Economic News for Ithaca and Tompkins County
July 2022
IAED in the News
IAED President, Heather McDaniel, was quoted in Tompkins Weekly about rising construction costs affecting local developments.

Heather is also quoted in the CNY Business Journal announcing the latest round of the Tompkins County Tourism Capital Grant program.
Lori Brown Joins Rosie as SVP of Industry and Customer Development
Rosie recently announced Lori Brown was hired as SVP of Industry and Customer Development. Her focus will be on expanding Rosie’s e-commerce service and its independent retailer media network. Prior to joining Rosie, Lori was at Post Consumer Brands for 18 years, most recently as RVP of the West Region.
 
“Lori’s enthusiasm for independent grocers and wholesalers is legendary. She brings years of experience and a passion for our industry,” shared Rosie CEO and Cofounder, Nick Nickitas.
 
See the full announcement here.
Chloe Capital Announces Partnership with Bank of America
Chloe Capital, a seed-stage venture capital fund based in Ithaca with a mission to support women-led entrepreneurial companies, announced that Bank of America will be making a significant financial contribution to Chloe’s investment fund. 
 
“Bank of America’s investment in Chloe Capital reinforces our ongoing efforts to address the continuous gap in access to capital and to deploy more into emerging companies led by diverse entrepreneurs,” said David Cornell, President of Bank of America Albany-Hudson Valley.
 
Currently, all of Chloe Capital’s 24 portfolio companies are led by women, and the fund is widely hailed for its leadership role in promoting companies that are committed to diversity and inclusion.
Inaugural Class Starts in IAED’s Direct-to-Work Manufacturing Training Program
IAED’s Direct-to-Work manufacturing training program has launched!

Eight recent high school graduates started their fully funded, self-paced online coursework on July 5th. Participants will complete 26 one-hour modules over the next six weeks and will then take the Certified Manufacturing Associate exam and interview with area manufacturers. The program is still accepting applications through July 22nd.

For more information, contact:
Danielle Szabo, IAED Director of Workforce Innovation
Grant Funding Available for Capital Projects, On-the-Job Training
Empire State Development (ESD) Capital Grants

Deadline: July 29th at 4 pm
Purpose: Capital-based economic development initiatives intended to create or retain jobs; prevent, reduce, or eliminate unemployment and underemployment; and increase business activity in a community or region.

Eligible activities include:
1. Acquisition of existing business and/or assets
2. Demolition and environmental remediation
3. New construction, renovation, or leasehold improvements
4. Acquisition of furniture or fixtures
5. Soft costs up to 25% of total project costs
6. Planning and feasibility studies related to a capital project

Applications are made via the Consolidated Funding Application gateway and evaluated by ESD and a location-specific Regional Economic Development Council.

Award announcements are expected in the fall.

For help evaluating a project, grant guidelines, and more, contact:
Chuck Schwerin, IAED Managing Director of Business Services
Tompkins County Tourism Capital Grants

Deadline: September 12th
Purpose: Support visitor-generating projects such as theaters, parks, museums, and other cultural and recreational attractions. Funds can be used for design, renovation, and new building projects; investments in unique permanent installations; and feasibility studies of potential projects. The typical award range is $5,000-$100,000. Some matching may be required.

Grant guidelines and a link to the application portal are available on the Tompkins County website.

Interested applicants are strongly encouraged to schedule a pre-application meeting with IAED by emailing Kurt Anderson at kurta@IthacaAreaED.org.
Tompkins Chamber On-the-Job Training Grant

Deadline: Rolling
Purpose: Support people in recovery by receiving education and training support, new job opportunities, and maintaining a recovery-friendly workplace and employer base.

For more information or to schedule an appointment to discuss OJT funding, contact:
Cloud Kelley, Business and Workforce Development Specialist, Tompkins Chamber
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Ithaca Area Economic Development | 607.273.0005 |