State Awards $709M in Eco. Development Funding

ALBANY, NY—Gov. Andrew Cuomo announced late last week $709.2 million in economic development funding awards dolled out to nine of the state's regional economic development councils.

The big winners in this year's consolidated funding application competition were “top performers” the Mid-Hudson region with $82.8 million in funding supporting 118 projects; Long Island, $81.9 million supporting 97 projects; Central New York, $80.2 million supporting 85 projects; Southern Tier, $80.8 million supporting 91 projects and the Finger Lakes region with $80.7 million supporting 100 projects.

Awards for the other regional council were: New York City, $61.2 million supporting 71 projects; Capital Region, $60 million supporting 93 projects; North Country, $63.4 million supporting 69 projects the and Mohawk Valley region, $59.6 million supporting 59 projects.

“Four years ago we decided to take a different approach on economic development – emphasizing cooperation and investing in local assets instead of continuing the state's old and ineffective top-down mentality,” Gov. Cuomo said. “That's what the regional councils are all about, and today is proof that they are continuing to drive an economic renaissance in every region of the state. Each council presented bold ideas for how to create jobs and new opportunities in their communities, and I am proud to work with all of them to continue moving New York forward.”

Among some of the projects to be financed by this year's CFA awards include $3.1 million to the Merlin Entertainments Group for a LEGOLAND theme park in Haverstraw in Rockland County. The resort would include a theme park initially, followed by a water park and hotel. Also in the Mid-Hudson Region the state has awarded $2.5 million to special needs non-profit Jawonio Inc., which is embarking upon a major enhancement, consolidation, and expansion of its 16.8-acre main campus in New City, also in Rockland County. This four-year, $24-million project will include the construction of 97,000 square feet of state-of-the-art space that will also feature a significant investment in IT infrastructure.

On Long Island, the state has approved $4.7 million for the Wyandanch Rising Station Drive project that will include the construction of a three-story, approximately 95,000 square-foot commercial building to be located immediately adjacent to the Long Island Rail Road Wyandanch Station building. The state has also awarded $2.5 million to Adelphi University for the $15-million Nursing Innovation Lab and Training Center.

The first three rounds of the Regional Council process awarded more than $2 billion to more than 2,200 job creation and community development projects across the state, supporting the creation or retention of more than 130,000 jobs, state officials say.