The state’s top economic development official says a proposed $225 million dollar investment in Rochester is a part of a wide-ranging strategy to boost economic growth in the state.
Economic Development Commissioner Hope Knight told lawmakers during a budget hearing Thursday that other aspects of Gov. Kathy Hochul’s strategy include revitalizing neighborhoods, supporting cultural institutions and improving essential community infrastructure.
“With a concentration of high-tech industries like optics, photonics and imaging, Rochester is ready to launch a resurgence, building upon these regional anchors and creating vibrant places where people want to live, work, play and visit,” Knight said.
The plans for that $225 million are still being developed, but Knight said it would be modeled after a similar investment in Albany that lawmakers approved last year.
“We would envision having a stakeholder group prioritizing projects and then putting together a work plan,” Knight said.
That process is currently underway in Albany.
While questioning Knight during the hearing, Sen. Jeremy Cooney, D-Rochester, said he wants the city to have more flexibility than Albany was given to spend the money.
“We are also looking at a little bit of a change in the language to include public safety as an opportunity for investment, because some of the planned economic development opportunities in the High Falls area also require some public safety fortification,” Cooney said.
The governor also wants to spend $75 million on a new High Falls State Park.
As for other parts of the state, Knight touted investments from Buffalo to Long Island, including the $1 billion Micron facility near Syracuse.
“The governor's executive budget expands on New York's momentum by ensuring we are not just attracting individual companies, but building nation- leading industry ecosystems,” Knight told lawmakers. “Through targeted investments, we are ensuring that the next generation of discovery from biotech to semiconductors is researched, manufactured and commercialized right here in New York.”
The governor’s budget proposal also includes millions of dollars for technology hubs and manufacturing modernization.
The Assembly and Senate are expected to release their own budget proposals next month.
