North Country Regional Economic Development Council

Updates and Activities of the NCREDC

NCREDC Submits Round 6 Progress Report

 

NCREDC Endorses 27 Priority Projects for Round VI of Governor Cuomo’s
Regional Economic Development Council Initiative

The North Country Regional Economic Development Council (NCREDC) today announced it recently submitted its 2016 Progress Report to Empire State Development, meeting New York State’s October 3 deadline. The report, which details the Council’s progress implementing its comprehensive Strategic Plan, is entitled Community, reflecting the broad and rural nature of the North Country’s communities, and the projects appropriate to each community’s specific needs.

In furtherance of these goals, strategies and initiatives, this report recommends 27 priority projects to advance the region’s growth objectives. These projects represent a total proposed state investment of $25,000,000 million, leveraging $77,648,870 in private and other funding for total project expenses of more than $102,648,870. Collectively, they support the creation of 213 new jobs, 439 indirect jobs and the retention of 393 existing jobs.

“In our sixth year of this new region by region economic development process, we feel the North Country is on the right trajectory, having stabilized many key measures as opposed to continued decline in most rural regions of the country, and now seeing real transformation in places across the region,” said Garry Douglas, NCREDC co-chair and President of the North Country Chamber of Commerce. “With no metro center and an especially dispersed and diverse economy, we focused from the start on appropriate strategies and sectors in key communities, and from Clayton to Plattsburgh and points in-between, the turnarounds are real. That’s why ‘Community’ is the theme of our 2016 submission, focused on community by community transformation with strategies and approaches that are now proven. We feel very positive about our progress and about our targets going forward.”

“Based on broad public participation from across the region into our strategies, plans and priorities; our communities are working together to drive global recognition of the North Country as one of the special places on the planet to visit, live, work and study,” said Anthony G. Collins, NCREDC co-chair and President of Clarkson University. “Our 2016 submission underscores our commitment to energize and invest in our communities to drive job growth, responsibly steward our natural assets, and create new opportunities to attract and retain our next generation of regional community leaders.”

The report includes the region’s strong performance record in implementing its strategies and projects since the first round of Governor Andrew M. Cuomo’s Regional Economic Development Council initiative in 2011. The first five rounds of funding resulted in $423.2 million in State funding to support nearly 400 projects that are completed or in progress and have committed to create or retain 6,444 jobs in the region. The Council’s plan supports this positive trend and will continue to build on the success of previous years, accelerating the North Country’s regional economy.

The NCREDC highlighted three examples to showcase the success of the Council’s community-oriented approach to state partnership:
• In Plattsburgh, direct and indirect investments in the Transportation Equipment and Aerospace Cluster are having a dramatic effect on foreign direct investment and manufacturing growth.
• In Clayton, investment in the creation of the 1000 Islands Harbor Hotel has improved the waterfront economy with spinoff businesses in the adjacent downtown.
• In Tupper Lake, the creation of the new “Wild Walk” attraction at the Wild Center has led to an increased visitation, leading to increases in hospitality and nearly a dozen new initiatives.

The Progress Report can be found at http://regionalcouncils.ny.gov/content/north-country.

Round VI of the REDC initiative will award more than $750 million in state funding and tax incentives, including up to $175 million in capital grants and up to $70 million in Excelsior Tax Credits for projects and activities identified by the Councils as regional priorities in their communities. Additionally, over $510 million from state agency programs will be awarded through the CFA process.

Regional Council priorities in 2016 include:
•Support the Downtown Revitalization Initiative Plan, and begin to identify priority projects in the defined community;
•Implementing strategies through the project pipeline;
•Training the workforce for today and tomorrow; and
•Measuring the performance and progress of the strategic plan and CFA projects.

To encourage the implementation of the Regional Economic Development Councils’ strategic plans and to continue to motivate investment opportunities and job creation, the Regional Councils will compete in 2016 for up to $175 million in capital funds and $70 million in Excelsior Tax Credits for projects identified by the Regional Councils as priorities in their regions.

By incentivizing the implementation of the strategic plans, Regional Councils, businesses, educational institutions, local governments, not-for-profit groups and other stakeholders are further motivated to work together to accomplish the regional vision. While project funding will be awarded to all 10 Regional Councils through the 2016 CFA, the competition places emphasis on Regional Council performance and action to implement strategies. Encouraging genuine cooperation among the REDCs and representatives of the community is critical to achieving economic development success.

Round VI Awards
In 2016, all 10 REDCs will be competing for a designation as a Top Performer. Five Top Performers will be selected and will receive up to $25 million in Empire State Development Capital Grant funding, with the remaining five regions receiving up to $10 million in Empire State Development Capital Grant funding. Additionally, each region will be eligible for up to $15 million in Excelsior Tax Credits to help attract and grow businesses in the region.

Later this fall, the Strategic Implementation Assessment Team (SIAT), which is comprised of NYS agency commissioners and outside experts, will receive in-person presentations from each of the 10 REDCs as part of its review and recommendation process. The 2016 REDC awards will be announced before the end of the year.

About the Consolidated Funding Application
As part of Governor Cuomo’s efforts to improve the state’s economic development model, a NYS Consolidated Funding Application (CFA) was created to streamline and expedite the grant application process. The CFA process marks a fundamental shift in the way state resources are allocated, ensuring less bureaucracy and greater efficiency to fulfill local economic development needs. The CFA serves as the single entry point for access to economic development funding, ensuring applicants no longer have to slowly navigate multiple agencies and sources without any mechanism for coordination. Now, economic development projects use the CFA as a support mechanism to access multiple state funding sources through one application, making the process quicker, easier, and more productive. To access the CFA, please visit https://apps.cio.ny.gov/apps/cfa/.

About the Regional Economic Development Councils
The Regional Economic Development Council (REDC) initiative is a key component of Governor Cuomo’s approach to State investment and economic development. In 2011, Governor Cuomo established 10 Regional Councils to develop long-term strategic plans for economic growth for their regions. The Councils are public-private partnerships made up of local experts and stakeholders from business, academia, local government, and non-governmental organizations. The Regional Councils have redefined the way New York invests in jobs and economic growth by putting in place a community-based, bottom up approach and establishing a competitive process for State resources. After five rounds of the REDC process, nearly $4 billion has been awarded to more than 4,100 job creation and community development projects consistent with each regions strategic plans, projecting to create and retain more than 200,000 jobs. For more information on the Regional Councils, visit http://www.regionalcouncils.ny.gov.

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This entry was posted on October 5, 2016 by in Events and tagged , , .

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