the region's progress on efforts to ensure sustainable and long-term growth in the seven-county region and to leverage the region’s advantages in key industry sectors, including advanced manufacturing, food and beverage, biotechnology and life sciences.
In furtherance of these goals, strategies and initiatives, the report recommends 21 priority projects to advance the region’s growth objectives. These projects have the potential to generate over $164 million in economic activity and leverage private dollars at a ratio of 8 to 1. Collectively, these priority projects are projected to support the creation of 622 new permanent jobs, 1,085 indirect jobs, and the retention of 677 existing jobs.
Detailed information about the MHREDC’s 2018 endorsed priority projects is available in the progress report at https://regionalcouncils.ny.gov/mid-hudson.
Donald P. Christian, SUNY New Paltz President and MHREDC Co-Chair, said, "The Mid-Hudson region continues to be well-served by dedicated Council members from a variety of fields who are keenly focused on sustaining and enhancing the Hudson Valley’s economic potential. This year’s priority projects help meet this goal. They align well with the region’s strengths, support job retention and creation, and are projected to generate significant economic activity across multiple counties. We are pleased that the Governor’s regional approach to economic development is represented well in this report."
Round VIII of the REDC initiative will award more than $750 million in state funding and tax incentives, including up to $150 million in capital grants and up to $75 million in Excelsior Tax Credits for projects and activities identified by the Councils as regional priorities in their communities. Additionally, over $525 million from state agency programs will be awarded through the CFA process. Funding awards will be announced by the end of the year.
The REDC process has transformed New York State government’s approach economic development, creating a statewide framework for bottom-up, regional economic growth and streamlining the state funding application process. Since 2011, the first year of the initiative, over $5.4 billion has been awarded to more than 6,300 projects that are projected to create and retain more than 220,000 jobs statewide.
2018 REDC Competition
In 2018, all 10 REDCs will be competing for a designation as a Top Performer. Five Top Performers will be selected and will receive up to $20 million in Empire State Development Capital Grant funding, with the remaining five regions receiving up to $10 million in Empire State Development Capital Grant funding. Each region will also receive $10 million to implement projects identified through the Downtown Revitalization Initiative, and projects from all 10 regions submitted through the CFA will be eligible for over $525 million in other state agency funds.
About the Consolidated Funding Application
As part of Governor Cuomo’s efforts to improve the state’s economic development model, a NYS Consolidated Funding Application (CFA) 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. To access the CFA, please visit https://apps.cio.ny.gov/apps/cfa/.
About the Regional Economic Development Councils
The Regional Economic Development Council (REDC) initiative is a key component of Governor Cuomo's approach to State investment and economic development. In 2011, Governor Cuomo established 10 Regional Councils 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. After seven rounds of the REDC process, over $5.4 billion has been awarded to job creation and community development projects consistent with each region’s strategic plans, projecting to create and retain more than 220,000 jobs. For more information on the Regional Councils, visit www.regionalcouncils.ny.gov.
Contact:
ESD Press Office | [email protected] | (800) 260-7313
Press Release
Tuesday, October 2, 2018 - 12:41pm
The Capital Region Economic Development Council (CREDC) today announced it recently submitted its 2018 Progress Report – entitled Capital Region CREATES – to New York State to meet the October 1 deadline. The progress report details the council’s achievements in implementing its strategic plan and reflects the Capital Region's progress on efforts to ensure sustainable and long-term growth in the eight-county region and to leverage the region’s advantages in key industry sectors, including high-tech manufacturing, life sciences and the creative economy.
In furtherance of these goals, strategies and initiatives, the report recommends 22 priority projects to advance the region’s growth objectives. These projects represent a total proposed state investment of at least $36 million, leveraging $182 million in private and other funding for total project expenses of more than $218 million. Collectively, these priority projects would support the creation of 665 new jobs, 1,115 indirect jobs, the retention of 1,462 existing jobs.
Detailed information about the CREDC’s 2018 endorsed priority projects is available in the progress report at www.regionalcouncils.ny.gov/capital-region.
Ruth Mahoney, CREDC Co-Chair and KeyBank Market President, said, "The progress report provides both a detail of the region's projects and a snapshot of our economic performance. It shows that we are a region of growth, innovation and cultural richness, and it shows how the projects supported by the CREDC are impacting the full range of our communities--from our largest urban centers to rural agricultural districts. The projects detailed for 2018 will not only support job growth and economic opportunity, but they will also reinforce and strengthen the Capital Region's reputation a great place to live, work, learn, and play."
Dr. Havidán Rodríguez, CREDC Co-Chair and University at Albany President, said, "This year’s proposed projects will build on past success to support further economic growth across the region. With mixed-use development in underserved areas, investments in sustainable infrastructure, and targeted workforce development proposals, these priority projects will continue the Council’s track record of investments that catalyze a better way of life in communities across the eight counties of our region."
