Project Highlights

  • Advion BioSciences – Working both with Advion and a local real estate developer, the IDA approved incentives to this local biotech firm for a new state-of-the-art facility. The investment in the new 33,000 sq. ft. facility and equipment will exceed $7.5 million. Forty new employees will be added to the current workforce of eighty-seven.

  • Ithaca College – The IDA issued $50 million in bonds to Ithaca College to help them refinance existing debt. This is the second time the IDA has assisted the College to access the tax-exempt bond market.

  • Cayuga Green II – The IDA approved local tax incentives to this proposed large scale mixed use project in the City’s urban core. Through an innovative agreement that is getting national attention, the level of property tax abatement is tied to project performance.

  • MPL – Tax incentives were delivered to this local electronics firm for a 7,000 sq. ft. addition valued at $600,000. The company currently employs twenty-eight people and will create ten new jobs over the next three years.

  • Fingerlakes Engineering – TCAD provided a low interest working capital loan to help this electronics design and consulting firm. They are located in an upper story of a building on the Ithaca Commons and represent the type of business the community is trying to retain and grow.

  • TC3 Foundation – The IDA issued $6.9 million in tax-exempt bonds to finance the construction of a new 51,000 sq. ft. dormitory. This is the third Foundation project the IDA has financed.

  • Gateway Commons – As part of its commitment to revitalizing the City of Ithaca’s urban core, the IDA delivered incentives to this $5.6 million housing project. Providing a broad range of housing opportunities is a key component of the Ithaca Downtown Partnership’s long-range strategy.

  • South Hill Business Campus – Providing flexible, affordable space for growing businesses is critical to creating new jobs. The IDA delivered incentives to a local developer to assist in the redevelopment of the old NCR facility on South Hill. This 270,000 sq. ft. building is already occupied by several manufacturing companies.
Ithaca - where innovation and culture converge
Tompkins County Area Development
200 East Buffalo Street, Suite 102A
Ithaca, New York 14850
( 607 ) 273 - 0005