Governor Andrew M. Cuomo today kicked off a statewide Regional Economic Development Council (REDC) Progress tour in Syracuse, where he toured Central NY priority projects to see, firsthand, their progress and their economic impact in the region.
This is the first visit in the Governor's REDC Progress tour that is part of a review of last year's strategic economic development plans and job-creating projects.
Following these tours, the Central NY REDC provided a formal presentation outlining the progress they have made in advancing last year's strategic plans and projects, as well as their endorsed projects for the coming year to the Strategic Implementation Assessment Team at Syracuse University.
"New York no longer has a one size fits all approach to economic development, and now we are seeing the benefits of this new way of thinking throughout the state," Governor Cuomo said. "As you can see in the Syracuse area, the regional council has developed a plan that fits its region best and that plan is creating jobs, growing the economy and transforming neighborhoods."
"Last year, the Central NY REDC developed a strategy that will help grow our local economy and create quality jobs for our residents," said Regional Council Co-chairs Nancy Cantor, Chancellor & President of Syracuse University, and Robert Simpson, President of CenterState CEO. "Now, thanks to the leadership of Governor Cuomo, Lieutenant Governor Duffy, and the work of our Council members, we are turning that plan for economic growth into a reality by strengthening key industries, increasing our global competitiveness, and revitalizing our municipal cores."
The Governor visited the following sites:
CNY Biotech Accelerator
SUNY Upstate Medical University and SUNY ESF were awarded $1.95 million to develop a high-tech business accelerator that has the potential to create hundreds of jobs over the next five years. The regional council funding will be used toward to ensure the completion and equipping of lab space at the Accelerator.
COR Development was awarded $3.6 million to develop Loguen's Crossing, creating hundreds of temporary construction jobs and additional new, full-time jobs once the project is completed. The project will transform the former Kennedy Square housing complex that is adjacent to the new CNY Biotechnology Accelerator into a new mixed-use development providing office space for SUNY Upstate Medical University, as well new housing, retail and commercial space in downtown Syracuse.
Syracuse Center of Excellence - New York Energy Regional Innovation Cluster
The Syracuse Center of Excellence (CoE) was awarded $3 million to complete the New York Energy Regional Innovation Cluster (NYE-RIC) project and create nearly 50 jobs. NYE-RIC will develop innovations in products and services to dramatically reduce energy consumption in buildings across New York.
St. Joseph's Hospital Health Center
St. Joseph's Hospital Health Center was awarded $2.5 million to expand its facilities, creating 400 long-term construction jobs and 150 new, and permanent health care jobs. When completed, the project will result in a 200,000 square foot facility expansion, including the construction of a patient tower, medical and surgical intensive care units, a state-of-the-art surgical suite with operating rooms, and a central sterile and greenway corridor to North Side businesses.
Syracuse Inner Harbor
The City of Syracuse was awarded $3 million to support the development of the Inner Harbor Area, which has the potential to create thousands of construction jobs throughout the development phase, and hundreds of full-time jobs upon completion. The project includes the construction of a high-density, mixed-use development consistent with smart growth principles and continued public access to the water.
Merchants Commons was awarded $900,000 to renovate two existing vacant office buildings in downtown Syracuse and create at least 65 jobs. The project includes the renovation of the Merchants Bank Building and the Snow Buildings into market-rate apartments and commercial space.
"Governor Cuomo created Regional Councils to serve as the new approach our state needs to create new jobs and economic opportunities," said Lieutenant Governor Duffy. "Today is an exciting opportunity for an open discussion of the incredible progress Regional Councils are making in Central New York and across the state, as well the steps we are taking to build on that success for the coming year."
"Governor Cuomo's Regional Council initiative is taking New York from a state known as frustrater of business growth to a facilitator of new business and private sector job development," said Empire State Development President, CEO & Commissioner Kenneth Adams. Through its first year, we have seen job-creating projects in Central New York and across the state start to take shape and pay dividends in new jobs and economic activity to boost our local economies."
In the first round of the Regional Council initiative, the Central New York Region was awarded $103.7 million in state resources through the Consolidated Funding Application (CFA) process to support 74 projects. Currently, 68 of those projects have met the first performance milestone including the execution of contracts with the State, and 90 percent of the active projects are estimated to be finished by the end of 2014. These projects are growing and sustaining jobs in core industries, generating new construction that is improving the physical character of the region's communities, and advancing the Council's strategic plan.
The priority projects endorsed by the Central NY REDC will significantly boost the local economy by creating and retaining nearly 2,000 jobs and over 16,000 construction jobs, and leveraging over $200 million in private investment. The Council's progress report and full list of endorsed priority projects for 2012 can be found at http://regionalcouncils.ny.gov/content/central-new-york.
To learn more about each Regional Council and their economic development plans, visit www.regionalcouncils.ny.gov.