2021 New York State of the State – 4th Speech
On Thursday, January 14, 2021, Governor Cuomo delivered his final speech outlining his 2021 agenda (find summaries of his previous speeches here). Some of the items covered in today’s speech include:
- Broad Based Economic Stimulus, Focusing on Public Sector Job Creation and Investment
- Transportation Investment including Mass-Transit Capacity Downstate
- Broadband Investment
- Infrastructure Investment
- Education Investment
As noted in our previous updates, Governor Cuomo traditionally releases a briefing book containing a comprehensive outline of his agenda. Once that book is released, we will analyze it and communicate pertinent items to our clients.
Here is the newest proposal that Governor Cuomo issued today:
Summary:
On Monday, January 11, Governor Cuomo issued his 11th State of the State address, commencing a series of four speeches outlining his 2021 agenda. The Governor’s
speech detailed the difficult situation that New York is currently in, from the financial difficulties facing the State, to the public
health crisis, to the economic crises facing New York’s economy.
The Governor delivered his second speech outlining his agenda on Tuesday, January 12, further focusing on the State’s COVID-19
re-opening and vaccination plans.
On January 13th, Governor Cuomo delivered his third speech outlining his agenda, focusing on building the Green Economy in New York State. The Green Economy expansion will focus on off-shore wind, bringing renewable energy to Upstate New York, energy storage, and training a Green Energy Workforce.
2021 Reimagine/ Rebuild/ Renew Highlights
Governor Cuomo released his final outline of the 2021 Reimagine/ Rebuild/ Renew agenda highlights, which details the Governor’s plan for infrastructure projects, including downstate development, airport and transportation investment, and upstate infrastructure investment intended to increase commerce, tourism, and jobs.
Summary of project highlights:
Midtown West Redevelopment in New York City – $51 billion plan, 196,000 jobs.
Establishing new outdoor spaces, affordable housing, improved public transit and pedestrian connections, and commercial and affordable housing opportunities. Planned projects will include: Replacement of the Port Authority Bus Terminal; Developing the Empire Station Complex (reconstructing and expanding the existing Penn Station); Affordable Housing and Community Restoration; Constructing a Waterfront Park at Pier 76; and a 1.2 million square foot expansion of the Javits Center.
Modernizing New York Airports – including continuing the $8 billion LaGuardia Airport project, a $13 billion modernization project to transform John F. Kennedy International Airport; and commitment of an additional $100 million to upstate airport economic development and revitalization.
Mass Transit – including Phase II of Second Ave Subway Extension and the $2.6 billion Long Island Railroad Third Track project.
Highways, Roads and Bridges – including $1.7 billion for direct access to/from Hunts Point Food Distribution Center; $150 in I-390/490 Interchange Improvements (Monroe County); a $95 million project to re-deck the Newburgh-Beacon Bridge; and $1.9 billion to replace the Syracuse I-81 Viaduct.
