As part of Round VII of Governor Andrew M. Cuomo’s Regional Economic Development Council initiative, the Long Island Regional Economic Development Council (LIREDC) was awarded $84.3 million for 98 projects as one of five regional Top Performers. After seven rounds of the Regional Council initiative, the Long Island Region has received $570.8 million in state resources to support 688 projects across the region.
LIREDC Co-Chairs, Hofstra University President Stuart Rabinowitz and Long Island Association President Kevin Law, said “Long Island’s designation as a Top Performer is further proof of this region’s incredible momentum. These awards will support job growth, leverage private investment, and spur smart, sustainable economic development that will make Long Island an even better place to live, work, and play. We thank the LIREDC for their hard work and the Governor for his continued commitment to the economic vitality of our community.”
Both counties within the Long Island Region received funding for select projects, including 24 LIREDC priority projects. Several highlights of Long Island Region projects awarded funding in Round VII include:
More information on the 2017 Regional Economic Development Council Awards is available here.
The REDC process has transformed government’s approach to economic development in New York State, creating a statewide framework for bottom-up, regional economic growth and streamlining the state funding application process. Since 2011, the first year of the initiative, over $5.4 billion has been awarded to more than 6,300 projects that are projected to create and retain more than 220,000 jobs statewide.
During Round VII, the Strategic Implementation Assessment Team (SIAT), which is composed of state agency commissioners and policy experts, traveled to each of the 10 regions to see firsthand the progress being made by REDC investments. The SIAT received presentations on this year's proposals from the Regional Councils directly and assessed the implementation of the regions' strategic plans.
Regional Council priorities in 2017 included:
To learn more about the LIREDC, please visit https://regionalcouncils.ny.gov/long-island
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 seven rounds of the REDC process, more than $5.4 billion has been awarded to more than 6,300 job creation and community development projects consistent with each regions strategic plans, projecting to create and retain more than 220,000 jobs. For more information on the Regional Councils, visit regionalcouncils.ny.gov.