Albany, N.Y.-- Governor Andrew M. Cuomo today announced that $785 million has been awarded through the Regional Economic Development Council initiative, continuing the Governor's efforts to redesign the way state government works in order to drive economic growth and create jobs.
Announced in July, Regional Councils represent a fundamental shift in the state's approach to economic development from a top-down development model to a community-based, performance driven approach which empowers individual areas to develop comprehensive strategic plans that invest in regional solutions to create jobs and economic growth. As part of the Regional Council process, a Strategic Plan Review Committee was chosen to analyze and rank the strategic plans for each region competing for $200 million in specially targeted economic development funding.
Strategy for Investing in Educated Workforce and Advanced Manufacturing
The Finger Lakes' strategic plan built on existing natural resources, a talented and educated workforce, and a commitment to innovation and philanthropy. It also built off the area's standing as the state's top agricultural region, its national leadership in per capita intellectual property and degrees in higher education.
The plan focused on the region's existing collaborations between public and private institutions to optimize performance in advanced manufacturing, the arts, tourism, and basic and applied research in medicine, science, engineering, and technology.
Encouraging Innovation
$5 million will help expand a partnership between the University of Rochester and IBM and will support a new Health Sciences Center for Computational Innovation. The partnership will continue to work to create the world's most powerful computer system dedicated to health research. The center will also enable the university to grow its research funding and accelerate the development of the region's life sciences sector.
Enhancing Strategic Industries
$3.5 million will go to NYBEST Battery and Energy Storage Product Commercialization Center. This funding will help renovate and equip a facility to build, test and characterize batteries and energy storage devices at the Eastman Business Park in Rochester.
$2.5 million will help construct a new business incubator at High Technology Rochester to ensure better coordination among fledgling tech-sector startups.
More than $1.5 million will be used for advanced manufacturing projects, including $1.25 million for e2e Materials, Inc. to establish a full-scale production facility. This new facility will manufacture sustainable bio-composite products that replace high-volume wood/wood composite materials in applications such as cabinetry, furniture and automotive components in Geneva.
Tourism & Arts
$2.28 million will support the development of a new Finger Lakes Cultural and Natural History Museum located at Keuka Lake State Park.
Geographical Breakdown
The approved Finger Lakes regional plan includes 93 funded projects totaling $68.8 million. Here’s the complete breakdown of who is getting what:
•Western: $100.3m
•Southern Tier: $49.4m
•Finger Lakes: $68.8m
•Central NY: $103.7m
•Mohawk Valley: $60.2m
•North Country: $103.2m
•Capital Region: $62.7m
•Mid Hudson: $67m
•NYC: $66.2m
•Long Island: $101.6m
For a full appendix of these projects, go to this link.
Announced in July, Regional Councils represent a fundamental shift in the state's approach to economic development from a top-down development model to a community-based, performance driven approach which empowers individual areas to develop comprehensive strategic plans that invest in regional solutions to create jobs and economic growth. As part of the Regional Council process, a Strategic Plan Review Committee was chosen to analyze and rank the strategic plans for each region competing for $200 million in specially targeted economic development funding.
Strategy for Investing in Educated Workforce and Advanced Manufacturing
The Finger Lakes' strategic plan built on existing natural resources, a talented and educated workforce, and a commitment to innovation and philanthropy. It also built off the area's standing as the state's top agricultural region, its national leadership in per capita intellectual property and degrees in higher education.
The plan focused on the region's existing collaborations between public and private institutions to optimize performance in advanced manufacturing, the arts, tourism, and basic and applied research in medicine, science, engineering, and technology.
Encouraging Innovation
$5 million will help expand a partnership between the University of Rochester and IBM and will support a new Health Sciences Center for Computational Innovation. The partnership will continue to work to create the world's most powerful computer system dedicated to health research. The center will also enable the university to grow its research funding and accelerate the development of the region's life sciences sector.
Enhancing Strategic Industries
$3.5 million will go to NYBEST Battery and Energy Storage Product Commercialization Center. This funding will help renovate and equip a facility to build, test and characterize batteries and energy storage devices at the Eastman Business Park in Rochester.
$2.5 million will help construct a new business incubator at High Technology Rochester to ensure better coordination among fledgling tech-sector startups.
More than $1.5 million will be used for advanced manufacturing projects, including $1.25 million for e2e Materials, Inc. to establish a full-scale production facility. This new facility will manufacture sustainable bio-composite products that replace high-volume wood/wood composite materials in applications such as cabinetry, furniture and automotive components in Geneva.
Tourism & Arts
$2.28 million will support the development of a new Finger Lakes Cultural and Natural History Museum located at Keuka Lake State Park.
Geographical Breakdown
The approved Finger Lakes regional plan includes 93 funded projects totaling $68.8 million. Here’s the complete breakdown of who is getting what:
•Western: $100.3m
•Southern Tier: $49.4m
•Finger Lakes: $68.8m
•Central NY: $103.7m
•Mohawk Valley: $60.2m
•North Country: $103.2m
•Capital Region: $62.7m
•Mid Hudson: $67m
•NYC: $66.2m
•Long Island: $101.6m
For a full appendix of these projects, go to this link.
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