North Country Regional Economic Development Council Submits 2018 Progress Report

Council Endorses 17 Priority Projects for Round VIII of Governor Cuomo’s Regional Economic Development Council Initiative

October 2, 2018

The North Country Regional Economic Development Council (NCREDC) today announced it recently submitted its 2018 Progress Report – entitled Nc 8 – to New York State to meet the October 1 deadline. The progress report details the council’s achievements in implementing its strategic plan and reflects the North Country's progress on efforts to ensure sustainable and long-term growth in the seven-county region and to leverage the region’s advantages in key industry sectors, including tourism, manufacturing and clean energy.

In furtherance of these goals, strategies and initiatives, the report recommends 17 priority projects to advance the region’s growth objectives. These projects represent a total proposed state investment of at least $20 million, leveraging more than $153.8 million in private and other funding for total project expenses of more than $173.8 million. Collectively, these priority projects would support the creation of 212 new jobs, 762 indirect jobs, the retention of 1,118 existing jobs, and leverage a return on investment of 8.7 to 1.

Detailed information about the NCREDC’s 2018 endorsed priority projects is available in the progress report at http://www.regionalcouncils.ny.gov/north-country.

Garry Douglas, President of the North Country Chamber of Commerce and NCREDC co-chair, said, "We are able to report continued strong progress in the implementation of our projects and strategies, and we once again have strong projects from throughout the region. Each year has built upon prior accomplishments and this year we look to take our success to yet another level. We thank Governor Cuomo and our state legislators for the trust they have placed in us and we promise the best is still to come!"

Anthony G. Collins, President of Clarkson University and NCREDC co-chair, said, "The North Country REDC Progress Report and the projects highlighted reflect the broad public participation and private-public partnerships we have developed across the seven-county region under the Governor’s approach to economic development. Together we are creating the road map for the economic renaissance of small cities and rural communities."

Round VIII of the REDC initiative will award more than $750 million in state funding and tax incentives, including up to $150 million in capital grants and up to $75 million in Excelsior Tax Credits for projects and activities identified by the Councils as regional priorities in their communities. Additionally, over $525 million from state agency programs will be awarded through the CFA process.  Funding awards will be announced by the end of the year.

The REDC process has transformed New York State government’s approach economic development, creating a statewide framework for bottom-up, regional economic growth and streamlining the state funding application process. Since 2011, the first year of the initiative, over $5.4 billion has been awarded to more than 6,300 projects that are projected to create and retain more than 220,000 jobs statewide.

2018 REDC Competition
In 2018, all 10 REDCs will be competing for a designation as a Top Performer. Five Top Performers will be selected and will receive up to $20 million in Empire State Development Capital Grant funding, with the remaining five regions receiving up to $10 million in Empire State Development Capital Grant funding.  Each region will also receive $10 million to implement projects identified through the Downtown Revitalization Initiative, and projects from all 10 regions submitted through the CFA will be eligible for over $525 million in other state agency funds.

About the Consolidated Funding Application
As part of Governor Cuomo’s efforts to improve the state’s economic development model, a NYS Consolidated Funding Application (CFA) was created to streamline and expedite the grant application process. The CFA process marks a fundamental shift in the way state resources are allocated, ensuring less bureaucracy and greater efficiency to fulfill local economic development needs. The CFA serves as the single entry point for access to economic development funding, ensuring applicants no longer have to slowly navigate multiple agencies and sources without any mechanism for coordination. Now, economic development projects use the CFA as a support mechanism to access multiple state funding sources through one application, making the process quicker, easier, and more productive. To access the CFA, please visit https://apps.cio.ny.gov/apps/cfa/.

About the Regional Economic Development Councils
The Regional Economic Development Council (REDC) initiative is a key component of Governor Cuomo's approach to State investment and economic development. In 2011, Governor Cuomo established 10 Regional Councils to develop long-term strategic plans for economic growth for their regions. The Councils are public-private partnerships made up of local experts and stakeholders from business, academia, local government, and non-governmental organizations. The Regional Councils have redefined the way New York invests in jobs and economic growth by putting in place a community-based, bottom up approach and establishing a competitive process for State resources.  After seven rounds of the REDC process, over $5.4 billion has been awarded to job creation and community development projects consistent with each region’s strategic plans, projecting to create and retain more than 220,000 jobs. For more information on the Regional Councils, visit www.regionalcouncils.ny.gov.

 

 

Contact:
Adam Ostrowski (ESD) | adam.ostrowski@esd.ny.gov | (518) 292-5148 | (800) 260-7313
ESD Press Office | PressOffice@esd.ny.gov | (800) 260-7313