New York state has opened the application period for Round XIII of the Regional Economic Development Council Initiative.
Round XIII includes core capital grant and tax-credit funding combined with a wide range of programs from 10 state agencies, including $150 million in grant funds from Empire State Development, available to projects on a continuous basis.
The councils are encouraged to support projects that advance or address strategic State priorities—including green buildings and sustainable development, child care, distressed communities, and innovative public-private partnerships; those projects, will be eligible for additional award funding.
The deadline for applications is Friday, July 28, at 4 p.m. Open enrollment programs are not subject to the July 28 deadline and will continue to accept applications on an ongoing basis until funds are exhausted.
Officials said new this year, two new micro programs will award capital grants to support New York state craft beverage manufacturers and non-profit organizations, and a new $30 million Challenge competition will award $10 million to up to three regions to implement creative solutions to tackle persistent barriers to economic growth.
Also, for the first time since 2015, the councils will be tasked with updating their strategic regional economic development plans.
“Our Regional Economic Development Council Initiative continues to transform communities across the state, creating jobs and driving private investment all over New York,” Gov. Kathy Hochul said. “The launch of this latest round builds on state efforts to address our most pressing economic priorities—from sustainable development to the growing demand for childcare—all while empowering communities to tap into their regional strengths. Thanks to the work of the REDCs, New York is continuing to make the catalytic investments that foster economic growth and continued success in every corner of our state.”
Empire State Development President, CEO and Commissioner Hope Knight said, “While the Regional Economic Development Council Initiative has been a successful model for economic growth in New York state, we have been tasked to improve and enhance key programs that will expand on our many successes. Each region will update their strategic plans to re-establish their priorities for growth, continue to guide the deployment of resources, and create an updated road map for each region to achieve its economic vision for the future.”
The 10 REDCs are guided by their regional strategic economic development plans, which emphasize each region’s unique assets and provide strategies to harness local resources to stimulate regional economic development and create jobs statewide.
This year, the regional councils will review and update their plans to re-establish each region’s priorities for growth, guide the deployment of resources, and create an updated road map to achieving its economic vision.
As part of the updated strategic plan, the councils will be tasked with analyzing specific challenges to economic growth. Each REDC will develop a proposal that outlines creative and innovative solutions to address one specific challenge of their choice. These proposals will be reviewed by the state and up to three winning proposals will be awarded up to $10 million funding to implement the proposed solutions.
This year, funding is available from 10 state agencies across 30 programs. Regional councils will review projects and provide scores that reflect how well a project aligns with a region’s goals and strategies.
In Round XIII, ESD is launching two new micro grant programs: the Craft Beverage Micro Grant Program and the Not-for-Profit Capital Grant Program. Up to $5 million will be available through the Craft Beverage Micro Grant Program, designed to increase the production capacity, business infrastructure and profitability of businesses licensed to produce wine, beer, spirits, hard cider and mead in New York State. Grants ranging from $25,000 to $50,000 would support equipment purchases and facility upgrades.
Up to $5 million will be available through the Not-for-Profit Capital Grant program, which will award matching funds grants to nonprofit organizations who provide economic and community benefits in their region to assist with facility improvements and upgrades. Grant awards would range from $25,000 to $100,000.
The Regional Economic Development Council initiative is a key component of the state’s approach to investment and economic development. In 2011, 10 Regional Councils were established to develop long-term strategic plans for economic growth for their regions. The councils are public-private partnerships made up of local experts and stakeholders from business, academia, local government, and non-governmental organizations.
Learn more at regionalcouncils.ny.gov.