ALBANY, N.Y. - Governor Andrew Cuomo kicked off the third round of competition for the Regional Economic Development Councils Wednesday, awarding a total of $760 million in state funding and tax incentives.
All ten regions of New York State will compete, developing plans to encourage economic growth and job creation. The top five performers will be awarded $25 million each, and the remaining regions will compete for another $25 million awarded to one of them.
There will also be $70 million awarded in tax credits, each region eligible for up to $10, million and $540 million will be up for grabs for state-supported programs.
Governor Cuomo praised the councils saying they've done an extraordinary job, with the first and second rounds of Economic Development Councils supporting more than 1,400 projects, creating or retaining 75,000 jobs, with $1.5 billion in investments.
"When we put people together and you put that energy in a room, it morphed and it changed, and it evolved and it grew dramatically," Cuomo said.
Applications are due on September 24th.