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Consolidated Funding Applications, 2017 Edition

“CFA” has been a buzz word in politics for awhile, yet few seem to understand it.  With the process now in its 7th year, the NYS website says, “The CFA process marks a fundamental shift in the way state resources are allocated, ensuring less bureaucracy and greater efficiency to fulfill local economic development needs.  Utilizing the CFA serving as the single entry point for access to economic development funding, applicants will no longer have to slowly navigate multiple agencies and sources without any mechanism for coordination…”

Especially in Putnam County there are questions as to the real effectiveness of the program. We have seen small amounts of money coming into the county, but simply not enough. It seemed easier to bring NYS money home to Putnam County under the old system, despite its flaws and allegations of corruption.

This year’s REDC initiatives will award over $800 million across the 10 economic development regions of the state, including up to $225 million in performance based grants and tax credits from Empire State Development, and about $575 million from two dozen state agency programs.  The state is emphasizing the life sciences, workforce development strategies (including collaboration with industry and educational institutions), implementation of area strategic plans with buy-in from local stakeholders (business, education, local governments, not-for-profits, etc.) and offering additional incentives to encourage such action.

The only information session for those considering the 2017 round of CFA grants to be held in Putnam County will be Monday, May 22, 2017 at 9AM at the Putnam County Training Operations Center, Donald Smith Campus, 112 Old Route 6, Carmel.  Attendees will hear this years’ current criteria, receive direction in successful preparation for their project and have questions answered by the NYS Mid Hudson’s Regional Office. Meghan Taylor, Director and Putnam County’s agent, Eric Warren will be reviewing the details.

Please let us know if you are attending as seating is limited – (845) 228-8595 or info@putnamchamberny.org .

-Jennifer Maher, Chairwoman, the Putnam County Chamber of Commerce, “A business advocacy group”

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