TCAD & Economic Development An Overview of Strategies, Policies - - PowerPoint PPT Presentation

TCAD & Economic Development An Overview of Strategies, Policies & Programs

TCAD’s Mission

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.

TCAD’s Vision

A flourishing economy with exciting, innovative firms that inspire and attract a talented workforce.

• John Rudd, Chair - President & CEO, Cayuga Medical Center/Cayuga Health System

Larry Baum, Vice Chair - Founder, The Computing Center Jeff Gorsky, Secretary/Treasurer - Partner, Sciarabba Walker & Co Greg Hartz, Past Chair - President, Tompkins Trust Company Greg Galvin - Chairman and CEO, Rheonix, Inc. Svante Myrick - Mayor, City of Ithaca Mary George Opperman – VP and Chief Human Resources Officer, Cornell University Charlie Trautmann - Adjunct Professor of Engineering, Cornell University & Director Emeritus of the Sciencenter

• OFFICERS AND EXECUTIVE COMMITTEE MEMBERS
• Board of Directors

Julie Baker – Co-Founder & Data Platform Lead, Ursa Space Systems Katie Borgella – Commissioner of Planning, Tompkins County Department of Planning & Sustainability James Brown – President, United Way of Tompkins County

• Dr. Luvelle Brown – Superintendent, Ithaca City SD

Jerry Goodenough – VP of Development, Heorot Power Bill Goodman – Supervisor, Town of Ithaca Holly Hardie – Walnut Ridge Dairy Anna Kelles – Chair, Tompkins County Planning, Development, & Environmental Quality Committee Tom Knipe – Deputy Dir. for Economic Dev., City of Ithaca Laurie Linn – President, Communiqué Design & Marketing Joel Malina – VP University Relations, Cornell University Julia Mattick – Executive Director, Tompkins County Workforce Development Board Jason Molino – Tompkins County Administrator

DIRECTORS

Board of Directors

• Dr. Orinthia Montague – President, Tompkins Cortland Community

College Brian Noteboom – NE Regional Council of Carpenters Kara Pass – Sr. VP, Tompkins Financial Advisors Martha Robertson – Chair, Tompkins County Legislature Tom Schryver – Executive Director, Center for Regional Economic Advancement, Cornell University Steve Snyder – VP Global Manufacturing Strategy, BorgWarner Morse Systems Jennifer Tavares – President, Tompkins County Chamber of Commerce Jennifer Tegan – Partner, Cayuga Venture Fund Jeremy Thomas – Senior Director, Cornell Real Estate Frost Travis – President, Travis Hyde Properties Janet Williams – Interim VP Finance & Administration, Ithaca College Gary Woloszyn – Manager, Wegmans Gene Yarussi – TCAD Foundation Liaison

Economic Development Goals

• Quality Jobs
• Strong Tax Base
• Vibrant Communities

• Business Development

Services

• Strategic Planning
• Economic Development

Leadership

Strategies to Achieve Goals

Programs

• Business Retention and Expansion (BR&E)
• Tompkins County Industrial Development Agency (TCIDA)
• Tompkins County Development Corporation (TCDC)
• Revolving Loan Fund (RLF)
• Tourism Capital Grants (TCG)

Services

• Strategic Planning
• Studies and Policy Development
• Business Planning

Initiatives

• Finger Lakes Regional Prosperity Network (FLRPNet)
• Economic Development Collaborative (ED Collaborative)
• Air Service Board
• Advanced Manufacturing Employee Training Program
• Business Attraction Strategy

Key Activities

8

• Keep what we have / Grow our
• wn
• Utilize scarce resources wisely
• Invest in companies that are

here for sound strategic reasons

• Prioritize creation of entry level

jobs with career ladders

• Balance development and

quality of life

Guiding Principles

Local Sectors 4.4 B 47% Traded Sectors 4.9 B 53%

Manufacturing 16% High Tech 11% Visitors & Tourists 2.5% Utilities 3% Ag., Fish, Forestry 1% Mining <1% Education 18.5%

Economic Overview: Traded Sectors Gross Product

Traded Sectors Employment

Local Sectors 58% 37,600 jobs Educa9on 21.7% Manufacturing 4.9% High Tech 8.5% Visitors & Tourists 4.4% Ag Fish Forestry 1.8% Mining <1% U9li9es <1% Traded Sectors 42% 27,300 jobs

Traded Sectors Average Wages

Avg $101,000 U*li*es 1% Visitors & Tourists 3% Avg $27,000 Manufacturing 7% Avg $69,500 High Tech 11% Avg $64,000 Educa*on 30% Avg $67,000 Mining <1% Avg $53,000 Ag Fish Forestry 1% Avg $20,000

