Awards have been announced in the ninth round of New York state Regional Economic Development Council funding.
"Economies exist in regions and is up to that region to come up with a formulas and a plan that works for that region," said Governor Andrew Cuomo.
The Regional Economic Development Council system is Governor Andrew Cuomo's initiative to increase state investment and economic development.
Thursday afternoon at the Capital Center in Albany, Lt. Governor Kathy Hochul said the councils are public-private partnerships comprised of local experts and stakeholders from business, academia, government, and non-governmental organizations. "I want to thank each and every one of you. Thanks for the extraordinary plans that you've implemented that have brought us here today. From the Capital Region to Western New York, the North Country all the way down to Long Island. You have made us stronger, and you have made us the envy of the nation. And for that, we say thank you."
More than $750 million in economic and community development funding was awarded to 10 competing regions. The Capital Region received $84.1 million. Democratic state Assemblywomen Pat Fahy of Albany welcomed the news: "We're never quite sure because we have such a strong economy, the Capital Region, thanks to lots of work, lots of investments and lots of creativity right here in the Capital Region. We have the strongest upstate economies. So I had expectations we wouldn't be a top performer, and just thrilled that we are and lots of good things to come."
Albany is one of 5 "top performer" regions:
- New York's Southern Tier received $88.9 million
- Central New York received $86.2 million
- The Mohawk Valley $82.7 million
- Long Island $87.9 million
Empire State Development Chairman Howard Zemsky lauded the awards initiative: "More has gotten done, honestly and you know exactly what they mean, in this state in the last 10 years than in, you know, half a century prior. It has been a remarkable accomplishment."
The other awardees: the North Country $67.9 million, Western New York, $67.3 million; New York City $66.3 million, The MidHudson Region $65.8 million and Finger Lakes $64.4 million.