Dear Putnam County Business Community,

Did you see Governor Hochul’s recent announcement about the launch of Round XIII of the Regional Economic Development Council Initiative? (Just as a reminder, there are 10 Regional Councils, known as REDCS, across NYS and Putnam County is in the Mid-Hudson REDC).

The current round includes a wide range of grant and tax credit programs from 10 State agencies, including $150 million in grant funds from Empire State Development (ESD). The Councils are encouraged to support projects that advance or address NYS priorities – including green buildings and sustainable development, child care, and innovative public-private partnerships.

There are several new programs this year, including 2 ESD programs which will award smaller capital grants to support New York State craft beverage manufacturers and non-profit organizations. Learn more about the REDCs here: https://regionalcouncils.ny.gov/sites/default/files/2023-05/2023_REDC_Guidebook_0.pdf

But the timetable for submitting an application is short (only 10 weeks from the May 15th announcement; the deadline is July 28th at 4:00PM)

The REDCs are guided by their regional strategic economic development plans, which emphasize each region’s unique assets and provide strategies to harness local resources to stimulate regional economic development and create jobs.

They will score projects submitted through the Consolidated Funding Application (CFA), the State’s single application for NYS resources which is designed to give project applicants expedited and streamlined access to this combined pool of grant funds and tax credits.

You can learn more about the funding available in Round XIII and get help with the application process by joining Empire State Development staff members at the Mid-Hudson’s CFA information session for Putnam County next week on June 14th at the TOPS Building located at 112 Old Route 6 in Carmel beginning at 10:00AM.

Here is the link to register for this session: https://regionalcouncils.ny.gov/mid-hudson/events/mid-hudson-cfa-information-session-putnam-county-jun-14-2023

I will see you there.

Nat Prentice

President, Putnam County Business Council

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