{"id":37583,"date":"2022-06-13T11:08:47","date_gmt":"2022-06-13T15:08:47","guid":{"rendered":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/?p=37583"},"modified":"2022-06-13T11:08:47","modified_gmt":"2022-06-13T15:08:47","slug":"state-opens-application-period-for-its-annual-regional-economic-development-initiative","status":"publish","type":"post","link":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2022\/06\/state-opens-application-period-for-its-annual-regional-economic-development-initiative\/","title":{"rendered":"State Opens Application Period For Its Annual Regional Economic Development Initiative"},"content":{"rendered":"<p>New York state has launched<span class=\"Apple-converted-space\">\u00a0 <\/span>Round XII of the its annual Regional Economic Development Council Initiative.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Several area companies and development projects have been helped over the years by funding from this initiative.<\/p>\n<p>Round XII includes core capital grant and tax-credit funding to be combined with a wide range of programs from 10 state agencies that will provide funding for prospective projects. As with Round XI, $150 million in grant funds from Empire State Development will be available to projects on a continuous basis, in order to be responsive to the immediate needs of communities.<\/p>\n<p>\u201cThe Regional Economic Development Councils have been transformative for communities across the state, and we will continue supporting impactful projects that align with each region\u2019s strategic goals,\u201d Gov. Kathy<span class=\"Apple-converted-space\">\u00a0 <\/span>Hochul said. \u201cThrough Round XII, we are addressing one of the biggest challenges\u2014and opportunities\u2014in our state\u2019s economic development strategy by supporting New Yorkers in developing the skills they need to succeed, both today and in the future. The REDCs will identify strategies to ensure employers in growing industries have access to the skilled labor they need to be competitive, helping usher in a more prosperous New York for all.\u201d<\/p>\n<p>This year, the Regional Economic Development Councils will prioritize workforce development, with a specific focus on developing and funding job training and placement programs that address the current and future needs for talent of employers in the state and each region, officials said. As part of this focus on equitable growth, each Regional Council will work in concert with ESD and the new Office of Strategic Workforce Development to create a tailored regional strategy identifying the specific jobs and skills needed by employers in that area of the state.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The Regional Councils and ESD will then seek to fund programs that help workers meet these specific needs.<\/p>\n<p>Earlier this year, Hochul created a new Office of Strategic Workforce and Economic Development within ESD. The office\u2019s purpose is to leverage ESD\u2019s expertise in working with businesses in New York state to inform the design of workforce training and placement programs.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p><b><span class=\"s1\"><span class=\"s2\"><!--more--><\/span><\/span><\/b>The office\u2019s mission is to help New Yorkers get the skills and opportunities to succeed in growing fields. By ensuring that employers in these industries have access to high-quality, skilled labor, New York will improve its competitive position and help its people attain greater opportunities to prosper.<\/p>\n<p>Officials said the office will utilize the expertise of the Regional Councils, which possess local knowledge of workforce needs, trends, and opportunities. Regional Councils will create a \u201cregional workforce inventory\u201d to identify each region\u2019s post-pandemic workforce needs. This will serve as a guide as ESD and the Regional Councils review applications to new grant programs that will be offered later this year.<\/p>\n<p>To inform this effort, New York state, in partnership with the Business Council of New York State, has developed a comprehensive online survey to solicit vital feedback from businesses on the skills required for workers to be successful in today\u2019s complex economy, and how New York can prepare and position its labor force to better serve companies\u2019 needs. This demand-driven approach will ensure that New York has access to real-time feedback on in-demand jobs and skills to inform its statewide and regional workforce development efforts.<\/p>\n<p>The Regional Councils will score projects submitted through the Consolidated Funding Application (CFA), which is the State\u2019s single application for state resources and includes programs from numerous agencies. It is designed to give project applicants expedited and streamlined access to a combined pool of grant funds and tax credits from dozens of existing programs. Regional Councils will review projects and provide scores that reflect how well a project aligns with a region\u2019s goals and strategies.<\/p>\n<p>To guide the Regional Councils in these efforts, ESD has prepared its annual Guidebook for REDC members. The guidebook and a list of additional resources available to REDC Members are accessible here. The CFA is available at https:\/\/apps.cio.ny.gov\/apps\/cfa\/index.cfm. The deadline for applications is Friday, July 29 at 4 p.m.