TCIDA Approves Childcare Grant Program |
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The Tompkins County Industrial Development Agency (TCIDA), administered by Ithaca Area Economic Development (IAED), recently approved an Emergency COVID-19 Grant Program. The grant funds are for use in upgrading childcare facilities to allow for safer operation during the COVID-19 pandemic. The grant funds may also be used by childcare providers to purchase Personal Protective Equipment (PPE). Four grants, totaling $33,331, were awarded by the TCIDA on November 11, 2020.
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Applications will be accepted until all funds are allocated. For more information on how to apply contact Chuck Schwerin at Ithaca Area Economic Development: chucks@IthacaAreaED.org.
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Carpenter Park Project Approved |
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The Carpenter Park project was approved for a tax incentive by the Tompkins County Industrial Development Agency (TCIDA) on November 11, 2020.
Carpenter Park is a transformational mixed-use development on the Ithaca waterfront. It includes a mix of affordable and market rate housing, commercial space, and a new medical office building, as well as green spaces and shared parking.
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Recognizing IAED's Achievements |
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The Ithaca Times featured Ithaca Area Economic Development's president, Heather McDaniel, on the cover of its November 4, 2020 issue. The article focused on how the organization has supported businesses and development in Ithaca and Tompkins County since 1964, helping to grow the tax base and increase employment opportunities.
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Workforce by the #s in Tompkins County |
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In the second quarter of 2020, looking at all occupations in Tompkins County combined, there were 42,644 Tompkins County residents employed.
Of those employed Tompkins County residents:
- 38,288 (89.8%) worked within the county
- 4,356 (10.2%) worked outside the county
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There are 12,528 non-residents who commute into Tompkins County for work making Tompkins County a net importer of 8,172 jobs.
Of the 50,816 people employed in Tompkins County,
75.3% were residents of the county and 24.7% were non-residents.
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COVID-19 Testing for Businesses - Cayuga Health System is offering a reduced pricing option to employers interested in regular testing for COVID-19. For more information, contact Tracy Gates, Vice-President & Chief Operating Officer at Cayuga Health System at 607-351-8487 or tgates@cayugamed.org.
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PPP Loan Forgiveness Application - The Small Business Administration (SBA) released a simpler loan forgiveness application for PPP loans of $50,0000 or less helping streamline the loan forgiveness process.
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Reshoring and rebuilding Supply Chains - A program helping small and medium sized manufacturers assess impacts to supply chain as a result of COVID-19 as well as assist in helping identify supply chain gaps AND opportunities for reshoring of materials and finished goods.
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Empire State Digital - Helping New York State-based small businesses' ability to grow their online presence through a first-in-the-nation program with leading global e-commerce enablers, including Shopify, Square, Clearbanc, and Etsy. Read more
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Skills Courses Available Free for New York Workers - In partnership with Coursera, NYS launched a free online platform for New Yorkers to take free courses and learn new job skills, earn certificates, and advance their careers.
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Local Startup Raises More than $1M in Funding |
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Exotanium, a local company and member of Rev: Ithaca Startup Works, was founded by two Cornell professors and a postdoctoral researcher. The company provides security for cloud-stored data and applications. Over the summer, Exotanium raised more than $1 million in pre-seed funding as demand for cloud based storage grew due to the COVID-19 pandemic. Exotanium has faced challenges during the pandemic, but also embraced opportunities that allowed for expansion and hiring of more staff.
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Ithaca Area Economic Development supported Exotanium's planned growth, through the revolving loan fund. |
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Development Continues in Tompkins County - Many major development projects in Tompkins County are moving forward as developers see Ithaca as a good market to invest in long term. The Asteri, Taber Tower, and Waterworks projects are a few examples.
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Addressing Broadband Connectivity - The need for access to broadband has become even more necessary with the COVID-19 pandemic and various efforts are being made to address these needs including the $404,170 grant recently awarded to Ithaca Area Economic Development to extend a trunk line from Ithaca through Lansing.
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Ithaca Area Economic Development | 607.273.0005 |
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