Governor Cuomo Launches a New Decade of the Regional Economic Development Council Initiative Share
Round XI Will Award More Than $750 Million Across All 10 REDC Regions to Build Back Better in a Post-COVID Economic Recovery
Governor Andrew M. Cuomo today launched Round XI of the Regional Economic Development Council initiative, officially kicking off a new decade of economic development in a post-pandemic recovery. The 2021 funding round includes more than $750 million in state economic development resources. The Consolidated Funding Application will open on May 10, enabling businesses, municipalities, not-for-profits and the public to begin applying for assistance from dozens of state programs for job-creation and community development projects.
When the pandemic dominated the country’s attention last year, many milestones passed without the recognition they merited, including the 50th anniversary of Earth Day.
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New York’s Governor Cuomo is having a bad 2021. Some may attribute this to his hubris or to karma; others may point to an emboldened, and now veto-proof,[i] progressive State Legislature; many will claim that Mr. Cuomo is paying the price for being out of touch with the electorate. Whatever the reason, his fall from “political grace” has been precipitous, and it has had immediate[ii] consequences for tax policy in New York, as manifested in the $212 billion budget agreement (the “Bill”) that the Governor announced last week.
$311 Billion Infrastructure Plan: New York s $311 billion infrastructure plan includes the Governor s $211 billion 2020-24 plan and his $100 billion 2015-2019 plan. The evolving plan increased by $36 billion in the budget with the inclusion of new, key elements of the Midtown West Redevelopment of New York City beginning with Penn Station, Belmont Station Redevelopment, a $3 billion environmental bond act, transportation programs, and additional supportive, affordable, and public housing support, along with incremental adds to existing capital programs.
First-in-the-Nation Affordable Internet for Low-Income Families: The FY 2022 Enacted Budget includes first-in-the-nation legislation requiring internet service providers to offer an affordable $15 per month high-speed internet plan to qualifying low-income households. The State will also require providers to advertise this plan to ensure programs reach underserved populations across the State. To further bridge
Bright spots for Capital Region seen in state budget
New Wadsworth Lab funding approved, many programs intact despite COVID
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Money for a new Wadsworth lab is in the state budget after years of trying.NYSDOH
With the broad contours of the $212 billion state budget in place, elected officials and others are sifting through some of the bright news in store for the Capital Region.
That includes a $750 million commitment to rebuild and consolidate the state’s venerable Wadsworth Center health and science labs along Brevator Avenue on the east end of the Harriman state office campus in Albany.
“It’s terrific news,” said Albany Democratic Assemblywoman Patricia Fahy, who with other local legislators has sought the project for years. Of the money allocated, $150 million is for site preparation with the rest toward building the center.