State awards REDC capital funding and tax credits for shovel-ready projects

The governor highlighted several projects from this round of funding including:

Lowville Producers Dairy Cooperative, Inc., which received a $1.3 million ESD grant and a $500,000 Excelsior Jobs tax credit to purchase, renovate, and operate the Queensboro dairy-processing plant in Canastota. The $6.6 million project will create 16 new jobs.

Stark Truss Company, Inc., which received a $100,000 ESD grant and a $200,000 tax credit to build a new manufacturing facility in Griffiss Business and Technology Park in Rome. The wood-components manufacturer and supplier will create 13 new jobs with the $2.3 million project.

The Treehouse Hourly Child Care, LLC, which received a $170,000 ESD grant to purchase and renovate a building to expand its daycare services in Watertown. The project total is $850,000.

The full list of funding recipients for this round is available online at https://regionalcouncils.ny.gov/sites/default/files/2022-11/REDC_Round_12_Award_Bookelt.pdf.

To date, the REDC initiative has awarded more than $7.8 billion to projects that created more than 9,600 new jobs.

The application for ESD grant funds remains open with applications reviewed on an ongoing basis.

Applicants with shovel-ready projects that align with the state and their region’s economic-development priorities can apply through the consolidated funding application online at apps.cio.ny.gov/apps/cfa/.

The state’s 10 regional councils are public-private partnerships made up of local experts and stakeholders from business, academic, local government, and non-government organizations.