The third annual awards for the state’s regional councils will be announced this morning.
The event will start at 10:30 a.m. at The Egg theater near the state Capitol.
The 10 regional councils will be competing for $756 million in grants and tax breaks, including $150 million in capital aid and $70 million in tax credits.
The ceremony serves as a pep rally for the state’s economy, and the regional council program was Gov. Andrew Cuomo’s first major jobs initiative when he took office in 2011.
In 2011, $785 million for economic development projects was awarded, and it was $738 million last year.
Five regions will be named “top performers” and will receive an extra $25 million each. The other regions are competing for the remaining $25 million.
In 2011 and 2012, at least 52 grants or tax breaks awarded through the regional councils were pulled or rejected, Gannett’s Albany Bureau reported last month.
The $1.5 billion over the past two years supported 1,400 projects, and the Cuomo administration said it created or helped retain 75,000 jobs.
The Finger Lakes, Mid-Hudson and Southern Tier had the best strategic plans at the awards ceremony last year. The Finger Lakes received the most funding of the 10 regions at $96.2 million last year.
The Mid-Hudson, which stretches from Sullivan and Dutchess counties south to Westchester County, received $92.8 million.
The Southern Tier — covering the Binghamton, Ithaca and Elmira regions — received a total of $91.1 million, up from a statewide low of $49.4 million in 2011.
The councils submitted their plans this fall for consideration in the competition.