October 2020
TCAD is now...
New Name, New Logo, Same Mission!!
On October 21st, TCAD launched a new name - Ithaca Area Economic Development - and a new logo.

TCAD has always employed innovative approaches to strengthen our local economy and remain relevant to its community, customers, and stakeholders. The new name, Ithaca Area Economic Development (IEAD), and new logo will help support these ongoing efforts as well as enhance the organization’s commitment to its mission and values.

"Ithaca Area Economic Development better represents what our organization does and will help us be more successful in all of our ongoing and future efforts." - Heather McDaniel, President

This change was not made lightly, and only after stakeholders provided input and expressed strong support did the process proceed. The new brand will not only help grow and expand existing business, but also attract new industry to the county.

Larry Baum, Ithaca Area Economic Development Board Chair and Founder of The Computing Center, has been involved with the organization for over 20 years and views it as “essential to our businesses, local manufacturers, entrepreneurs, developers, and the community.”
Under its new name and branding, Ithaca Area Economic Development looks forward to continuing to contribute to business creation, retention, and expansion, addressing ever evolving challenges, and providing the services necessary to build a thriving and sustainable economy.
IAED Awarded $404K for Broadband Extension
Ithaca Area Economic Development received a $404,170 grant from the Appalachian Regional Commission’s POWER Initiative! We'll use this support to construct a 17-mile fiber broadband trunk extension from Ithaca to the recently retired Cayuga coal plant in Lansing. This is one of 51 recently announced POWER projects aimed at strengthening and diversifying Appalachia's coal-impacted communities.

Thank you to the Appalachian Regional Commission for this funding award!

Reliable, high speed access to the internet is critically important to businesses, first responders, schools, residents, and others. Safety and economic prosperity increasingly depend on this resource. This new line will benefit a planned data center at the recently retired, coal fired, Cayuga Power Plant, and will also benefit residents, presenting opportunity for increased connectivity.
Ithaca Area Economic Development Wins Excellence in Economic Development Award
At the International Economic Development Council (IEDC) virtual annual conference on October 15th, Jim Fram, the co-chair of IEDC's Accredited Economic Development Organization (AEDO) Committee presented TCAD (now IAED) with an excellence in economic development award.

The awards are given to excellent and deserving economic development organizations. To succeed in today's challenging business environment, economic development organizations must demonstrate strong leadership and credibility, while successfully differentiating themselves at the highest levels.
The review team lauded IAED as an organization with talented and committed staff and an organization that enjoys strong support from its partners.

IAED is the first Accredited Economic Development Organization in New York State. Read more
Business Resources
COVID-19 Testing for Businesses
Cayuga Health System is offering a reduced pricing option to employers interested in regular testing for COVID-19.

If your business would like more information, please contact Tracy Gates, Vice-President & Chief Operating Officer at Cayuga Health System at 607-351-8487 or tgates@cayugamed.org.
Personal Protection Equipment (PPE) Regional Resources
The Covid-19 Economic Development Resource Providers Group created comprehensive lists of back-to-work guidance (lists can be found on the IAED website), including PPE manufacturers and providers, aimed at helping the region move forward in uncertain times. 

Here is a list of places you can purchase PPE to help address current Covid spikes and the prospect of more to come.

There is no time like the present to make sure you're ready for the future!

Members of the resource group are listed on the IAED website. Please contact IAED or any group member for help or more information.
Re-Shoring and Rebuilding Supply Chains - COVID Recovery Initiative
The New York State Manufacturing Extension Partnership (MEP) is engaging in a program to help 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. 
Growing Small Business Online Presence Through Empire State Digital Initiative
Governor Cuomo announced Empire State Digital, a new initiative accelerating 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
Simpler SBA Application for PPP Forgiveness
The Small Business Administration (SBA) released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,0000 or less. This will help streamline the loan forgiveness process.
Rheonix Hires 80 New Employees as Demand for COVID-19 Testing Equipment Increases
iFyber Awarded $4.2 Million from DoD
Our Community
Ithaca Companies Finalists in GrowNY Competition
Two Ithaca based companies, Halomine and Norwhey are included in the 20 finalists for the GrowNY competition, a food innovation and agriculture technology business challenge focused on enhancing the emerging food, beverage and agriculture innovation cluster in Central New York, the Finger Lakes and Southern Tier regions. Finalists were chosen from a field of over 260 startups that applied to be part of the initiative. Congratulations!
Local Company Wins $500,000 in 76West Competition
Combplex, a local Ithaca company, won $500,000 as one of four winners in the 76West Clean Energy Business Competition. The 76West Competition helps foster the growth of clean-tech startups working to commercialize new technology. Congratulations, Combplex!
Ithaca College Returning to In Person in 2021
Ithaca College announced plans for students to return to on campus learning for the 2021 spring semester. The semester will begin with remote instruction and expand from there to in-person, and hybrid formats.
Transformation Center Wins Award of Merit
Congratulations to HOLT Architects and CFCU Community Credit Union’s Transformation Center for receiving Historic Ithaca’s Award of Merit in Historic Preservation!
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