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Where Is Economic Development Award Money Going?

Posted By Jessica Bakeman On December 19, 2012 @ 5:28 pm In Other | Comments Disabled

The governor’s office released the full list of 725 projects that will be funded with money from the second year of Regional Economic Development Council awards.

The state is funding 76 projects in the Finger Lakes region, including $5 million for the University of Rochester and IBM to purchase high-speed computing equipment. The purchase will help create one of the most powerful, energy-efficient, high-performance computing facilities in the world.

The Rochester Institute of Technology will get $5 million, as well, to purchase equipment for its Golisano Institute of Sustainability.

The state will give $4 million each to two downtown Rochester projects: rehabilitating Midtown Tower into apartments and commercial space and building College Town, a mixed-use development adjacent to the U of R campus.

In the Southern Tier, 62 projects will be funded, including $7 million to fund a high-technology incubator in Binghamton.

BAE Systems with Binghamton University will get $2.1 million to advance BAE’s hybrid electric-propulsion system product lines. BAE will invets $2.9 million and create 40 jobs.

The state also awarded $1.8 million to reconstruct Ithaca Commons in downtown Ithaca and replace its underground utilities, as well as $2.5 million to construct a waste water management system in the town of Lansing, Tompkins County.

The Mid-Hudson region received funding for 84 projects.

Two of the biggest awards went to purchase and renovate two 100-plus unit apartment complexes for affordable senior citizen housing in Orange County. One in Newburgh will receive $10 million, and another in Middletown will receive $7 million.

The state also awarded $2.5 million for the development of a specialty hospital for children with autism, severe developmental disabilities and medical complexities in Sullivan County. Kingston, Ulster County, will use $1.2 million to construct a mile-long promenade along the Hudson River, and New Rochelle, Westchester County will use $1.5 million to develop a mixed-use space with housing and shops on the Long Island Sound.

Here’s the complete list:

2012 Red c Booklet [1]


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[1] 2012 Red c Booklet: http://www.scribd.com/doc/117435764/2012-Red-c-Booklet