Updates and Activities of the NCREDC
With April comes a new State Budget and dedicated funding for a fourth round of the Regional Councils. While details will be announced in the coming weeks, $150 million will be available in capital funding and $70 million in Excelsior Jobs tax credits statewide for priority projects. This competitive funding is in addition to funding provided through existing state agency programs.
There is a focus on Global NY in this round’s competition. Global NY will link the Governor’s START-UP NY and Regional Economic Development Council initiatives to attract international investment to Upstate and help New York companies export their products to international markets.
With the North Country region bordering Canada, including the St. Lawrence Seaway and major ports of entry, the North Country Regional Economic Development Council is looking forward to focusing its efforts on this initiative. We have kicked off the year with a new Global North Country Work Group that is hard at work finding new opportunities for the North Country to excel within this initiative such as exporting North Country goods around the world and foreign direct investment in the region.
While there is a focus on Global NY this year, we are not redirecting attention away from other important sectors in the North Country economy like encouraging and helping young entrepreneurs, manufacturing, small business, tourism, agriculture, green energy, community development, higher education, technology and other existing and developing industries in the region. Our goal is to help create family-sustaining jobs and build an innovative economy in the region.
As more details of Round 4 become available, they will be posted here; so check back often or sign up to follow this blog and receive an email notification with each new post (you can follow the blog by clicking “Follow” in the right column).
Also, check out our new blog page above by clicking on “CFA Guides”. This page is a place for guides and information on the Consolidated Funding Application and the process. Right now, there is a diagram and a short written summary explaining the process. More documents will be posted as they come available for this round.