Reprinted from CenterState CEO November 1, 2012 newsletter. 

Among the projects recommended at the regional level is round two of the Connective Corridor facade improvement grant program.

The CNY Regional Economic Development Council awaits word on its Strategic Plan Update. A decision is expected in December on 34 priority projects recommended for Round 2 funding.

Ninety-six percent of the 74 projects awarded $103.7 million in funding last year have started or are under way. If funded, the Round 2 priority projects would leverage more than $33 million in state funding to generate over $359.6 million in total investments (project capital costs and five-year payroll), retain and create 1,624 jobs, and produce a return on investment of 10.79.

Last month, the Central New York Regional Economic Development Council (CNY REDC) co-chairs Robert Simpson and Syracuse University Chancellor Nancy Cantor hosted Governor Andrew Cuomo and a delegation of state officials for a tour of projects awarded state funding last year, as well as various projects recommended by the Council for funding in the second round.

Governor Cuomo visits the CNY Biotech Accelerator, awarded $2 million last year through the CNY REDC process to assist the $23 million project, and received a product demonstration by future tenant and CenterState CEO member, Rapid Cure Technologies.

The tour included stops at four catalytic sites: the CNY Biotech Accelerator, the Syracuse Inner Harbor, St. Joseph’s Hospital Health Center, and downtown Syracuse. It also highlighted more than 30 additional public and private projects contributing to over $1.4 billion in capital investments underway in the city. These investments anchor the region’s strategic approach to economic and community development that is driving change and growth across the five-county Central New York region (Cayuga, Cortland, Madison, Onondaga and Oswego counties).

The tour was part of the state’s assessment process for determining how the next round of economic development funding will be allocated to the 10 regional councils across the state.

“Part of the decision-making is how well they did in executing last year. What progress did you make?” said Cuomo. Speaking on what he saw in Syracuse, the Governor stated, “Cranes are in the air. It means you are building, it means you are developing, it means you are moving forward.”

Following the tour, Simpson and Cantor made a formal presentation to the Regional Council Strategic Implementation Assessment Team on progress made in executing elements of its strategic plan developed last fall, and provided an overview of the potential economic impact of the top 34 plans proposed for Round 2 funding.

To read the CNY REDC year-one assessment report, presentation and tour guide visit: http://regionalcouncils.ny.gov/content/central-new-york.