Wed November 6, 2013
Regional Economic Council Releases Progress Report
The Central new York Regional Economic Development Council (CNYREDC) held a presentation at the SUNY College of Environmental Science and Forestry Wednesday detailing the progress it has made in creating jobs and ensuring economic development in the area. The presentation was held in preparation for a request of $31 million in funding, the Council's third round of sponsorship from the state government.
Council Chairman Rob Simpson said during the meeting, "The reality is that we are doing everything in our power not only to rebuild our downtown, but also to use the neighborhoods around our downtown for inside-out redevelopment strategy." Simpson discussed the West Side's revitalization, anchored by the present of Saint Joseph's Hospital, and the development around the University Hill and Logan's Crossing, which is helped along by the Center of Excellence. Still, though, he says there's still work to be done in at least one other major area:
ESF President Dr. Cornelius B. Murphy, Jr. highlighted the example of Stickley, Inc. a Manlius furniture warehouse. Murphy said that the company wants to spend $3.8 million to expand its factory, which would enable it to develop a new line of furniture:
Through the Council, the company is requesting $764,000 through the council's funding system, and also for $670,000 in tax credits to complete the expansion. They say this will result in the creation of 50 new jobs, and will also save 60 jobs for the long term.
In 2012, the CNYREDC submitted one of four "best plans" throughout New York in the competition for the largest portion of state funding. This year, a total of $220 million is up for grabs in the competition to implement regional strategies and priorities. Funding awards will be decided in mid-December.