New York Lieutenant Governor Kathy Hochul today announced the ninth round of Regional Economic Development Council (REDC) initiative awards for each of the 10 economic development regions in the state.
The Southern Tier, an eight-county region including Tompkins County, was one of five top performers, receiving $88.9 million to support economic development projects.
Tompkins County was awarded approximately $13.8 million for 31 projects.
Projects awarded funding in Tompkins County include:
- Transonic Systems – global competitiveness/automated manufacturing ($220,000)
- YMCA of Ithaca – renovation to support increased childcare and community space ($1,184,000)
- Coddington Road Community Center – childcare and afterschool care expansion and modernization ($700,000)
- Enclose Cass Park Rink – ($523,269)
- Downtown Ithaca Community Conference Center – ($5,000,000)
The REDC initiative, established in 2011, is part of Governor Andrew Cuomo’s strategy for economic development that is community-based and performance-driven with a goal of jumpstarting the economy and creating jobs. The initiative empowers communities, business and academic leaders, as well as members of the public in each region of the state, to develop strategic plans specifically tailored to their region’s unique strengths and resources to create jobs, improve quality of life and grow the economy.
President of Tompkins County Area Development (TCAD), Heather McDaniel, is a member of the Southern Tier REDC and the REDC Executive Committee, representing Tompkins County. She participated in the review of applications and ranking of projects.
“We’re thrilled that these crucial Tompkins County projects – including the YMCA and the Downtown Conference Center, among others – have been awarded this state funding,” McDaniel noted. “This will allow these projects and improvements to proceed, furthering the region’s ongoing growth.”
In the past eight years the Southern Tier Region has received $351 million in public support through the REDC initiative for 674 projects. This has led to $1.5 billion in private investment and has aided in the creation and retention of 25,000 jobs.
TCAD routinely provides technical assistance to local companies and organizations applying to the state for REDC initiative funding.