Round VIII of the REDC initiative will award more than $750 million in state funding and tax incentives, including up to $150 million in capital grants and up to $75 million in Excelsior Tax Credits for projects and activities identified by the Councils as regional priorities in their communities. Additionally, over $525 million from state agency programs will be awarded through the CFA process. Funding awards will be announced by the end of the year.
The REDC process has transformed New York State government’s approach economic development, creating a statewide framework for bottom-up, regional economic growth and streamlining the state funding application process. Since 2011, the first year of the initiative, over $5.4 billion has been awarded to more than 6,300 projects that are projected to create and retain more than 220,000 jobs statewide.
2018 REDC Competition
In 2018, all 10 REDCs will be competing for a designation as a Top Performer. Five Top Performers will be selected and will receive up to $20 million in Empire State Development Capital Grant funding, with the remaining five regions receiving up to $10 million in Empire State Development Capital Grant funding. Each region will also receive $10 million to implement projects identified through the Downtown Revitalization Initiative, and projects from all 10 regions submitted through the CFA will be eligible for over $525 million in other state agency funds.
About the Consolidated Funding Application
As part of Governor Cuomo’s efforts to improve the state’s economic development model, a NYS Consolidated Funding Application (CFA) 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. To access the CFA, please visit https://apps.cio.ny.gov/apps/cfa/.
About the Regional Economic Development Councils
The Regional Economic Development Council (REDC) initiative is a key component of Governor Cuomo's approach to State investment and economic development. In 2011, Governor Cuomo established 10 Regional Councils 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. After seven rounds of the REDC process, over $5.4 billion has been awarded to job creation and community development projects consistent with each region’s strategic plans, projecting to create and retain more than 220,000 jobs. For more information on the Regional Councils, visit www.regionalcouncils.ny.gov.
Contact:
Adam Ostrowski (ESD) | [email protected] | (518) 292-5148 | (800) 260-7313
ESD Press Office | [email protected] | (800) 260-7313
Press Release
Tuesday, October 2, 2018 - 12:39pm
The North Country Regional Economic Development Council (NCREDC) today announced it recently submitted its 2018 Progress Report – entitled Nc 8 – to New York State to meet the October 1 deadline. The progress report details the council’s achievements in implementing its strategic plan and reflects the North Country's progress on efforts to ensure sustainable and long-term growth in the seven-county region and to leverage the region’s advantages in key industry sectors, including tourism, manufacturing and clean energy.
In furtherance of these goals, strategies and initiatives, the report recommends 17 priority projects to advance the region’s growth objectives. These projects represent a total proposed state investment of at least $20 million, leveraging more than $153.8 million in private and other funding for total project expenses of more than $173.8 million. Collectively, these priority projects would support the creation of 212 new jobs, 762 indirect jobs, the retention of 1,118 existing jobs, and leverage a return on investment of 8.7 to 1.
Detailed information about the NCREDC’s 2018 endorsed priority projects is available in the progress report at http://www.regionalcouncils.ny.gov/north-country.
Garry Douglas, President of the North Country Chamber of Commerce and NCREDC co-chair, said, "We are able to report continued strong progress in the implementation of our projects and strategies, and we once again have strong projects from throughout the region. Each year has built upon prior accomplishments and this year we look to take our success to yet another level. We thank Governor Cuomo and our state legislators for the trust they have placed in us and we promise the best is still to come!"
Anthony G. Collins, President of Clarkson University and NCREDC co-chair, said, "The North Country REDC Progress Report and the projects highlighted reflect the broad public participation and private-public partnerships we have developed across the seven-county region under the Governor’s approach to economic development. Together we are creating the road map for the economic renaissance of small cities and rural communities."
Round VIII of the REDC initiative will award more than $750 million in state funding and tax incentives, including up to $150 million in capital grants and up to $75 million in Excelsior Tax Credits for projects and activities identified by the Councils as regional priorities in their communities. Additionally, over $525 million from state agency programs will be awarded through the CFA process. Funding awards will be announced by the end of the year.
The REDC process has transformed New York State government’s approach economic development, creating a statewide framework for bottom-up, regional economic growth and streamlining the state funding application process. Since 2011, the first year of the initiative, over $5.4 billion has been awarded to more than 6,300 projects that are projected to create and retain more than 220,000 jobs statewide.
2018 REDC Competition
In 2018, all 10 REDCs will be competing for a designation as a Top Performer. Five Top Performers will be selected and will receive up to $20 million in Empire State Development Capital Grant funding, with the remaining five regions receiving up to $10 million in Empire State Development Capital Grant funding. Each region will also receive $10 million to implement projects identified through the Downtown Revitalization Initiative, and projects from all 10 regions submitted through the CFA will be eligible for over $525 million in other state agency funds.
