Gov. Andrew Cuomo recently hosted an event capping two years of an entirely new approach to economic development. A representative of the Brookings Institution described the initiative as transformational in nature and long-term in its impact. We know, firsthand, how accurate that description is.
It is worthwhile to reflect back two years, when, although the Capital Region economy was performing better than most, and disparate pockets of progress dotted the landscape, the region, the state and the nation were still reeling from the Great Recession.
A remedy came through the governor's innovative Regional Economic Development Councils. The force of his idea and leadership provided a forum for the type of collaboration that had previously eluded us. It brought representatives of the diverse elements of our eight-county economy together. It propelled us to celebrate our strengths and identify ways to overcome our weaknesses as one region.
The process led us to conclude that we must foster and strengthen the Capital Region's "economic ecosystem" by ensuring that the private sector, academia and government work more effectively and efficiently in partnership to stimulate economic growth. More importantly, the process made it more feasible for us to make progress right away.
Under the governor's direction and with the lieutenant governor's guidance, we crafted an strategic economic development agenda and began to implement it. Last year, 88 Capital Region projects received funding, and this year, 84 projects were selected for funding in the awards announced recently. The diversity and scope of these endeavors underscore the great potential of our region.
Each of our eight counties is involved in at least seven funded projects. The most rewarding projects are those that involve the broadest geographies or grandest coalitions. For example, intercounty initiatives will produce new educational and recreational opportunities like the Hudson River School Art Trail and the Hudson River Valley Greenway stretching from Columbia County to Washington County, and expand essential services such as those offered to people with disabilities by Warren and Washington Counties ARC. The collaborative process itself will generate new endeavors not yet realized.
Other success stories combine our strengths in creative ways to help people, including aiding in the revitalization of Prattsville's Main Street, devastated by the flooding from Tropical Storm Irene in 2011.
Throughout the region, critically important infrastructure projects also will get under way as a result of the council's recommendation and state funding. Also, waterfront projects will move ahead in Albany, Troy, Catskill, Saratoga Springs, Stillwater, Glens Falls, Lake George and Warrensburg. Housing projects will revitalize various inner-city and small town neighborhoods.
These diverse initiatives will create jobs, spur private investment, revitalize our cities and promote long-term sustainable growth for our region, if we stay focused on capitalizing on our strengths in high-tech, manufacturing, health, tourism and education.
Although the spotlight is often concentrated on the dollar amounts awarded, through this process we see the invaluable gain from the unprecedented collaboration across all sectors.
It is clear that this process has inspired creativity and brought experts, sectors and industries together in unprecedented ways. The entire Capital Region will be better as a result. We look forward to continuing to promote Governor Cuomo's goal of economic development that is community-based and performance-driven.
James J. Barba is president and CEO of Albany Medical Center. Shirley Ann Jackson is president of Rensselaer Polytechnic Institute. They are the co-chairs of the Capital Region Economic Development Council, serving Albany, Columbia, Greene, Saratoga, Schenectady, Rensselaer, Warren and Washington counties.