New York state has awarded over $81 million through its Regional Economic Development Council initiative to support 97 priority projects across the state.
This year, $150 million in grant funds from Empire State Development was made available on a continuous and competitive basis to support the immediate needs of applicants. Additionally, projects within each region are eligible for a share of $75 million in Excelsior Jobs Program Tax Credits to help attract and grow business in their region.
In Warren County, one project received funding.
“The pandemic toll touched every corner of the state and every sector of New York’s economy, and as a result we must ensure that our recovery does the same,” Gov. Kathy Hochul said. “As we move forward from the pandemic we are using the rolling grant process to build New York state back better by supporting shovel-ready projects with the potential to accelerate new investments and catalyze economic growth in every community.”
“Through a collaborative, bottom up, and regional approach to economic development, these projects were chosen for their innovation, impact on their communities and potential for positive change coming out of the pandemic,” said Lt, Gov. Brian Benjamin. “Whether it is workforce development, tourism, green investments or domestic manufacturing, we are moving forward to foster a strong and prosperous economy in New York state.”
In Warren County, the Lake Champlain/Lake George Regional Planning Board received $1.6 million for the town of Johnsburg to construct a new wastewater collection and treatment system in the downtown business district of North Creek. The lack of a public sewer system has inhibited business expansion and infill development for decades. This project will reinvigorate and remove barriers to downtown business activity, provide greater opportunity for industry diversification, and improve employment opportunities for low-income households.
The application for ESD Grant funds remains open, and applications are being reviewed on an on-going basis until funds are exhausted. Applicants with strong, shovel-ready projects that align with the state and region’s economic development priorities can apply through the Consolidated Funding Application.
Empire State Development Acting Commissioner and President and CEO-designate Hope Knight said, “The COVID pandemic has had a devastating impact on our state, and this is especially true for the businesses and organizations that are the foundation of our economy. The Regional Economic Development Councils, made up of people who know their own communities best, have recommended innovative projects that will help their regions rebuild, and reemerge stronger and smarter for the future.”
The initial round of priority projects was recommended by each Regional Council because of their project readiness and alignment with each region’s strategic plan.
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.
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. Learn more at regionalcouncils.ny.gov.