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Project Highlights

Recent projects TCAD has completed include:

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.

BorgWarner Morse TEC
TCAD took the lead on an incentive package that leveraged a $47 million investment by the company; 174 new jobs are projected to be created over the next few years. Our Empire Zone will deliver most of the incentives based on actual company performance. Other assistance came from Senator Nozollio and Empire State Development.

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. 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.

Concept Systems
This company came to TCAD with a plan to acquire and renovate a multi-story building on the Ithaca Commons. A package of incentives was structured that included loans from TCAD and a regional program, an interest rate subsidy from the State and, in the long term, Empire Zone benefits. The company invested over $1 million in the project.

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.

Global Phoenix Phase 2
The IDA delivered standard incentives to help this local company build a 53,000 sq. ft. addition. Their initial building also used IDA incentives. The company plans to create 23 new jobs. Based on performance, they also may be eligible for Empire Zone incentives form the State.

Plastisol Composites
This project is a joint venture between a Netherlands-based company and experienced local entrepreneurs. A new 20,000 square foot facility will be built in the Town of Groton to produce fire truck and emergency vehicle bodies using composite materials. IDA incentives helped leverage a private sector investment of $1.3 million that will lead to the creation of 27 new jobs.

RPM Ecosystems
TCAD worked with New York State Senator James L. Seward to secure a Capital Improvement Project Grant for $100,000 towards the building of RPM Ecosystems international headquarters located in Dryden.

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 square foot building is already occupied by several manufacturing companies.

Upstate Millwork
TCAD delivered a low interest loan to this relatively new custom wood working company to help with the purchase of equipment. They are located in the South Hill Business Campus, a multi-tenant building that received IDA benefits in the past and that is also in the County’s Empire Zone.

Tompkins County Area Development
200 East Buffalo Street, Suite 102A
Ithaca, New York 14850
( 607 ) 273 - 0005