This afternoon, FOX Business News Channel host Maria Bartiromo announced that New York City is a top performer, and will receive $80.2M for 121 Regional Economic Development Council (REDC) projects. The event was livestreamed from the Hart Theatre, Egg Center for Performing Arts, Albany.
The Regional Economic Development Council initiative is a key component of Governor Andrew M. Cuomo’s approach to State investment and economic development.
Among the 121 NYC projects, the Women’s Housing and Economic Development Corp (WHEDco) was the biggest Bronx awardee, receiving $2 million REDC grant. WHEDco will use the grant to redevelop a 300-seat theater, the Bronx Music Hall by creating a sound proof recording studio, rehearsal classroom space, and an outdoor amphitheater where neighbors and visitors will be able to enjoy outdoor performances.
York Studios (dba Bronx River Media Group LLC) will receive $1.2 million for construction of its Bronx production studio facility including 5 television studios, scenery and woodworking shops, wardrobe and production office space and parking, in addition to infrastructure improvements.
The Hunts Point Cooperative Market will receive $950,000 to replace the outdated Central Cooling Tower for the refrigeration units with a new energy efficient unit that will be capable to handle the refrigeration needs for the next 20 years.
Other REDC awardees include Bronx Community College, Ghetto Film School, Mid-Bronx Senior Citizen Council, Inc., Sustainable South Bronx, The NY Botanical Garden, and Per Scholas, Inc.
The complete list of REDC awardees can be found here. Bronx-based REDC winners are listed below.
In 2011, Governor 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.
Watch the 2016 NYC Regional Economic Development Awards video below: