Central New York and the Southern Tier will also receive $500 million awards. The councils were in competition with seven other regions for the funds, which the state said it will allocate as $100 million per year, over a period of five years.
FLREDC won the award after submitting an application detailing how it would spend the funds.
The council said it plans to spend the money on food-based and agricultural projects, namely with FLX Foods, an organization which consists of a coalition of food production and agricultural companies.
Finger Lakes also detailed plans for gearing money toward the blossoming local optics and photonics manufacturing industry, as well as an investment into a manufacturing facility at Eastman Business Park, and an “Eco-Brewery District” in Buffalo.
The plans are expected to create hundreds of jobs for the region.
FLREDC co-chairs, University of Rochester president and CEO Joel Seligman, and Wegmans Food Markets Danny Wegman, issued the following statement regarding the award:
“We cannot overstate our enthusiasm at this historic opportunity to transform our region’s economy. We are deeply grateful to the governor and New York State Legislature for their unprecedented commitment to revive the upstate economy, and help confront the roots of poverty in our region. The URI award represents a catalytic multi-year commitment to accelerate economic growth at a speed, and on a scale previously unimaginable, and to extend opportunity to more of our region’s residents.”
View FLREDC’s full plan at https://www.ny.gov/sites/ny.gov/files/atoms/files/FLREDC_URI_FinalPlan.pdf