Marsha Gordon, president and CEO of the White Plains-based Business Council of Westchester and Kristine Young, president of SUNY Orange based in Middletown, have been appointed as co-chairs of the Mid-Hudson Regional Economic Development Council (MHREDC).
The MHREDC is one of 10 regional councils in New York state charged with developing long-term strategic plans for economic growth for their regions. Established in 2011, the regional councils replaced the state’s old approach of dictating economic development plans from the top down with an approach that is community-based and performance-driven. Lt. Gov. Brian Benjamin serves as overall chairman of the regional councils.
Gordon said, “As a long-standing member of the business community, I have seen this model of a bottom-up, regional strategy to economic development transform our region and I look forward to serving with Kristine Young and the rest of the council to continue its many successes.”
Through competitions, the councils select and fund what are deemed to be worthwhile initiatives. The MHREDC alone has delivered over $815 million for 1,020 projects.
The MHREDC region includes Westchester, Rockland, Putnam, Dutchess, Orange, Sullivan, and Ulster counties.
Young noted, “The seven counties in the MHREDC comprise one of the most vibrant and attractive areas of New York state. I look forward to partnering with Marsha, as well as other MHREDC team members, to showcase the region”™s strengths and advance its growth well into the future.”
Members of MHREDC include executives from business including the banking community, labor union leaders and officials of nonprofit organizations. Ex-officio members include elected officials representing the seven counties and Yonkers Mayor Mike Spano.
In its 2021 Annual Report, MHREDC said that of the awards given out through its Consolidated Funding Application (CFA) process since 2011, 87% were complete or progressing and were projected to generate economic activity of more than $2.7 billion.
“The state investments have been strategic, designed to have a strong return on investment,” MHREDC said. “Every $1 of state investment in Mid-Hudson CFA projects since 2011 is projected to generate $7.50 in economic activity.”
