Economic Development

Regional Economic Development Councils

In 2011, Governor Cuomo established ten Regional Economic Development Councils (REDCs) to develop long-term regional strategic economic development plans. Campuses are eligible to apply for funding through the REDCs which received $150 million in new funding in the Executive Budget.


No new appropriation is provided for another round of the NYSUNY 2020 challenge grant program.

High Technology Programs

The Executive Budget maintains funding of $5 million for the Innovation Hot Spots and contains legislation that would consolidate the Centers of Excellence into Centers for Advanced Technology, allowing existing COEs to apply for designation as CATs, focusing the activities of these entities on job creation.