2017 progress report - regional economic progress report - regional economic development

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  • a message from the capital region regional co-chairsa message from the capital region regional co-chairs

    Everywhere you go across our eight counties, you can feel a new level of confidence and excitement about the future. From farmers markets to biomedical research laboratories, there is a sense of accomplishment and possibility an optimism that is attracting amazing talent and unprecedented investments.

    The Capital Region Economic Development Council (CREDC) has worked hard to create this positive environment a place where innovators, entrepreneurs and all community members can move forward with their ideas, their businesses, and their aspirations.

    This year has marked a pivotal chapter in the CREDCs history. We transitioned to a strategic plan that integrates the most successful elements of our 2011 goals into the themes of our 2015 Capital 20.20 plan. We built on the strengths we have identified and worked to shore up those areas of our communities we know need greater attention. And we responded to statewide priorities by cultivating placemaking, enhancing our workforce, developing our tradeable sectors and encouraging innovation that can spark new opportunities.

    Our theme The Capital Region Creates, continues to inspire us to fully leverage our tremendous assets in the creative economy. It also reminds us that creativity remains our stock-in-trade the connective tissue that makes all of our progress possible.

    JAMES J. BARBAPresident and CEO, Albany Medical Center

    JAMES R. STELLAR Provost and Senior Vice President

    for Academic Affairs, University at Albany

    The City of Hudson, our 2017 Downtown Revitalization Initiative (DRI) winner, represents our regions vibrant and diverse economy. Within the boundaries of the DRI zone, arts and culture blend with traditional manufacturing, a multi-purpose waterfront and a thriving mix of retail businesses and residential development. Hudsons robust community-based planning initiative will guide this investment, ensuring this opportunity is shared across the community as the city elevates its stature as a destination.

    Meanwhile, our 2016 DRI winner, Glens Falls, has begun putting its plan into place. Projects like SUNY Adirondacks culinary school, The Market on South Street, Arts District and Public Arts Trail, and high-speed broadband expansion are attracting new entrepreneurs, residents and tourists to the citys growing Arts, Wellness and Entertainment (AWE) District.

    None of these achievements would have been possible with our dedicated Council members and work group members and the many partners and community members who have lent their time, expertise and passion to this process. And, as always, we are grateful for Governor Andrew Cuomos vision in creating the REDCs, which support collaborative, inclusive economic development across New York State.

    It is with great pleasure that we present this report on our progress, including proposals for new investments investments that will expand opportunities for growth and development across the diverse communities and

    landscapes that make up the Capital Region.

    Capital Region Regional Co-Chairs

    James J. BarbaPresident & CEO, Albany Medical Center

    James StellarProvost and Senior Vice President for Academic Affairs, University at Albany

    Capital Region Representatives Robert Blackman

    Vice President, Realty USA Dennis Brobston

    Saratoga Economic Development Corporation David Brown

    President and CEO, Capital District YMCA David Buicko

    President and CEO, Galesi Group Mary Cheeks

    General Manager, Rivers Casino and Resort Joseph P. Dragone, Ph.D. Senior Executive Officer, Capital Region BOCES

    Todd Erling Executive Director, Hudson Valley

    Agribusiness Development Corporation Bill Hart

    Vice President, U.S. Business Operations, Irving Tissue Inc.

    Michael J. Hickey CEO, Monolith solar Linda MacFarlane

    Executive Director, Community Loan Fund of the Capital Region, Inc.

    Andrew Matonak, Ed.D President, Hudson Valley Community College

    Andrew Meader Partner, 46 Peaks Studios

    Philip Morris CEO, Proctors Theatre

    Matthew NelsonVP and Mortgage Officer, The Community

    Preservation Corporation, Inc. (CPC) Lauren Payne

    Managing Partner and Co-founder, Spiral Design Studio

    Sinclair SchullerCEO, Apprenda, Inc.