About the Consolidated Funding Application
As part of Governor Cuomo’s efforts to improve the state’s economic development model, a NYS Consolidated Funding Application (CFA) 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. To access the CFA, please visit https://apps.cio.ny.gov/apps/cfa/.
About the Regional Economic Development Councils
The Regional Economic Development Council (REDC) initiative is a key component of Governor Cuomo's approach to State investment and economic development. In 2011, Governor Cuomo established 10 Regional Councils 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. After seven rounds of the REDC process, over $5.4 billion has been awarded to job creation and community development projects consistent with each region’s strategic plans, projecting to create and retain more than 220,000 jobs. For more information on the Regional Councils, visit www.regionalcouncils.ny.gov.
Contact:
Adam Ostrowski (ESD) | [email protected] | (518) 292-5148 | (800) 260-7313
ESD Press Office | [email protected] | (800) 260-7313
Press Release
Tuesday, October 2, 2018 - 12:36pm
The Mohawk Valley Regional Economic Development Council (MVREDC) today announced it recently submitted its 2018 Progress Report – entitled HOME – to New York State to meet the October 1 deadline. The progress report details the council’s achievements in implementing its strategic plan and reflects the Mohawk Valley's progress on efforts to ensure sustainable and long-term growth in the six-county region and to leverage the region’s advantages in key industry sectors, including advanced manufacturing, tourism and life sciences.
In furtherance of these goals, strategies and initiatives, the report recommends 23 priority projects to advance the region’s growth objectives. These projects represent a total proposed state investment of $20 million, leveraging $191.8 million in private and other funding for total project expenses of more than $211.8 million. Collectively, these priority projects would support the creation of 308 new jobs, 593 indirect jobs, the retention of 967existing jobs, and leverage a return on investment of 11 to 1.
Detailed information about the MVREDC’s 2018 endorsed priority projects is available in the progress report at https://www.regionalcouncils.ny.gov/mohawk-valley.
MVREDC Co-chairs Dr. Dustin Swanger, President of Fulton-Montgomery Community College, and Lawrence T. Gilroy III, President of Gilroy, Kiernan & Gilroy, Inc. said, "This year’s progress report is a testament to the collective efforts of Governor Cuomo, New York State, and the Regional Council to create jobs and support sustainable economic growth across the region. Our place-based investments are attracting young, talented entrepreneurs and supporting our cluster industries, helping to create a region where people want to live, work and play."
Round VIII of the REDC initiative will award more than $750 million in state funding and tax incentives, including up to $150 million in capital grants and up to $75 million in Excelsior Tax Credits for projects and activities identified by the Councils as regional priorities in their communities. Additionally, over $525 million from state agency programs will be awarded through the CFA process. Funding awards will be announced by the end of the year.
The REDC process has transformed New York State government’s approach economic development, creating a statewide framework for bottom-up, regional economic growth and streamlining the state funding application process. Since 2011, the first year of the initiative, over $5.4 billion has been awarded to more than 6,300 projects that are projected to create and retain more than 220,000 jobs statewide.
2018 REDC Competition
In 2018, all 10 REDCs will be competing for a designation as a Top Performer. Five Top Performers will be selected and will receive up to $20 million in Empire State Development Capital Grant funding, with the remaining five regions receiving up to $10 million in Empire State Development Capital Grant funding. Each region will also receive $10 million to implement projects identified through the Downtown Revitalization Initiative, and projects from all 10 regions submitted through the CFA will be eligible for over $525 million in other state agency funds.
About the Consolidated Funding Application
As part of Governor Cuomo’s efforts to improve the state’s economic development model, a NYS Consolidated Funding Application (CFA) 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. To access the CFA, please visit https://apps.cio.ny.gov/apps/cfa/.
About the Regional Economic Development Councils
The Regional Economic Development Council (REDC) initiative is a key component of Governor Cuomo's approach to State investment and economic development. In 2011, Governor Cuomo established 10 Regional Councils 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. After seven rounds of the REDC process, over $5.4 billion has been awarded to job creation and community development projects consistent with each region’s strategic plans, projecting to create and retain more than 220,000 jobs. For more information on the Regional Councils, visit www.regionalcouncils.ny.gov.
