— — The City of Buffalo is set to receive $1 billion for economic development initiatives, Gov. Andrew Cuomo announced during the State of the State address on Wednesday afternoon.

During a nearly hour-long speech, the 56th governor of New York lauded his achievements during his first year in office, trumpeting an on-time state budget, a restructured tax system that benefits the middle class and the historic legalization of same sex marriage.

“In 2011 we accomplished much there is no doubt,” Cuomo said. “But there is also no doubt that we have just begun to do the work that the state needs to get done. We have big problems in New York, we also have new solutions.”

Presenting his plan for 2012, Cuomo gave a broad vision with few details including billions of dollars for tourism, infrastructure, education and the possibility of an economic renaissance for upstate New York - a region that has seen declines in population and jobs for nearly a half century, which Cuomo broached in noting Buffalo has the third highest poverty rate in the nation, with 28 percent of its populace impoverished.

“New York is stronger when every region of the state is strong,” Cuomo said. “We must address the crisis in Western New York, and Buffalo specifically. This is another issue that has gone on for many, many years, while the state sat by and did not take dramatic action.”

According to a statement released by the Empire State Development Corporation, the arrangement will be a multi-year deal and will be used to invite large investments from the private sector. Cuomo said he anticipates creating thousands of jobs, a sentiment that has been parroted by state leaders before, while predicting the investment will spur $5 billion in new investment and economic activity.

Cuomo presented few aspects of the plan only saying that the economic development package would include tax incentives, low cost power and grant money as part of the stimulus. The move would be in addition to $100 million doled out to 96 businesses in the region in December through a competitive grant process. He also announced that a similar offering would be available in the coming months through state Regional Economic Development Councils, totaling $200 million.  

Asemblyman Robin Schimminger said the money will go “a long way” toward bringing jobs to the area.

“This announcement certainly affirms the Governor’s commitment to the Western New York region,” Schimminger added. “ The sooner the implementation begins, the sooner we will see job growth and commerce that our region desperately needs.”

 The governor compared the prospect in Western New York to the hi-tech industry in Albany, where a state-backed initiative has led to growth in business there, including a world-class center for nanotechnology and several major semiconductor manufacturers.  

“If we did it in Albany we can do it in Buffalo,” he said “It’s gone on for too long and it’s going to stop today.”

Politicians and organizations that may benefit from the announcement were quick to praise the measure. While targeting Buffalo in particular, Cuomo’s proclamation has raised the hopes of the region at large.

“This is exactly the type of leadership and investment from the state that our region sorely needs to stop the exodus and start to grow our economy,” said newly elected Erie County Executive Mark Poloncarz.

Cuomo also called for the legalization of casino gambling, telling the more than 2,000 in attendance, which included Buffalo Mayor Byron Brown and Poloncarz, that in many ways gaming already exists throughout the state on Native American lands.

Though he did not elaborate, Cuomo said he would like to create a publicly-funded system for state political races and continue to push for an extensive overhaul of performance based assessments for teachers, while implying that the entire educational system is held hostage by lobbyists and self-serving union demands.

“After years of overspending and overtaxing in Albany, it is clear that this governor gets it,” said Heather Briccetti, president and CEO of The Business Council of New York State.

With scant particulars, Cuomo also envisions massive infrastructure work across the states including more than 100 bridges and thousands of miles of roadwork while also creating an “energy highway” that would lower costs in the downstate area.

“The scope of this undertaking is not firmly established,” said State Sen. George Maziarz. “But I stand ready to work with the governor  on the details.”