Governor Kathy Hochul has announced the launch of the 2026 Regional Economic Development Council (REDC) Initiative, a statewide program designed to support regional growth through competitive funding and strategic planning.
The initiative continues New York’s “bottom-up” economic development model, where 10 Regional Economic Development Councils identify and prioritize projects that align with local and state economic goals. In 2026, regions will compete for funding through the $150 million ACHIEVE competition, which supports high-impact initiatives aimed at driving long-term economic expansion.
The ACHIEVE program, short for Advancing Collaboration for High-impact Initiatives for Economic Visions & Expansion, will award up to $50 million to the strongest regional proposals. Regions may also collaborate on multi-regional projects eligible for up to $75 million in funding. The competition builds on a similar 2025 round that supported major investments in Long Island, New York City, the Mohawk Valley, and the Southern Tier.
In addition to ACHIEVE funding, up to $60 million in Regional Council Capital Funds will be made available through the 2026 Consolidated Funding Application (CFA). The CFA process allows applicants to access funding from more than 20 programs across multiple state agencies through a single application window.
The application period for CFA programs opened immediately and will run through July 31, 2026, at 4 p.m. Some programs will continue accepting applications on a rolling basis until funds are exhausted. Regional Councils will evaluate and score project proposals based on alignment with regional strategies and economic development goals.
Since its creation in 2011, the REDC initiative has supported more than 11,000 projects and helped drive over $9 billion in investment across New York State. Officials say the 2026 cycle will continue to prioritize job creation, infrastructure development, and long-term regional competitiveness.
State leaders emphasized that the initiative strengthens collaboration between government, business, academia, and local organizations to ensure economic development reflects the needs of individual regions while supporting statewide growth objectives.
