Cuomo: $750M In State Economic Development Funds Available

ALBANY, N.Y. (AP) — The latest round in New York state's annual Regional Economic Development Council competition is underway, with $750 million to be awarded to entities statewide.

Democratic Gov. Andrew Cuomo announced Thursday that the state economic development funds will be awarded to 10 regions: western New York, Finger Lakes, Southern Tier, central New York, Mohawk Valley, North Country, Capital Region, Mid-Hudson, New York City and Long Island.

Businesses, local governments and not-for-profits can apply for assistance from dozens of state programs aimed at creating jobs and revitalizing communities.

Since 2011, Cuomo's first year in office, the initiative has awarded $5.4 billion to more than 6,000 projects statewide.

Cuomo's main economic development program has come under fire in recent years from political opponents and government watchdog groups who say it's not transparent enough and fails to attain job-creation goals.