    Jeff StarkPresident, Greater Capital Region

    Building Trades Council F. Michael Tucker

    President, Tucker Strategies, Inc. Omar Usmani

    Executive Partner, Aeon Nexus Corporation Joseph Wildermuth

    Vice President, Peckham Industries Ronald Conover (Ex-officio)

    Chairman, Warren County Board of Supervisors

    Robert Henke (Ex-officio)Chairman, Washington County

    Board of Supervisors Anthony Jasenski (Ex-officio)

    Chairman, Schenectady County Legislature Kathleen Jimino (Ex-officio)

    County Executive, Rensselaer County Edward Kinowski (Ex-officio)

    Chairman, Saratoga County Board of Supervisors

    Kevin Lewis (Ex-officio)Chairman, Greene County Legislature

    Patrick Madden (Ex-officio)Mayor, City of Troy

    Gary McCarthy (Ex-officio)Mayor, City of Schenectady Daniel McCoy (Ex-officio)

    County Executive, Albany County Matt M. Murell (Ex-officio)

    Chairman, Columbia County Board of Supervisors

    Kathy Sheehan (Ex-officio) Mayor, City of Albany

    01 MESSAGE FROM THE CREDC CO-CHAIRS

    02 EXECUTIVE SUMMARY

    03 STRATEGIC PLAN

    04 STATE OF THE REGION E General Economic Indicators

    E Quality of Life Indicators

    E Key Regional Indicators

    12 PAST PRIORITY PROJECTS E Status of Past Priority Projects

    E Status of ESD Past Priority Projects

    E ESD Past Priority Project Highlights

    E Status of All Projects Awarded CFA Funding

    E Job Creation

    E Non-ESD Past Priority CFA Project Highlights

    20 IMPLEMENTATION OF 2017 STATE PRIORITIES E Implementing Progress through the Project Pipeline

    E Placemaking

    E Workforce Development

    E Tradeable Sectors & Global NY

    E Regional Strategies that Address State Priorities

    E Needed Actions and New Strategies

    32 IMPLEMENTATION OF STATEWIDE REGIONAL PRIORITIES E Regional Hot Spot

    E Opportunity Agenda

    E Veterans Participation in the Workforce

    E Life Sciences Cluster

    E Downtowns

    E Local Government Engagement

    46 IMPLEMENTATION OF KEY REGIONAL PRIORITIES E Measuring the Performance and Progress of the Strategic Plan

    E Implementing Strategies through the Project Pipeline

    E Regional Cluster Plan

    56 2017 PROPOSED PRIORITY PROJECTS E Proposed Priority Projects

    E Regionally Significant Proposed Projects

    E Non-ESD Proposed Priority Projects

    88 Participation

    94 HUDSON DOWNTOWN REVITALIZATION INITIATIVE

    99 APPENDIX

    table of contentstable of contents

    12 0 1 7 P R O G R E S S R E P O R T C A P I T A L R E G I O N E C O N O M I C D E V E L O P M E N T C O U N C I L 1

  • EXECUTIVE SUMMARYEXECUTIVE SUMMARY

    This report reflects the healthy return on that investment of time, energy and expertise progress that has accelerated as we have drilled down on key strategies and sectors that hold the greatest promise for our communities.

    Guided by Governor Andrew Cuomos vision of a truly collaborative approach to regional economic development, the Council has focused on communicating to the community that we believe that investing in our people, our organizations and our communities is the best bet we can make on our collective future.

    The proposed projects in this report represent a wide spectrum of innovators, thinkers, builders and doers. People who are starting new businesses. People who are expanding existing businesses. People who are taking risks to maximize the potential benefits for our community.

    The projects recommended for support reflect a comprehensive vision for our community. They come not just from individuals in the business and the nonprofit sectors, but also from local governments and higher education. Included in these proposals are projects that will enhance the conditions for businesses to take hold and thrive, for employment to increase and for underserved communities to seize new opportunities.

    All of these projects were developed with a commitment to public engagement, following plans informed by large and small meetings, conference calls, workshops, face-to-face connections, networks of creatorsall working toward the same goal of building a better way of life in all of our communities. And thats how the Capital Region Creates.

    Over the past seven years, the Capital Region Economic Development Council (CREDC) has worked to build an economic ecosystem that supports and attracts new ideas and opportunities across our region.

    Last year, the Council adopted the Capital Regions 2015 Upstate Revitalization Initiative proposal, Capital 20.20, as the foundation for our strategic plan going forward. Its themes represent the Councils progress in mapping the regions economic DNA, with five years of investments and seeing the results of those investments.

    The five themes in Capital 20.20 take the Councils 2011 strategic plan to the next level, focusing on the sectors and strategies we know hold the greatest promise. We are also meeting our goals by advancing our regional cluster plan of Research and Development to Commercialization. By harnessing our R&D engines a