Nearly all of a $500 million state award meant to revitalize the Finger Lakes region has been committed, officials say.
But just $100 million is out the door, and just a quarter of the 100 funded projects have started.
“We have yet to see the full impact,” said Vinnie Esposito, executive director for the Finger Lakes Regional Economic Development Council. “But we have the commitments in place to build the foundation.”
Gov. Andrew Cuomo announced the Upstate Revitalization Award back in December 2015, anticipating then that the funding would last five years. The nine-county Finger Lakes region is two years ahead of schedule, with just $500,000 yet to be offered or committed, Esposito said.
By comparison, the Southern Tier has committed $195 million of its award to 42 projects, while the Central New York region has committed $301 million toward 51 projects.
“This is really the beginning, and not the end,” Esposito said.