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Open enrollment programs are not subject to the July 29 deadline and will continue to accept applications on an ongoing basis until funds are exhausted.<\/p>\n<p>The REDC process continues to support and empower regional stakeholders in developing strategic plans and funding priorities that meet local economic needs. To date, through the REDC Initiative, more than $7.5 billion has been awarded to more than 9,200 job creation and community development projects consistent with each region\u2019s strategic plan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York state has launched\u00a0 Round XII of the its annual Regional Economic Development Council Initiative.\u00a0 Several area companies and development projects have been helped over the years by funding from this initiative. Round XII includes core capital grant and tax-credit funding to be combined with a wide range of programs from 10 state agencies [&hellip;]<\/p>\n","protected":false},"author":89,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-37583","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>State Opens Application Period For Its Annual Regional Economic Development Initiative - Saratoga Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2022\/06\/state-opens-application-period-for-its-annual-regional-economic-development-initiative\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"State Opens Application Period For Its Annual Regional Economic Development Initiative - Saratoga Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"New York state has launched\u00a0 Round XII of the its annual Regional Economic Development Council Initiative.\u00a0 Several area companies and development projects have been helped over the years by funding from this initiative. Round XII includes core capital grant and tax-credit funding to be combined with a wide range of programs from 10 state agencies [&hellip;]\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2022\/06\/state-opens-application-period-for-its-annual-regional-economic-development-initiative\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Saratoga Business Journal\" \/>\r\n<meta property=\"article:published_time\" content=\"2022-06-13T15:08:47+00:00\" \/>\r\n<meta name=\"author\" content=\"Jake Van Ness\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jake Van Ness\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2022\/06\/state-opens-application-period-for-its-annual-regional-economic-development-initiative\/\",\"url\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2022\/06\/state-opens-application-period-for-its-annual-regional-economic-development-initiative\/\",\"name\":\"State Opens Application Period For Its Annual Regional Economic Development Initiative - Saratoga Business Journal\",\"isPartOf\":{\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#website\"},\"datePublished\":\"2022-06-13T15:08:47+00:00\",\"dateModified\":\"2022-06-13T15:08:47+00:00\",\"author\":{\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#\/schema\/person\/a11ec438b5f0e57f1156754ba3931b86\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2022\/06\/state-opens-application-period-for-its-annual-regional-economic-development-initiative\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2022\/06\/state-opens-application-period-for-its-annual-regional-economic-development-initiative\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2022\/06\/state-opens-application-period-for-its-annual-regional-economic-development-initiative\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"State Opens Application Period For Its Annual Regional Economic Development Initiative\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#website\",\"url\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/\",\"name\":\"Saratoga Business Journal\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#\/schema\/person\/a11ec438b5f0e57f1156754ba3931b86\",\"name\":\"Jake Van Ness\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/8083519989e12032abdd06a668982ef4?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/8083519989e12032abdd06a668982ef4?s=96&d=mm&r=g\",\"caption\":\"Jake Van Ness\"},\"url\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/author\/jakev\/\"}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"State Opens Application Period For Its Annual Regional Economic Development Initiative - Saratoga Business Journal","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2022\/06\/state-opens-application-period-for-its-annual-regional-economic-development-initiative\/","og_locale":"en_US","og_type":"article","og_title":"State Opens Application Period For Its Annual Regional Economic Development Initiative - Saratoga Business Journal","og_description":"New York state has launched\u00a0 Round XII of the its annual Regional Economic Development Council Initiative.\u00a0 Several area companies and development projects have been helped over the years by funding from this initiative. 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