Capital Region Upstate

Revitalization Initiative

Community Update

1 |

What are we going to do today

What today is What today is not

▪ Chance to play back what we

heard from you in earlier sessions

▪ Collection of new ideas for the

submission

▪ Opportunity to review the latest

guidelines for the URI competition

▪ Broad discussion about the “wish

list” for economic development

▪ Chance to engage on the

strategic areas of the URI plan

and understand some of the

priority initiatives

▪ “Reveal” of specific projects

including names of partners and

detailed costs

2 |

Why is this important - We are at an inflection point

0.9% GDP growth

▪ Compared to 1.6%

(US) and 1.5% (NYS)

-5% Labor force

growth

▪ Labor force

contracted by ~25,000

people 2008-2014

0.2% Average Popu-

lation growth

▪ Residents over 65

expected to grow at

2.5%

1.4% Private GDP

growth

$57,000 Median HH

income

▪ 2nd highest in URI

eligible regions

▪ Grew at 1.9% per

year

5.6% Unemploy-

ment rate

▪ Lowest among URI

eligible regions

▪ Decreased by 6%

per year since 2009

▪ Employment growth

at 1.3%

3 |

URI a Component of the CREDC Progress Report

4 |

CFA Update

>over 250 CFA applicants

Total priority requests:

$43,723,813

Total Project costs =

$215,845,208

Leverage for priority projects=

80 percent

5 |

URI Stakeholder Engagement

Local community engagement

1:1 sessions, focus groups, town halls, council meetings, etc. 3500+

1700+ Online interactions

Online submissions, Facebook likes, survey participation,

etc.

People hours spent in design sessions

Detailed, tactical working sessions 750+

Global expert interviews

1:1 sessions with global leading experts on specific Capital

Region opportunities 100+

6 |

Governor’s Remarks

7 |

URI criteria

New private

sector jobs

Attract

private firms

No “build it

and they will

come”

5:1 private

match Regional

collaboration

Bold &

innovative

8 |

Our Five URI Strategies

Tech Valley

2.0

Distribution

& Logistics

Entrepreneurship

Urban

Revitalization

Next-Gen

Education

Cluster

9 |

Proposed URI strategies

Tech Valley

2.0

Build-off previous successful high-tech investments, and the

globally renowned Tech Valley brand, by developing new priority

and fast-growing high-tech clusters in population healthcare,

clean-tech, and gov-tech.

This strategy will augment current assets to:

▪ Attract new companies, talent, and international recognition

▪ Create jobs and increase regional productivity

▪ Help government deliver on bold priorities

10 |

Proposed URI strategies

Leverage the Capital Region’s unique geographical location

▪ Proximity to NYC and other major markets

▪ Northern most 12-month port

▪ National rail/road connections

Catalyze shipping and distribution activity to:

▪ Increase competitiveness of local businesses by reducing

shipping and input costs

▪ Link Capital Region businesses to external markets

▪ Connect upstate NYS with global demand

▪ Create critically important new middle-skilled jobs

Distribution

& Logistics

11 |

Proposed URI strategies

Next-Gen

Education

Cluster

Further develop Capital Region’s “education cluster” to enhance

the Capital Region’s existing higher education strengths;

systematically connect the Capital Region workforce with

opportunities for the knowledge and skill development they need

to get jobs, including historically hard-to-employ populations.

Support the Capital Region’s K-12 system to ensure students are

prepared for STEM opportunities and have the wrap-around

services needed to succeed.

This strategy will spur economic activity through:

▪ Attracting new students to the region

▪ Creating new jobs in our education institutions

▪ Attracting education focused companies to the growing cluster

▪ Arming local companies with critical talent needed to succeed

12 |

Proposed URI strategies

Physical transformation of the urban core to drive local economic

development. A coordinated portfolio of investments that will:

▪ Leverage our unique and diverse assets to attract residents,

tourists, and firms into our urban cores

▪ Deploy global urban planning best practices to make strategic

real estate investments that revitalize neighborhoods and drive

inclusive growth

▪ Ensure new urban investments and attention directly benefit

historically underserved neighborhoods.

Urban

Revitalization

13 |

Proposed URI strategies

Entrepreneurship

Link together and invest in the Capital Region’s strong existing

entrepreneurship ecosystem – leveraging the region’s

colleges, universities, and corporate talent to:

▪ Attract and keep young entrepreneurs

▪ Launch and nurture the emblematic Capital Region

companies of the future

▪ Ensure a vibrant small business economy across all 8

counties

▪ Focus on critical local sectors with potential to scale

14 |

Our Five URI Strategies

Tech Valley

2.0

Distribution

& Logistics

Entrepreneurship

Urban

Revitalization

Next-Gen

Education

Cluster

▪ Population

Health Tech

Cluster

▪ Rensselaer

Clean Tech

Station

▪ Gov-Tech

Cluster

▪ Port

Modernization

& Expansion

▪ Fulfillment Hub

▪ Education

Cluster

expansion

▪ Workforce

Solutions

Center

▪ Cradle to

Career pipeline

▪ Urban Catalyst

Projects

▪ Urban

Neighborhood

Fund

▪ CDTA

expansion

▪ Creative Economy

Accelerator

CRAFT Business

Fund

▪ R&D

Commercialization

Catalyst

5 7

8

10

11

4 6 9 12

13

14

2

1

3

15 |

Our plan is mutually reinforcing

Strategy

Tech Valley 2.0

Distribution

& Logistics

Next-Gen

Education

Cluster

Entrepreneurship

Urban

Revitalization

Tech Valley 2.0 Distribution

& Logistics

Next-Gen

Education

Cluster

Entrepreneurship Urban

Revitalization

16 |

Mapping Against Prescribed URI Themes

Strategy

Distribution and

Logistics

Tech Valley 2.0

Next-Gen

Education Cluster

Entrepreneurship

Urban

Revitalization

17 |

Questions?