ALBANY – A major announcement regarding $1.5 billion in state economic development funding will be made Thursday morning in Albany.
New York Gov. Andrew Cuomo says the awards for the 2015 Consolidated Funding Application – which are part of the state’s Regional Economic Development Council and Upstate Revitalization Initiative awards programs – will be made at 10:30 a.m.
Under a plan created by state economic development leaders, a total of $1.5 billion will be among three out of the seven regions in the state competing for money.
In addition, about $750 million in grants will be announced to various projects across the state, through the annual awards that Cuomo started in 2011, including dozens of projects proposed by the Western New York Regional Economic Development Council (WNYREDC).
Several local projects have applied for funding from the program, including the National Comedy Center, the development of new resort hotel in Celoron, the expansion of the Jamestown Community College Manufacturering Technology Institute, and the expansion of the South County Industrial Park in the town of Ellicott.
The announcement event will be streamed live on www.governor.ny.gov .
WNYREDC PRIORITY PROJECTS IN CHAUTAUQUA COUNTY (Score 25 points each)
OTHER WNYREDC PRIORITY PROJECTS (SCORE OF 20)
– Implement Smarth Growth projects
– Foster a Culture of Entrepreneurship projects
– Prepare Our Workforce projects
– Tourism projects
REGIONALLY SIGNIFICANT PRIORITY PROJECTS (SCORE OF 15)
– Implement Smart Growth Projects
– Prepare our Workforce projects
– Tourism projects

NY Governor Andrew Cuomo
ALBANY – Governor Andrew Cuomo Thursday launched two major economic development programs – the Upstate Revitalization Initiative and Round V of the Regional Economic Development Councils – officially kicking off the 2015 competitions for economic development resources in various regions of upstate New York.
The Economic development “Hunger Games” as some Albany media members have called it, will result in a total of $1.5 billion from the Revitalization Initiative and up to $750 million in Round V of the Regional Economic Development awards.
This year, the 10 Regional Councils – including Western New York – will once again compete for awards from up to $750 million in state economic development resources through Round V of the REDC competition.
Additionally, through the new Upstate Revitalization Initiative (URI), seven regions – Finger Lakes, Southern Tier, Central New York, Mohawk Valley, North Country, Capital District, and Mid-Hudson – are eligible to compete for three $500 million awards, which will be disbursed at a rate of $100 million per year for five years. Western New York has been excluded from the list because of the awarding of the ‘Buffalo Billion’ economic development initiative in 2013.
The Consolidated Funding Application opens to applicants today with a deadline of July 31.
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Senator Catherine Young (R-Olean)
ALBANY – Communities across Senator Cathy Young’s 57th Senate District region will have access to economic development funding that was included in this year’s state budget.
According to a release from the Senator’s office, among the investments included in the final budget were $1.5 billion for the Upstate Revitalization Initiative, $400 million for transformative investment programs, $500 million to support the statewide expansion of broadband access, and $7 million for the Workforce Development Institute. According to Senator Young, much of that funding will make its way to the district –which includes both Chautauqua and Cattaraugus Counties.
The Upstate Revitalization Initiative will provide assistance for business growth, tourism, infrastructure, and other efforts to revitalize upstate communities.
The Transformative Investment Program is a $400 million multi-year investment in regionally significant economic development initiatives that create or retain private sector jobs.
And under the “New NY Broadband Initiative,” $500 million will be invested to launch a statewide broadband program that will establish high-speed broadband access by the end of 2018. The Initiative will work to eradicate this disparity, by providing access for businesses, hospitals, and schools to indispensable information. As of July 2014, more than half of the population in Allegany, Cattaraugus, Chautauqua, and Livingston Counties did not have access to high-speed broadband.
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