Governor Andrew M. Cuomo launched Round IX of the Regional Economic Development Council initiative, officially kicking off the 2019 competition for more than $750 million in state economic development resources.
The Consolidated Funding Application will open to applicants on May 1, enabling businesses, municipalities, not-for-profits, and the public to begin applying for assistance from dozens of state programs, through a single application, for job creation and community development projects.
Round IX includes core capital and tax-credit funding that will be combined with a wide range of existing agency programs totaling approximately $750 million.
The core funding includes $225 million in grants and tax credits to fund high-value regional priority projects.
The Budget also makes over $525 million in resources from State agencies available to support community revitalization and business growth consistent with the existing REDC plans through the CFA process.
Regional Council priorities in 2019 include:
- Supporting community investment in placemaking and downtown revitalization;
- Supporting the Workforce Development Initiative;
- Working with local businesses and communities to identify childcare needs and develop potential solutions;
- Developing an economic and environmental justice strategy for the region; and
- Tracking the progress of the strategic economic development plan and projects funded through the Consolidated Funding Application (CFA).
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