Consolidated Funding Application Announcement
On July 20, 2011, as part of a historic initiative to transform New York State’s model for economic development and job creation, Governor Andrew M. Cuomo announced that up to $1 billion in economic development funding would be made available through a consolidated application process. Beginning September 2, 2011, the NYS Consolidated Funding Application (CFA) is available to eligible applicants, marking a fundamental shift in how economic development resources are allocated. The CFA will serve as a more efficient and effective tool to streamline and expedite the State’s efforts to generate sustainable economic growth and employment opportunities across the state.
The CFA aligns agency resources behind a coordinated and comprehensive approach that ensures less bureaucracy and greater efficiency in the fulfillment of local economic development needs. By eliminating the need for businesses and others to navigate a complicated and uncoordinated system of economic incentives, the CFA will make it quicker and easier for economic development project applicants to access up to $1 billion in state resources from multiple agencies.
To support the Governor’s transformative plans to improve New York’s business climate and stimulate economic growth, ten Regional Economic Development Councils were recently created. Through a performance based, community-driven approach, Regional Councils will design a strategic economic development model for their area and use the CFA as the primary support mechanism to work with eligible applicants to advance projects that demonstrate the greatest potential for job creation and economic opportunity.
In addition to the New York Power Authority, nine other state agencies and authorities have pooled together resources to be made available through the CFA including: NYS Canal Corporation; Empire State Development Corporation; Energy Research and Development Authority; Environmental Facilities Corporation; Homes and Community Renewal; Department of Labor; Parks, Recreation and Historic Preservation; Department of State; and Department of Transportation. As the CFA process is revised and improved, additional resources will become available.
Funding is currently available for the following projects:
- Affordable Housing
- Community and Waterfront Revitalization
- Direct Assistance to Businesses
- Energy and Environmental Improvements
- Low-Cost Financing
- Municipal/Public Infrastructure
- Parks, Historic Preservation and Heritage Areas
- Sustainability Planning Assistance
- Transportation Infrastructure
- Workforce Development
To access the CFA, and any related materials, please visit http://nyworks.ny.gov.
* To apply specifically for ReCharge New York, be sure to select “Direct Assistance to Businesses” and / or “Energy and Environmental Improvements” as a category.