New York Awards $785 Million in Economic Development Grants

share this news:

Long Island, Western New York, the North Country and Central New York were the top winners in a competition for $785.5 million of state job-creating grants. The top four regions were deemed the most promising economic development projects throughout the state. In all, 720 projects chosen by regional leaders based on local strengths such as higher education and geography will be funded statewide.

The state is giving Central New York the largest grant award, $103.7 million; followed by the North Country region, including the Adirondacks, $103.2 million; Long Island, $101.6 million; and Western New York, $100.3 million.

Gov. Andrew Cuomo also announced he has reached an agreement with legislative leaders to do another round of competitive grants net year. He said the program aims to change the perception of New York.

“Make it a pro-business, business friendly state,” Gov. Cuomo said. “We know what you thought of us. It’s not true. And just watch.”

The balance of the economic development grants will be allocated as follows:

— The Finger Lakes region, $68.8 million;

— New York City, $66.2 million;

— The Mohawk Valley, $60.2 million;

— The Southern Tier, $49.4 million;

— The Capital Region, $62.7 million;

— The Mid-Hudson, $67 million.

Connect With Us:

You Might Like: