Mid-Hudson Region Secures Nearly $66M in Regional Council Awards

John Jordan | December 26, 2019

New York State Governor Andrew Cuomo

ALBANY—The Mid-Hudson Regional Economic Development Council’s string of consecutive designations as a “Top Performer” in the annual Consolidated Funding Application program was halted at three years.

On Dec. 19, Gov. Andrew Cuomo announced that the Mid-Hudson was not among “Top Performers” for 2019, but would still receive $65.8 million that would support a total of 105 projects.

In 2018, the Mid-Hudson was named a “Top Performer” and secured $87.1 million in state CFA funding.

The 10 regional economic development councils will receive a total of $761 million in economic funding through the CFA program.

The Mid-Hudson Regional Economic Development Council had won Top Performer status five times and in three consecutive years (2016, 2017 and now 2018). It also earned Top Performer status in 2012 and 2014.

The 2019 funding breakdown included Central New York, Southern Tier, Mohawk Valley, Capital Region and Long Island being named “Top Performers” and were awarded a total of $429.8 million. The Western NY, Finger Lakes, North Country, Mid-Hudson and New York City regions were bestowed a total of $331.7 million as regional awardees.

The Southern Tier received the most CFA funding at $88.9 million, followed by Long Island with an award of $87.9 million.

“Throughout the Regional Economic Development Council process over the past nine years, we have seen unprecedented regional investment focusing on a ground-up, strategic model that has spurred tremendous growth in every corner of this great state,” Gov. Andrew Cuomo said. “By bringing together local leaders and stakeholders who are invested in their communities we have replaced the ‘one size fits all’ approach to economic development with one that is unique to each community, creating opportunities for success all across the Empire State.”

Some of the major projects in the Mid-Hudson that will receive CFA funding assistance include the expansion and renovation of the Instrumentation Laboratory Building in Rockland County. Instrumentation Laboratory will receive more than $2.9 million from Empire State Development to undertake an expansion of its Manufacturing and Technology Center in Orangeburg. The expansion will increase the size of the building by 30%, facilitating increases to the manufacturing, research and development, and administrative functions needed to support growth in the medical device industry, state officials said.

Another project of note is the expansion of SeeQC, Inc.’s facilities in Elmsford, which will receive $600,000 from Empire State Development. The project calls for the expansion of the firm’s advanced chip manufacturing and testing infrastructure and facilities in order to produce qubits, the basic elements of a quantum computer, for the purposes of building application specific quantum systems.

Spectrum Designs of White Plains will receive $240,000 from Empire State Development to lease and renovate a 10,000-square-foot multi-use commercial property located in the City of White Plains. This project will provide employment opportunities and vocational education for people with developmental disabilities.

The New York City Regional Council was awarded $66.3 million that will support a total of 109 projects.

The Universal Hip Hop Museum in the Bronx will receive $3.75 million from Empire State Development to build a state-of-the-art cultural arts institution and the first museum in the world dedicated to the preservation and celebration of hip-hop history and culture. The UHHM will attract worldwide visitors, and further development on the underutilized Bronx/Harlem River waterfront, state officials said.

TARA Biosystems, Inc. will receive more than $1.2 million to expand its office and lab space at the Alexandria Center for Life Science, purchase specialized equipment, and create jobs. Consequently, it will support the growth of the Alexandria Center as a biotech hub in New York City. TARA Biosystems has developed a proprietary platform of cardiac tissue models, allowing pharmaceutical companies to screen their medications under development for potential cardiovascular benefits and risks.

New Lab will receive $1million from Empire State Development to expand its current operations in the Brooklyn Navy Yard.

Since its inception in 2011, more than $6.9 billion has been awarded to more than 8,300 projects statewide that are projected to create and retain more than 240,000 jobs through the REDC process.

John Jordan
Editor, Real Estate In-Depth