Governor Kathy Hochul today announced the launch of the twelfth round of the Regional Economic Development Councils initiative. Cycle XII includes base capital grant and tax credit funding to be combined with a wide range of programs from 10 state agencies that will provide funding for potential projects. As with Round XI, $150 million in grants from Empire State Development will be available for projects on an ongoing basis, to meet immediate community needs.
“Regional economic development councils have transformed communities across the state, and we will continue to support impactful projects that align with each region’s strategic goals,” Governor Hochul said. “Through Round XII, we are addressing one of the greatest challenges – and opportunities – to our state’s economic development strategy by helping New Yorkers develop the skills they need to succeed today. and in the future.REDCs will identify strategies to ensure employers in growing industries have access to the skilled labor they need to compete, contributing to a more prosperous New York. for everyone.”
This year, regional economic development councils will prioritize workforce development, with a focus on developing and funding job training and job placement programs that meet current and future talent needs. employers in the state and in each region. As part of this focus on equitable growth, each regional council will work with ESD and the new Office of Strategic Workforce Development to create a bespoke regional strategy identifying specific jobs and skills that employers need in this part of the state. Regional Councils and ESD will then seek to fund programs that help workers meet these specific needs.
Under Governor Hochul’s leadership, the state is continually improving the Regional Council process to maximize impact in each region. This includes measures to promote transparency, streamline the work of REDCs and focus on talent as a pillar of equitable economic growth.
Regional Workforce Inventory
Earlier this year, Governor Hochul created a new Office of Strategic Workforce and Economic Development within ESD. The Bureau’s goal is to leverage ESD’s expertise in working with New York State businesses to inform the design of workforce training and placement programs. The Office’s mission is to help New Yorkers gain the skills and opportunities needed to succeed in growing fields. By ensuring that employers in these industries have access to a skilled, high-quality workforce, New York will improve its competitive position and help its people access greater opportunities for prosperity.
The Office will utilize the expertise of regional councils, which have local knowledge of workforce needs, trends and opportunities. Regional councils will create a “Regional Workforce Inventory” to identify each region’s post-pandemic workforce needs. This will serve as a guide when ESD and Regional Councils consider applications for new grant programs that will be offered later this year.
To inform this effort, New York State – in partnership with the Business Council of New York State – developed a comprehensive online survey to solicit critical feedback from businesses on the skills needed for workers to succeed in the economy. today’s complex world, and how New York can prepare and position its workforce to better meet business needs. This demand-driven approach will ensure that New York has access to real-time information about in-demand jobs and skills to inform its statewide and regional workforce development efforts. region.
Consolidated funding request
Regional Councils will score projects submitted through the Consolidated Funding Request (CFA), which is the state’s single request for state resources and includes programs from many agencies. It is designed to give project applicants quick and easy access to a combined pool of grants and tax credits from dozens of existing programs. Regional councils will review projects and provide ratings that reflect how well a project aligns with a region’s goals and strategies.
To guide regional councils in these efforts, ESD has prepared its annual guide for REDC members.
The 2022 REDC guide and a list of additional resources available to REDC members can be accessed here. The CFA is available here; the deadline for applications is Friday, July 29 at 4 p.m. Open enrollment programs are skipped by the July 29 deadline and will continue to accept applications until funds are exhausted.
The REDC process continues to support and empower regional stakeholders in developing strategic plans and funding priorities that respond to local economic needs. To date, through the REDC initiative, more than $7.5 billion has been granted to more than 9,200 job creation and community development projects in accordance with each region’s strategic plan.