Contact:
Jason Conwall (ESD) | [email protected] | (518) 292-5107
ESD Press Office | [email protected] | (800) 260-7313
Press Release
Tuesday, October 2, 2018 - 12:33pm
The Finger Lakes Regional Economic Development Council (FLREDC) today announced it has submitted its 2018 Progress Report to the State to meet the October 1 deadline. The report details the Council’s achievements in implementing its five-year, Finger Lakes Forward strategic plan and reflects progress on efforts to ensure sustainable and long-term growth in the nine-county region and to leverage the region’s advantages in key industry sectors, including optics, photonics and imaging, advanced and next generation manufacturing and agriculture and food production.
In furtherance of these goals, strategies and initiatives, the report recommends 23 priority projects to advance the region’s growth objectives. These projects, from Genesee, Livingston, Monroe, Ontario, Seneca, Wayne, and Yates counties, represent a total proposed state investment of at least $20 million, leveraging $151 million in private and other funding for total project expenses of more than $171 million with a return on investment of 9 to 1.
Detailed information about the FLREDC’s 2018 endorsed priority projects is available in the progress report at www.regionalcouncils.ny.gov.
The report also outlines the region’s strong performance record in implementing its strategies and projects since the first round of Governor Andrew M. Cuomo’s Regional Economic Development Council initiative in 2011. 732 projects in the Finger Lakes region have received awards through the Consolidated Funding Application (CFA) process over the last seven years. These projects represent $ 2.4 billion in total investment, leveraging $300 million in state support by a ratio of more than 8 to 1.
Finger Lakes Regional Economic Development Council Co-Chairs Monroe Community College President Anne Kress and Greater Rochester Chamber of Commerce President Bob Duffy said, “The state support we have received over the last seven years has truly facilitated our region’s transformation and has accelerated our momentum in moving the Finger Lakes forward. The enthusiasm and commitment of all council members is certainly evident in the 2018 annual report. We remain united for success, and our results show that we are realizing our shared vision to extend economic opportunities to all of the region’s residents.”
Round VIII of the REDC initiative will award more than $750 million in state funding and tax incentives, including up to $150 million in capital grants and up to $75 million in Excelsior Tax Credits for projects and activities identified by the Councils as regional priorities in their communities. Additionally, over $525 million from state agency programs will be awarded through the CFA process. Funding awards will be announced by the end of the year.
By incentivizing the implementation of the strategic plans, the REDCs – composed of leaders from business, educational institutions, local governments, not-for-profit groups and other stakeholders – are further motivated to work together to accomplish the regional vision. The competition emphasizes performance and action to implement strategies, which encourages cooperation among the REDCs and representatives of the community that is critical to achieving successful economic development.
The REDC process has transformed New York State government’s approach economic development, creating a statewide framework for bottom-up, regional economic growth and streamlining the state funding application process. Since 2011, the first year of the initiative, over $5.4 billion has been awarded to more than 6,300 projects that are projected to create and retain more than 220,000 jobs statewide.
2018 REDC Competition
In 2018, all 10 REDCs will be competing for a designation as a Top Performer. Five Top Performers will be selected and will receive up to $20 million in Empire State Development Capital Grant funding, with the remaining five regions receiving up to $10 million in Empire State Development Capital Grant funding. Each region will also receive $10 million to implement projects identified through the Downtown Revitalization Initiative, and projects from all 10 regions submitted through the CFA will be eligible for over $525 million in other state agency funds.
About the Consolidated Funding Application
As part of Governor Cuomo’s efforts to improve the state’s economic development model, a NYS Consolidated Funding Application (CFA) 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. To access the CFA, please visit https://apps.cio.ny.gov/apps/cfa/.
About the Regional Economic Development Councils
The Regional Economic Development Council (REDC) initiative is a key component of Governor Cuomo's approach to State investment and economic development. In 2011, Governor Cuomo established 10 Regional Councils 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. After seven rounds of the REDC process, over $5.4 billion has been awarded to job creation and community development projects consistent with each regions’ strategic plans, projecting to create and retain more than 220,000 jobs. For more information on the Regional Councils, visit www.regionalcouncils.ny.gov.
Accelerating Finger Lakes Forward
Today’s announcement complements “Finger Lakes Forward,” the region’s comprehensive blueprint to generate robust economic growth and community development. The State has already invested more than $6.1 billion in the region since 2012 to lay the groundwork for the plan – investing in key industries including photonics, agriculture and food production, and advanced manufacturing. Today, unemployment is down to the lowest levels since before the Great Recession; personal and corporate income taxes are down; and businesses are choosing places like Rochester, Batavia and Canandaigua as a destination to grow and invest in.
Now, the region is accelerating Finger Lakes Forward with a $500 million State investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015. The State’s $500 million investment will incentivize private business to invest well over $2.5 billion – and the region’s plan, as submitted, projects up to 8,200 new jobs. More information is available here.
Contact:
Shari Voorhees-Vincent | [email protected] | (585) 399-7055
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