2025 REDC Intitiative

This year Regional Councils will maintain their focus on implementing each region’s strategic plan and continue to identify and invest in significant economic development projects. The 2025 REDC Initiative includes core capital and tax-credit funding that will be combined with a wide range of agency programs through the CFA process. The core funding includes $135 million in grants and tax credits to fund high value regional priority projects, as well as additional funding from state agencies available to support community revitalization and business growth consistent with the REDC plans.

This year, there are programs available through 8 state agencies for the REDC Initiative, including Empire State Development; NYS Canal Corporation; NYS Energy Research and Development Authority; Homes and Community Renewal; New York Power Authority; Office of Parks, Recreation and Historic Preservation; Department of Environmental Conservation; and Department of State. In an effort to provide the most appropriate state resources through this process, participating agencies will be able to review and potentially provide funding to a project that did not specifically apply to that program, if the materials submitted at time of application satisfy the requirements for that program and allow for fair review under the circumstances. In addition, all programs contained in this document will use regional distribution standards to ensure projects are funded throughout the state, to the extent possible.

This document outlines information about each agency’s grant programs, including eligibility, scoring criteria, applicant requirements, and agency contact information for programs that are part of the 2025 REDC Initiative.

Please be advised that all CFA grants are subject to the New York State Executive Law Articles 15-A and Article 3 of New York State Veterans’ Services Law, which requires, where applicable, an obligation under the law to promote opportunities for maximum feasible participation of certified minority and women-owned business enterprises (MWBEs) and service-disabled veteran-owned businesses (SDVOBs) in the performance of ESD projects. Recipients shall be required to use Good Faith Efforts (pursuant to 5 NYCRR §142.8 and 9 NYCRR § 252.2(m) to achieve MWBE and SDVOB Participation. In addition, ESD’s MWBE and SDVOB Participation/Equal Employment Opportunity Policy will apply to this project.