Governor Hochul launches 2026 Regional Economic Development Council initiative

Albany, New York – New York State is moving into a new phase of its long-running regional development strategy, as Governor Kathy Hochul has officially announced the launch of the 2026 Regional Economic Development Council (REDC) Initiative. The program continues a decade-long effort to reshape how economic investment decisions are made across the state, placing local leaders, businesses, and community stakeholders at the center of planning and funding decisions.

At its core, the REDC initiative is built on a simple idea that has shaped New York’s economic development approach since 2011: local regions know their strengths and challenges best. Rather than relying solely on centralized decision-making, the state empowers ten regional councils to design strategies that reflect their own economic realities, industries, and long-term priorities.

Governor Hochul emphasized the importance of this structure while announcing the 2026 launch, pointing to the collaborative nature of the program and its role in shaping investment across New York.

“The dedicated work of the Regional Economic Development Councils, focused on encouraging public-private partnerships, has had a transformational impact throughout New York State,” Governor Hochul said. “I am looking forward to seeing the regionally designed plans that build on the success of the ACHIEVE competition, creating investment opportunities that will help to build a more sustainable, successful future for all New Yorkers.”

This year’s initiative brings with it a major funding opportunity tied to the state’s competitive approach to regional development. Through the $150 million ACHIEVE competition, regions will compete for resources aimed at supporting large-scale, high-impact projects designed to spark economic growth and long-term job creation.

The ACHIEVE program, which stands for Advancing Collaboration for High-impact Initiatives for Economic Visions & Expansion, was introduced in 2025 as a way to accelerate transformative regional projects. It encourages collaboration not only within individual regions but also between regions that may choose to submit joint proposals.

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Under the 2026 structure, each eligible Regional Economic Development Council can submit a proposal for a major initiative. The strongest submissions may receive up to $50 million in funding to support anchor projects. In cases where multiple regions collaborate on a shared proposal, funding levels can reach as high as $75 million, creating incentives for broader partnerships across regional boundaries.

However, not all regions will be competing this year. Those that received awards in the 2025 cycle, including Long Island, New York City, Mohawk Valley, and the Southern Tier, will continue implementing their previously selected ACHIEVE proposals and will not participate in the 2026 competition.

State officials say this staggered participation helps ensure continuity while allowing new regions to step forward with fresh proposals. Each participating council will be expected to develop a detailed implementation plan, focusing on “shovel-ready” projects that can quickly translate funding into real-world impact.

Alongside ACHIEVE funding, the broader Consolidated Funding Application (CFA) process is also now open for 2026. The CFA serves as a single entry point for multiple state funding programs, streamlining access to grants, tax credits, and other forms of support from a wide range of agencies.

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For 2026, applications tied to programs with fixed deadlines must be submitted by Friday, July 31 at 4 p.m. However, certain open-enrollment programs will continue to accept applications beyond that date until funding is fully allocated. Officials encourage applicants to review program details carefully and plan submissions accordingly.

The CFA system continues to expand in scope. This year’s application process includes funding opportunities from more than 20 programs across eight state agencies and authorities. This structure allows applicants—from municipalities to nonprofit organizations and private companies—to pursue multiple funding streams through a single coordinated process.

Regional councils play a key role in this system. Once applications are submitted through the CFA portal, councils review and score proposed projects based on how closely they align with regional strategies and priorities. These scores are then factored into final funding decisions, reinforcing the importance of local input in statewide economic planning.

To support applicants, CFA workshops will be held across New York State in the coming months. These sessions are designed to help potential applicants understand program requirements, eligibility rules, and evaluation criteria. A full schedule of workshops is available through state resources.

The REDC process, according to state officials, continues to evolve but remains grounded in its original mission: empowering regions to shape their own economic futures. Over the years, the initiative has directed more than $9 billion in funding to over 11,000 job creation and community development projects statewide.

That scale of investment reflects the long-term commitment behind the program, which has become a central pillar of New York’s economic development strategy. By combining competitive funding mechanisms with regional planning, the state has attempted to balance statewide goals with local priorities.

Secretary of State Walter T. Mosley, who serves as Regional Economic Development Council Chair, highlighted the collaborative nature of the initiative and its impact on communities across New York.

“Over the past two years as Secretary of State, I’ve witnessed firsthand the power of collaboration and community-driven planning through the work of the Regional Economic Development Councils. Across New York State, regions are coming together to identify projects that will create jobs, strengthen local economies and improve quality of life for residents for years to come. I’m grateful to Governor Hochul for her continued support of this successful approach to economic development and look forward to seeing this year’s ACHIEVE proposals.”

Empire State Development President, CEO, and Commissioner Hope Knight also underscored the importance of regional input in shaping economic policy.

“The Regional Councils continue to serve a vital role in advancing the state’s economic priorities – especially locally, where they often create the greatest positive effect on everyday New Yorkers. This year’s round of multi-agency funding, which includes round two of Governor Hochul’s ACHIEVE initiative, will focus on strategic investments for high-impact projects that generate sustainable growth in communities throughout New York State.”

Each of New York’s ten Regional Economic Development Councils operates as a public-private partnership. Members include representatives from business, academia, local government, and nonprofit organizations. Together, they develop long-term strategic plans tailored to their regions’ specific economic strengths and needs.

These plans are not static documents. Instead, they are updated regularly to reflect shifting economic conditions, emerging industries, and evolving workforce demands. In 2026, each council will also be required to produce an annual report outlining regional progress, implementation efforts, and updates on ACHIEVE-related initiatives.

Officials describe this reporting requirement as a way to maintain accountability while ensuring that long-term planning remains grounded in measurable results. It also allows the state to track progress across regions and identify successful strategies that may be replicated elsewhere.

Since its creation in 2011, the REDC initiative has been credited with reshaping how New York approaches economic investment. Rather than relying solely on top-down distribution of funds, the program has introduced a competitive, locally driven model that encourages innovation and collaboration.

Supporters argue that this approach has helped strengthen regional economies, improve coordination between public and private sectors, and generate more targeted investments in infrastructure, workforce development, and business expansion.

More information about the initiative, including program guidelines and resources, is available through the official Regional Councils website at regionalcouncils.ny.gov.

As the 2026 cycle begins, attention now turns to how regions will respond. New proposals, new partnerships, and new priorities are expected to emerge as local leaders work to position their communities for future growth under the evolving framework of the REDC initiative.