The Central New York (CNY), Southern Tier, and Finger Lakes regions have won $500 million each in Gov. Andrew Cuomo’s $1.5 billion Upstate Revitalization Initiative (URI) contest that seeks to boost job growth Upstate.
The winning regions — which include the Syracuse, Binghamton, and Rochester metro areas, respectively — will each receive installments of about $100 million per year for five years to fund key economic-development projects.
The state announced the winners in Albany on Thursday morning. The event combined the announcements of awards in the URI and for the various regional economic development councils (REDCs).
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BJNN monitored the event online at Gov. Cuomo’s website.
Various media outlets and politicians have referred to the URI competition as Upstate’s “Hunger Games,” in reference to the popular book and film series involving children competing in an annual, televised death match.
The CNY REDC titled its contest submission, “CNY Rising,” which seeks to create nearly 6,000 new jobs, according to a CNY REDC news release issued Oct. 6.
The Central New York region includes Onondaga, Oswego, Madison, Cayuga, and Cortland counties.
The Central New York REDC is “grateful” for the funding award, Robert Simpson and Kent Syverud, co-chairs of the CNY REDC, said in a statement that CenterState CEO issued Thursday afternoon. Simpson is the president and CEO of CenterState CEO and Syverud is the Chancellor of Syracuse University.
“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 validation of our data-driven process, and affirms our belief that a community-created vision for transformational growth will have the greatest potential impact,” Simpson and Syverud said in the joint statement.
The proposal focuses on six investments that the council projects will help “capture” market opportunities. It also contends the investments will “transform the regional economy by creating thousands of new jobs and fostering hundreds of millions of dollars of inward investment,” according to its news release.
The six CNY investments are the Global Center for Unmanned Systems and Cross-Connected Platforms, “New York Grown, New York Certified — Safe and Market-Ready,” Global Manufacturing and Logistics Hub, National Veteran’s Resource Complex, Consensus Commission on Government Modernization, and Alliance for Economic Inclusion, according to the CNY Rising proposal on the New York Governor’s website.
In the first year of implementation, the investments will leverage nearly $890 million in private investment and a total, five-year payroll of nearly $766 million, “for a more than 16 to 1 return” on New York’s investment, the CNY REDC contends.
The grant funding represents an “unprecedented opportunity for our region,” New York State Assemblyman Al Stirpe (D–Cicero) said in a statement issued Thursday afternoon.
“This funding will invest in the future of our local businesses by making it easier for them to bring their products to international markets through the establishment of an inland port that utilizes rail travel, rather than trucks. The plan also includes projects that will support veterans, consolidate and modernize government, and create new opportunities for the thousands of Central New York residents that currently live at or near the poverty line,” said Stirpe.
Syracuse Mayor Stephanie Miner called the $500 million award an “accomplishment for our region.”
“This funding has the potential to impact many projects throughout Central New York. I thank and congratulate our regional economic-development council co-chairs, Rob Simpson and Chancellor Kent Syverud, and all those who worked on our region’s proposal serving on subcommittees, devoting their time and effort to this project,” Miner said in a statement.
Southern Tier
The Southern Tier REDC is “thrilled and incredibly excited” with its victory in the URI competition, Kevin McLaughlin, council member, said in a statement issued Thursday afternoon. McLaughlin is also executive director of the Agency Broome County industrial development agency and local development corporation (IDA/LDC).
“We felt confident that we had developed a strong plan because of the countless collaborative discussions throughout the region. Our plan will build upon our strengths in advanced manufacturing and agriculture, and will infuse significant investment in Broome County’s urban core. With this award, we are going to bring about transformative change to the physical and economic landscape in our region. This award marks the beginning of a new era in the Southern Tier and we can’t wait to get started,” McLaughlin said.
The Southern Tier region includes Broome, Chemung, Chenango, Delaware, Schuyler, Steuben, Tioga, and Tompkins counties.
Harvey Stenger, president of Binghamton University and co-chair of the Southern Tier REDC, also hailed the win. “This is a historic day for Upstate New York. Years from now people will look at this win as the point when the Tier began its comeback,” he tweeted.
The Southern Tier plan targets advanced manufacturing, the food and agriculture industry, and promoting the region’s “innovative culture.”
The Southern Tier has been a “top performer” in 2012, 2013, and 2014 in the REDC funding announcements, according to a Southern Tier video shown at the event in Albany.
The region used more than $303 million in REDC dollars to support 298 projects across the area, and 87 percent of those are completed or on their way, according to the video.
The projects have included Corning’s heavy-duty diesel truck facility in 2012, Elmira College’s health-care training center in 2013, and the improvements at Watkins Glen International racetrack in 2014.
The five upstate regions that lost out in the Upstate Revitalization Initiative contest were the Capital District, Mid-Hudson, Mohawk Valley, North Country, and Western New York. However, each of those regions will receive REDC awards of between $84 million and $100 million.
Contact Reinhardt at ereinhardt@cnybj.com