NY Leaders Award $200M for Regional Job Creation Strategies

On Thursday, New York Governor Andrew Cuomo's administration announced the winners of a six-month competition to secure funding for regional job creation projects. Over the summer, ten regional economic councils were created by executive order to develop plans that would improve local economies using grants, tax breaks and other state resources. The councils then pitched their plan to state government leaders (presentations and applications are available online). The four winning councils will receive $40 million each to support their plans, with the other six councils splitting the remaining $40 million. An additional $800 million in tax incentives and existing grants will also be available to support strategies in all ten regions. Best plan awardees include:

• Western New York, which secured a total package of $100.3 million (including both the $40 million for implementation and additional support from the $800 million), to support the Roswell Park Cancer Institute Genome Project, develop a new Center of Innovation in Medicine, build an Urban Automotive Center of Excellence in Buffalo and other projects;
• Central New York, with a total package of $103.7 million, to expand the Bio Tech Park at Kennedy Square, complete the Central New York Biotechnology Research Center, create the New York Energy Regional Innovation Cluster at the Syracuse Center of Excellence, commercialize air surveillance technologies at the C-Speed Advanced Technology Manufacturing Center and other projects;
• North Country, with a total package of $103.2 million, to rehabilitate the newton Falls Rail Project, expand the C-Speed Advanced Technology Manufacturing Center in Pottsdam, modernize medical facilities at the Trudeau Institute's Saranac Lake research campus, provide broadband services in underserved communities and other projects; and,
• Long Island, with a total package of $101.6 million, to support the Smarter Electric Grid 3 project at Stony Brook University and Brookhaven National Laboratory, enhance construction of a new cancer drug testing facility, create and retain a high-tech workforce through a new STEM Hub, support Hofstra University and Stony Brook University's EngINE project and other projects.

Read more here: http://www.governor.ny.gov/news/governor-cuomo-announces-785-million-eco...