The 8th Round of New York State Regional Economic Development Council Competitions (REDC Announcement) has been announced.
In order to facilitate the strongest, competitive applications from Syracuse University, the Office of Research is requesting submissions of concepts from any interested faculty, institutional units, and/or interdisciplinary teams. Please complete this brief form found on the Office of Research website by 9:00 a.m., Monday, June 18th.
Selected proposers will be notified by 5:00 p.m. Friday, June 29th.
Based on areas of focus and relevant expertise, applicants may be asked to form teams and consolidate applications, to create the most competitive institutional submission(s). If so, the Offices of Research and Community and Government relations will facilitate team building and coordination, and will advise and assist in the construction and facilitation of final application(s), in conjunction with the Office of Sponsored Programs.
Please direct any questions regarding submissions of intent to VPR@syr.edu.
Regional Economic Development Council 2018 Competition Summary
Deadline: 4:00 p.m. July 27, 2018
$525 Million will be awarded through the Consolidated Funding Application process. Funding available in REDC Round 8 include (among other categories):
- Up to $150 million in capital grants, through Empire State Development Grants
- For capital-based economic projects, intended to create or retain jobs; prevent reduce or eliminate unemployment and underemployment; and/or increase business or economic activity in a community or Region
- Assistance falls into three categories: 1) Business Investment; 2) Infrastructure Investment; 3) Economic Growth Investment
- Fund may be used for: acquisition of land, buildings, and/or machinery, equipment and furniture/fixtures; demolition & environmental remediation; new construction, renovation or leasehold improvements; soft costs of up to 25% of total project costs; planning and feasibility studies related to a specific capital project or site
- Up to $ 75 million in four types of Excelsior Tax credits, under the Excelsior Job Program: Job Tax Credit; Investment Tax Credit; Research and Development Tax Credit; and Real Property Tax Credit
- Provides job creation and investment incentive for firms in targeted industries, such as pharmaceutical, bio-tech, high-tech, clean-technology, green technology, financial services, agre4iculture and manufacturing
- for projects/activities identified by the REDCs as regional priorities in their communities.
- Up to $5 million Community Development through Arts and Culture Initiatives under the NYS Council on the Arts (NYSCA)
- For projects designed to enhance and transform the cultural and economic vitality (including civic and social life) of New York State communities
- Categories of support include:
- 1) Arts & Cultural Impact Programming: FOCUS 1 Erie Canal Bicentennial Celebration; FOCUS 2 Women’s Suffrage Commemoration FOCUS 3 – Arts and Artists in Public Spaces
- 2) Workforce Investment: FOCUS 1 Administrative Positions; FOCUS 2 Artistic Positions; FOCUS 3 Resident Artist Position
- 3) Workforce Readiness: FOCUS 1 Arts Career Development Fellowships for Underrepresented Communities; FOCUS 2 Arts Career Training Programs;
- Priority will be given to applicants that have not received NYSCA REDC Initiative funding in previous years
In practice, projects most likely to be funded are those:
- Aligned with the region’s opportunity agenda, Upstate Revitalization Initiative (URI) CNY Rising, and/or
- Aligned with REDC funding priorities, as outline in the 2018 Available CFA Resources document, including the Downtown Revitalization Initiative and Veterans’ Related Projects.
The following new areas of consideration for award funding have been included for 2018, and will be prioritized:
Downtown Revitalization Initiative
The Downtown Revitalization Initiative will invest $10 million in each of 10 communities positioned for development to transform them into vibrant communities where tomorrow’s workforce will want to live, work and raise families. In 2018, the Downtown Revitalization Initiative will again support a community planning process where each community develops the key ingredients needed for successful downtown revitalization.
Identifying Workforce Development Strategies to Meet Business’ Needs and Improving the Regional Talent Pipeline
In 2017, Regional Councils worked with industries and educational institutions to identify skills gaps in their regions, as well as the programmatic availability of workforce training opportunities in high schools, community colleges, and universities. Strategies were identified to bridge those gaps which will require public and private sector collaboration and new ways of thinking about education and workforce readiness. In 2018, the Governor’s Office will be creating the Office of Workforce Development, which will make funding available for workforce development projects outside of the traditional REDC schedule. Regional Councils are asked to continue to develop sector-based workforce development plans and identify strategies to meet businesses’ short term workforce needs, improve regional talent pipelines, expand apprenticeships and address the long term needs of expanding industries with a focus on emerging fields with growing demand for jobs.
Identifying Projects for the State’s Life Science Cluster
The State’s life sciences initiative presents the opportunity for Regional Councils to expand efforts in this sector as incentives for the State’s life science industry. Regional Councils should continue to work with various components of the life science sector to assure maximum success in industry growth and expansion. Each Regional Council is asked to work with colleges and universities in each region to identify academic programs that develop life science personnel, and help to establish a pipeline from training to employment in the life sciences field. Additionally, Regional Councils should seek Priority Projects that align with the life sciences cluster.