{"id":18586,"date":"2016-01-08T19:09:25","date_gmt":"2016-01-09T00:09:25","guid":{"rendered":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2016\/01\/capital-region-loses-on-500m-development-prize-but-saratoga-projects-get-21m-in-aid.html"},"modified":"2017-11-08T13:46:23","modified_gmt":"2017-11-08T18:46:23","slug":"capital-region-loses-on-500m-development-prize-but-saratoga-projects-get-21m-in-aid","status":"publish","type":"post","link":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2016\/01\/capital-region-loses-on-500m-development-prize-but-saratoga-projects-get-21m-in-aid\/","title":{"rendered":"Capital Region Loses On $500M Development Prize, But Saratoga Projects Get $2.1M In Aid"},"content":{"rendered":"
\n
\n\"development\n<\/div>\n
\n

This bell is part of the historic Universal Preservation Hall building being renovated into a
\nperformance venue. The facility is getting a state grant to hire a director to oversee the restoration.\n<\/p><\/div>\n<\/div>\n

The Capital Region economic sector, which
\nincludes Saratoga County, was not selected in December
\nas one of the three winners of the Upstate
\nRevitalization Initiative, a $1.5 billion, five-year
\neconomic development competition that would
\nhave brought $500 million in state funds to the
\nregion for various projects.<\/p>\n

But the Capital Region received $98.1 million
\nin aid for projects this year, of which about $2.1
\nmillion is specifically earmarked for projects in
\nSaratoga County.<\/p>\n

The winning regions in the competition were
\nthe Finger Lakes, the Southern Tier and Central
\nNew York.<\/p>\n

However on Dec. 10, Gov. Andrew Cuomo
\nannounced the awarding of $2.25 billion in
\neconomic and community development funding
\nthrough Round V of the Regional Economic
\nDevelopment Council initiative and the Upstate
\nRevitalization Initiative.<\/p>\n


\n“Over the past five years, the Regional Councils
\nhave become an integral part of generating economic
\nopportunity in communities statewide,”
\nsaid Cuomo. “By removing barriers to growth,
\ncontrolling spending and cutting taxes, we have
\nlaid the groundwork for our Regional Councils
\nto pursue projects in key industries that have
\nturned their communities into local economic
\nengines. This year’s round of awards demonstrates
\nthe progress that has been made in changing the
\ntrajectory of our economy and continues our
\ncommitment to investing in the future of New
\nYork state.”<\/p>\n

The Regional Councils were established in 2011
\nto transform the state’s approach to economic
\ndevelopment from a top-down model to one that
\nis community-based and performance-driven.
\nThe initiative empowers community, business,
\nand academic leaders, as well as members of
\nthe public in each region of New York state, to
\ndevelop strategic plans specifically tailored to
\ntheir region’s unique strengths and resources in
\norder to create jobs, improve quality of life and
\ngrow the economy.<\/p>\n

This year, the 10 councils once again competed
\nfor funding and assistance from up to $750 million
\nin state economic development resources
\nas part of Round V of the REDC competition.
\nAdditionally, a new competition, the Upstate
\nRevitalization Initiative, awarded $1.5 billion to
\nthree regions, which will help to transform local
\neconomies by providing $500 million over the
\nnext five years to support projects and strategies
\nthat create jobs, strengthen and diversify
\neconomies, and generate economic opportunity
\nwithin the region.<\/p>\n

Lt. Gov. Kathy Hochul, chairwoman of the
\nRegional Economic Development Councils, said.
\n“I have watched how Regional Councils have
\nhelped communities put their best ideas into
\naction. Economic development is more than just
\ndollars and cents. It’s about restoring hope and
\noptimism to communities yearning for a brighter
\nfuture. This year, there are no losers. Non-winning
\nregions this year will receive more funding than
\ntop performing regions last year. ”<\/p>\n

Since 2011, the Regional Council process has
\nawarded nearly $3 billion to more than 3,100 job
\ncreation and community development projects
\nacross the state, supporting the creation or retention
\nof more than 150,000 jobs, according to
\nstate officials.<\/p>\n

The Capital Region was awarded $98.1 million
\nsupporting 114 projects for this year. The
\ngovernor’s office said in a statement that as the
\nCapital Region transformed into a global center
\nfor nanotechnology research, development and
\nmanufacturing, downtowns in communities
\nacross the region are experiencing revitalization
\nand a growing tourism industry.<\/p>\n

This year, the REDC focused on projects and
\nstrategies that have the potential to add 40,000
\nmore jobs to the local economy, attract and retain
\n10,000 new residents, employ 4,500 residents who
\nare currently unemployed, and lift 20,000 local
\nresidents out of poverty, according to the governor.<\/p>\n

