New York state and local leaders gathered in Albany Wednesday for the latest announcement of regional economic development awards.
“New York is more business friendly than ever before, period,” said Governor Andrew Cuomo.
Governor Andrew Cuomo joined his lieutenant governor and local leaders to divvy up more than $755 million among 10 regional councils during the seventh annual Regional Economic Development Council award ceremony. Typically held at The Egg in Albany, this year’s awards were handed out at the recently completed Capital Center, just a walkway away. Howard Zemsky, the state’s top economic development official, noted the significance of the $78.5 million convention center, which opened in March.
“To help drive business throughout this region for years to come,” Zemsky said. “I’m talking about over $26 million of annual economic impact and over 100,000 visitors a year.”
In this year’s awards, the Capital Region received $85 million for its council’s pitch to support 110 projects, detailed in a video.
“Velan Ventures sees the potential to create an industry cluster around video games and game-related technologies and wants to make Troy the top destination on the East Coast for game development,” the video detailed. “In Hudson, the council’s investment in the creativity economy is boosting tourism and making the city a cultural destination.”
Earlier this year, Hudson won a $10 million state downtown revitalization award.
Elsewhere, the Mohawk Valley is in line for $85.5 million to support 101 initiatives.
“Griffis International Airport, as a destination for unmanned aerial systems testing, and today its FAA test range is known throughout North America as one of the most advanced test sites in the nation,” the video pointed out. “But, it’s not just technology that’s driving the region; it’s the development of its downtowns. Aside from Oneonta and Rome, cities across the Mohawk Valley are setting out to produce thriving downtowns that go beyond quaint and affordable. An expansion at The Aud, or Utica Memorial Auditorium, played a key role in the American Hockey League’s decision to host the 2018 All-Star Game there.”
The Mid-Hudson Valley council will be receiving $84.8 million for 113 projects.
“LEGOLAND New York is set to break ground in early 2018 and open in the spring of 2020,” the video detailed. “The $350 million project is expected to create 1,300 positions, not counting construction jobs.”
The North Country was awarded $64.9 million for 81 projects.
“Educational opportunities have drawn students to the region for generations, but now the Institute for Advanced Manufacturing at Clinton Community College has made the North Country an enticing destination for hands-on high-tech training,” claimed the video.
Central New York was the top recipient, garnering $86.4 million. Cuomo, a Democrat, spent much of his speech decrying the Republican tax proposal heading to the finish line in Congress. The plan would eliminate the deduction for state and local taxes for 12 states, including New York. A compromise proposal would cap the amount that is deductible at $10,000.
“It would be an obstacle if our taxes are 20 percent higher than every other state; that’s why we have to fight it,” said Cuomo.
A full list of the regional economic development awards can be found here.
