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Mohawk Valley Regional Economic Development Council Encourages Project Applicants to Complete Priority Project Worksheet

(May 25, 2012)

Mohawk Valley Regional Economic Development Council Encourages Project Applicants to Complete Priority Project Worksheet

The Mohawk Valley Regional Economic Development Council (MVREDC) is encouraging applicants seeking state support for economic and community development projects to complete a Priority Project Worksheet to help the Council identify projects that can be designated as “Priority” and which are consistent with the Council’s Strategic Plan and Five-Core Strategies.

As part of the second round of Governor Andrew M. Cuomo’s Regional Economic Development Council initiative, the six-county Mohawk Valley Region is competing for $25 million in capital funds for Priority Projects through the Consolidated Funding Application (CFA). The Region includes Fulton, Herkimer, Montgomery, Oneida, Otsego and Schoharie counties.

The worksheet -- along with an abundance of information about the Regional Council, its Strategic Plan and the CFA -- can be found at http://regionalcouncils.ny.gov/content/mohawk-valley.

The Council will use the information gathered through the worksheets to determine each project's compatibility with one of the MVREDC's Five-Core Strategies:

1. Enhancing Regional Concentrations
2. Workforce Alignment & Education
3. Innovation Enabling Infrastructure
4. Increasing Spatial Efficiencies
5. Government & Civic Effectiveness

Last year, a total of $785 million was awarded statewide through the CFA for job creation and community development projects consistent with each region’s strategic plans. As part of that process, MVREDC was awarded $60.2 million for 59 projects.

Earlier this month, Governor Andrew M. Cuomo announced a second round of economic development funding for the CFA process. The second round offers up to $750 million in economic development funding, including $220 million to implement regional strategic plans and support priority projects – $150 million in capital and $70 million in tax credits from the Excelsior Jobs Program – and more than $530 million from state agency programs through the CFA to support regionally significant economic development projects. Applications are due by 4 p.m. on July 16th.

The CFA provides access to economic development resources from 21 programs across a dozen state agencies. It is the primary portal for businesses to apply for state agency resources, including resources for community development, direct assistance to business, waterfront revitalization, energy and environmental improvements, sustainability, workforce development, agricultural economic development and low-cost financing.

To learn more about the CFA or about each regional council and its economic development plan, visit www.nyworks.ny.gov.

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