In a much hyped award ceremony at The Egg, New York Gov. Andrew M. Cuomo handed out a whopping $785.5 million for 720 economic development project funding proposals submitted by the state’s 10 regional economic development councils.
The highlight of the event, headlined by CNBC’s Maria Bartiromo and packed with over 1000 attendees, was the best plan contest to decide which four of the 10 regional councils would get $40 million more under the CFA process (background).
The best plan awardees were Central NY, North Country, Long Island and Western NY. Here’s the breakup of the $785.5 million among the 10 regional councils.
Photo credit - Office of the Governor, NY
Central NY – $103.7 million
North Country – $103.2 million
Long Island – $101.6 million
Western NY – $100.3 million
Finger Lakes – $68.8 million
Mid-Hudson – $67 million
NYC – $66.2 million
Capital Region – $62.2 million
Mohawk Valley – $60.2 million
Southern Tier – $49.4 million
After being introduced by Bartiromo, Gov. Cuomo told attendees that, “NY is open for business and that’s what we’ve been all about this year.”
In an op-ed last week, he called for another funding round for the 10 regional councils, and said during his speech that legislators have agreed to his proposal.
Gov. Cuomo and the NY legislature also announced this week an agreement to create New York’s first infrastructure fund. It will inject over $1 billion in job creating investment, and the accelerated state funding will leverage $10 billion in direct capital investment in infrastructure projects.
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