Economic News for
Ithaca and Tompkins County
March 2021
Incodema, Salt Point Brewing & Ithaca Beer Expanding
Incodema plans to move into their new, and much larger, space on Slaterville Road in the Town of Dryden this summer. The newly renovated building will allow them to expand production. The current Incodema building aims to transform into a retreat center.

Salt Point Brewing hopes to complete their new building in May. The new space will house a larger brewery, a restaurant, and a tap room.

Ithaca Beer Co. recently announced plans to open a new location in Collegetown in August.
2021 Annual Economic Summit - March 24th
The Annual Economic Summit provides a snapshot of the local economy, highlighting recent projects and accomplishments of our local business community, and providing perspective from local business leaders about the state of our economy.

This year the focus will be on significant accomplishments from 2020 as our community navigated the public health and economic crises, shared goals for a sustainable economic recovery, and presentations from area leaders on workforce conditions and needs, our tourism economy, downtown revitalization, and more.

Special presentations by:
Heather McDaniel, CEcD, AICP, EDFP
President, IAED, and Jennifer Tavares, CEcD, EDFP, President & CEO, Tompkins Chamber
Keynote Speaker
Dr. Vicki L. Bogan, Associate Professor
Cornell University - SC Johnson School of Business
Geller Family Professor of Applied Economics and Management

COVID-19 Resources and Information
LOCAL

NEW! American Rescue Plan Act Impact for Tompkins County, Towns, and City of Ithaca
Tompkins County is projected to receive $19.82 million in aid. The City of Ithaca and towns in the county are also projected to receive significant aid under the Act.

NEW! Ithaca Tompkins International Airport (ITH) to Receive $2M in Aid from the American Rescue Plan Act

Cayuga Heath System COVID-19 Testing for Businesses
Contact Tracy Gates, Vice-President & Chief Operating Officer at Cayuga Health System at 607-351-8487 or at tgates@cayugamed.org.


FEDERAL

NEW! $1.9M American Rescue Plan Act Signed into Law
In addition to providing direct payments to individuals, aid for state and local governments, vaccine distribution, and safe reopening of schools, the American Rescue Plan also provides relief for hard hit small businesses. Funds will go to ongoing and new Small Business Administration (SBA) efforts including:
  • $7.25B additional for the Paycheck Protection Program, expanding eligibility to additional nonprofits and digital news services
  • More funds allocated for the Shuttered Venue Operators Grant program, now businesses can apply for both a PPP loan after Dec. 27, 2020, and the SVOG
  • $15B more for Targeted Economic Injury Disaster Loan Advance (EIDL) payments, plus NEW $5B for Supplemental Targeted EIDL Advance payments for the hardest hit
  • NEW: $28.6B for the Restaurant Revitalization Fund  
  • NEW: $100M to establish a Community Navigator pilot program; grants support efforts to improve access to pandemic assistance programs and resources.  

NEW! COVID-19 EIDL Loan Payments Deferred Until 2022
The SBA announced deferral of payments for all disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program, until 2022.



NEW YORK STATE

NEW! Domestic Travelers to NYS No Longer Must Quarantine as of April 1st
Domestic travelers will no longer be required to quarantine after entering New York from another U.S. State or U.S. Territory starting April 1st. Mandatory quarantine will remain for international travelers. The Department of Health still recommends quarantine as an added precaution and all travelers must complete the Traveler Health Form

NEW! COVID-19 Emergency Protect Our Small Businesses Act of 2021
This act establishes eviction and foreclosure protections for small businesses. These new protections build on moratoriums on commercial evictions and foreclosures established by Executive Order that have given New York businesses peace of mind since COVID first arrived in New York over a year ago. The legislation will initially apply to small businesses with under 50 employees that demonstrate a financial hardship, as well as small businesses with 10 or fewer units. Read More 

NEW! Legislation Grants Employees Time Off for COVID-19 Vaccinations
Under this new law, public and private employees will be granted up to four hours of excused leave per shot that will not be charged against any other leave the employee has earned or accrued. This legislation is in effect.







Local Businesses / Projects in the News
Rosie Raises $10M in Financing
IC and Cornell Receive NYS Grants
Ithaca Area Economic Development | 607.273.0005 |