As part of a historic initiative to transform New York State’s model for economic development and job creation, on September 2,2011, Governor Cuomo and the Department of State announced the creation of a NYS Consolidated Funding Application (CFA). 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 Department of State, eight other state agencies and authorities have pooled together resources to be made available through the CFA including: Empire State Development; NYS Canal Corporation; Energy Research and Development Authority; Environmental Facilities Corporation; Homes and Community Renewal; Department of Labor; Parks, Recreation and Historic Preservation; 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:
Community and Waterfront Revitalization
Direct Assistance to Businesses
Energy and Environmental Improvements
Parks, Historic Preservation and Heritage Areas
Sustainability Planning Assistance
To access the CFA, and any related materials, please visit http://nyworks.ny.gov.
As part of the up to $1 billion in state resources including low cost financing, tax credits and grant funding from over a dozen of existing agency programs, the Department of State is dedicating resources to advance the regions’ community and waterfront revitalization priorities through the CFA. You can read more about this effort in the Secretary of State's outreach letter about the program.
CFA workshops will be held throughout the first week in October at over a dozen locations across the state, covering all ten regions. The workshops will include an overview of the application and CFA process followed by informational breakout sessions on specific areas of funding available for economic development projects.
The NYSDOS program included under this initiative is the:
Environmental Protection Fund Local Waterfront Revitalization Program (EPF LWRP) ($10.875 million) – This grant program provides funding to villages, towns, cities and counties for a variety of waterfront planning, design and construction projects that advance economic, community, environmental and recreational improvements.
For additional information on the EPF LWRP program and associated funding, please contact Ken Smith at NYSDOS, Kenneth.Smith@dos.ny.gov or (518) 474-6000.