NORWICH – Just one week away from hearing if they’ll profit from a $500 million spurt in economic development, local governmental and business leaders sat down with Lieutenant Governor Kathy Hochul on Wednesday to illustrate a blueprint of what some of that funding could do for Chenango County.

Lt. Gov. Hochul held roundtable discussions with a number of business representatives in Norwich on Wednesday. Issues focused heavily on the business needs of the community, including workforce development and easing the tax burden for local businesses.

Hochul said that while she’s not a decision-maker in the process to determine winners of the half billion dollars of Upstate Revitalization Initiative funds, her visit gave her a better pulse of what’s happening in the area – and she can take that message back to the State Regional Economic Development Council.

The Souther Tier is one of eight regions competing for one of three top prizes in the 2015 round of URI funds. Hochul pointed out that the Southern Tier has done well in the previous four rounds of the URI competition, collecting more than $300 million for numerous projects throughout the eight counties that make up the region.

Winners of the fifth round of URI funds will be announced next Thursday.

In addition to spotlighting the needs of area businesses, Wednesday’s conversation also detailed the boon a URI would have on the local economy.