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Thursday 1 December 2022
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CNY Wins $500 Million from Upstate Revitalization Initiative

By Staff

 

CNYREDCThe Central New York region was named one of three regions to win $500 million from Gov. Andrew Cuomo’s Upstate New York Revitalization Initiative Dec. 10.

The Finger Lakes and the Southern Tier will also receive $500 million awards.

The three councils were in competition with seven other regions for the funds, which the state said it will allocate as $100 million per year, over a period of five years.

The Central New York Regional Economic Development Council won the award after submitting an application detailing how it would spend the funds.

According to the council, it plans to spend the money on six investments that would create nearly 6,000 jobs over the next five years, including investment in an unmanned aerial and ground systems research and development center, a global buy generic phentermine manufacturing and logistics hub, and a national veterans’ resource complex at Syracuse University.

CNYREDC co-chairs, Kent Syverud, chancellor of Syracuse University, and Robert Simpson, president of CenterState CEO, released the following statement regarding the award:

“This is an extraordinary moment in time for this region, Central New York is truly on the rise. Through this investment, we now have the opportunity to revolutionize our economic trajectory. Today’s award is a validation of our data-driven process, and affirms our belief that a community-created vision for transformational growth will have the greatest potential impact. …On behalf of the entire Central New York Regional Economic Development Council, we are grateful to Gov. Andrew Cuomo and the selection committee for this award.”

View the council’s full plan at https://www.ny.gov/sites/ny.gov/files/atoms/files/CNYREDC_URI_FinalPlan.pdf