Economic News for Ithaca and Tompkins County
October 2021
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NYSEDC 2021 Economic Developer of the Year Award |
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The New York State Economic Development Council (NYSEDC) recognized its entire membership with the Robert T. Dormer Economic Developer of the Year award at its Annual Meeting on September 28, 2021 in Cooperstown, NY.
The NYSEDC is the state’s principal, nonprofit membership organization representing public, private, and nonprofit economic development professionals from throughout the state of New York. IAED is a member of NYSEDC and IAED's president, Heather McDaniel sits on NYSEDC's board of directors.
The NYSEDC acknowledged that the COVID-19 pandemic disrupted lives, economies, supply chains, and created a global economic crisis that impacted every community in New York State.
Every one of NYSEDC's members played a critical leadership role in their community. They were met with the challenge of supporting their business community and workforce during the worst economic crisis of the century. They continue to work hard to reposition, repurpose, and rebuild their communities and economies and make them stronger, and more resilient. They all deserve special recognition.
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Ithaca Area Economic Development's team from right to left: Kurt Anderson - Director of Development and Strategy, Ina Arthur - Manager of Administrative Services, Margaret Frank - Director of Communications, Heather McDaniel - President, Chuck Schwerin - Managing Director of Business Services. |
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Asteri Ithaca Project Holds Groundbreaking Ceremony |
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The Asteri Ithaca project held a groundbreaking ceremony in early October, celebrating the affordable housing project, that will also include a parking garage and conference center. Representatives from the City of Ithaca, Industrial Development Agency (IDA), Tompkins County, the development team, and State all praised the project and how it will add much needed affordable units as well as boost the economy of downtown Ithaca.
The project received incentives from the Tompkins County IDA, which is administered by Ithaca Area Economic Development, and the Chair of the IDA Board, Rich John, spoke at the ceremony.
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Asteri Ithaca is located 120 E. Green Street next to City Hall. The $104.8 million project will be home to 181 affordable housing units, approximately 350 parking spaces (243 more than previously available), and a 54,291 square foot conference center. The estimated 63,000 additional visitors brought into the county by the conference center are expected to have a significant impact on the local economy, increasing sales tax receipts for the City and County, supporting local businesses with increased traffic, and leading to the creation of thousands of new jobs. |
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McDaniel Presents on Local Housing Efforts at IEDC |
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IAED president, Heather McDaniel, presented on a panel addressing rural efforts to support affordable housing at the International Economic Development Council (IEDC) annual conference in Nashville on October 14th. The presentation highlighted the workforce housing policy at the IDA and the Community Housing Development Fund. In the first year of the workforce housing policy, the IDA has approved five projects that will develop 1,039 housing units of which 243 will be affordable units and $2.9 million will be invested into the Community Housing Development Fund to support additional affordable units.
Heather is a member of the IEDC board of directors and IAED is the first economic development organization in New York State to receive certification from the IEDC as an Accredited Economic Development Organization (AEDO).
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Tompkins County Creates Recovery Fund Program |
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The Tompkins County Legislature has approved the use of up to $7 million of the county government’s unassigned fund balance to fund a Community Recovery Fund Program.
The program would provide grants in support of community recovery following the negative impacts of the COVID-19 pandemic. More details on the availability of funding and program guidelines are to be determined and will be shared widely once codified.
Legislators expressed excitement at the prospect of this fund contributing to the community’s human services and economic recovery among other important initiatives.
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Local, State and Federal Business Assistance |
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The Alliance for Manufacturing and Technology (AM&T) may be able to assist your business in developing a comprehensive plan that identifies and addresses your workforce needs. AM&T offers guidance for workforce training and development, attraction and retention, compensation and benefits, employee and labor relations, and more.
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The OJT program helps businesses bring on new employees and get them skilled up to be successful in their new position. Contact: Tompkins Workforce NY Career Center at 607-272-7570. or Cindy Sloan, Workforce Development Specialist, at csloan@tompkins-co.org
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Ithaca Area Economic Development | 607.273.0005 |
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