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President Named to the Central NY Regional Economic Development Council

Le Moyne President Fred P. Pestello, Ph.D., has been named by New York State Gov. Andrew Cuomo to the new Central New York Regional Economic Development Council.

The regional councils are part of historic changes to the state’s economic development grant application process, announced yesterday afternoon in Syracuse by Gov. Cuomo. These changes reflect efforts to redesign the way state government works in order to drive economic growth and create jobs.

Under the new process, each of the state’s 10 regional councils will be able to apply for state funding to support projects they determine to be part of their regional strategy using a new Consolidated Funding Application (CFA), making the projects eligible for grant money and tax credits from dozens of existing programs. The combined pool of funding accessible through the CFA totals up to $1 billion.

According to Gov. Cuomo, “We are redesigning and streamlining the way economic development projects in New York receive state aid to ensure that the best projects with the most potential for regional economic growth receive the support they need.”

The regional councils change a top-down development model to a community-based approach that emphasizes regions’ unique assets, harnesses local expertise and empowers each region to set plans and priorities, Cuomo said.

“The creation of regional economic development councils represents a new and promising approach to bolstering the state’s economy. I’m excited to be playing a vital role in this effort as a representative for the Central New York region,” said President Pestello. “I’m honored that Gov. Cuomo has selected me to be part of this important initiative.”

Click here for more information on the new program. For a listing of CNY’s New York Regional Economic Development council members, click hereRead a story in the Syracuse Post-Standard about the council.

Other council members associated with Le Moyne include James R. Carrick, trustee; Ruben P. Cowart, regent; Kathryn H. Ruscitto ’76, 2011 honorary degree recipient and former regent; and Jack H. Webb, former regent.