IAED Annual Meeting

IAED held its annual meeting and presented a report to the community at the Ithaca Marriott on May 15^th. Nearly 100 area business leaders, partners, and elected representatives were on hand to review IAED’s 2023 accomplishments and preview its ongoing and future projects across Central New York. IAED’s role in supporting regional partnerships around Micron in Syracuse and the Binghamton battery tech hub was illustrated by presentations from IAED President Heather McDaniel and Chris Montgomery, Director of Business Affairs for SUNY Educational Opportunity Center.

McDaniel shared, “This area is on the precipice of tremendous change, and IAED is at the forefront of harnessing the opportunity to improve economic prosperity for all. I’m proud of the IAED team, our community, stakeholders, and investors. I’m excited about our shared future.”

In 2023, IAED reported stimulating $163 million in private investment, $10.3 million in new property taxes, and $14.5 million in new payroll. It also facilitated future construction of 294 housing units (of which 25% are affordable) and payments of $913,000 into the Community Housing Development Fund to support affordable housing across Tompkins County. All are increased over the previous year.

Read the full 2023 annual report >>

IAED, City of Ithaca Attend DRI / NY Forward Forum in Watkins Glen

IAED and representatives from the City of Ithaca attended a forum intended to spur interest and provide insight into the Downtown Revitalization Initiative (DRI) and NY Forward grant programs. Held in Watkins Glen, the event was moderated by Deputy Secretary of State, Kisha Santiago, and featured panels of mayors, developers, business leaders, and state officials. The forum is the first step in Ithaca’s renewed attempt to secure a DRI grant; IAED and City representatives shared notes following the event and will continue to coordinate outreach in advance of a fall application.

IAED’s Direct to Work Program Graduates First 2024 Cohort

In early May, IAED’s Direct to Work – Pathways to Manufacturing program graduated its first cohort of 2024! All six graduates have received their Certified Manufacturing Associate (CMfgA) certification and are interviewing with their selected manufacturers.

The Pathways to Manufacturing program is a full-time, four-week training program to equip people with the technical skills needed by area manufacturers. Students gain a comprehensive understanding of production processes and spend an entire day with each participating manufacturer. Upon completion, participants get a one-time $500 stipend, guaranteed interview with a participating manufacturer, and sit for the CMfgA exam.

For more information about Pathways to Manufacturing or to register for the upcoming summer information session, please:

• Visit our website >> 
• Or contact Mary Holland-Bavis at (607) 273-0005 or directtowork@ithacaareaed.org

NYS Consolidated Funding Application Open, Funding Available for 20+ Programs

Governor Kathy Hochul announced the launch of Round XIV of the Regional Economic Development Council Initiative. The latest round includes $45 million in core capital grant and tax credit funding along with a host of programs from 8 different state agencies, including $100 million from Empire State Development (ESD).

Regional Councils are encouraged to support projects that address or advance strategic state priorities, including distressed communities, childcare, innovative public-private partnerships, and green buildings and sustainable development. Projects satisfying the goals will be eligible for an enhanced incentive.

Two new programs include the Capital Improvement Grants for Pro-Housing Communities – which awards funds to projects inside so-designated localities – and the Small Manufacturer Modernization Grants Program to help small legacy manufacturers invest in modernization and integration of advanced technologies.

• Read the Governor’s press release >>
• Access the CFA application and resources >> (detailed information can be found at the bottom of the resources page under the “REDC Guidebook 2024” tab)
• For more information, contact IAED at (607) 273-0005

NYSERDA On-the-Job Training Program

The NYS Department of Labor is offering a NYSERDA On-the-Job Training Program to energy-efficient or clean energy businesses to reduce the financial risk of hiring and training new employees. The program provides reimbursement of up to 75% of a new hire’s wages for their first 4-6 months of employment. Businesses in high-efficiency HVAC, building controls, insulation, and other clean energy technologies are eligible to participate.

On-the-Job Training Program information >>