Local news, art, history & entertainment in the mid-Hudson Valley
[ community news ]
MID-HUDSON AWARDED $83.3 MILLION TO SUPPORT ECONOMIC DEVELOPMENT
Legoland, waterfront development, distillers among top winners
BY HV NEWS STAFF • ORIGINALLY PUBLISHED 12/14/16
As part of Round VI of Governor Andrew M. Cuomo’s Regional Economic Development Council Initiative, the Mid-Hudson Regional Economic Development Council (MHREDC) last week was named a “Top Performer” and awarded $83.3 million to support 105 projects. The announcement, which supports projects in Westchester, Orange, Putnam, Dutchess, Rockland, Sullivan, and Ulster Counties, was made Thursday, December 8, in Albany. Through six rounds of the REDC competition, the Mid-Hudson REDC has delivered $475.9 million for 469 projects.
“We were gratified to learn that the Mid-Hudson had been named a top-performer in REDC Round 6, and that so many of our priority projects would move forward as a result of targeted State investment,” said Mid-Hudson REDC Co-chairs Leonard S. Schleifer, MD, Ph.D., founder, president and CEO of Regeneron Pharmaceuticals, and Dennis Murray, president emeritus and professor of public policy at Marist College. “Our council worked hard to develop a robust pipeline of strategy-aligned projects in industries including advanced manufacturing, food and beverage, and tourism, and New York State obviously took our recommendations very seriously. As these projects move forward, we are confident that they will have a transformational impact on our economy, create thousands of jobs, spur additional investment in our downtowns, and ensure that the Mid-Hudson Region remains a great place to live, work, and play.”
The REDC process has transformed government’s approach to economic development in New York State, creating a statewide framework for bottom-up, regional economic growth and streamlining the state funding application process. Since 2011, the first year of the initiative, over $4.6 billion has been awarded to more than 5,200 projects that are projected to create and retain more than 210,000 jobs statewide.
This year, all 10 REDCs competed for designation as a “Top Performer.” As a Top Performer, the Mid-Hudson REDC will receive up to $25 million in Empire State Development grant funding – as part of the overall award of $83.3 million – to support priority projects. Additionally, each region is eligible for up to $15 million in Excelsior Jobs Program tax credits to help attract and grow businesses in the region.
The following Mid-Hudson projects are highlights of priority projects awarded funding in Round Six:
$3 Million to support LEGOLAND – Orange County
LEGOLAND will consist of a theme park and resort in the Town of Goshen. The park will include rides and attractions, an aquarium, theaters, educational facilities, restaurants, a hotel and various facilities including offices and staff areas as well as associated parking and drainage facilities. Educational facilities and programs are also included to attract strong school visitation.
$750,000 to support the Star Estate Distillery in West Park – Ulster County
The Star Estate Development Group will open an environmentally friendly craft distillery, boutique hotel/restaurant, event space and small farm in West Park, NY. The Star Estate will be located on an iconic 27-acre Hudson Riverfront property, with both land and water access that has been used as a monastery and school for the past 150 years.
$500,000 to support the Sing Sing Prison Museum – Westchester County
The Sing Sing Historic Prison Museum will build a first-rate educational and historical museum at the site of the existing operating correctional facility, using the 1936 Prison Power House to house the museum, with access to the original 1825 Cellblock.
$2 Million to support the Poughkeepsie Landing Waterfront Redevelopment – Dutchess County
Poughkeepsie Waterfront Development LLC (PWD) is redeveloping a 14-acre parcel along the southern Hudson River waterfront in the City of Poughkeepsie. The mixed-use development will include apartments, shops, restaurants, a marina, a Hudson River Interpretive Center, and a connection to the Dutchess Rail Trail.