Fredonia to host Regional Economic Development meeting, Economic Development Funding workshop

As part of its ongoing efforts to promote economic development and community engagement in the region, SUNY Fredonia’s Division of Engagement and Economic Development will host the Western New York Regional Economic Development Council’s (WNY REDC) regular meeting followed by a New York State Consolidated Funding Application (CFA) workshop. The dual events are scheduled for Thursday, May 29, in the Williams Center.  When entering the main entrance, follow the signs for the Williams Center.  Parking will be in Lots 9A, 9B and 9C by University Stadium, with a shuttle bus available from noon to 5:00 p.m.

Vice President for Engagement and Economic Development Kevin Kearns said the WNY REDC meeting and workshop will provide area businesses and organizations the opportunity to learn more about the economic development strategy of Western New York and the $750 million in competitive economic development funding in this year’s CFA.

“I encourage the community to participate in both the council meeting and funding workshop,” Kearns stated. “The CFA presents us with an opportunity to put funding behind innovative and transformative projects that can boost the local economy and create new jobs and prosperity in our region.”

The WNY Regional Economic Development Council Meeting will be held from noon to 1:30 p.m. in Room S204 on the second floor of the Williams Center. The CFA workshop will follow at 2 p.m. in the Multipurpose Room on the first floor, with a welcome and general overview of the program, followed by breakout sessions that will conclude at 4:30 p.m. Pre-registration is requested for the workshop.

The Regional Economic Development Council initiative (REDC) is a key component of Gov. Andrew M. Cuomo’s transformative approach to State investment and economic development. In 2011, Cuomo established 10 regional councils to develop long-term strategic plans for economic growth for their regions. The councils are public-private partnerships made up of local experts and stakeholders from business, academia, local government and non-governmental organizations.

Regional councils have redefined the way New York invests in jobs and economic growth by putting in place a community-based, bottom-up approach and establishing a competitive process for state resources. After three rounds of the REDC process, more than $2 billion has been awarded to job creation and community development projects consistent with each region’s strategic plans, resulting in the creation or retention of more than 100,000 jobs.

The CFA process gives economic development project applicants expedited and streamlined access to a combined pool of grant money and tax credits from dozens of existing programs in New York State. CFA-hosted workshops represent the fourth round of Cuomo’s initiative to stimulate job creation and economic growth through the Regional Economic Development Council, which is sponsoring the workshop.

The CFA process marks a fundamental shift in the way state resources are allocated, ensuring less bureaucracy and greater efficiency to fulfill local economic development needs. The CFA serves as the single entry point for access to economic development funding, ensuring applicants no longer have to slowly navigate multiple agencies and sources without any mechanism for coordination. Now, economic development projects use the CFA as a support mechanism to access multiple state funding sources through one application, making the process quicker, easier and more productive. The CFA was recognized with a Special Award for Excellence in Business and Economic Development in 2012.

Fredonia established its Division of Engagement and Economic Development (EED) last year to facilitate and support university-community collaborations that enhance the intellectual, cultural, artistic and economic vibrancy of this region. Such collaborations include active community engagement and partnerships with local and regional organizations, governments, businesses and universities.

The CFA application period for the five-county Western New York area will close June 16.