The state kicked off its annual regional economic development council competition, which this year includes an extra $1.5 billion for upstate projects.
As in previous years, the competition will split $750 million between New York’s 10 regional councils, with three top winners receiving $105 million each and others landing about $90 million per region. The program will also award three $500 million awards, to be disbursed at a rate of $100 million per year for five years, to winners from the Finger Lakes, Southern Tier, Central New York, Mohawk Valley, North Country, Capital District, and Mid-Hudson areas.
The local economic development council is co-chaired by Hofstra President Stuart Rabinowitz and Long Island Association chief Kevin Law. The contest officially opens Friday with a final deadline in July. The awards will be announced in the fall.
Since 2011, the competition has awarded nearly $3 billion to support more than 3,100 projects that are projected to create or retain at least 150,000 jobs statewide, according to Gov. Andrew M. Cuomo.
A breakdown of the funding so far:
· Western New York: $272.5 million for 304 projects
· Finger Lakes: $305.5 million for 355 projects
· Southern Tier: $303.2 million for 298 projects
· Central New York: $344.5 million for 311 projects
· Mohawk Valley: $261.9 million for 264 projects
· North Country: $338.1 million for 291 projects
· Capital Region: $255.8 million for 365 projects
· Mid-Hudson: $302.2 million for 350 projects
· New York City: $236.1 million for 231 projects
· Long Island: $326.2 million for 347 projects
