New York State has launched a sweeping economic development effort for 2025, including a new $150 million competition aimed at driving transformational projects across the state. The Regional Economic Development Council (REDC) Initiative, in its 14th year, continues to be the cornerstone of New York’s community-based approach to growth.
$150 million ACHIEVE competition to fund high-impact projects
A major feature of the 2025 initiative is the ACHIEVE competition—short for Advancing Collaboration for High-impact Initiatives for Economic Visions & Expansion. This new program will allow each of the state’s 10 Regional Economic Development Councils to submit proposals for large-scale, shovel-ready economic initiatives.
- Top proposals may receive up to $50 million in implementation funding
- Multi-region partnerships are eligible for up to $75 million
- Submissions will be reviewed by a Strategic Implementation Assessment Team comprised of members of the Governor’s Cabinet
Projects must align with regional strategic plans and are expected to focus on sustainability, workforce development, and long-term economic resilience.
$60 million in capital funding also available
In addition to the ACHIEVE competition, the state is offering $60 million in Regional Council Capital Funds through the 2025 Consolidated Funding Application (CFA). This includes:
- $8 million for tourism-related capital projects, previously administered through the Market New York program
- Grants and tax credits available from over 20 state programs across eight agencies
Applications for most programs must be submitted by Thursday, July 31 at 4 p.m., while open enrollment programs will accept applications on a rolling basis until funds are exhausted.
New leadership and strategic planning underway
New York Secretary of State Walter T. Mosley has been appointed Chair of the REDC Initiative. He emphasized the importance of collaboration between local governments, academic institutions, and private businesses to create high-impact regional development strategies.
Each Regional Council will be required to submit an annual report detailing progress and outlining their ACHIEVE proposal. These reports must highlight:
- The current economic state of each region
- Implementation of ongoing strategic plans
- New anchor projects to catalyze growth
Since its inception in 2011, the REDC process has awarded over $8 billion to more than 10,000 community and job creation projects, transforming local economies through targeted, regionally informed investments.
How to get involved
CFA workshops are being held statewide to help applicants understand available programs and how to apply. More information, including the 2025 REDC Guidebook and application resources, is available at regionalcouncils.ny.gov.
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