NY Organizations Awarded $755 Million to Create Jobs

2017 Regional Economic Development Council Award Winners

NEW YORK CITY—More than 1,000 projects across New York State were awarded $755 million in economic and community development funding. On Wednesday, Gov. Andrew Cuomo announced winners of the 2017 Regional Economic Development Council Competition.

New York City received $64.8 million to support 121 projects. Below are three of the award winning projects:

B. New York City was awarded $1.9 million to be the flagship US location of B. Amsterdam, the largest startup tech incubator in Europe. It will provide flexible workspace and consulting assistance to foreign tech companies, starting businesses in the US. The grant will support a $28 million construction renovation to build the incubator, with a 2018 completion date.

Celatix, a biotech company that works on products to improve fertility and women’s health, received $4.5 million to expand its business office space. It will also add over 3,000 square feet of laboratory space. The $12.5 million project is expected to begin in early 2018.