{"id":36948,"date":"2021-12-13T17:44:56","date_gmt":"2021-12-13T22:44:56","guid":{"rendered":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/?p=36948"},"modified":"2021-12-13T17:44:56","modified_gmt":"2021-12-13T22:44:56","slug":"four-projects-in-saratoga-county-get-funds-from-regional-economic-development-unit","status":"publish","type":"post","link":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2021\/12\/four-projects-in-saratoga-county-get-funds-from-regional-economic-development-unit\/","title":{"rendered":"Four Projects In Saratoga County Get Funds From Regional Economic Development Unit"},"content":{"rendered":"<p>New York state has awarded over $81 million through its Regional Economic Development Council initiative to support 97 priority projects across<span class=\"Apple-converted-space\">\u00a0 <\/span>the state.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>This year, $150 million in grant funds from Empire State Development was made available on a continuous and competitive basis to support the immediate needs of applicants. Additionally, projects within each region are eligible for a share of $75 million in Excelsior Jobs Program Tax Credits to help attract and grow business in their region.<\/p>\n<p>In Saratoga County, four projects received funding.<\/p>\n<p>\u201cThe pandemic toll touched every corner of the state and every sector of New York\u2019s economy, and as a result we must ensure that our recovery does the same,\u201d Gov. Kathy Hochul said. \u201cAs we move forward from the pandemic we are using the rolling grant process to build New York state back better by supporting shovel-ready projects with the potential to accelerate new investments and catalyze economic growth in every community.\u201d<\/p>\n<p>\u201cThrough a collaborative, bottom up, and regional approach to economic development, these projects were chosen for their innovation, impact on their communities and potential for positive change coming out of the pandemic,\u201d said Lt.<span class=\"Apple-converted-space\">\u00a0 <\/span>Gov. Brian Benjamin. \u201cWhether it is workforce development, tourism, green investments or domestic manufacturing, we are moving forward to foster a strong and prosperous economy in New York state.\u201d<\/p>\n<p><span class=\"s1\"><span class=\"s2\"><!--more--><\/span><\/span>Projects in Saratoga County include:<\/p>\n<p><b>\u2022 <\/b>Saratoga Artisanal Brew Works will receive $100,000 to invest in new equipment and a new facility to meet the growing demand for craft beverages and better accommodate visitors to its on-site tasting room with the addition of restaurant service.<\/p>\n<p><b>\u2022 <\/b>Hudson Valley Community College expanding STEM and healthcare workforce development education in Malta near GlobalFoundries received $2.5 million. HVCC will renovate\/create new training facilities to increase enrollment capacity for education and skills training in high-demand health science, STEM and skilled trades programs, to support vital industry partners.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p><b>\u2022 <\/b>Saratoga County Sewer District No. 1 SCSD WWTP ammonia removal project receives $2.75 million. The proposed upgrades to Saratoga County\u2019s Waste Water Treatment Plant includes installation of efficient technology for the biological removal of ammonia from wastewater. The project will repair aged infrastructure, protect the Hudson River and downstream communities, and continue to allow GlobalFoundries, and other regional manufacturers, to make economic investments and create new jobs in the community.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p><b>\u2022 <\/b>Wright Electric, a company committed to reducing the environmental footprint of aviation through electric propulsion and novel aircraft design, is locating a new Wright Laboratory in Saratoga County. It receives $500,000. This lab will be committed to the development and testing of high power, high voltage testing of aircraft electric propulsion system and will provide high paying jobs to the Capital Region.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The application for ESD Grant funds remains open, and applications are being reviewed on an on-going basis until funds are exhausted.<span class=\"Apple-converted-space\">\u00a0 <\/span>Applicants with strong, shovel-ready projects that align with the state and region\u2019s economic development priorities can apply through the Consolidated Funding Application.<\/p>\n<p>Empire State Development Acting Commissioner and President and CEO-designate Hope Knight said, \u201cThe COVID pandemic has had a devastating impact on our state, and this is especially true for the businesses and organizations that are the foundation of our economy.<span class=\"Apple-converted-space\">\u00a0 <\/span>The Regional Economic Development Councils, made up of people who know their own communities best, have recommended innovative projects that will help their regions rebuild, and reemerge stronger and smarter for the future.\u201d<\/p>\n<p>The<span class=\"Apple-converted-space\">\u00a0 <\/span>initial round of priority projects was recommended by each Regional Council because of their project readiness and alignment with each region\u2019s strategic plan.<\/p>\n<p>The Consolidated Funding Application was created to streamline and expedite the grant application process. The CFA process marks a fundamental shift in the way state resources are allocated, ensuring less bureaucracy and greater efficiency to fulfill local economic development needs.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The CFA serves as the single-entry point for access to economic development funding, ensuring applicants no longer have to slowly navigate multiple agencies and sources without any mechanism for coordination. Now, economic development projects use the CFA as a support mechanism to access multiple state funding sources through one application, making the process quicker, easier, and more productive.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The Regional Economic Development Council initiative is a key component of the state\u2019s approach to state investment and economic development. In 2011, 10 Regional Councils were established to develop long-term strategic plans for economic growth for their regions.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The councils are public-private partnerships made up of local experts and stakeholders from business, academia, local government, and non-governmental organizations. Learn more at regionalcouncils.ny.gov.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York state has awarded over $81 million through its Regional Economic Development Council initiative to support 97 priority projects across\u00a0 the state.\u00a0 This year, $150 million in grant funds from Empire State Development was made available on a continuous and competitive basis to support the immediate needs of applicants. Additionally, projects within each region [&hellip;]<\/p>\n","protected":false},"author":89,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-36948","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Four Projects In Saratoga County Get Funds From Regional Economic Development Unit - 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\/2021\/12\/four-projects-in-saratoga-county-get-funds-from-regional-economic-development-unit\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Four Projects In Saratoga County Get Funds From Regional Economic Development Unit - Saratoga Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"New York state has awarded over $81 million through its Regional Economic Development Council initiative to support 97 priority projects across\u00a0 the state.\u00a0 This year, $150 million in grant funds from Empire State Development was made available on a continuous and competitive basis to support the immediate needs of applicants. 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