We are excited to announce that we have a new name – Ithaca Area Economic Development – and a new logo!
Ithaca Area Economic Development better represents what we do and will help us be more successful in all of our ongoing and future efforts. The name change will also strengthen our ability to continue as a leader in economic development, providing innovative solutions and dedicated services to our business partners.
We look forward to continuing to contribute to business creation, retention, and expansion in Ithaca and Tompkins County, addressing ever evolving challenges, and providing the services necessary to build a thriving and sustainable economy.
Check out the video below to see more about our new name and logo!
Reopening References: your source for returning to work and life!
The COVID-19 Economic Development Resource Providers Group created annotated lists of back-to-work guidance and industry playbooks, financing options, and PPE manufacturers and providers, all aimed at helping you move forward!
Members of the group include TCAD, Tompkins County Chamber of Commerce, Downtown Ithaca Alliance, Visit Ithaca, the City of Ithaca, Tompkins Workforce New York, Small Business Development Council, and Alliance for Manufacturing & Technology.
Please contact TCAD or any group member for help or more information.
Guidance and industry playbooks for reopening.
Financing references and resources for reopening.
Personal Protective Equipment (PPE) for reopening.
COVID-19 News & Resources
Ithaca Area Economic Development is proud to have joined with community partners (Tompkins Chamber, Downtown Ithaca, Ithaca is Gorges (Ithaca & Tompkins County Tourism), Ithaca Mayor Svante Myrick, Tompkins County Health Department, Ithaca Flair) in contributing to the making of the #MasksAreGorges video!
“My Mask Protects you; your mask protects me.”
“We are all in this together.”
Resiliency Resources for Tompkins County Businesses
The Resiliency Resources for Tompkins County document includes essential financial, workforce, general, and health resources, from local, state, and federal sources, during the COVID-19 crisis.
TCAD Emergency Relief Loan Program
IAED Emergency Relief Loan Program
Ithaca Area Economic Development (IAED) is introducing a short-term emergency relief fund for businesses in Tompkins County that have been impacted by the Coronavirus pandemic.
- Prevent staff reductions
- Allow business operations to continue
- Offset losses related to the Coronavirus COVID-19
Loan terms:
- Maximum amount offered for this 36-month loan is $50,000
- Interest rate is 2.5%
- Principal and interest payments are deferred for one year
- There is no equity requirement
Eligible Borrowers:
- Legally recognized forms of business, including sole proprietorships, partnerships, corporations, limited liability companies, limited liability partnerships, professional service corporations, not-for-profit corporations, and cooperatives.
- Business must be located in Tompkins County, must provide evidence of loss in revenue or cash flow within the last 60 days, and must be currently operating, even if only remotely.
Eligible Loan Uses Include:
- Working capital (including payroll coverage)
- Inventory
- Equipment
- New marketing efforts
- Other reasonable business expenses
The loan may not be used to pay off existing loans or debt.
There is no cost to apply. There are no closing costs and no filing fees.
Loans will be available until funds are committed or until October 1, 2020.
For further information and to request an application please contact Chuck Schwerin at chucks@IthacaAreaED.org.
Ithaca Area Economic Development (formerly Tompkins County Area Development (TCAD)) focuses on economic development in Tompkins County. Since 1964, Ithaca Area Economic Development (IAED) has continued to work tirelessly to grow, retain, and attract companies that provide high-quality employment opportunities. We strive to create a supportive environment for entrepreneurship and business development. Regardless of the economic times, we have continued to achieve successes.
Incentives and Programs
Tompkins County Development Corporation
TCDC promotes economic development initiatives in Tompkins County by offering tax-exempt bonding opportunities to not-for-profit organizations. Learn More
Industrial Development Agency
TCIDA delivers economic incentives to business and industry to diversify and strengthen Tompkins County’s tax base and enhance community vitality. Learn More
Loan Funds
Revolving Loan Funds are a popular economic development tool, delivering high risk capital to projects that cannot be financed by conventional sources. Learn More
Tourism Capital Grants
Ithaca Area Economic Development administers the Tourism Capital Grants program which supports capital projects at tourism destinations in Tompkins County. Learn More
Finger Lakes Regional Prosperity Network (FLRPnet)
FLRPnet extends the capacity and reach of economic development efforts in Tompkins County and the greater Finger Lakes region. Learn More
Tompkins County Economy and News
Learn more about the Tompkins County economy below and sign up for our economic newsletter for the latest in economic news every month.
Economic Data
Tompkins County Traded Sectors and local sectors by the numbers. Learn more
Workforce
The area also attracts experienced and skilled workers from afar for specialized employment opportunities. Learn more
Startup Community
The startup community brings together University, city and private sector partners to make Ithaca the best place to launch and grow a startup. Learn more