More than $463 million has been distributed across New York State through the Regional Economic Development Council (REDC) initiative, Governor Kathy Hochul announced. The funding aims to support economic growth, housing development, and regional strategic plans.
The Long Island, Mohawk Valley, New York City, and Southern Tier regions were named winners of the first Advancing Collaboration for High-impact Initiatives for Economic Visions & Expansion (ACHIEVE) competition. These four regions will share $150 million in enhanced implementation funding intended to spur regional growth by supporting high-impact economic development projects.
Governor Hochul stated, “I remain grateful for everyone involved in advancing the work of the Regional Economic Development Councils. Their dedication to this ongoing public-private effort has had a transformational impact in every corner of the state. Congratulations to four regions, named the inaugural winners of the ACHIEVE competition. The focused investments laid out in the locally designed plans will create investment opportunities that will help to build an enduring and successful future for all New Yorkers.”
Under the ACHIEVE program, each REDC developed a proposal targeting major regional transformation. Long Island’s proposal received $30 million to develop a commercialization corridor focused on “hard-tech” industries such as advanced materials and energy systems. The Mohawk Valley’s plan was awarded $32 million for projects aimed at rural resilience and community reinvestment through tourism and agribusiness initiatives.
New York City’s Breakthrough Initiative secured $50 million to promote mixed-use neighborhood redevelopment in underutilized areas, integrating housing with commercial and industrial uses while creating permanent jobs and career training opportunities. The Southern Tier was granted $38 million for SouthWorks in Ithaca—a project repurposing a former factory site into a mixed-use space with housing options, innovation hubs, workforce development resources, and community amenities.
In addition to ACHIEVE funding, over 380 projects statewide are receiving more than $300 million through various agency programs within the annual REDC initiative and Consolidated Funding Application process. These funds are targeted at catalyzing economic growth and increasing housing supply by modernizing infrastructure such as water, sewer, and electrical systems—measures expected to facilitate new affordable housing developments across multiple regions.
For example:
– The Capital Region is receiving more than $45 million for 52 projects.
– Central New York is being awarded nearly $26.2 million.
– The Finger Lakes region is set to receive over $42 million.
– Long Island is getting more than $26 million.
– The Mid-Hudson Region receives over $53 million.
– The Mohawk Valley gets about $23.4 million.
– New York City receives almost $29.5 million.
– North Country is allocated nearly $12.4 million.
– Southern Tier receives more than $26.4 million.
– Western New York secures about $28.5 million.
The full list of awardees can be found at regionalcouncils.ny.gov.
Walter T. Mosley, Secretary of State and REDC Chair said: “I want to congratulate all the dedicated individuals who worked so hard in helping promote, shape and drive sustainable economic development in our communities. Over the years, the REDC initiative has created jobs, affordable housing and sparked economies all across our state and the Department of State has been proud to play a role. And now with Governor Hochul’s new ACHIEVE initiative, large scale transformational projects are serious game changers for our winning regions. It’s been an honor to serve as REDC Chair and I look forward to continued collaboration and seeing the implementation of innovative ideas and projects.”
Hope Knight, Empire State Development President, CEO and Commissioner added: “Under Governor Hochul’s leadership, New York’s regional approach to economic development continues to create jobs and leverage private investments. With more than hundreds of projects supported across the state through multiple programs and state agencies, we are promoting opportunities that will generate sustainable economic growth. The additional $150 million in funding awarded to four regions through the ACHIEVE competition will help to jumpstart dynamic, transformational projects that align with the strategies created by the local stakeholders who represent the Regional Councils.”
RuthAnne Visnauskas from Homes and Community Renewal commented: “Through the new $100 million Pro-Housing Supply Fund, we’re helping localities modernize critical infrastructure — upgrading water, sewer, and electric systems — to support 6,000 homes and unlock new housing opportunities. HCR is committed to supporting communities that are striving to grow their housing supply by removing barriers to development and ensuring people across New York have access to safe, affordable homes. This is about more than housing — it’s about building vibrant, sustainable neighborhoods that will thrive for generations.”
Since its inception more than a decade ago,the REDC Initiative has directed over $8 billion toward job creation and community development efforts throughout New York State.