In July 2011 New York Governor Andrew Cuomo, under the motto “New York Open for Business,” announced the formation of 10 Regional Economic Development Councils (REDC) which would compete for shares – in the hundreds of millions – of state funding.  The core focus of this initiative is to implement region-specific opportunities for business growth and development which will not only fuel the creation of jobs for the Empire State, but renovate the overall image of New York as a vital, dynamic center for economic opportunity and growth of commerce.

On December 8 Governor Cuomo announced the awarding of $785 million in state funding through the REDC initiative.  A reversal of traditional state management, Governor Cuomo’s approach is being touted as “bottom-up” as opposed to “top-down,” wherein specific areas are given the opportunity to assess what best serves their individual communities. New York State encompasses a diverse blend of geographical space and demographics; what’s good for one part of the State might not be as beneficial for another.  This is where the REDC were able to unite business people, local government officials, community organizers, educators – public-private partnerships – to collaborate, discuss and strategize what would best stimulate their local economies in order to create jobs and financial stability for the areas.

The ten Regional Councils amongst the State were divided as follows:

• North Country: The northernmost portion of the State, with an economy centered around manufacturing, mining and agriculture
• Mohawk Valley: Directly south of the North Country Region, situated along the Erie Canal, within 100 miles of major markets in every direction
• Capital District: Home to the State Capital at Albany, this area is becoming increasingly well-known for high-tech job growth
• Central New York: To the west of Mohawk Valley, housing Syracuse, the fifth most populous city in the State
• Finger Lakes: To the west of the Central NY region, and home to Rochester, the third largest city in the State
• Western New York: The westernmost portion of the State, there are industrial, light manufacturing, technology, agriculture and service-oriented businesses in this area’s economy
• Southern Tier: Centrally-located at the southern border of the State, companies IBM and Dick’s Sporting Goods were started here
• Mid-Hudson: Bordering NYC, Connecticut, Pennsylvania and New Jersey and home to over 30 colleges and universities, there is a highly-educated labor force at the core of this region
• New York City: The largest city in the nation and one of the ten largest in the world
• Long Island: A sea-surrounded area with densely populated cities and suburbs

Some of the regional projects and plans that were awarded special funding were:

• Western New York: $4 million to connect five downtown Buffalo districts with multi-modal transportation corridors
• Southern Tier: $4.8 million to the Southern Tier Community Revitalization Project to finance private sector redevelopment of key buildings – especially those ravaged by recent storms
• Capital Region: $3.8 million to expand Albany International Airport’s capacity to serve larger aircraft
• New York City: $29.5 million to transform the Hunts Point Produce Market – housing the South Bronx, this will create a modern food distribution facility in one of the poorest communities in the State

Listed above are several of the individual communities awarded specific monetary amounts for renovation, development and expansion of existing frameworks. With so many region-specific plans implemented, and awarded, New York is not only “open for business,” but well on its way to reestablish itself as a center of manufacturing, technological and commercial opportunity.

Author: Stacia Argoudelis

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