(Albany, NY) Funding Through Three Programs Will Help Small Manufacturers Modernize Operations; Support Capital Projects for Local Not-For-Profit Groups; and Enable Planning and Feasibility Studies
Full List of Awards Available Here
Empire State Development (ESD) today announced more than $11 million has been awarded to support over 100 economic development projects through three programs during Round XIV of the Regional Economic Development Council initiative. The funding awarded represents programs targeted for three specific economic areas: small manufacturing businesses, not-for-profits, and feasibility studies for future development projects. These programs are part of the state’s comprehensive approach to economic development through the REDC initiative, which utilizes a community-driven strategy to promote regional growth.
Empire State Development President, CEO and Commissioner Hope Knight said, “These Round XIV awards demonstrate how local priorities align with the state’s economic development goals. By leveraging state funding with other public and private investments, we are generating new and dynamic opportunities that supporting sustainable and equitable economic growth throughout New York State.”
Today’s announcement includes:
- Small Manufacturer Modernization Program: $5.9 million to 39 projects – The Small Manufacturer Modernization Grant Program awards funding to support existing New York State small manufacturers investing in capital projects that will improve competitiveness and productivity through modernization and integration of advanced technology. The program is designed to help increase the strength of these small manufacturers and safeguard jobs in New York State.
- Not-for-Profit Capital Grant Program: $4.3 million to 54 projects – The Not-for-Profit Capital Grant Program awards grants for capital improvement projects undertaken by not-for-profit organizations whose capital project will provide a community benefit to the area the organization serves. Priority is given to projects that align well with state and regional priorities, have a clear and detailed mission or purpose to serve their local community, and show a demonstrated need for services.
- Strategic Planning and Feasibility Studies: $943,000 to 14 projects – The Strategic Planning and Feasibility Studies Program awards working capital grants to support strategic development plans for cities, counties or municipalities, and for feasibility studies for sites or facilities assessment and planning. Projects help stimulate development of communities and urban areas. This program remains open, and applications are still being accepted through the state’s Consolidated Funding Application portal.
The REDC process continues to support and empower regional stakeholders in developing strategic plans and funding priorities that meet local economic needs. Awards from these programs will support projects that align with regional goals and strategies to further economic growth across the state. Applicants utilized New York’s Consolidated Funding Application, the state’s single application for state resources, which includes programs for numerous agencies. It is designed to provide expedited and streamlined access to a combined pool of grant funds and tax credits from dozens of existing programs. A full list of Round XIV awards that have been made to date can be found here.
About the Consolidated Funding Application
The Consolidated Funding Application was created to streamline and expedite the grant application process. The CFA process marks a fundamental shift in the way state resources are allocated, ensuring less bureaucracy and greater efficiency to fulfill local economic development needs. The CFA serves as the single-entry point for access to economic development funding, ensuring applicants no longer have to slowly navigate numerous agencies and sources without any mechanism for coordination. Now, economic development projects use the CFA as a support mechanism to access many state funding sources through one application, making the process quicker, easier, and more productive. Learn more about the CFA here.
About the Regional Economic Development Councils
The Regional Economic Development Council initiative is a key component of the State’s approach to State investment and economic development. In 2011, 10 Regional Councils were established to develop long-term strategic plans for economic growth for their regions. The Councils are public-private partnerships made up of local experts and stakeholders from business, academia, local government, and non-governmental organizations. The Regional Councils have redefined the way New York invests in jobs and economic growth by putting in place a community-based, bottom-up approach and establishing a competitive process for State resources. Learn more at regionalcouncils.ny.gov.
Contact:
ESD Press Office | pressoffice@esd.ny.gov | (800) 260-7313
