Empire State Development Designates Partnership for Community Development as Certified Business Incubator

Hamilton Entrepreneurship Center Will Support Region's Early-Stage Businesses

February 7, 2019

Investment Complements "CNY Rising" – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy

Empire State Development (ESD) today announced the Partnership for Community Development (PCD) in Hamilton, Madison County, has been designated as a New York State Certified Business Incubator by ESD's Division of Science, Technology and Innovation (NYSTAR). As a Certified Business Incubator, PCD's Hamilton Entrepreneurship Center (HEC) will work with small and emerging businesses in Central New York to encourage viability and sustainability by improving access to affordable space and resources.

ESD President, CEO and Commissioner Howard Zemsky said, "Small businesses are vital to New York’s economic sustainability and, through Certified Business Incubators like the Partnership for Community Development, we can support early stage businesses during the crucial inception, development and growth phases."

As part of this award, ESD will provide $125,000 annually over the course of five years. Utilizing this funding and designation, PCD plans to create affordable space and resources for people starting or growing small businesses. The organization has already connected with several small business owners in the area who are running new businesses out of their homes. These entrepreneurs have expressed strong interest in moving their operations to a central location where they can work alongside like-minded peers and innovators, and access programming to help support their growth.

PCD Executive Director Jennifer Marotto Lutter said, "We are very excited about the implementation of this grant and the impact it will have on our community. Hamilton has worked very hard over the years to create a favorable entrepreneurial ecosystem and the expansion of co-working incubator services and staffing will take us to a new level. Hamilton is already a great place to live and is always improving as a great place to be an entrepreneur."

The HEC is located at 20 Utica Street in the heart of Hamilton's historic business district. The space currently attracts students and local entrepreneurs who would otherwise work at home or on-campus. The Center will offer 24-hour access for members, high-speed Internet, a variety of workstations, conference space, phone booths for private calls, and access to classes, events and networking opportunities. Supporting the development of new, locally-owned companies will encourage job creation in an otherwise rural community.

Across the state, NYSTAR has designated 10 Innovation Hot Spots—one for each of New York's economic development regions—and 20 Certified Business Incubators through a competitive process. Together, this network of support has created a culture of innovation and success around the state, thanks to ground-level services that make a dramatic difference in a start-up company’s next steps. Support generally includes coaching and mentoring, networking connections, prototype development, and access to capital and technical services.

Senator Rachel May said, "I am thrilled that Partnership for Community Development has been honored as a Certified Business Incubator. Hamilton is a spectacular town with a wide host of talent and it is excellent that they are being recognized and rewarded with support. Co-working space is a great resource for entrepreneurs, and access to services like high-speed internet, work space, and networking will enable them to set their sights even higher. I am excited to see what new businesses ventures develop and take root in Central New York."

Assembly Member John Salka said, "My congratulations to the PCD for obtaining the status as a NYS Certified Business Incubator. Economic development is key to creating vibrant communities that are essential to the quality of life in upstate New York. The staff of the Partnership for Community Development has been a tireless advocate for local businesses, and I am confident they will use the funds they are being awarded to further the interests small and local companies, and I look forward to working with them to improve the climate of doing business in our region. Economically healthy communities attract jobs, keep people in central New York, stabilize tax bases, and contribute to well- being of upstate New York."

Madison County Board of Supervisors Chairman John M. Becker said, "Any time the state provides seed money to small, start-up, innovative ideas and businesses, it's a great thing for all of us locally."

Hamilton Town Supervisor Eve Ann Shwartz said, "We are extremely pleased with the PCD's work to support existing business and new startups in the Hamilton community. This award of ESD grant funds and the designation as a NYS Certified Business Incubator are well deserved recognition of the PCD's work. The Town of Hamilton appreciates New York State's support to in our joint efforts to build a strong business community in Central New York."

Village of Hamilton Mayor RuthAnn Loveless said, "Establishing a business incubator has long been a goal of the PCD. This designation provides valuable resources for our local entrepreneurs which, in turn, will contribute to the economic vitality of our community. This award is a tribute to the work of the PCD and the reputation of our region."

Accelerating CNY Rising
Today's announcement complements "Central NY Rising," the region's comprehensive blueprint to generate robust economic growth and community development. The State has already invested more than $5.6 billion in the region since 2012 to lay the groundwork for the plan - capitalizing on global market opportunities, strengthening entrepreneurship and creating an inclusive economy. Today, unemployment is down to the lowest levels since before the Great Recession; personal and corporate income taxes are down; and businesses are choosing places like Syracuse, Oswego and Auburn as a destination to grow and invest in.

Now, the region is accelerating Central NY Rising with a $500 million State investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015. The State's $500 million investment will incentivize private business to invest well over $2.5 billion - and the region's plan, as submitted, projects up to 5,900 new jobs. More information is available here.

About Empire State Development
Empire State Development (ESD) is New York’s chief economic development agency (www.esd.ny.gov). The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing Governor Cuomo’s Regional Economic Development Councils and the marketing of "I LOVE NY," the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, visit www.regionalcouncils.ny.gov and www.esd.ny.gov

 

Contact:
Adam Ostrowski | adam.ostrowski@esd.ny.gov | (518) 292-5148
ESD Press Office | pressoffice@esd.ny.gov | (800) 260-7313