Microenterprise Grant Program: https://survey.constantcontact.com/survey/a07eigublw8ksundimn/start
CARES Act COVID Assistance: https://lp.constantcontactpages.com/sv/OoHjvvG
The Leading EDGE Awards were instituted in 1998 to recognize companies in the Mohawk Valley who were leaders in their industrial sector and the regional economy.
In 2021 this week-long celebration will kick off with an Exclusive 20th Anniversary Reception at Turning Stone Casino and Resort on November 15th.
We also continue to remember, honor, and celebrate a founding EDGE Board member; Christopher Destito each year at this event. He was a community champion who believed in the potential of the entire region. The Christopher Destito Award was created to honor an individual who possesses the same characteristics as Chris. Since this award was not given out in 2020, we have the honor of being able to recognize two individuals for their contributions to the community.
Platinum: $15,000 sponsorship of The Leading EDGE Awards includes:
Gold: $10,000 sponsorship of The Leading EDGE Awards includes:
Silver: $5,000 sponsorship of The Leading EDGE Awards. Your company would receive:
Bronze: $2,500 sponsorship of The Leading EDGE Awards. Your company would receive:
Supporter: $1,000 sponsorship of The Leading EDGE Awards. Your company would receive:
Tickets to 20th Anniversary Reception: $250 per individual ticket
Mohawk Valley EDGE was presented with prestigious honor at NYSEDC Annual Meeting in Cooperstown, New York
Cooperstown, N.Y. – Mohawk Valley EDGE was presented with the Project of the Year award for the Cree|Wolfspeed project at the New York State Economic Development Council (NYSEDC) Annual Awards Ceremony held in Cooperstown this week.
Located in Upstate New York, the Marcy Nanocenter at SUNY Polytechnic Institute is a premier 434-acre greenfield campus developed for semiconductor and advanced technology manufacturing facilities. It is now home to Cree | Wolfspeed, who announced in 2019 that they would build a $1 billion, state-of-the-art, automotive-qualified 200mm-capable power wafer fabrication facility at the site. This fab will be the largest Silicon Carbide facility in the world and will be critical to supplying the next wave of electric vehicles (EV), 4G/5G mobile and industrial markets as Cree | Wolfspeed drives the industry transition from silicon-to-Silicon Carbide. Construction is on schedule for production to begin in early 2022. Cree | Wolfspeed has already hired almost 200 people to date and has committed to create more than 600 direct new jobs over the next eight years.
A recent U.S. Semiconductor Industry Association analysis estimated that each direct semiconductor industry job enables 4.89 jobs in other sectors of the economy. This new fab located next to SUNY Poly’s Utica Campus will open the door for new groundbreaking research and future recruitment opportunities for students in some of the most promising, high-growth, global industry technology sectors.
Mohawk Valley EDGE has aggressively developed and marketed the Marcy Nanocenter for over twenty years, an effort strongly supported by New York State, the Oneida County Industrial Development Agency, Oneida County, The Town of Marcy, National Grid, SUNY Polytechnic Institute, NY Creates and local consortia lenders led by NBT Bank, Adirondack Bank and Pathfinder Bank. In order to meet the lofty infrastructure demands of the semiconductor industry, $130 M of state, county and private money has been invested into the site to date. The Marcy Nanocenter is subdivided to serve multiple electronics/high-tech industry companies and the balance of the site is capable of supporting an additional 1 million square feet of cleanroom space. Other investments underway include the development of an on-campus supply-chain flex-space building and development of the Marcy-SUNY Parkway corridor into a mixed-use live-work environment at the gateway of the Marcy Nanocenter Campus.
“The NYSEDC is proud to recognize Mohawk Valley EDGE with the Project of the Year award for their work to attract Cree | Wolfspeed to the Marcy Nanocenter,” said Ryan Silva, NYSEDC executive director. “They have invested decades of time in planning, attracting investment, building collaborative public-private partnerships, and marketing their site. Congratulations to Steve and the entire team for the hard work and leadership. The NYSEDC would also like to thank Cree | Wolfspeed for choosing upstate New York, which further cements New York State as a global leader in the semiconductor industry.”
