Governor Hochul Announces More Than $27 Million Awarded Through Round XII of the Regional Economic Development Council Initiative

Fourth Batch of Approved Awards Include 40 Shovel-Ready Projects

Full List of Round XII Awardees Can Be Found Here

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Governor Kathy Hochul today announced that more than $27 million has been awarded to support 40 projects across New York State through the Regional Economic Development Council Initiative. Round XII included core capital grant and tax credit funding from Empire State Development, which was made available on a continuous and competitive basis to support the immediate needs of communities. Funding will support impactful projects that align with each region’s strategic goals.

“We continue to make investments lifting up our communities across New York State, and these 40 shovel-ready projects are crucial to boosting economic growth and driving private investment,” Governor Hochul said. “Together, our Regional Economic Development Councils are helping communities meet pressing needs through strategic investments creating good-paying jobs and expanding opportunities for New Yorkers.”

Lieutenant Governor Antonio Delgado, Chair of the Regional Economic Development Councils said, “We are creating jobs, investing in local businesses, and ensuring that all regions of New York have strong local economies. We are continuing to invest in our communities to build a more equitable state for all New Yorkers.”

Empire State Development President, CEO and Commissioner Hope Knight said, “Supporting projects that make strategic sense for the local economy is key to the Regional Economic Development Councils’ success. These awards will move communities throughout the state in a forward direction, by investing in the growth of multiple industries, from offshore wind to innovative manufacturing, and giving New Yorkers the resources they need to grow.”

This fourth batch of projects was recommended by each Regional Council because of their project readiness and alignment with each region's strategic plan. Highlights include:

The REDC process continues to support and empower regional stakeholders in developing strategic plans and funding priorities that meet local economic needs. To date, through the REDC Initiative, more than $7.8 billion has been awarded to more than 9,600 job creation and economic and community development projects consistent with each region's strategic plan. The application for ESD grant funds remains open, and applications are being reviewed on an on-going basis as funds remain available. Applicants with strong, shovel-ready projects that align with the state and region’s economic development priorities can apply through the Consolidated Funding Application.

About the Consolidated Funding Application

The Consolidated Funding Application 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. Learn more about the CFA here.

About the Regional Economic Development Councils

The Regional Economic Development Council initiative is a key component of the State’s approach to State investment and economic development. In 2011, 10 Regional Councils were established 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. Learn more at regionalcouncils.ny.gov.