Economic News for Ithaca and Tompkins County
January 2022
Message from IAED President Heather McDaniel
I have never been so excited to usher in a New Year! While 2021 was in many ways more challenging than the one before, we ended the year with an outstanding list of accomplishments: projects that will grow the high-tech and manufacturing sectors, increase the tax base, create and retain quality jobs, and revitalize Downtown and the West End/Waterfront. Welcome, 2022! No doubt that it will also be full of twists and turns as the economy staggers forward, but IAED is steady as she goes. We’ll quarterback the countywide economic recovery strategy, provide business services in collaboration with partners and stakeholders, and lead projects focused on energy, broadband, housing, and workforce. Oh, and we’ll also kickstart redevelopment of the Chainworks site. We’ve got a lot to do, and we’ll do it. Count on it.
New York State Capital Development Grants
The grant application period for Empire State Development remains open. Applications are reviewed on a rolling basis until funds are exhausted. Funds can be used for investments that enable private sector businesses or capital projects that create or retain jobs and are generally available for up to 20% of eligible costs, which include:

·      Acquisition of land, buildings, machinery and/or equipment
·      Demolition and environmental remediation
·      New construction, renovation or leasehold improvements
 
Applicants with strong, shovel-ready projects are encouraged to apply. Contact IAED for more information, to assess eligibility, or for assistance with the application process.
IAED Leadership
IAED President, Heather McDaniel, is set to be a panelist on the “Planning for a Zero Carbon Economy” session at the International Economic Development Council’s Leadership Summit in Coachella Valley, CA, January 30th–February 1st. She will highlight the work of the Tompkins County Industrial Development Agency to support energy efficiency and renewable energy alongside colleagues from California, Washington, and Maryland.
State of the State
Governor Kathy Hochul presented her State of the State address on January 5th, during which she proposed an ambitious agenda with a strong focus on economic development policies and programs that will move New York’s economy forward. Specifically, she introduced the Market/Shovel Ready and Restore New York programs. Her commitment to modernizing infrastructure, supporting small business, improving the MWBE certification process, strengthening the workforce system, promoting downtown revitalization, investing in rural communities, and growing strategic industries is vital to rebuilding the economy and improving quality of life in communities across the state. IAED is eager to learn more about these programs and funding when the executive budget is released in the coming weeks.
COVID-19 Updates
Tompkins County recently updated quarantine and isolation guidance and self-testing.
 
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Ithaca Area Economic Development | 607.273.0005 |