Government and Politics
November 24, 2022From: New York Governor Kathy Hochul
Governor Hochul Announces More Than $68 Million Awarded in Round XII of the Regional Economic Development Council Initiative
Governor Kathy Hochul today announced that more than $68 million has been awarded to support 74 projects across New York State through the Regional Economic Development Council initiative. Round XII included core capital grant and tax-credit funding from Empire State Development, which was made available on a continuous and competitive basis to support the immediate needs of communities. Funding will support impactful projects that align with each region's strategic goals. The application for Empire State Development 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.
"Through the Regional Economic Development Councils, we continue to make strategic investments across New York that align with each community's top priorities," Governor Hochul said. "I'm proud to announce this next round of awards that were recommended by stakeholders who live and work in the regions they represent. This investment will help bring more opportunity for New Yorkers, spur economic development, and fuel the future success of communities across our state."
"New York State continues to invest in projects that will generate new investments and spark economic growth to further support our post-pandemic recovery," said Lieutenant Governor Antonio Delgado, Chair of the Regional Economic Development Councils. "Our bottom-up approach to economic development — one that is inclusive, collaborative, and regionally-focused — is working, and I've seen the results first-hand in communities across the state. This latest group of awards will further those efforts by supporting shovel-ready projects that will grow our state and regional economies more quickly."
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