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
