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The Tech Garden

CNY Regional Council Receives Largest Award Across State

The Central New York (CNY) region was awarded the most investment of any region across the state in the seventh round of the Regional Economic Development Councils (REDC) last month, receiving $86.4 million for 112 projects. The latest investment brings the region’s seven-year total to more than $1 billion awarded through the state’s competitive funding process, the most out of all 10 council regions.

“The projects supported by this round’s awards will further our progress by creating jobs, encouraging innovative business growth, and driving greater opportunity across all segments of our community,” said Rob Simpson, president of CenterState CEO and former CNYREDC co-chair. “We are incredibly proud to have been awarded the largest total investment of any region throughout all seven years of this process, which we believe is validation of our strong track record of advocating for projects that align with the region’s assets and strengths while leveraging investments for the greatest ROI and chance for project success.”

Members and supporters of the CNY Regional Economic Development Council celebrate its big win of $86.4 million to assist 112 projects. Photo credit: Office of Governor Andrew Cuomo

This latest round of funding allows for further implementation of the CNYREDC’s strategic plan for growth and continues the region’s forward momentum for the long term.

Also in Round 7, downtown Cortland was selected as CNY’s Downtown Revitalization Initiative (DRI) recipient, receiving $10 million for its strategic investment and revitalization plan, part of an effort to improve the urban vitality of city centers across New York state. Cortland’s DRI vision is for a downtown that thrives as the economic and cultural center of Cortland County through three strategies: embracing and expanding the creative economy; building a complete downtown neighborhood; and reimaging infrastructure for the 21st century.

As of January 2018, Randy Wolken, president and CEO of the Manufacturers Association of Central New York, joins Dr. Danielle Laraque-Arena, president of SUNY Upstate Medical University, as co-chair to the CNYREDC. Simpson served in the appointed co-chair role since the council’s inception in 2011.

“I know that Randy, along with Dr. Laraque-Arena, will continue the work we’ve started to bring jobs, investment and revitalization to our region,” said Simpson. “I look forward to continuing to work to advance the kinds of projects that create economic opportunities for our community through my new role as a member of the CNYREDC.”

CNY REDC Round 7 Project Highlights

Currier Plastics, Inc. - Medical Market Expansion
(Cayuga County)
Currier Plastics, Inc., a designer and manufacturer of custom plastic molded products using injection and blow molding technologies, will purchase and equip an existing building in Auburn. The project includes renovation of warehouse space and office areas as required to aggressively expand into manufacturing of packaging and product delivery items for the medical industry.
Award: $1.8 million ESD grant; $180,000 Excelsior Jobs Program tax credits
Total Project Cost: $9.9 million
Jobs: 20 direct new; 150 retained

Martens Companies, LLC - Refrigerating and Packing Facility
(Cayuga County)
Martens Companies, LLC will create a commercial food processing, packaging, and distribution center in Cayuga County, focusing primarily on health-conscious foods. The project includes purchasing the land and constructing and equipping a new facility.
Award: $940,000 ESD grant; $240,000 Excelsior Jobs Program tax credits
Total Project Cost: $4.7 million
Jobs: 100 direct new; 50 construction; 100 retained

Marquardt Switches Inc. - Global Technology Center Phase II
(Madison County)
Marquardt Switches Inc., a manufacturer of electromechanical switches and control systems at its North American Headquarters in Cazenovia, will complete Phase II of its Global Technology Center, including expanding the workspace for engineering and professional services; investing in high-tech manufacturing and testing equipment, and upgrading employee technical skills as required to remain competitive in the global marketplace.
Award: $600,000 ESD grant
Total Project Cost: $3.1 million
Jobs: 15 direct new; 435 retained

Home HeadQuarters, Inc. - Neighborhood Place-based Economic Development and Revitalization
(Onondaga County)
Project will transform six under-used properties in three distressed neighborhoods in the city of Syracuse. The project will include development of a North Side food hub, including warehousing, catering space, and a kitchen co-op; commercial spaces, including a full-service restaurant; and residential units.
Award: $314,000 ESD grant
Total Project Cost: $3.14 million
Jobs: 20 construction; 25 indirect

Fulton Group NA, Inc. & Affiliates - Implementation of World Class Manufacturing Process
(Oswego County)
Project will purchase a facility in East Syracuse; make renovations to facilities in Pulaski, East Syracuse and Syracuse; purchase and install machinery and equipment; and invest in research and development activities to develop new product offerings.
Award: $1.5 million ESD grant; $1 million Excelsior Jobs Program tax credits
Total Project Cost: $11.25 million
Jobs: 27 direct new; 343 retained