TCIDA Recent Projects

Project Name Date Closed Project Value Square Feet Location

323T, LLC TBD 4,614,574 20,174 City of Ithaca DRS Newfield IV & V TBD 9,018,380 Solar Newfield SUN8PDC Dryden Road TBD 17,431,772 Solar Dryden SUN8PDC Ellis Road 2018 35,566,956 Solar Dryden Therm 2018 2,500,000 20,000 Town of Ithaca Ulysses Solar TBD 3,568,473 Solar Ulysses Enfield Solar TBD 4,615,649 Solar Enfield Tompkins Trust HQ TBD 35,000,000 110,000 City of Ithaca DRS Newfield I, II, III 2017 12,596,523 Solar Newfield City Centre 2017 52,713,000 218,211 City of Ithaca Mecklenburg Solar 2017 3,450,000 Solar Enfield Harolds Holding 2017 42,900,000 171,600 City of Ithaca Cayuga Ridge Nursing Home 2017 21,027,176 139,017 Town of Ithaca Hotel Ithaca Lenroc 2016 15,000,000 30,000 City of Ithaca

Project Name Date Closed Project Value Square Feet Location

Simeon’s on the Commons 2016 660,000 9,660 City of Ithaca Carey Building 2017 5,757,000 17,000 City of Ithaca 210 Hancock/INHS 2016 21,706,403 77,342 City of Ithaca Hilton Canopy Hotel 2016 24,172,500 74,475 City of Ithaca 209-215 Dryden Assoc 2015 39,350,000 73,000 City of Ithaca The CBORD Group 2015 3,700,000 41,000 Town of Ithaca Advanced Design Consulting 2015 910,000 5,000 Town of Lansing Incodema 3D 2015 7,150,000 60,000 Town of Dryden BinOptics 2015 7,700,000 8,000 Village of Lansing Ithaca Beer – 3 2015 7,200,000 23,800 Town of Ithaca Dairy One 2015 4,115,000 17,000 Village of Lansing Marriott 2014 32,000,000 100,000 City of Ithaca Total 2014 to 2018 $414,423,406 1,215,279

Tompkins County Development Corporation

Project Name Date Closed Project Value Square Feet Ithaca College 2011 Bond Refinance 2017 $21,980,000 N/A Ithacare (Longview) 2008 Bond Refinance 2017 $12,845,700 N/A William George Agency 2016 $3,000,000 15,000 Ithaca College Refinance 2015 $43,965,000 N/A William George Agency 2015 $2,000,000 N/A Kendal at Ithaca Renovation/Expansion 2014

• $47,720,00

84,100 Cayuga Medical Center 2013 $25,000,000 N/A TC3 Foundation – Refinance 2013 $40,888,000 N/A Kendal Refinance 2012 $8,985,000 N/A Franziska Racker Center 2011 $2,500,000 31,000 Ithaca College/College Circle Apts 2011 $25,905,000 N/A Cayuga Medical Center 2010 $14,275,000 N/A Totals $249,063,700 130,100

Revolving Loan Funds

Project Name Year Project Value Projected Jobs Loan Amount BeetnPath 2014 $501,000 8 $150,000 Ithaca Coffee Company 2014 $115,000 3 $50,000 Finger Lakes ReUse 2015 $2,267,962 13 $50,000 Ithaca Beer 2015 $4,200,000 22 $300,000 Ithaca Hummus 2015 $250,669 50 $100,000 Rosie Applications 2015 $200,000 3 $100,000 Gimme Coffee Company 2016 $167,100 5 $50,000 Ithaca Hummus 2016 $200,000 28 $150,000 Concept Systems 2017 $230,000

• $103,500

Totals $8,131,731 132 $1,053,500

TCIDA

Tompkins Trust Company

TCIDA

Therm, Inc.

Revolving Loan Fund

Ithaca Beer

Revolving Loan Fund

Rosie App

Tourism Capital Grant

Hangar Theatre

Tourism Capital Grant

Sciencenter

Strategic Planning

• Economic Development Strategy
• Workforce Development Strategy
• Energy & Economic
• Development Task Force
• Sewer/Water Infrastructure Study
• Municipal Approval Process Study
• Food Processing
• Business Incubation Program

Challenges

Utility Infrastructure Workforce

NYS Business Environment

Housing

Thank You

Michael Stamm President Martha Armstrong Vice President and Director of Economic Development Planning Heather McDaniel Vice President and Director of Economic Development Services Margaret Frank Assistant Director, Communications and Economic Development Services Ina Arthur Manager of Administrative Services