More than $463 million has been allocated across New York State through the Regional Economic Development Council (REDC) initiative, Governor Kathy Hochul announced. The funding includes awards from the inaugural $150 million Advancing Collaboration for High-impact Initiatives for Economic Visions & Expansion (ACHIEVE) competition and over $300 million distributed to nearly 400 projects statewide through annual REDC programs.
Long Island, the Mohawk Valley, New York City, and the Southern Tier were selected as winners of the ACHIEVE competition. Each region developed proposals for high-impact economic development projects and received a share of the $150 million based on their plans’ strengths. The Strategic Implementation Assessment Team, made up of members of the Governor’s Cabinet, reviewed these proposals.
The Long Island Regional Commercialization Corridor proposal was awarded $30 million to establish a corridor focused on “hard-tech” commercialization, aiming to leverage regional manufacturing expertise and support sectors such as advanced materials and clean energy.
The Mohawk Valley’s Rooted In The Mohawk Valley proposal received $32 million for a six-county plan centered on tourism and agribusiness. Anchor investments include Empire State Greenhouses and Hoshino Mineral Spa Resort, with more than 50 supporting projects intended to foster rural resilience and community reinvestment.
New York City’s Breakthrough Initiative was awarded $50 million to promote mixed-use redevelopment in underutilized industrial areas. The initiative seeks to address housing affordability by integrating residential, commercial, and industrial uses while creating jobs and providing career training.
The Southern Tier’s SouthWorks project received $38 million for an adaptive reuse effort in Ithaca at the former Morse Chain Factory site. Plans include mixed-income housing, an innovation hub for start-ups in advanced manufacturing and biotech, workforce development facilities with childcare services, and amenities tailored to local needs.
In addition to ACHIEVE awards, more than $313 million is being distributed through the 2025 REDC initiative to support 381 projects statewide. This includes over $60 million from the Regional Council Capital Fund for strategic regional plans and $100 million from the Pro-Housing Supply Fund aimed at infrastructure improvements that facilitate new housing developments. These infrastructure upgrades are expected to unlock affordable housing opportunities and attract private investment.
Specific regional allocations include:
– Over $45.2 million for the Capital Region supporting 52 projects.
– Nearly $26.2 million for Central New York supporting 34 projects.
– $42.6 million for the Finger Lakes supporting 48 projects.
– More than $26.4 million each for Long Island and the Southern Tier.
– More than $53.1 million for the Mid-Hudson Region.
– $23.4 million for the Mohawk Valley.
– $29.5 million for New York City.
– Nearly $12.4 million for North Country.
– $28.5 million for Western New York.
Projects funded range from infrastructure improvements enabling new housing units in Hudson Housing Authority developments to renovations expanding childcare capacity in Bridgehampton Child Care Center.
Governor Hochul said: “I remain grateful for everyone involved in advancing the work of the Regional Economic Development Councils. Their dedication to this ongoing public-private effort has had a transformational impact in every corner of the state. Congratulations to four regions, named the inaugural winners of the ACHIEVE competition. The focused investments laid out in the locally designed plans will create investment opportunities that will help to build an enduring and successful future for all New Yorkers.”
New York State Secretary of State and REDC Chair Walter T. Mosley stated: “I want to congratulate all the dedicated individuals who worked so hard in helping promote, shape and drive sustainable economic development in our communities… And now with Governor Hochul’s new ACHIEVE initiative, large scale transformational projects are serious game changers for our winning regions.”
Empire State Development President Hope Knight added: “Under Governor Hochul’s leadership, New York’s regional approach to economic development continues to create jobs and leverage private investments… The additional $150 million in funding awarded to four regions through the ACHIEVE competition will help to jumpstart dynamic, transformational projects that align with strategies created by local stakeholders.”
New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said: “Through the new $100 million Pro-Housing Supply Fund, we’re helping localities modernize critical infrastructure — upgrading water, sewer, and electric systems — to support 6,000 homes… This is about more than housing — it’s about building vibrant, sustainable neighborhoods that will thrive for generations.”
Since its inception, more than $8 billion has been awarded through REDC initiatives supporting over 10,000 job creation and community development projects aligned with regional strategic plans.
A full list of awardees can be found at https://regionalcouncils.ny.gov/.
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