ESD announces schedule for REDC's presentations to Strategic Implementation Assessment Team

This post was originally published here.
All 10 regions will present 2018 proposals, provide progress updates to NYS review team; presentations will be streamed live online at www.regionalcouncils.ny.gov

Empire State Development has announced the schedule for this year’s Regional Economic Development Council presentations to the Strategic Implementation Assessment Team, which is led by Secretary of State Rossana Rosado and composed of state officials.

ESD President, CEO and Commissioner Howard Zemsky said, “The SIAT presentations give regions an opportunity to make their best pitches for support of their strategies and the priority projects in their communities that reflect a shared commitment to shaping a thriving and sustainable New York state economy.”

The schedule follows:

Tuesday, Oct. 23

Location: Mohawk Valley Community College, Rome Campus, 1101 Floyd Ave, Rome

Regions Presenting:

  • 9 a.m. – Mohawk Valley
  • 10:30 a.m. – North Country
  • 1 p.m. – Capital Region
  • 2:30 p.m. – Central New York

Friday, Oct. 26

Location: NYPA Building, Jaguar Room, 123 Main St., White Plains

Regions Presenting:

  • 9 a.m. – Mid-Hudson
  • 10:30 a.m. – Long Island
  • 1 p.m. – New York City

Friday, Nov. 2

Location: Monroe Community College, Brighton Campus, 1000 E. Henrietta Road, Rochester

Regions Presenting:

  • 9 a.m. – Finger Lakes
  • 10:30 a.m. – Western New York
  • 1 p.m. – Southern Tier

Representatives from each region will provide an in-person presentation to the SIAT, including updates on their strategic plan goals, progress achieved on priorities and projects funded in previous rounds, and outlines of their round VI strategies. The presentations will be followed by questions from the review team.

The SIAT team includes Rosado, secretary of state, NYS Department of State; RoAnn Destito, commissioner, New York State Office of General Services; Matt Driscoll, acting executive director, New York State Thruway Authority; Roberta Reardon, commissioner, Department of Labor; Sabrina Ty, president and CEO, New York State Environmental Facilities Corp.; RuthAnne Visnauskas, commissioner, New York State Homes and Community Renewal; Richard Ball, commissioner, New York State Department of Agriculture and Markets; and Brian Stratton, director, New York State Canal Corp.

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.

Organizers said 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 ESD 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 more than $525 million in other state agency funds.

About Consolidated Funding Application

As part of Gov. Andrew Cuomo’s efforts to improve the state’s economic development model, a state consolidated funding application was created to streamline and expedite the grant application process. The CFA process is described as marking “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.”

About Regional Economic Development Councils

The Regional Economic Development Council (REDC) initiative is a key component of Cuomo’s approach to state investment and economic development. In 2011, he 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. For more information on the Regional Councils, visit www.regionalcouncils.ny.gov.