ESD Announces Schedule for REDC's Presentations to Strategic Implementation Assessment Team

This post was originally published here.

Empire State Development today 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.

Empire State Development President, CEO & 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:

  • TODAY, Tuesday, October 23

Location:       Mohawk Valley Community College, Rome Campus

1101 Floyd Ave

Rome, NY 13440

Regions Presenting:

o    9 a.m. – Mohawk Valley

o    10:30 a.m. – North Country

o    1 p.m. – Capital Region

o    2:30 p.m. – Central NY

  • Friday, October 26

Location:       NYPA Building, Jaguar Room

123 Main Street

White Plains, NY 10601

Regions Presenting:

o    9 a.m. – Mid-Hudson

o    10:30 a.m. – Long Island

o    1 p.m. – New York City

  • Friday, November 2

Location:       Monroe Community College, Brighton Campus

1000 East Henrietta Road

Rochester, NY 14623

            Regions Presenting:

o    9 a.m. – Finger Lakes

o    10:30 a.m. – Western NY

o    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 Rossana Rosado, Secretary of State, NYS Department of State (DOS); RoAnn Destito, Commissioner, New York State Office of General Services (OGS); Matt Driscoll, Acting Executive Director, NYS Thruway Authority; Roberta Reardon, Commissioner, Department of Labor (DOL); Sabrina Ty, President and CEO, New York State Environmental Facilities Corporation (EFC); RuthAnne Visnauskas, Commissioner, NYS Homes and Community Renewal; Richard Ball, Commissioner, NYS Department of Agriculture and Markets; and Brian Stratton, Director, NYS Canal Corporation.

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.