Governor Andrew M. Cuomo recently announced that up to $750 million in state funding and tax incentives will be available as part of a second Regional Economic Development Council competitive round to support economic development, strategic plan implementation and job creation across the state. Funding for the second round includes $220 million ($150 million in capital and $70 million in tax credits from the Excelsior Jobs Program) to implement regional strategic plans and support priority projects, and up to $530 million from state agency programs through the CFA to support regionally-significant economic development projects. The CFA enables municipal government, agencies, businesses and other entities to apply to multiple state agency funding sources through a single, web-based application.
****************Due July 16, 2012
Utilizing the CFA as the single entry point for accessing economic development funding, applicants will no longer have to slowly navigate multiple agencies and applications without any mechanism for coordination. Now, applicants for economic development projects will use the CFA as a support mechanism to access multiple State funding sources through one application, making the process quicker, easier, more productive, and better aligning State resources with regional economic development priorities.
The Governor has directed these State agencies to make the following resources available through the CFA process:
Direct Assistance to Businesses: Up to $247 million
Empire State Development
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Up to $ 150 million for Regional Council Capital Fund
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Up to $ 70 million for Excelsior Jobs Tax Credits
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Up to $ 20 million for Empire State Economic Development Fund
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Up to $ 4 million for Urban and Community Development Program
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Up to $ 3 million for Regional Tourism Marketing Grant Initiative (I LOVE NEW YORK Fund)
Community Development: Up to $61.2 million
Homes and Community Renewal
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Up to $ 28 million in Community Development Block Grant (CDBG) Funding
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Up to $ 5.2 million for the New York Main Street Program
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Up to $ 4 million Urban Initiatives Program
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Up to $ 4 million Rural Assistance Revitalization Projects
Office of Parks, Recreation and Historic Preservation
- Up to $ 16 million for Municipal Parks, Historic Preservation, and Heritage Area Projects
New York State Council on the Arts
Agricultural Economic Development: Up to $3 million
Agriculture and Markets
Waterfront Revitalization: Up to $16 million
Department of State
Canal Corporation
- Up to $ 1 million for the Canalway Grants Program
Environmental Improvements: Up to $1 million+
Environmental Facilities Corporation
- $ TBD million Green Innovation Grant Program
Empire State Development
Energy Improvements: Up to $50 million
Energy Research and Development Authority
New York Power Authority
Sustainability: Up to $14 million
Energy Research and Development Authority
Workforce Development: Up to $5 million
Department of Labor
- Up to $ 5 million for Workforce Investment Act-related training and workforce development activities
Low-Cost Financing: Up to $350 million
- Up to $ 350 million for government tax-exempt bonds for private projects with a public purpose
On-line deadline is July 16, 2012. Contact your regional representative to get started on your application!
Central New York, Northern New York, and the Southern Tier: Scott Chenet at (315) 457-5200, or John Benson at (315) 457-5200.
Hudson Valley: Glenn Gidaly, AICP at (845) 391-8360, or Carmella Mantello at (518) 218-1801.
Capital District: Carmella Mantello at (518) 218-1801, or Glenn Gidaly, AICP at (845) 391-8360.
Western New York: Sharon Lilla at (585) 325-4856, Scott Chenet at (315) 457-5200, or John Benson at (315) 457-5200.