The Central New York Regional Economic Development Council (CNY REDC) is seeking qualified projects to benefit from this year’s funding opportunity through the state’s Regional Council process. Gov. Andrew Cuomo has directed more than $750 million in state resources be distributed in Round IX of the REDC awards. This includes up to $150 million in capital grants and $75 million in Excelsior Tax Credits for economic development projects statewide identified as regional priorities. Additionally, more than $525 million from state agency programs will be awarded through the Consolidated Funding Application (CFA) process.
In this round, the CNY REDC will also develop strategies that: support community investment in placemaking and downtown revitalization; advance the state’s Workforce Development Initiative; identify and develop childcare solutions in collaboration with local businesses and communities; and develop an economic and environmental justice strategy for the region.
Businesses considering an expansion project should review the application and funding opportunities. The 2019 CFA Resource Guide outlines each funding program, the total funding available, and eligibility requirements. Applications must be submitted no later than 4 p.m. on July 26th.
The next Regional Council meeting is Thursday, July 11, at 3:30 p.m. at The Point at Sand Beach, 2924 Sand Beach Road, in Auburn. The public is welcome to attend to learn more about the application process and ask questions about project eligibility. RSVP for the meeting on CNYREDC’s website: https://regionalcouncils.ny.gov/central-new-york/events/cny-redc-july-meeting-jul-11-2019. Businesses may also contact CEDA for free and confidential assistance with their CFA.
