CAPITAL DISTRICT The Capital District may not have gotten any of the coveted $500 million upstate revitalization awards when Gov. Andrew Cuomo handed out more than $2 billion dollars on Friday, Dec. 11 though his Regional Economic Development Council (REDC) initiative, but local municipalities and economic development projects still received more money than in any other year since the initiative began doling out funds in 2011.
The REDC initiative, often referred to as Cuomo’s “Hunger Games” for its competitive nature, was implemented by Cuomo as a way to encourage state municipalities and developers to collaborate regionally to solve their unique economic challenges. Economic Development Councils representing 10 regions around the state work to develop strategic plans and submit those plans to review committee that analyzes and ranks them before deciding which project will receive funding.
