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Mid-hudson Regional Economic Development Council Delivers Progress Presentations

Delivers Presentation to SIAT as part of the Statewide Regional Council Progress Tour
(October 11, 2012)

Mid-hudson Regional Economic Development Council Delivers Progress Presentations

The Mid-Hudson Regional Economic Development Council (MHREDC) today delivered a presentation to the Strategic Implementation Assessment Team (SIAT) on its progress, achievements, and endorsed priority projects for the second round of the Regional Council competition. The presentation was a part of Governor Andrew M. Cuomo's statewide Regional Economic Development Council Progress Tour, where the Governor, joined by a team of state agency leaders and independent business experts and academics, conducted a firsthand review of the progress being made on last year's strategic economic development plans and job-creating projects.


"Last year, the Mid-Hudson Regional Council developed an innovative strategy to help transform our economy by supporting and attracting business growth and job creation," said Regional Council Co-Chair and Marist College President Dennis Murray and Regional Council Co-Chair and Regeneron Pharmaceuticals, Inc. President & CEO Leonard S. Schleifer, "Thanks to the leadership of Governor Cuomo, Lieutenant Governor Duffy, and the work of our Council members, we have fully embraced this extraordinary opportunity to turn that plan into action and demonstrate that our region can work together to spur economic growth. While last year was about developing a forward-thinking plan, this year is about turning that plan into action and demonstrating the great work we are doing to transform the region's economy"


Following the Governor's tour of regionally-significant projects to review their impact on the local economy, the MHREDC provided a formal presentation to SIAT outlining the progress they have made in advancing last year's strategic plans and projects, as well as their endorsed projects for the coming year to SIAT at the Marist College at the Cornell Boathouse in Poughkeepsie.


Based upon published guidelines (available in the 2012 Guidebook), SIAT will review and assess each region's progress as it relates to their accomplishments in the following categories:

  • Strategy updates;
  • Implementing the strategic plan;
  • Leveraging resources;
  • Advancing priority projects;
  • Measuring performance; and
  • Engaging the public and involving stakeholders.


The Regional Council competition awards will be made based on the progress the Councils have made implementing their strategies and the evolution of their strategic plans, including any revisions or updates.


Prior to the statewide progress tour, each Council submitted to the State on September 14, 2012, its one-year progress report, which provides detail on the Council's achievements in implementing its five year strategic plan. The report includes a description of how the Council established a framework to advance the plan, revisions to some of its strategies, an implementation agenda and a tracking of the advancement of priority job-creating projects awarded in 2011. Additionally, the MHREDC provided the State with its list of the 22 priority projects the Council has endorsed for the second round of the Regional Council competition.


The Council's progress report and full list of endorsed priority projects for 2012 can be found at


In the first round of the Regional Council initiative, Mid-Hudson was awarded $67 million in state support through the Regional Economic Development Council initiative and CFA process for 61 projects across the region. Throughout its first year of implementation activity, the Council has reported substantial progress in advancing an integrated approach to support key industry clusters in Hudson Valley, including the region's vibrant biotech, high-tech manufacturing and informational technology industries, distribution, financial and professional services, and the region's outstanding natural resources and tourism industry.


Once completed, the priority projects endorsed by the MHREDC and awarded funding through the 2011 CFA will significantly boost the local economy by creating and retaining over 1,700 permanent, non-construction jobs and leveraging over $180 million in additional private sector investment.


In 2012, the MHREDC endorsed 22 priority projects that upon completion have the potential to generate an estimated $750 million in private investment and economic activity, while creating and retaining an estimated 11,000 jobs.


Last year, Governor Cuomo created Regional Councils and the Consolidated Funding Application (CFA) to transform New York's operating model for economic development from a top-down approach to a community-based model which empowers individual regions to develop and advance regionally-targeted strategic plans and job-creating projects. In support of this initiative, $785 million was awarded for economic and community development projects consistent with each region's strategic plans. This year, the primary focus of the Regional Council initiative was to successfully implement and operationalize their strategic plans to make each region's vision for economic growth a reality.


To build on the success of the first round, a second round of up to $762 million in state resources was launched in 2012. Funding for the second round includes $220 million ($150 million in capital and $70 million in tax credits) to implement regional strategic plans and continue to advance priority job-creating projects, and up to $542 million from state agency programs through the CFA to support regionally-significant economic development projects.


The Regional Council competition will result in five best implementation awards, where regions will be awarded enhanced funding for priority projects based on the progress they have made in implementing last year's strategic plans. While project funding will be awarded in all 10 regions through the second round of the CFA, the competition places emphasis on Regional Council performance and action to implement strategies.


The competition phase will be split in two parts:

  • First, the four regions with the 2011 Best Plans will compete for two awards of up to $25 million each in capital funds.
  • Second, the remaining six regions will compete for three awards of up to $25 million each in capital funds.


The balance of the $25 million in capital funds will be divided among the remaining regions. Each region will also be eligible for up to $10 million in Excelsior Tax Credits to help attract and grow business in the region.


Funding awards for the second round of the CFA process will be announced later this year.


To view the MHREDC presentation and learn more about their economic development plans, visit