Assemblyman Michael A. Montesano (R,I,C-Glen Head) welcomed Governor Andrew Cuomo to State University of New York at Old Westbury today to announce the beginning of the Regional Economic Development Councils as part of New York State’s initiative to spur economic growth through community partnerships.
The Regional Economic Development Councils will work to promote long-term, private-sector job growth through the consolidation of the application process into a new consolidated funding application (CFA), which will make job-creation projects eligible for grant money and tax credits from dozens of existing programs. The combined pool of funding accessible through the CFA totals is nearly $1 billion. Assemblyman Montesano noted the importance of this new approach and its effects on the community.
“The new economic development measures I voted to support will help to keep Long Island’s best and brightest living and working here and reverse our human-capital brain drain,” said Montesano. “This is a great opportunity to bring good-paying jobs to our region and move Long Island forward. Our Regional Economic Development Council will bring together the strengths and unique qualities found throughout Long Island and work in unison to streamline the application process for grant money and tax credits, helping to stimulate job growth.
“These Regional Economic Development Councils will transform the flawed top-down economic development model of the past into a community-based approach that emphasizes each region’s unique assets, taps into local expertise, and empowers each region to set plans and priorities,” said Montesano. “The council will develop a plan for the development of their region by relying on a distinctive knowledge of the area. This is a new era in economic growth for New York State and we all are ready to hit the ground running to better Long Island.”
For individuals or businesses interested in further information on job creation, or those submitting into the new consolidated funding application process, may reach Assemblyman Montesano at his district office at 516-937-3571 or by email at email@example.com.