(Syracuse, NY – July 2013) As the third round of the Regional Economic Development Council (REDC) quickly approaches, Consolidated Funding Applications (CFA) can now be submitted. By streamlining the application process, the CFA makes it easier for businesses, municipalities and not-for-profits to receive valuable state resources. With a total of $760 million in funding available, I strongly urge those eligible to submit applications to take advantage of the great opportunities afforded by this competitive grant program. Applications for those who are interested in REDC funding are available at https://apps.cio.ny.gov/apps/cfa and will be accepted until 4 p.m. on Aug. 12, 2013.
Central New York has already greatly benefited from this initiative. During the first round of the REDC, our region was named the best plan awardee and received $103.7 million in state resources to support 74 capital projects. During the second round, CNY was deemed a top performer and awarded $93.8 million for 73 projects. Let’s continue the positive progress and ensure our area receives its fair share of funding for community projects that will create local jobs and stimulate our economy.
During the budget process, I supported other initiatives to facilitate economic growth in our area and across the state. The Innovation Venture Capital Fund will invest in new businesses and help them transition from research and development to commercialization. The Business Incubator and Innovation Hot Spot Support Act will provide new companies with support services, including technical, marketing, and entrepreneurial training.
The newly established tax credits that I fought for this year will create jobs and boost employment among veterans and young people. By providing much needed tax relief and helping cut costs, we are truly making New York a more business friendly state. I will continue advocating for such initiatives and valuable programs like the REDC to ensure our local businesses and entrepreneurs have the resources they need to implement new, innovative ideas that will move Central New York forward.
For more information on the CFAs, visit www.regionalcouncils.ny.gov or contact my office at 449-9536 or robertss@assembly.state.ny.us.