Voice of Business Blog

Budget Includes Nearly $20 Million to Support Higher Education Projects in Strategic Workforce Sectors
   

Includes $96 Million to Construct and Revitalize Necessary Transportation Infrastructure and $15 Million to Upgrade Green Spaces

Governor Kathy Hochul today announced details of key proposals from her Fiscal Year 2024 Executive Budget to grow jobs and boost the economy in the Finger Lakes region of New York.  In line with the 2023 State of the State, the budget includes a major investment to increase housing supply and expand economic opportunity and innovation in the region.   

"My administration is not just talking about making the Finger Lakes region more affordable, more livable, and safer - we are providing the resources to make it happen," Governor Hochul said. "These significant investments in housing, the growing semiconductor manufacturing industry, education, and infrastructure will create more opportunities for New Yorkers and ensure that the region remains prosperous for generations to come."    

Several of the budget proposals Governor Hochul announced today are in line with the Economic Innovation Plan announced in the 2023 State of the State to grow jobs and businesses by expanding economic opportunity and innovation across New York State through targeted investments, business support and other programming aimed at high-growth industries. The Governor's budget also includes several initiatives to invest in higher education and improve local attractions across the state. For the Finger Lakes Region, the plan includes:    

• $2.6 billion in School Aid for the Finger Lakes Region   
• $222.5 million increase in Foundation Aid   
• $96 million for transportation funding, including to replace the I-490 bridges and renew the pavement on Route 104   
• $20 million to further modernize Cornell AgriTech's Center of Excellence for Food and Agriculture  
• $45 million for GO SEMI: Governor's Office of Semiconductor Expansion, Management and Integration, which will support the expansion of the semiconductor manufacturing industry throughout Upstate New York, which is already underway with projects like Edwards Vacuum building a $319 million facility in Genesee County's Science & Technology Advanced Manufacturing Park and Corning Inc. expanding their advanced optics production in Fairport 
• $17 million to expand technical training, including the nation-leading precision optics program, which provides much-needed technicians for the semiconductor industry    
• $15 million to upgrade parks across the region to add and improve much-needed green space 
• $10 million to expand the Susan B. Anthony Museum & House to include a new visitor center to accommodate significantly more visitors to one of Rochester's main attractions 
• $4.5 million to build a Running Track Bridge as part of the ROC the Riverway initiative   
• $1.4 million for Finger Lakes Community College Health Care Training Facility projects   

Empire State Development President, CEO and Commissioner Hope Knight said, "Governor Hochul's forward-thinking budget proposal includes smart economic development strategies that will ensure communities statewide have the resources needed to support businesses and residents alike. These focused, transformative investments in education, workforce development, infrastructure, and affordable housing demonstrate her ongoing commitment to lifting up our local economies. These impressive Finger Lakes projects will work to fuel economic growth, creating jobs and catalyzing new investments helping to move this beautiful region forward."   

State Senator Jeremy Cooney said, "Investment from New York State is critical for our region's growth and development. I am grateful for Governor Hochul's continued commitment to our Finger Lakes Region, especially to Monroe Community College and the Susan B. Anthony House & Museum in my senate district. I will fully support the inclusion of this funding over the next few weeks in the final budget negotiation in Albany."   

Assemblymember Harry B. Bronson said, "Governor Hochul's focus on livability, affordability and safety in her budget proposal is a good framework for our state. Funding investments in the Rochester community; expanding and improving access to medical and mental health care, childcare and housing, foundation aid for our children's education and local investment such as the Susan B. Anthony House will go a long way to help our families."   

Rochester Mayor Malik D. Evans said, "Governor Hochul's proposed Executive Budget for FY 2024 reflects shared values, shared priorities and a shared belief that investing in Rochester is a great investment for all of New York State. This budget builds on transformative, State investments already underway in Rochester and will accelerate our progress on a host of critical issues, including gun-violence prevention, lead-free housing, job creation, and the improved delivery of mental health services. I want to thank Governor Hochul for her continued commitment to the Finger Lakes region and helping us advance our goals to create a safe, equitable and prosperous Rochester."