CNY Region Named Top Performer in State’s Competitive Regional Economic Development Council Process
Posted on December 1, 2015
Region awarded $80.2 million for 85 projects in round four
CNY REDC awarded more than any region over the past four years
Yesterday, Central New York was named a Top Performer in the state’s competitive Regional Economic Development Council (REDC) process, and awarded $80.2 million for 85 projects that will have a direct impact on the region. By demonstrating a best-in-class track record for leveraging investment, providing a strong ROI and successfully completing projects, the CNY REDC has now received $344.6 million over the past four years, more than any other region.
In the larger, 12-county CenterState region, 173 catalytic projects were awarded a total of more than $116.7 million this round.
While all of these projects will support the ongoing implementation of long-term growth strategies, two projects stand out for their potential to transform the economies and communities of the region.
The first is the Hotel Syracuse project, which received $3.65 million to support the historic property’s planned $60 million renovation. This investment will not only help restore one of Syracuse’s most iconic properties, it advances a keystone project that further accelerates downtown’s ongoing revitalization.
Additionally, the Northeast UAS Airspace Integration Research (NUAIR) Alliance was awarded $4 million to support the installation of state-of-the-art instrumentation for the tracking of unmanned aircraft systems (UAS) at Griffiss International Airport. This testing capability is the first of its kind at any UAS test site in the country, making Griffiss a strategic location for the emerging UAS industry. Additionally, this project is one of the first-cross regional projects to receive REDC funding through a joint submission by the Central New York and the Mohawk Valley Regional Economic Development Councils.
Members of the CNY REDC, including co-chairs, Kent Syverud, chancellor of Syracuse University and Robert Simpson, president of CenterState CEO, hundreds of community partners and CenterState CEO Members have been working to advance this important work.
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