Economic Newsletter | July 2019 | Visit our Website
TCAD's Advance Tompkins Investment Initiative a Success
TCAD recently celebrated the conclusion of Advance Tompkins, TCAD's five year investment initiative, announcing that we reached 98% of the $1.9M goal for the next five years.  Major employers, service providers, and community organizations invest to support the work TCAD does to build a thriving and sustainable economy that we all benefit from.  Investors account for about one-third of TCAD's budget.

As part of the Advance Tompkins initiative, TCAD developed bold economic goals for the next five years including $500 million in new capital investment, $33 million in new payroll, 3,450 retained jobs, and 550 new jobs.
The Advance Tompkins Initiative's success is due to the support of local businesses and organizations. Thank you to our investors for believing in our mission and the work we do in support of business creation, retention and expansion - contributing to a thriving and sustainable economy.
Public Hearing on NYSEG Rate Case
In May, New York State Electric & Gas (NYSEG) filed a rate case, asking the Public Service Commission (PSC) for permission to charge increased gas and electric rates to take effect in April 2020.

The public is invited to comment on NYSEG’s request at a public hearing in Ithaca on:

Wednesday, August 14th
BorgWarner Room
(Tompkins County Public Library)

1:00 pm - Public information session
2:00 pm - Public comments begin
Comment will be used by the PSC to determine whether NYSEG needs to upgrade the local grid. Businesses may want to address power quality and reliability issues and/or quantify the impact of service interruptions on your business.

Other ways to comment are specified on
pages 5-6 of the PSC’s announcement including emailing the Secretary for the Commission ( secretary@dps.ny.gov ) or commenting online (click below).
City Centre Opens Downtown
The City Centre Project, located at 301 E. State Street, has opened its doors and by August is expected to have 90% occupancy.

The project redeveloped an underutilized property in the heart of Downtown Ithaca, replacing a one-story commercial building with an eight-story, 218,211 SF building. City Centre offers 192 market rate apartments and retail/commercial space that will soon be occupied by Ithaca Ale House and Collegetown Bagels (CTB).

The Tompkins County Industrial Development Agency (TCIDA) approved an enhanced incentive package for using renewable energy and energy efficiency measures, including air source heat pumps to replace natural gas heating. This $52 million project will contribute an estimated $3.1 million in new property taxes over 10 years.
City Centre
Emmy's Organics Receives TCIDA Tax Incentive and TCAD Revolving Loan Fund Program Approval
Emmy's Organics is a local business started in 2009 producing organic cookies that can be found in stores across the U.S. including Starbucks, CVS, and Wegmans. The company is in the process of purchasing the F&T Distributing building in Dryden.

Emmy's currently employs 27 people and plans to add five more employees with the expansion to the larger space. With TCAD's assistance, Emmy's application for an incentive package from the Tompkins County Industrial Development Agency (TCIDA) has been approved. Emmy's also received approval for a loan from the TCAD Revolving Loan Fund Program.
New York State 2019 MWBE Forum

The Ninth Annual Statewide MWBE Forum will be held October 2nd-3rd in the Empire State Plaza Convention Center, Albany.

"It is a once-in-a-year opportunity to meet the right people, identify the latest projects and business opportunities, learn what you need to know about government procurement and leverage a two-day experience into 365 days of business success."

This year’s theme, Lead the Nation, highlights the State’s leadership in strengthening opportunities and providing economic empowerment prospects for minority-and women-owned businesses.


USDA Awards Grant to Expand FoodBIP Program

The USDA has approved an $86,500 Rural Business Development Grant to the  Finger Lakes Regional Prosperity Network . The grant will fund the Food Processing Business Incubation Program ( FoodBIP ) for 12 months, through 2020. FoodBIP will be able to expand its industry-specific technical assistance to small and emerging food and beverage processing businesses to a nine-county Finger Lakes region. This project builds on FoodBIP’s four-county pilot during 2019.
Live in Ithaca
Newsletter and Relocation Guide Magazine Now Available

Live in Ithaca is a workforce attraction and retention initiative of the  Tompkins County Chamber of Commerce, created with the goal of supporting private, non-profit, and public employers in Tompkins County.

The initiative features a comprehensive career and community guide website, an integrated marketing campaign, and bi-annual print magazine - highlighting our career opportunities, our engaged community, and our exceptional quality of life.
 
Visit  www.liveinithaca.org to explore over 200 employers and over 500 community resources.
 
 

Tompkins County Area Development | 607.273.0005 | info@tcad.org | www.tcad.org