Economic News for Ithaca and Tompkins County
September 2021
Enhancements Announced to Federal COVID
Economic Injury Disaster Loan Program
The Small Business Administration (SBA) announced enhancements to the COVID Economic Injury Disaster Loan (EIDL) Program, a federal disaster relief loan designed to serve small businesses impacted by the pandemic.
Key changes :
  • Borrow up to $2M
  • Use Funds for any normal operating expenses and working capital, including payroll, purchasing equipment, and paying debt
  • Repayment deferred two years
  • Use funds to prepay commercial debt and federal business debt
  • Simplified affiliation requirements to model those of the Restaurant Revitalization Fund.
The enhancements to the COVID EIDL program will allow more businesses greater and more flexible support from the over $150 billion in available COVID EIDL funds.
L.E.A.R.N. Webinar on COVID-19 Pandemic
Small Business Recovery Grant Program
Ithaca Area Economic Development, the Tompkins County Chamber of Commerce, and the Chamber Alliance of New York State (CANYS) will co-host a L.E.A.R.N webinar on the New York State COVID-19 Pandemic Small Business Recovery Grant Program.

Matthew Kennedy, Economic Development Program Specialist with Empire State Development (ESD) will present information on the newly expanded eligibility requirements, an overview of the application process, and what to expect once you have applied.

L.E.A.R.N. Webinar
Thursday, October 7th
9:30am - 10:30am
  • Small businesses, micro-businesses or for-profit independent arts and cultural organizations who have experienced economic hardship due the COVID-19 pandemic
  • Must be currently viable and have begun operation on or before March 1, 2019, and continue to be in operation as of the date of application (may be shuttered due to COVID restrictions).
New HERO Act Mandate for Employers in NYS
The NYS commissioner of health has designated COVID-19 a highly contagious communicable disease that presents a serious risk of harm to the public health under New York State's HERO Act.

The NY HERO Act mandates new workplace health and safety protections in response to the COVID-19 pandemic. Under the law, all employers are required to adopt a workplace safety plan, and implement it for all airborne infectious diseases designated by the New York State Department of Health.

IAED on the Radio!
Recently, IAED's president, Heather McDaniel recorded several new radio spots highlighting what IAED does and IAED's efforts to strengthen the local economy and support local businesses throughout Ithaca and Tompkins County. Listen Here
Ithaca and Taughannock Falls Highlighted on
Good Morning America Segment
Good Morning America's travel segment broadcasted from Taughannock Falls on September 14th and the broadcaster was wearing an Ithaca is Gorges sweatshirt! The travel segment titled, Celebrating all New York has to offer as state continues to reopen, touches on several areas around NYS that are recovering following the initial impact of the pandemic.

Watch the clip HERE
Local, State and Federal Business Assistance
Is your organization struggling with recruiting, training, or retaining employees, or facing gaps in your talent development program? If yes, the Alliance for Manufacturing and Technology (AM&T) may be able to assist you in developing a comprehensive plan that identifies and addresses your workforce needs. AM&T offers guidance for workforce training and development, attraction and retention, compensation and benefits, employee and labor relations, and more.

AM&T recently welcomed Wayne Smith as a Principal Consultant. He will provide key services such as strategic planning, leadership development, human resource management, and safety/risk management to regional manufacturers. He has extensive manufacturing experience in the automotive, food production, packaging, medical supplies, home building products and electrical appliances sectors.
The OJT program helps businesses bring on new employees and get them skilled up to be successful in their new position. Contact: Tompkins Workforce NY Career Center at 607-272-7570. or Cindy Sloan, Workforce Development Specialist, at 

Local Companies Finalists in Grow-NY Competition
Local companies, Ascribe Bioscience, based out of the McGovern Center, and Heat Inverse, based out of Rev Ithaca Startup Works, are both finalists in the Grow-NY competition - congratulations!

Grow-NY is a business competition focused on growing an enduring food and agriculture innovation cluster in the Grow-NY region of Upstate NY. The competition attracts innovative, high-growth food and agriculture startups from across the globe and engages them in the region’s rapidly-growing startup ecosystem. Finalists have a chance to win up to $1 million.

In the News
2021 Finger Lakes Favorites by Cayuga Radio: Many winners are located in Ithaca and Tompkins County! Congratulations to all the gold and silver winners!

Ithaca Area Economic Development | 607.273.0005 |