2025 Regional Economic Development Council Initiative CFA Process Now Open

May 21, 2025

Governor Kathy Hochul has announced the opening of this year’s Regional Economic Development Council Initiative and Consolidated Funding Application (CFA) process. The application portal is now open and Capitalize Albany staff is available to assist applicants located within the City of Albany. To date, through the REDC Initiative, more than $8 billion has been awarded to more than 10,000 job creation and community development projects consistent with each region’s strategic plan.

Corporation staff will coordinate requests for letters of support from the Office of the Mayor and resolutions from the City of Albany Common Council on behalf of local applicants when required. Applicants intending to request a letter of support or a municipal resolution must complete the Project Intake Form—available via the link below—and submit it to Capitalize Albany Corporation no later than 5:00 p.m. on June 26, 2025, to ensure timely coordination of supporting materials. Completed forms may be sent via email to [email protected] or delivered to our office at 21 Lodge Street, Albany, NY 12207. 

Download the Project Intake Form here

For reference, the form includes links to information on the 2025 statewide funding priorities and regional economic development strategies to assist applicants in aligning their proposals.

Collage of five images at the top, each depicting different work or educational environments: a young woman using a hammer at a construction site, an aerial view of a city and river, people in lab coats working in a modern laboratory, a worker operating a red forklift in a warehouse, and a group of young adults assembling or working on electronics at a table. Below these images, the large yellow numbers "2025" are centered on a blue background, which is semi-transparent and overlays faint images of construction equipment and a bridge.

About the 2025 Regional Economic Development Council (REDC) Initiative

The 2025 Consolidated Funding Application (CFA) portal is now open. For programs subject to the annual deadline, all applications must be submitted by Thursday, July 31, 2025, at 4:00 p.m. Open enrollment programs are not subject to this deadline and will continue to accept applications on a rolling basis until funding is fully allocated.

This year’s CFA includes grant funding and tax credits available through more than 20 programs administered by eight State agencies and authorities. The Regional Economic Development Councils will evaluate submitted projects and assign scores based on how well each aligns with the region’s strategic goals and statewide priorities.

New for 2025, the Governor has introduced the $150 million Advancing Collaboration for High-impact Initiatives for Economic Visions & Expansion (ACHIEVE) competition. This initiative empowers REDCs to advance catalytic economic development projects with enhanced implementation support to jump-start regional growth.

Additionally, up to $60 million in Regional Council Capital Funds will be available in the 2025 CFA to support projects that advance regional strategies and state priorities. This includes up to $8 million in capital funding for tourism-related projects, previously offered through the Market New York program, aimed at strengthening New York’s tourism economy.

Local Support & Technical Assistance

Please note: Not all CFA programs require a formal municipal resolution. However, programs that do require one may deem an application ineligible if the resolution is not included. Applicants are strongly encouraged to consult the 2025 Available Resource Guide to determine individual program requirements prior to submission.
Capitalize Albany staff is available to provide technical assistance and help applicants determine which documentation and materials are required. For direct assistance, contact Kaylie Hogan-Schnittker at [email protected] to schedule a call or in-person meeting.

Important Deadlines and Resources

All applications subject to the July 31 deadline must be submitted through the CFA Application Portal by 4:00 p.m. on Thursday, July 31, 2025.

Helpful Resources:

For questions or assistance with submitting your application, please contact Capitalize Albany Corporation staff at [email protected] .
You can also learn more by visiting the New York State Regional Councils website or the Capital Region Council’s page.