by Stephen Kimball
For Immediate Release
June 29, 2008
For More Information:
Contact: Stephen Kimball
607-273-0005
stephenk@tcad.org
Novomer Receives Loan from Tompkins County Area Development
Ithaca, NY, Novomer, a new materials company pioneering a family of high-performance "green" plastics and polymers, has received a loan through Tompkins County Area Development's revolving loan fund. This loan will help Novomer expand its current office and laboratory facilities in the South Hill Business Campus.
The expansion will allow Novomer to bring all its chemists together in one location, upgrade analytical technology capabilities, hire more staff and bring new materials to commercialization.
In addition to the support from TCAD, Novomer has received several National Science Foundation (NSF) awards to fund research, including grants from NSF's Small Business Innovation Research program.
According to Scott Allen, Novomer co-funder and VP of catalyst development, "Ithaca was the perfect place to start Novomer. In addition to being near its technological roots at Cornell University, we were able to grow the company quickly by recruiting locally from an extremely bright and talented pool. TCAD's recent support has allowed us to expand our facilities and bring in state-of-the-art equipment to continue our growth."
About TCAD
Tompkins County Area Development, Inc. (TCAD) is a private, not-for-profit organization founded in 1964 that provides the Ithaca area with innovative services to strengthen the economy. TCAD is dedicated to building a thriving and sustainable economy that improves the quality of life in Tompkins County by fostering the growth of business and employment. While working with business, not for-profit, higher education, and public sector organizations, we fulfill our mission by assisting in the formation, retention, expansion, and attraction of target businesses. As the community's lead economic development agency, TCAD offers financial assistance, technical assistance and real estate development services. TCAD is responsible for creating and implementing the comprehensive economic development strategy for the county that provides leadership to create a supportive economic environment. In addition, TCAD manages both Tompkins County’s Industrial Development Agency (IDA) and Empire Zones Program.
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Novomer Receives Loan from Tompkins County Area Development
Tompkins County Area Development
200 East Buffalo Street, Suite 102A Ithaca, New York 14850 ( 607 ) 273 - 0005 |