Economic News for Ithaca and Tompkins County

July 2023

Heather McDaniel Highlights Major Chip Fab Manufacturing Announcement

Menlo Micro, a California-based microelectronics manufacturer, announced it will invest over $50 million to open the company’s first domestic fabrication facility in the Cornell Business & Technology Park in Lansing. The company produces cutting-edge switches for microchips that are smaller, produce less heat, and are more efficient. The technology is a spinout of General Electric's Global Research Center in the Hudson Valley.

IAED President, Heather McDaniel, said “The former Kionix site was perfect, with a fabrication facility already inside. Attracting Menlo Micro adds good paying jobs and new tax base to the local economy. To the extent possible, providing shovel ready sites and existing buildings is critical for attracting semiconductor and supply chain companies; I think this is the beginning of more to come.”

Read more about the announcement and hear Heather’s comments here:

• WHCU Radio >
• NewsChannel 9 WSYR Syracuse >
• Governor Hochul’s Press Release >
• Ithaca Voice >

JOB ANNOUNCEMENTS

Ithaca Farmers Market Seeks Capital Campaign Manager

The Friends of the Ithaca Farmers Market is seeking a Capital Campaign Manager to facilitate a capital campaign for site and facility improvements at the Ithaca Farmers Market. The IFM was awarded a $3.2 million dollar grant which requires a 15% match and seeks to raise between $600,000 and $1 million dollars in support. The Campaign Manager will work in collaboration with an IFM/Friends of IFM campaign steering committee to develop a case statement and supporting outreach materials, build a donor database and outreach strategy, and develop procedures for donor stewardship.

Contact Friends of IFM President, Monika Roth, at (607) 216-2077 or mr55@cornell.edu for more information.

FUNDING OPPORTUNITIES

Tourism Capital Grants Now Open for Fall 2023

Applications for Fall 2023 Tourism Capital Grants are now being accepted by the Tompkins County Department of Planning and Sustainability. Tourism Capital Grants support major investments in visitor-generating projects such as theaters, parks, museums, and other cultural and recreational attractions. Funds can be used for design, renovation, and new building projects; investments in unique permanent installations such as exhibits; and feasibility studies of potential projects. The typical award range is between $5,000–$100,000. Applications open July 17^th with a deadline of August 31^st.

Visit the Tompkins County website for additional information and learn more about grant guidelines. Interested applicants are strongly encouraged to schedule a pre-application meeting with IAED by emailing kurta@IthacaAreaED.org.

NYS Consolidated Funding Application Open, Available for 30 Programs

Governor Hochul recently announced the launch of Round XIII of the Regional Economic Development Council Initiative. Round XIII includes core capital grant and tax-credit funding combined with a wide range of programs from 10 State agencies, including $150 million in grant funds from Empire State Development, available to projects on a continuous basis. Projects that address strategic priorities–including green building and sustainable development, childcare, distressed communities, and innovative public-private partnerships are eligible for additional award funding.

New this year, two new micro programs will award capital grants to support NYS craft beverage manufacturers and non-profit organizations, and a new $30 million Challenge competition will award $10 million to up to three regions to implement creative solutions to tackle persistent barriers to economic growth. Read the Governor’s press release here or access the CFA application and resources here.

CALENDAR

Calling All Manufacturers: How It’s MADE Event at TCC, 9/27

Regional manufacturers are invited to attend the Manufacturing and Development Expo (MADE) event at Tompkins Cortland Community College on September 27, 9am – 2pm. You’ll get to engage regional high school students and showcase your work at this free, highly interactive community event. Register here by July 31.

Visit Ithaca Area Economic Development's Website