REPRINTED FROM A LETTER FROM ANDREW CUOMO
In the last three years, we have put New York’s fiscal house in order by controlling spending and cutting taxes — and the global business community has taken notice. We are transforming New York State into a top destination for companies from around the world to locate, invest, and grow with initiatives like START-UP NY to provide tax-free areas and support to businesses.
The Regional Economic Development Councils are another key part of moving New York forward and creating jobs in every part of our state. For the third year running, councils made of up local leaders from every corner of our state put forward innovative economic development projects from their region.
The Regional Councils were empowered to change the face of economic development in their communities and the result has been better than we could have ever imagined: we are creating new technologies, building hospitals, and supporting innovation that will dictate the future of our economic growth.
Today, Governor Cuomo announced that $750 million has been awarded through Round Three of the Regional Economic Development initiative to help fund 824 projects throughout the state.
The Mid-Hudson Region was awarded $59.6 million in REDC funding. Highlights of projects include:
- $500,000 to support infrastructure improvements at Castagna Commerce Park – a planned mixed use multi-phased development that will consist of 167,000 square feet of medical office and office space, 200,000 square feet of retail space, and 400 units of senior housing and assisted living facilities. To learn more about the REDC awards, click here. To learn more about the REDC initiative, click here.
This third round of Regional Economic Development Council awards continues the state’s commitment to these creative and groundbreaking plans, while recognizing the immense progress that has already been made in revitalizing our economy and putting New Yorkers back to work.
New York is rising once again.
The Office of the Governor