Otsego Among Counties Vying

For $1.5B In New Ec-Dev Funds

Governor Cuomo, in Rochester today, announced seven Upstate economic-development regions – including the Mohawk Valley, which includes Otsego County – can compete in a $1.5 billion Upstate New York Economic Revitalization Competition.

This competition will replicate the successful Buffalo Billion initiative, a program that focused on jumpstarting the economy of the entire Western New York region. The proposed competition uses the Buffalo Billion’s model in an effort to drive community revitalization, job growth, and population sustainability across upstate New York.

Projects exhibiting region-wide impact will be made a priority and should focus on strengthening critical infrastructure, revitalizing communities, bolstering workforce development, growing tourism, and improving quality of life. The competition will combine the expertise and structure of the Regional Economic Development Councils with successful elements of Western New York’s Buffalo Billion to develop regional investment plans that identify existing assets, highlight needs and recommend areas of opportunity.

Seven regions are eligible to compete for one of three $500 million upstate revitalization funds: Mid-Hudson, Capital Region, Mohawk Valley, Central New York, North Country, Southern Tier and Finger Lakes.