“Mohawk Valley EDGE, the lead developer of the Marcy Nanocenter site, thanks the New York State Economic Development Council for this prestigious award of Project of the Year for Cree | Wolfspeed’s Mohawk Valley Fab,” said Steven J. DiMeo, President of Mohawk Valley EDGE. “New York State and specifically Upstate New York has a flourishing nanotechnology and advanced computing ecosystem, leveraged by its rich manufacturing heritage. We want to recognize and thank Cree | Wolfspeed for selecting Marcy Nanocenter as the site for their game-changing investments and contributing to the developing power electronics ecosystem.
Gregg Lowe, CEO Cree | Wolfspeed shared his congratulations, “We congratulate Mohawk Valley EDGE for this recognition and are honored to play a role in the economic development of the Mohawk Valley region as part of our long-term commitment to the community. Cree | Wolfspeed is proud of the team and our partners like Mohawk Valley EDGE for the tremendous progress achieved in such a short period of time. We look forward to further supporting the area’s workforce as we begin production at the world’s first 200mm Silicon Carbide fab early next year. For more than 30 years, NYSEDC has been the state’s principal organization representing economic development professionals, colleges and universities, and public-sector enterprises. Its members include IDAs, local development corporations (LDCs), banks, underwriters, bond counsels, utilities, chambers of commerce, real estate developers, business incubators, workforce organizations, and private corporations. The NYSEDC Economic Development Awards program recognizes the state’s best economic development programs and partnerships, marketing materials, influential leaders, and rising stars. These awards honor organizations and individuals for their efforts in creating positive change in urban, suburban, and rural communities.
About the NYSEDC: The New York State Economic Development Council is the state’s principal, nonprofit membership organization representing public, private, and nonprofit economic development professionals. Its mission is to provide strong leadership that delivers cost-effective value to members through advocacy, professional development, communications, and networking. NYSEDC has been serving New York’s economic development professionals for more than 30 years. Its 900+ members work to build vibrant, diverse, and sustainable communities throughout New York state.
584 Phoenix Drive
Rome, New York 13441
For immediate release:
Tuesday, January 12, 2021
Photos available upon request
MOHAWK VALLEY EDGE ELECTS THREE NEW DIRECTORS TO JOIN BOARD OF DIRECTORS AND APPROVES SLATE OF OFFICERS
The Mohawk Valley EDGE Board of Directors elected three new members to their 52 member board at their Annual Meeting this past December. A full slate of officers for this year were also elected for 2021.
Ronald Belle, CEO and President of AmeriCU Credit Union, and Ryan Thompson, Chief Operating Officer and Vice President of Operations of Rome Memorial Hospital, were both elected to 3-year term vacancies. Bill Bower, Vice President – Business Development Officer at Pathfinder Bank was elected to a vacancy with 2-years remaining on his term. In addition, Justin Hummel, CEO of Hummel’s Office Plus, and Geno DeCondo, Executive Director at Upstate Cerebral Palsy were elected as Vice-Chairs; Patrick Becher, Executive Director at Mohawk Valley Water Authority was elected as Treasurer. Mr. Rocco F. Arcuri Sr. is the current Chair of the Board of Directors and is serving his final year of a two year term.
“We’re excited to fill our board with three new members who will bring distinct expertise and insight to our efforts to advance the Mohawk Valley’s economy,” said EDGE Board Chair Rocco Arcuri. “We have worked intentionally to ensure MV EDGE’s Board of Directors represents a variety of experts from higher education, local leadership, and regional business, and our newest board members are no exception.”
Mohawk Valley EDGE’s Board of Directors is currently comprised of 52 business and community leaders from Herkimer and Oneida Counties. These directors represent our region’s economic fabric including the finance and insurance sector, advanced technology, manufacturing, higher education, and medical among many others.
“Members of the Board represent the top employers and community leaders in Oneida and Herkimer Counties. As EDGE works to assist our local companies and attract new businesses to the region it is important for the Board to understand our region and support our mission,” said EDGE President Steven J. DiMeo.
Mohawk Valley EDGE is a not-for-profit corporation dedicated to strengthening and growing the economy of the Mohawk Valley.
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Contact: Jennifer Waters, 315-338-0393
The objective of the Utica Industrial Development Corporation (UIDC) COVID-19 Loan Program (the “Program”) is to help existing businesses in Oneida and Herkimer Counties remain viable after the effects of the COVID-19 pandemic. This program assists businesses cover short-term working capital needs as well as capital expenses that build business resilience to COVID and other potential disasters.
