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.
- This guidance updates and supersedes any guidance you may have received to date on this topic.
- Any business with a pending inquiry must refer to the updated guidelines or the New York Forward website to determine the status of your business. If your business is included in the list of essential businesses, you do not need confirmation of such by ESD. ESD will not be responding to individual requests for determinations.
Local Reopening Guidance:
NYS Covid-19 Guidance:
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.
Other Business Guidance:
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
Provide Cree with Your Business Information
These forms are made available to collect information from potential new supplier businesses for review by the Purchasing Department at Cree. This process will assist in streamlining Cree’s supplier review procedure. If Cree is interested in the products and/or services your company provides, or if any other information is required, you will be contacted by a Cree purchasing representative.
Direct construction vendors and potential suppliers please fill out this form: https://www.cree.com/about/suppliers-contractors/supplier-information-form/
Direct service, non-fab related companies fill out this form: https://docs.google.com/forms/d/e/1FAIpQLSecsdIj7r6SVtmMotck9jstpCGGY6fN27Wz_UpLEDZm8CYwsw/viewform?usp=sf_link
584 Phoenix Drive
Rome, New York 13441
July 29, 2019
For immediate release:
Whitesboro Youth Science & Tech Academy Starts Second Year
To prepare the future workforce for the region’s growing opportunities in Science, Technology, and Engineering & Mathematics, Mohawk Valley EDGE and partners Whitesboro Central School, Mohawk Valley Community College, Bank of America, and National Grid launch a Youth Science & Tech Academy.
Whitesboro School District students in grades 6-8 will tour Danfoss, Indium, Griffiss Business and Technology Park, National Grid and other local businesses to learn more about science and technology opportunities in their own backyards. They will participate in projects and activities relevant to a variety of STEM fields and meet professionals from area businesses. Students will not only discover real-life STEM applications, but they will also make connections with local professionals and industry leaders.
“The Science & Tech Academy project is vital in helping Whitesboro’s students maintain high grades and higher aspirations in a time when science careers are more important than ever,” said Steven J. DiMeo, EDGE President. “Through motivating and exciting educational enrichment programs, we can begin to close the academic achievement gap faced by some students and maintain learning throughout the year. We look forward to launching this program to give local youth the greatest chance to succeed in our region.”
As part of the Academy’s STEM 101 and STEM 102 camps, students will be exposed to a range of science and tech fields from rocketry to nanotechnology to renewable energies and more. EDGE has worked with MVCC, the Whitesboro CSD, businesses in the related industry fields, and National Grid to interject the importance of nanotechnology and advanced electronics in the district with the development of the Marcy Nanocenter. The success of the inaugural program launched last summer at the Whitesboro Middle School, promoted organizers this year to add another week of programming to build on the interest and skills from last year’s program.
DiMeo noted the long-term benefits for the region are unmeasurable given Oneida County’s growing clusters of science and tech-based employment. “The program is a timely intervention to aid the aspiring STEM professionals in taking advantage of these fulfilling and high-wage careers.”
The Academy focuses on areas of rocketry, nanotechnology, renewable energy, and unmanned aerial systems (drones) to help students recognize the basic academic level they need to attain to succeed in technical careers, and to acquire the motivation needed to pursue careers in the science fields.
“The Youth Science & Tech Academy is a tremendous opportunity for students who are interested in pursuing a career in science, technology, engineering, and mathematics to engage with professionals and get hands on experience,” said Edward White, Executive Director, National Grid Foundation & Vice President, US Community Giving. “The Mohawk Valley workforce and leadership of tomorrow is being developed today, and the Youth Science & Tech Academy is where it’s happening.”
As an additional complement, EDGE and MVCC are working with the Whitesboro Teachers’ Center on a Progression of Learning Effort. A program is being introduced to train the teachers about hands on teaching in the areas of STEM that is similar in topics, albeit more brief, that the students will experience during the camp. The training will kick off this spring so that in the fall the students will have a learning experience that is built on a progression of STEM and nanotechnology topics that are age specific. The long-term goal of this project is also to replicate the camps at various sites/schools throughout Oneida County, reusing the curriculum developed and the insights gained from the pilot project.
“The Whitesboro Central School District is very pleased to be able to partner with Mohawk Valley EDGE, MVCC, Bank of America, and National Grid for the second year to provide our students in grades 6-8 with skills and concepts required for future high-tech science careers,” said David Russo, Whitesboro Central School District, Assistant Superintendent for Learning and Accountability. “The topics and learning experiences that take place at the Science and Tech Academies not only build upon our student’s existing knowledge, but helps to take learning to the next level with hands-on opportunities in fun and exciting ways. We would like to thank our partners in helping to provide this wonderful experience for our students.”
“Bank of America is thrilled to support the Youth Science and Tech Academy. In an increasingly technology-based world, an understanding of STEM concepts is critical for the success of our future workforce. By encouraging students to develop and maintain interest in STEM subjects, the Youth Science and Tech Academy will help to prepare the next generation of researchers, scientists, programmers and other technology professionals to be better critical thinkers and to discover creative ways of solving problems,” said Michael Brunner, Central New York Market President. “At Bank of America, we are proud to partner with Mohawk Valley EDGE, the Whitesboro School District, Mohawk Valley Community College and National Grid on this important program.”
“Career Camps provide the right instruction, equipment and facilities for kids to enhance their interests, talents and skills in new areas,” said Franca Armstrong, MVCC Associate Vice President of Workforce Development and Dean of the Rome Campus. “Through true partnerships with organizations that all care, this camp was a great opportunity for those students to discover, develop and increase their abilities in the STEM Field.”
For more info on EDGE’s work with the business and education community: https://www.mvedge.org/annual-report/
Mohawk Valley EDGE is a private, not-for-profit corporation that provides a coordinated economic development program in Oneida County. As an integral part of the long-term effort by the public and private sectors, EDGE works to strengthen opportunities and open the door for new businesses and industries to locate and grow within the region.
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