ALBANY, N.Y. (AP) — New York state's 10 economic regions will divide more than $700 million in new state economic development funding.
Gov. Andrew Cuomo's administration announced the awards Thursday in Albany.
The money will support hundreds of local economic development projects including private company expansions, new start-up businesses, local higher education programs, and workforce development initiatives.
Five regions were declared "top performers" and received extra money this year. They are the mid-Hudson Valley, the capital region, New York City, the Mohawk Valley and the Finger Lakes. The mid-Hudson region received $83.3 million, the largest single award.
Cuomo's administration has used state investments in an attempt to spur growth in high-tech manufacturing, biotechnology, renewable energy, nanotechnology and other industries that state officials say could make the state more economically competitive.