Governor Cuomo Launches Seventh Round of Regional Economic Development Council Competition

Governor Andrew M. Cuomo launched Round VII of the Regional Economic Development Council initiative on April 25th, officially kicking off the annual competition for more than $800 million in state economic development resources. The Consolidated Funding Application will open to applicants on Monday, May 1, 2017, enabling businesses, municipalities, not-for-profits and members of the public to begin applying, through a single application, for assistance from dozens of state programs for projects that create jobs and help to revitalize communities.

The full press release can be found here.

The Regional Economic Development Council process has transformed New York State government’s approach to economic development, creating a statewide framework for bottom-up economic growth and streamlining the application process for state funding. Since 2011, the first year of the initiative, over $4.6 billion has been awarded to more than 5,200 projects that are projected to create and retain more than 210,000 jobs statewide. Through six rounds of the REDC competition the Southern Tier has received $480.6 million for 605 projects.

Round VII of the REDC initiative will award more than $800 million in state resources across all 10 regions, including up to $225 million in performance-based grants and tax credits from Empire State Development, and approximately $575 million from two dozen state agency programs.

The 2017 REDC Guidebook and list of available resources can be found here. The CFA will open to applicants on Monday, May 1, and the deadline for applications is Friday, July 28, 2017 at 4 p.m. Applications submitted after the deadline will not be accepted. For applicants, the CFA is available here.

Information about workshops being held to present the funding opportunities in the CFA is available here.

TCAD can provide assistance in helping determine if your project is eligible and provide application guidance. Contact our office at 607-273-0005 or info@tcad.org.