Regional Economic Development Councils

Empowering community, business and academic leaders to drive economic activity.

The Regional Economic Development Councils (REDCs) support the state’s innovative approach to economic development, which empowers regional stakeholders to establish pathways to prosperity, mapped out in regional strategic plans. Through the REDCs, community, business, academic leaders, and members of the public in each region of the state put to work their unique knowledge and understanding of local priorities and assets to help direct state investment in support of job creation and economic growth.

Recognizing the importance of the academic community to economic prosperity, the REDCs facilitate collaboration between business and academia to ensure that employer workforce needs are being met and business support services are available to start-up companies seeking to commercialize academic research.

Each Regional Council has become the voice of the region, advising agencies on the programs and projects most valuable to its stakeholders. What started as an initiative focused on economic investments has blossomed into a program that invests in people and communities. Under Governor Hochul’s leadership, the State is committed to continuously improving the REDC process and maximizing impact throughout the state.

Since its inception, the REDC Initiative has awarded over $7.5 billion to more than 9,200 projects through a competitive process to spur job creation based on regional priorities. For Round XII, Regional Councils will once again focus on the implementation of each region’s strategic plan, and continue to identify and invest in significant economic development projects. Round XII includes core capital and tax-credit funding that will be combined with a wide range of existing agency programs. The core funding includes $225 million in grants and tax credits, to fund high value regional priority projects, as well as additional funding from state agencies available to support community revitalization and business growth consistent with the existing REDC plans through the CFA process.

The REDCs have also played a critical role in identifying where to spend $600 million in nearly 60 Downtown Revitalization Initiative (DRI) communities. The DRI is a community planning and implementation process where each participating community develops the key ingredients needed for successful downtown revitalization. Now entering its sixth year, REDCs will again identify the communities that will benefit from $100 million in state investment through the traditional DRI Program, as well as smaller and more rural areas that will benefit from another $100 million via the new NY Forward program. Additionally, the REDCs will continue to play a critical role in other state initiatives such as the Upstate Revitalization Initiative and Better Buffalo Fund.