The U.S. Economic Development Administration (EDA) has awarded $70,000 to six regional planning and development boards in New York to develop an economic-development strategy.
The EDA is a bureau within the U.S. Department of Commerce.
The boards will use the finding to develop and implement a “comprehensive economic-development strategy” that supports private capital investment and job creation in their respective regions.
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U.S. Senator Charles Schumer (D–N.Y.) announced the funding in a news release.
The funding will benefit several counties in Central New York, the Mohawk Valley, and the Southern Tier, according to Schumer’s office.
The Central New York Regional Planning and Development Board will develop a plan that targets Onondaga, Cayuga, Cortland, Madison, and Oswego counties and the City of Syracuse.
The Mohawk Valley Economic Development District’s plan will focus on Oneida, Herkimer, Fulton, Montgomery, Otsego, and Schoharie counties.
The Southern Tier East Regional Planning and Development Commission will develop a plan that targets Broome, Chenango, Cortland, Delaware, and Tioga counties.
“Having a clear, strategic vision for creating jobs and attracting private investment is key to strengthening regional economies around the state,” Schumer said in the release. “This federal funding will help economic development experts in the Mohawk Valley, Central New York, Finger Lakes, Southern Tier, and Adirondacks develop the type of comprehensive strategy that can provide a real shot in the arm to the regional economy.”
As the only federal government agency focused exclusively on economic development, the EDA fosters regional economic-development efforts in communities nationwide, according to the EDA website.
Through “strategic” investments that foster job creation and attract private investment, EDA supports development in “economically distressed” areas of the U.S, the website says.
Contact Reinhardt at ereinhardt@cnybj.com
