Warren Road Sewer
TCAD staff worked with the Town of Lansing to facilitate a $2.5 million municipal sewer extension to serve businesses in the Warren Road Business Park where seven businesses with over 300 employees are located. Further business expansion in the Park depends on municipal wastewater collection. All local and State approvals were secured, and design and construction documents completed. TCAD successfully applied for a $400,000 grant on behalf of the Town to reduce costs to the businesses. Construction should begin in the summer of 2010.
Tompkins County Development Corporation
On January 31, 2008, our IDA’s ability to issue tax exempt bonds for the benefit of local not-for-profit employers expired as the State failed to reenact what is commonly called Civic Facility legislation. Before that, the IDA had issued $461 million in bonds for 24 projects. In response, TCAD encouraged the Tompkins County Legislature to create a new legal entity that could assist our local not-for-profit community. Now TCAD manages the Tompkins County Development Corporation and is actively marketing it to our past users of Civic Facility bonds. The TCDC has all of the authority the IDA had and provides a very cost effective and responsive alternative to State issuers of tax exempt bonds.
Revolving Loan Funds
TCAD has managed revolving loan fund programs since 1989, offering relatively high-risk loans via flexible terms to local companies that have the documented potential of creating good jobs. Since then we have loaned $1,666,000 to 51 companies that, in turn, created 874 new jobs.
In 2008, new grants significantly increased TCAD’s loan funds, allowing us to expand this successful program. In the last year, TCAD has made loans valued at $537,000 to:
- Novomer
- Adenios
- e2e Materials
Business Retention Visits
While attracting new companies to a community is what most people define as economic development, new job creation usually comes from companies or entrepreneurs already in a community. That is why TCAD visits key local employers on a systematic basis. These visits provide us with an early opportunity to help companies with expansions or with the challenges they may face. Unlike most economic development agencies, we collaborate with our colleagues at the Workforce Investment Board and other community-based agencies on these visits.
Finger Lakes Entrepreneurs Forum
Back in 1995, TCAD provided administrative support to a group of local entrepreneurs attempting to start a networking organization for high tech start-ups. Since then, the Finger Lakes Entrepreneurs Forum has become a critical resource for networking and information for new or growing small businesses in the region. The Steering Committee of FLEF recently asked TCAD to once again provide administrative support to the organization.
Water/Sewer Infrastructure
TCAD took the lead on managing a study of county-wide water and sewer infrastructure working collaboratively with the Tompkins County Council of Governments — representing sixteen local municipalities — as well as County government. The study documented and evaluated existing water and sewer infrastructure, and prepared conceptual water and sewer plans with a focus on the rural centers. The study is intended to help municipalities achieve cost savings and increased efficiency through shared services and increased density of housing development. It is intended to support key economic goals of development of new housing supply and revitalization of commercial centers to reduce the cost of doing business and create a more competitive economic environment in the County.
Workforce Strategy
In 2006, TCAD’s Economic Development Strategy identified “improving workforce skills” as one of three key economic development goals for 2007 to 2011. Soon after, it became clear a major strategic planning effort was required — one that would reach beyond the staff efforts of workforce agencies to engage all workforce development stakeholders.
TCAD and the Workforce Investment Board partnered over two years to create a strategic plan for workforce development in Tompkins County. The Tompkins County Workforce Strategy provides direction for a coordinated and effective response to urgent talent issues stemming from rapid economic globalization, integration of technology into occupations, and dramatic demographic change.
The Key Goals are:
- Increase the number of work-ready, basic-skilled workers
- Retain and attract more young adults
- Prepare for the wave of baby-boomer retirements
- Facilitate and enable the recruitment of workers for specialized occupations
- Reduce underemployment and its accompanying underuse of talent
- Increase the workforce system’s capacity to manage near-term challenges and opportunities TCAD and the Workforce Investment Board will continue to work hand in hand going forward to create great career opportunities and skilled talent here in Tompkins County.
On behalf of the County, TCAD manages a grant program to support capital projects at local tourism destinations. In 2009, the Tourism Capital Grants program awarded over $340,000 to:
- Kitchen Theatre
- Cayuga Nature Center
- Hanger Theatre
- Ithaca Motion Picture Project
- Ithaca Children’s Garden
State & Federal Grants
TCAD has become much more active in acquiring grants from the State and federal government to help local job creating businesses or for critical community infrastructure projects. Our role may be as simple as organizing meetings or acting as a conduit for the flow of funds from Washington or Albany. In other situations we may identify a need, author a grant application and manage a project. Recent examples of this important type of work include:
- Primet Precision Materials
- BorgWarner MorseTEC
- C&D Assembly
- RPM Ecosystems
- Shared Municipal Services Initiative grant for preparation of the Countywide Intermunicipal Sewer and Water feasibility Study — $69,074 from NYS Department of State
- $66,000 toward the Tompkins County Workforce Strategy from
- NYS Empire State Development for a regional labor market study.
The Empire Zone Capital Credits Program supports projects undertaken by non-profit organizations in the Zone. Donors to non-profit capital campaigns are eligible to receive a 25% tax credit on donations over $1,000. Five not-for-profit projects raised $731,321 in donations for bricks and mortar projects in the Empire Zone. $182,830 in State tax credits were delivered to 143 donors. Projects were as follows:
- 7th Art Cinema (Cinemapolis)
- Family and Children’s Service – Phase I
- Family and Children’s Service – Phase II
- The Finger Lakes Wine Center
- The Kitchen Theatre
Tompkins County Empire Zone
2007 marked the first full year of New York State’s Empire Zone Program here in Tompkins County. By all measures, the Zone has exceeded expectations. Thirty-four businesses were Zone Certified in 2007, projecting 762 new jobs and $91 Million in capital investments over the next five years New York State rewarded our Zone by doubling administrative funding support after receiving excellent marks on our first annual performance review. The Tompkins County Empire Zone Development Plan was updated and approved. The plan outlines goals and strategies to promote business development in the Zone, identifies the types of businesses that are eligible to receive Empire Zone tax incentives, establishes minimum job creation and investment thresholds, and establishes performance review measures.
1,200 property owners/businesses were notified of the Zone designation and potential for State tax
incentives. An Empire Zone Workshop was held as well as a number of smaller presentations targeted at specific industries and locations. The Capital Credits Program was established. It offers a 25% tax credit to equity investors in Zone certified businesses, and individuals and corporations donating $1,000 or more to community development projects undertaken by non-profits located in the Zone.