Western New York Regional Economic Development Council Holds Public Meeting in Buffalo
The Western New York Regional Economic Development Council (WNYREDC) held a public meeting today in Buffalo at the 43North Incubator at the Buffalo Niagara Medical Campus Innovation Center. The meeting, attended by new WNYREDC Co-Chair Jeff Belt and new WNYREDC Executive Director Christopher Schoepflin, included presentations on the fifth round of the Regional Economic Development Council competition and funding, a Buffalo Billion update and 43North highlights and round two status of the business plan competition.
“For my first meeting as co-chair, I’m pleased to report that the council is well underway and soliciting quality projects that align with and advance our region’s strategy for prosperity,” said Jeff Belt, WNYREDC Co-Chair. “This will be the fifth round of funding through the regional council initiative. Diversity makes our region strong so we are encouraging the widest possible spectrum of project applicants.”
“Governor Cuomo’s REDC initiative has truly transformed our region’s economy and we are looking to continue this trend as we solicit project ideas for Round 5,” said Satish K. Tripathi, WNYREDC Co-Chair and University at Buffalo President. “The REDC has allowed us the opportunity to capitalize on our own unique assets and, as always, we will put forward an exciting plan that invests in our region’s future.”
The launch of Round V of the Regional Economic Development Councils (REDC) competition, which includes up to $750 million in state economic development resources, was recently announced by Governor Andrew Cuomo. The Consolidated Funding Application (CFA) opened to applicants on May 1 with a deadline of July 31 at 4 p.m., allotting more time than past years for WNYREDC to solicit and identify projects in the region. This timeline also provides additional time for businesses, municipalities, not-for-profits and the public to apply for assistance from dozens of state funding programs for job creation and community development projects. As in prior years, the REDCs will submit a Progress Report for Round V, which provides both an update on the council’s implementation of its Strategic Plan and an outline of the projects and proposals for which the REDC is seeking funding. The 2015 REDC Progress Report updates and priority project lists for all 10 regions are due to the state on September 21, 2015.
The WNYREDC will hold three Consolidated Funding Application (CFA) workshops for potential applicants to learn more about the fifth round of Governor Cuomo’s initiative to stimulate job creation and economic growth through the Regional Economic Development Councils. **Please register for the CFA Workshops at http://regionalcouncils.ny.gov/content/western-new-york.
- June 3, 1:30 to 4 p.m. – D’Youville College, Buffalo
- June 15, 1:30 to 4 p.m. – Jamestown Community College, Olean
- June 29, 1:30 to 4 p.m. – Conference Center Niagara Falls, Niagara Falls
The WNYREDC also encourages businesses, educational institutions, local governments, not-for-profit groups and other stakeholders to submit specific project ideas via the new Priority Project Request Form at: http://regionalcouncils.ny.gov/genericcfa/western-new-york-priority-project-request-form. The new Priority Project Request Form is an optional submission that replaces the former WNYREDC Letter of Interest. An official CFA must still be submitted to be considered for State funding.
The WNYREDC, which is composed of Allegany, Cattaraugus, Chautauqua, Erie and Niagara counties, is one of 10 regional councils across New York State that serve as a single point of contact for economic activity in the various regions. Successful projects will be those that are ready for implementation and align with the Western New York region’s 2011 strategic plan, “A Strategy for Prosperity,” which focuses on economic enablers that promote smart growth, prepare the workforce, and foster a culture of entrepreneurship. Successful projects will also leverage these principles to accelerate key industry sectors which include advanced manufacturing, agriculture, bi-national logistics, energy, health & life sciences, higher education, professional services and tourism. In the first four rounds of the Regional Council initiative, the Western New York region was awarded $273.5 million in state support for 306 projects across its five counties. To learn more about the WNYREDC, visit http://regionalcouncils.ny.gov/content/western-new-york.About the Consolidated Funding Application
As part of Governor Cuomo’s efforts to improve the state’s economic development model, the 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 initiative (REDC) is a key component of Governor Andrew M. Cuomo’s transformative approach to 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 four rounds of the REDC process, nearly $3 billion has been awarded to more than 3,000 projects consistent with each region’s Strategic Plan and are projected to result in the creation or retention of more than 150,000 jobs. For more information on the Regional Councils, visit www.regionalcouncils.ny.gov.