On Dec. 11, Central New York has named a top performer in the state’s competitive Regional Economic Development Council (REDC) process, and awarded $80.2 million for 85 projects that will have a direct impact on our region. By demonstrating a best-in-class track record for leveraging investment, providing a strong return on investment, and successfully completing […]
On Dec. 11, Central New York has named a top performer in the state’s competitive Regional Economic Development Council (REDC) process, and awarded $80.2 million for 85 projects that will have a direct impact on our region.
By demonstrating a best-in-class track record for leveraging investment, providing a strong return on investment, and successfully completing projects, the CNY REDC has now received $344.6 million over the past four years, more than any other region.
In the larger, 12-county CenterState region, 173 catalytic projects were awarded a total of more than $116.7 million this round.
While all of these projects will support the ongoing implementation of our long-term growth strategies, two projects stand out for their potential to transform the economies and communities of our region.
The first is the Hotel Syracuse project, which received $3.65 million to support the historic property’s planned $60 million renovation. This investment will not only help restore one of Syracuse’s most iconic properties, but it also advances a keystone project that further accelerates downtown’s ongoing revitalization.
Additionally, the Northeast UAS Airspace Integration Research (NUAIR) Alliance was awarded $4 million to support the installation of state-of-the-art instrumentation for the tracking of unmanned-aircraft systems (UAS) at Griffiss International Airport in Rome. This testing capability is the first of its kind at any UAS test site in the country, making Griffiss a strategic location for the emerging UAS industry. Additionally, this project is one of the first cross-regional projects to receive REDC funding through a joint submission by the Central New York and the Mohawk Valley Regional Economic Development Councils.
I want to thank the members of CNY REDC, particularly my co-chair, Syracuse University Chancellor Kent Syverud and the hundreds of community partners and CenterState CEO members working alongside us to advance this important work. Our success hinges on our entire community working toward a common vision of economic opportunity for all.
Robert M. Simpson is president and CEO of CenterState CEO, the primary economic-development organization for Central New York. This editorial is drawn and edited from the “CEO Focus” email newsletter the organization sent out on Dec. 12.