Thursday, December 12, 2013
 

 

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Third round of regional economic development grants announced

ALBANY – Almost $716 million has been awarded through Round Three of the Regional Economic Development Council initiative.

A centerpiece of Governor Andrew Cuomo’s strategy to jumpstart the economy and create jobs, the Regional Councils were put in place in 2011 to redesign the state's approach to economic development from a top-down model to a community-based, performance-driven approach. The initiative empowers community, business, and academic leaders, as well as members of the public in each region of the state, to develop strategic plans specifically tailored to their region's unique strengths and resources in order to create jobs and support economic growth.

“In the last three years, we have put New York’s fiscal house in order by controlling spending and cutting taxes and the global business community has taken notice,” Governor Cuomo said. “We are transforming New York State into a top destination for companies from around the world to locate, invest and grow with initiatives like START-UP NY to provide tax-free areas and support to businesses. These efforts have allowed the Regional Councils for the last three years to pursue economic development projects on the ground all across the state, from creating new technologies and supporting innovation to building hospitals and tourism destinations that will further our economic growth. The Regional Councils were empowered to change the face of economic development in their communities and they have accomplished just that. This third round of awards continues the State’s commitment to these creative and groundbreaking plans and recognizes the immense progress that has already been made in revitalizing our economy and putting New Yorkers back to work.”

As part of the Round III process, a Strategic Implementation Assessment Team composed of state agency commissioners traveled to every region of the state to view progress on projects that have received state funding, assess the regions’ strategic plan implementation, and review priority projects endorsed by the regions in their 2013 applications.