Program Eligibility Criteria
* Must be a registered NYS for-profit legal business entity [excluding “sin businesses,” which include but is not limited to smoke shops, liquor stores, gambling facilities, and tanning salons];
* Must be located within Oneida County or Herkimer County. Priority is given to those within UIDC’s target investment area, which is generally defined as the urbanized area connecting the Cities of Utica and Rome, and the Village of Herkimer;
* Applicant firms must have 25 or fewer FTE employees and be in existence since January 1, 2019;
* Businesses must demonstrate financial losses directly attributed to the COVID-19 pandemic;
* Applicant must present a reasonable likelihood for long-term viability.
Financial Assistance Characteristics
* Loans will range in size from $5,000 to $25,000;
* Interest will be three (3%) percent for the term of the loan;
* Loan payments are be deferred for the first three months, followed by a three-month interest-only period. Principal-and-interest payments may range from 24-60 months, based on the needs of the applicant;
* No physical collateral required, however, personal guarantees of ALL owners of the applicant will be required;
* No application fee; $250 underwriting/closing costs will be capitalized in the loan;
* No prepayment penalty;
* Due to limited nature of funds, the amount loaned may be less than the amount requested by the applicant.
*UIDC reserves the right to provide funding at its sole discretion.
We hope you are staying safe and healthy. EDGE is closely monitoring the coronavirus situation and its impact on public health across the state, our local economy and our own operations. Health and government officials are working together to maintain the safety, security, and health of the American people. Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy. Please call the EDGE office (315-338-0393) if your businesses is experiencing any issues. We are here to assist.
Governor Cuomo issued an Executive Order requiring companies to reduce ‘in-office’ personnel from 75% to 100%. ESD was tasked with providing businesses guidance on what is exempt from the directive and created a process for companies outside of the identified categories to seek an ‘essential’ designation. Empire State Development Essential Business Guidance can be found here.
All businesses and counties are advised to reach out to their regional ESD office and DHSES. They will be coordinating, assisting, and communicating once NYS has received its approval. Click here for guidance for businesses and corporations from ESD.
How to Navigate the Funding Process – Guide to the CARES Act
A Guide to COVID-19 Disaster Funding: How to Navigate the Funding Process, details some of the federal grant and loan opportunities and will be updated as more programs and funding become available. The Small Business Owner’s Guide to the CARES Act provides information about the $350B Paycheck Protection Program (PPP) which is a supercharged version of the Small Business Administration (SBA) 7A program aimed at helping U.S. small businesses, which have faced devastating losses in the wake of the coronavirus pandemic. INC provides an easy to read summary of How Paycheck Protection Loans Are Different Than Traditional 7(a) SBA Loans.
U.S. Department of Labor: Public Health Emergencies and the Fair Labor Standards Act Questions and Answers
U.S. Chamber of Commerce: Business Resources
The Small Business Administration has also issued the following guidance: Economic Injury Disaster Loan Program
The SBA will work directly with state Governors to provide targeted, low-interest loans to small businesses and non-profits that have been severely impacted by the Coronavirus (COVID-19). The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
CDC Guidance for Businesses and Employers:
The Centers for Disease Control and Prevention (CDC) offers the most up-to-date information on COVID-19. This interim guidance is based on what is currently known about the coronavirus disease 2019 (COVID-19).
For updates from CDC, please see the following:
The following interim guidance may help prevent workplace exposures to acute respiratory illnesses, including COVID-19, in non-healthcare settings. The guidance also provides planning considerations if there are more widespread, community outbreaks of COVID-19.
In-depth guidance is available on the CDC’s Guidance for Businesses and Employers web page.
Deloitte Consulting: Combating COVID-19 With Resilience
Public authorities are taking decisive action to respond to the emerging health threat, leading the business community to reconsider the adequacy of their preparedness measures. This page brings together all of the resources available from Global Deloitte insights to help businesses manage and mitigate the risk of COVID-19. Read about 10 Key Actions for Enterprises in An Epidemic, Rapid working capital optimization and credit solutions, Practical workforce strategies that put your people first, managing cash flow during a period of crisis, building a crisis resilient workforce, and more here.
Facebook has also compiled resources to help small businesses navigate the effects of COVID-19. Thank you to our partners at the Mohawk Valley Small Business Development Center for compiling many of these resources.
We’re here to help your organization or business through this difficult time, and we will continue to provide relevant updates as they become available. Please don’t hesitate to reach out to us if you are in need of assistance. Staff contacts can be accessed here.
-Mohawk Valley EDGE