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CNY Regional Council Again Receives Largest Statewide Award

The Central New York (CNY) region was awarded the most investment of any region across the state in the eighth round of the Regional Economic Development Councils (REDC) last month, receiving $88.2 million for 91 projects. The Central New York region has received the most investment out of all 10 council regions – more than $1 billion – since the inception of this statewide competitive funding program.



Members and supporters of the CNY Regional Economic Development Council celebrate winning the state’s largest investment out of all 10 councils — $88.2 million to fund 91 projects. Photo credit: Office of Governor Andrew Cuomo

“Being selected, once again, as a Top Performer is a testament to the region’s track record of success in advancing projects that align with our strategies to invest in businesses and industries that create jobs and drive greater opportunity for individuals across our community,” said Rob Simpson, president of CenterState CEO and CNYREDC council member. “This year’s awards includes several projects that hold significant potential to deliver strong ROI on the state’s investment, both in terms of leveraged dollars, jobs and payroll.”

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 8, downtown Auburn 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. Auburn leaders are developing a Strategic Investment Plan to guide the investment of DRI grant funds in revitalization projects that will advance the community’s vision for its downtown.

"I would like to extend my appreciation to the volunteer members of the CNYREDC, especially co-chairs, Randy Wolken, president and CEO of the Manufacturers Association of Central New York, and Dr. Danielle Laraque-Arena,” said Simpson. “Their ongoing energy and efforts have been integral to helping this region attract new high tech industries, grow existing manufacturers and invest in neighborhood business corridors throughout our center cities."

To read a full list of CNYREDC projects selected in Round 8, visit http://bit.ly/REDC18. For more information about the CNYREDC Consolidated Funding Application process and opportunities to advance capital projects, contact Andrew Fish at afish@centerstateceo.com.

CNYREDC Round 8 Project Highlights


PPC Broadband, Inc.

This project will create a 500,000-square-foot manufacturing facility to expand existing operations in Central New York, including reshoring portions of its manufacturing operations. The final facility will include offices, a lab, a manufacturing and assembly plant, and warehouse and distribution center. It will be built in five separate phases, implementing phase one each year.

Award: $3.35 million ESD grant; $8 million Excelsior Jobs Program
Total Project Cost: $50.5 million
Jobs:

176 direct new; 368 retained

 

   


Syracuse Urban Partnership, Inc.

This project will construct a mixed-use facility in downtown Syracuse. The first floor will consist of a central market with flexible vendor space open to the public, the second and third floors will be commercial space designed for not-for-profits with mission objectives consistent with those of the Allyn Foundation, and the fourth through sixth floors will contain 40 apartments. The project will include on-site parking.

Award: $1 million ESD grant
Total Project Cost: $19.2 million
Jobs:

106 construction