Growing Greater
ROC2025 is a coordinated capacity-building initiative to drive Greater Rochester’s growth by dedicating more resources, enhancing the reach and impact of current efforts, and positioning our region to compete more effectively for jobs, investment, and talent.
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TO ACCELERATE ECONOMIC GROWTH IN GREATER ROCHESTER
To create new jobs, increase regional wealth, raise regional GDP and enhance opportunity. To invest in a world-class economic development ecosystem where incumbent businesses are thriving, new firms are locating, and the world’s best talent is choosing to live.
Greater Rochester’s economic development engine is accelerating, fueled by collaboration, strategic alignment, and a comprehensive investment strategy to outcompete peer regions. Key to that acceleration are the partners in business, philanthropy, and government that have stepped up to support ROC2025’s mission. More than $22.2M has been pledged to advance ROC2025’s capacity-building plan since 2019.
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IMPROVING REGIONAL PERFORMANCE
ROC2025 tracks regional economic performance in comparison to a peer metro benchmark group of 52 MSAs nationally. In the past four years, we’ve seen Greater Rochester’s peer-metro rank improve across a host of key measures, including:
- Annual job growth
- Gross regional product
- Unemployment rate
- Real per capita income
- Labor force growth rate
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CO-INVESTING IN COMMUNITY WEALTH BUILDING
ROC2025 serves as coordinator for the Regional Revitalization Partnership (RRP), a unique $80M co-investment among the State of New York, Ralph C. Wilson Jr. Foundation, and local philanthropies to advance transformational projects in commercial corridor revitalization, placemaking, and workforce development.
Funders are currently reviewing proposals submitted between March-June 2023, and Phase One funding decisions are expected in November 2023. The application window remains open. Interested applicants are encouraged to 1) review the call for applications, 2) download and complete a draft application, and 3) submit using the online portal at this link.
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CONVENING THE NY SMART I-CORRIDOR
President Biden and Senate Majority Leader Schumer have announced that the NY SMART I-Corridor, spanning the metros of Buffalo, Rochester, and Syracuse, has been designated as a federal Tech Hub by the U.S. Economic Development Administration. The regional consortium beat out hundreds of applications in securing one of only 31 official designations nationwide.
Authorized under the CHIPS and Science Act, the Tech Hub Program enables designated hubs to compete for Phase 2 awards of potentially hundreds of millions of dollars to accelerate business attraction, workforce development, innovation and supply chain activities in the semiconductor and related smart systems industry.
Senator Schumer’s announcement: Link
ROC2025 Press Release: Link
More on Tech Hubs: Link
