Economic News for Ithaca and Tompkins County
August 2021
Expanded Eligibility Announced for NYS COVID-19
Small Business Recovery Grant Program
NYS Governor Kathy Hochul announced expanded eligibility for the State's $800 million COVID-19 Pandemic Small Business Recovery Grant Program, allowing more businesses to apply for funding.

With the expanded eligibility, businesses with revenues up to $2.5 million can apply for grants and the limitation for businesses that received Paycheck Protection Program (PPP) loans has been increased to $250,000.
Contact Chuck Schwerin (chucks@IthacaAreaED.org) at IAED with questions about the Small Business Recovery Grant Program.
$1.1 Billion in Funding for Child Care Providers
$1.1 billion in federal funding from the American Rescue Plan and Coronavirus Response and Relief Supplemental Appropriations Act will be available directly to child care providers to help stabilize the industry and enable more parents to return to the workplace full-time, while also helping providers to replenish losses experienced during the COVID-19 pandemic. The New York State Office of Children and Family Services will manage the grant funding. Applications are now available.


Ithaca Arthaus Opening Soon!
In late September/early October, Ithaca Arthaus, located at 130 Cherry Street in the City of Ithaca, will open its doors. The project will offer 124 units of much needed affordable housing in Downtown Ithaca and transform its west end neighborhood. The $28.8M project received support from the IAED administered Tompkins County Industrial Development Agency (TCIDA), whose mission includes enhancing community vitality and supporting community revitalization. 
 
Arthaus’ developer, The Vecino Group, partnered with Tompkins Community Action to include 40 units of supportive housing dedicated to youth formerly in foster care and homeless youth ages 18-25.
 
“Tompkins County and the City of Ithaca face an ongoing shortage of affordable housing units. IAED and the TCIDA are thrilled to support innovative projects like Arthaus that move us one step closer to filling the gap between demand and availability while also enhancing our downtown and our local community.”
- IAED President Heather McDaniel

Downtown IDA Projects Moving Forward
Asteri
The Asteri project, located on the 100 block of Green Street in Downtown Ithaca, recently received $52M in funding from the New York State Homes and Community Renewal in support of projects that "develop and preserve affordable housing.” Asteri is creating a 12-story mixed-use building with 181 affordable units. The developer is partnering with Tompkins Community Action to include 40 units dedicated for supportive housing targeted to populations at risk of homelessness. The building will also include a conference center and parking garage, as well as other amenities.
The Ithacan
The Ithacan project will include three levels of parking and 200 residential rental units. Ten percent of the units will be available to households earning 80 percent of area median income or less.
Ironworks
Ironworks is a five-story, mixed-use project at the intersection of West State Street and Corn Street. The building will include rental units, commercial space on the ground floor, and parking. The project will enhance the State Street corridor and offer housing that is within close proximity to Ithaca's walkable and bikeable downtown core.
Local, State and Federal Business Assistance
Is your organization struggling with recruiting, training, or retaining employees, or facing gaps in your talent development program? If yes, the Alliance for Manufacturing and Technology (AM&T) may be able to assist you 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.
Information Session 9/7 @ 11:00am - Hosted by Rev: Ithaca Startup Works
The accelerator is funded by the Economic Development Administration and offered in partnership with the College of Engineering at Cornell University. It is a cohort-based program that supports hardware startups ready to bring their prototypes into production. Applications due September 20th. Register for Information Session

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 
In the News
Ithaca Area Economic Development | 607.273.0005 |