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New York's Regional Economic Development Council regions. Image: http://regionalcouncils.ny.gov/
New York's Regional Economic Development Council regions. Image: http://regionalcouncils.ny.gov/

Round three for regional development councils

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The Regional Economic Development Councils have been a cornerstone of Governor Cuomo's plan to revitalize the state's economy.

In his state budget address, Cuomo confirmed a third round of state funding for them, totaling $220 million.

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Reported by

Kate O'Connell
Reporter, The Innovation Trail

The third round of funding will be split into two parts, $150 million for core funding of projects in the ten economic regions, with an additional $70 million available as tax credits.

Executive director of business coalition Unshackle Upstate Brian Sampson says Cuomo's commitment to continued funding for the regional councils is a positive outcome for upstate New York.

"What the regional councils have done is really brought together the communities in those 10 regions, that's a very positive step. I think overall the regional councils have been good from the standpoint of someone taking the politics out of grants and incentives to grow businesses and create jobs."

Cuomo's budget remarks touched on his familiar preference for economic regionalism and local solutions rather than centralized planning.

Cumulatively, the ten regional councils have been the conduits for over $1.5 billion in state funding since their inception in 2011.

 

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