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Officials: Economic Development funding will create jobs in area

By HILARY LANE

Story Created: Dec 8, 2011 at 7:18 PM EDT

Story Updated: Dec 8, 2011 at 7:18 PM EDT

ALBANY, N.Y. (WKTV) - The Mohawk Valley is $60.2 million richer after funding was awarded to the Mohawk Valley Economic Council for their sustainability plan.

After six months of planning, drafting and meetings, the local Regional Economic Development Council traveled to Albany on Thursday to hear from Governor Andrew Cuomo on where their strategic plan ranks. Even though the local team didn't take home the top prize, plans have already been established to put the $60 million to good use.

"The money is going to help retain many critical jobs already in the Mohawk Valley that would have gone somewhere else," says Dr. Wolf Yeigh, Co-Chair of the Mohawk Valley Economic Development Council and President of SUNYIT. "Also, the new investments we are making in nanotechnology and information technology, all those will create new jobs in the new economy of high technology."

Governor Cuomo says his main goal in creating the 10 economic councils across the state was to stimulate development and help put New Yorkers back to work.

"The growth is going to come from a regional development strategy and the best thing the state can do is stimulate with and partner with the regional development strategies," says Governor Cuomo. "Each region has to put the pieces together on a regional basis."

Dr. Yeigh says the multi-million dollar grant will help steer the Mohawk Valley closer towards the path to prosperity.

"I think the funding we have received here in this round will take us forward in advancing the region," says Dr. Yeigh.

Governor Cuomo concluded the ceremony by saying even though ten regions were competing against each other, they were all united by a common goal - bringing jobs back to New York state.

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