The Capital Region’s URI Plan focused on five
\nstrategic initiatives:<\/p>\n

Next-Tech: capturing next-growth horizons;
\nGateway: connecting markets and businesses; Talent:
\nbuilding the workforce of today and tomorrow;
\nLift-off: accelerating ideas, entrepreneurs,
\nand businesses; and Metro: building vibrant cities
\nfor businesses and families.<\/p>\n

The Saratoga County projects that received
\nawards were:<\/p>\n

\u00e2\u20ac\u00a2 Universal Preservation Hall in Saratoga
\nSprings, $49,500. The hall will hire a full-time
\nexecutive director to oversee the restoration of
\nthe facility and grow the organization’s fundraising
\ncapacity.<\/p>\n

The organization also received $800,000 to
\nfund a partnership with Proctors in Schenectady
\nto finish restoration of the historic property into
\na performance venue.<\/p>\n

\u00e2\u20ac\u00a2 The Saratoga Rowing Association received
\n$35,000 to upgrade the Saratoga Regatta Spectator
\nExperience by making significant improvements
\nto how spectators are able to view the regatta.
\nImprovements include adding the use of drones,
\nlarge screens, bleachers, a pavilion, and land and
\nfacility upgrades to stay competitive with other
\nout of state regatta venues. Saratoga Rowing Association
\nalso will use a bus to provide shuttle
\nservice to downtown Saratoga Springs aiming
\nto increase attendance, provide a significant
\neconomic impact on local industries, and make
\nSaratoga a premiere regatta destination.<\/p>\n

\u00e2\u20ac\u00a2 Town of Halfmoon, Crescent Park Boat
\nLaunch Project, $100,000. This project will install
\na car-top boat launch at Crescent Park on Terminal
\nRoad in Halfmoon.<\/p>\n

\u00e2\u20ac\u00a2 Halfmoon Waterfront Connection Project,
\n$90,795. Halfmoon will complete final designs
\nand construct a 10-foot wide multi-use pedestrian
\ntrail crossing of a Canadian Pacific Railwayowned
\nrail line. This project will enable completion
\nof the Environmental Protection Fund Local
\nWaterfront Revitalization Program-funded trail
\nthat will connect Lighthouse Park on Halfmoon’s
\nHudson River waterfront with the Champlain
\nCanalway Trail.<\/p>\n

\u00e2\u20ac\u00a2 Stillwater Route 9P Corridor Revitalization
\nPlan, $50,000. The town will undertake a revitalization
\nplanning study aimed at improving accessibility
\nand safety along Saratoga Lake’s Route
\n9P corridor and enhancing economic vitality and
\nquality of life. The study will incorporate design
\nplans for Brown’s Beach Community Center, a
\ntourism information center, public restroom and
\nconcession facility, and a multi-use trail. Examination
\nof water, sewer and storm water infrastructure
\nwill be included to plan for corridor growth
\nand development.<\/p>\n

\u00e2\u20ac\u00a2 Mohawk Gateway Streetscape Project,
\n$370,000. The Town of Waterford, in partnership
\nwith the Village of Waterford and the Waterford
\nHistorical Museum, will implement the Town\/
\nVillage Local Waterfront Revitalization Program
\nby improving the southern gateway corridor and
\nNorthside Historic District. The projects will include
\ndesign and construction of signs, sidewalks,
\nstreet trees, landscaping, lighting, furniture and
\ngreen space; road repairs to facilitate park and
\nmuseum access; and a museum enhancement
\nfeasibility study.<\/p>\n

\u00e2\u20ac\u00a2 Village of Corinth Sewer System Improvement
\nProject, $600,000. Funds will be used to
\nreplace sanitary sewer lines along Main Street, and
\nto replace the existing River Street pump station,
\nlocated adjacent to the Hudson River.<\/p>\n","protected":false},"excerpt":{"rendered":"

This bell is part of the historic Universal Preservation Hall building being renovated into a performance venue. The facility is getting a state grant to hire a director to oversee the restoration. The Capital Region economic sector, which includes…<\/p>\n","protected":false},"author":121,"featured_media":25081,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-18586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"\r\nCapital Region Loses On $500M Development Prize, But Saratoga Projects Get $2.1M In Aid - Saratoga Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2016\/01\/capital-region-loses-on-500m-development-prize-but-saratoga-projects-get-21m-in-aid\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Capital Region Loses On $500M Development Prize, But Saratoga Projects Get $2.1M In Aid - Saratoga Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"This bell is part of the historic Universal Preservation Hall building being renovated into a performance venue. 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