• Home

Will We Really Get $500 Million?

By Jason Weinstein.
So just what made the Southern Tier's proposal good enough to grab the $500 million dollar prize in the Upstate Revitalization Initiative? And will we actually see half a billion dollars?.

Assemblywoman Donna Lupardo says the high level of detail in the Southern Tier's plan helped put it over the top. She also says much of the $500 million dollar prize will be in the form of cash assistance from the state.

"Keeping in mind that most of these projects have an 80-percent private-dollar match, the state is providing 20 percent, it's a lot of private money. So that $500 million investment is going to be leveraging well over $2 billion in private money," said Lupardo.

The state has already pledged $117 million to 100 projects in the Southern Tier's plan.