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7&$' Tompkins COUNTY AREA DEVELOPMENT 7&$' Tompkins COUNTY AREA DEVELOPMENT 207 11 PROVIDED The elegant structural design of the Kionix gyro provides for unmatched ! performance stability. “We cannot exist without Gregory J. Galvin, Ph.D. President & CEO continuous innovation in Kionix, Inc. our products and how we manufacture them. New features, smaller sizes , lower costs drive our markets.” Pat Govang » “True innovation goes beyond Chairman of the Board President & CEO 7&$' e2e Materials incrementally improving the world around us. Broadly Tompkins COUNTY AREA changing the status quo DEVELOPMENT requires collaborative efforts on many levels. There is no better example of that than our relationship with TCAD.” 207 11 PROVIDED The elegant structural design of the Kionix gyro provides for unmatched ! performance stability. “We cannot exist without Gregory J. Galvin, Ph.D. President & CEO continuous innovation in Kionix, Inc. our products and how we manufacture them. New features, smaller sizes , lower costs drive our markets.” “During our 28 years in business , “As global consumers demand more Transonic Systems has developed fuel-efficient vehicles, the auto and introduced flow measurement industry is demanding significant innovations that span the scientific improvements in the cost and world from research to heart , performance of lithium ion batteries . transplant and vascular surgeries . Primet has developed unique Now, our newest product COstatus ® technology to produce the materials offers blood flow and volume that go into those batteries, at cost measurements under the most and performance levels that even difficult of diagnostic conditions the world’s best companies can’t for the critically ill newborn baby match. We’re proving that advantage and young infant. I am extremely on our plant floor in Ithaca today , proud of our staff and our ability so battery and materials producers to develop new technologies and throughout the world can adopt it . bring them to gold-standard clinical So when you hear the CEO of a major practice that help physicians save auto company saying that batteries the lives of patients.” must improve before you can have a low-priced electric vehicle in your Bruce Kilmartin | Chief Operating Officer | Transonic driveway, you’ll know that Primet is working on the solution.” Larry Thomas | President & Chief Executive Officer | Primet « Kimnann Aun assembles a probe at « Transonic’s manufacturing facility. Pictured (L to R): Brad Sprouse, Archit Lal, Dr. Shoufeng Yang REPORT FROM REPORT FROM THE CHAIRMAN THE PRESIDENT marketplace because they innovate in the way they design • The Excelsior Jobs Program, developed as a Charlie Trautmann and manufacture their products. Many also innovate in the Michael Stamm replacement for the Empire Zones Program under the Chairman TCAD way they organize and finance their growth. TCAD President last administration, has been significantly improved and Board of Directors TCAD is no different. extends tax credits from five years to ten. The R&D Our Board of Directors includes representatives from The current condition credit has also has been increased, allowing businesses Innovation. virtually every sector of our economy. This diversity is of the New York to access the credits sooner. It’s very likely the in itself innovative and unique among our peers in the State economy has single most important economic development sector. It helps us create innovative resulted in massive TCAD knows regional, State and federal programs are word in business ideas and implement them. Our remarkable staff works cuts of State aid to not always able to meet the needs of local employers. Over today. Organizations closely with our Board to create ambitious strategic plans local government the years we have helped launch major initiatives like the that innovate, thrive. Those who don’t languish, merge, or and carry out new initiatives. Our innovative and school districts, Cayuga Venture Fund and the Finger Lakes Entrepreneurs’ provide material for the business obits. approach to the management of as well as to the many not-for-profit organizations serving Forum to respond to the needs of the growing number of Tompkins County has been a center for business our programs generates substantial our community. While the State’s economic development technology-based entrepreneurs in our area. Recently, we innovation for over 150 years. New products, new revenues, which we re-invest to create programs have not been immune to those cuts, Governor refined our long-standing revolving loan fund programs so processes, new ways of manufacturing, and new ways of a successful business climate for Cuomo and the State Legislature have made some bold they are now more useful to early stage companies. doing business are all part of our County’s portfolio of Tompkins County. decisions that are good for the State and its employers. We continue our commitment to working collaboratively accomplishments. Let’s take a look at how they flourish I invite you to take a look through our Annual Report TCAD has been very active in Albany through meetings with the community’s Workforce Investment Board through the efforts of TCAD. and learn more about the many ways TCAD makes with legislators and key staff members. A clear message and devote substantial resources to the infrastructure As you know, Tompkins County is home to many Tompkins County one of the finest places to live in all of was sent about the needs of employers for incentive necessary to support job-creating businesses. Our airport is successful community-based organizations. Their missions New York State. programs that are more responsive to businesses just one example of the infrastructure necessary to support vary widely: some provide much-needed service to None of this work would be possible without the competing in a global marketplace. Here are a few our economic development efforts, and it continues to set those in need, while others provide entertainment and unflagging efforts of our dedicated Board of Directors, examples of new and improved State initiatives: records for service and competitive pricing. cultural enrichment. Tompkins County Area Development our talented staff, our loyal member investors, and the Our outlook for the future is guardedly optimistic as — TCAD — creates quality employment opportunities and many trusted partners who join with us for projects and • A new Recharge NY program will deliver low cost we already see companies growing back to pre-recession strengthens our tax base by growing our local businesses. initiatives. To all of you, a heart-felt “Thank You” for a power to companies creating quality jobs through new employment levels. And we expect the flow of deals We usually associate the term “innovation” with most successful year! investment in facilities and equipment. The high cost of spinning out of Cornell’s technology transfer efforts to technology-based companies. It is certainly true most power in New York State has been a consistent problem increase. Companies using technology to of TCAD’s customers compete successfully in the global for energy intensive businesses. design and manufacture their products • $130 million will fund new Regional Councils. While the will be the foundation of our economy structure and authority of the Councils has yet to be for years to come. established, this initiative reflects the diversity of the State’s economy and the acknowledgement that all resource allocation decisions should not be made in Albany. HIGHLIGHTS & ACTIVITIES drugs for diseases such as Alzheimer’s, HIV, and manufacturing capabilities for the production of HIGHLIGHTS Parkinson’s disease. advanced battery materials. Primet received a fixed asset loan to develop manufacturing capabilities. e2e Materials – established a prototype manufacturing facility in Ithaca to produce moldable, high-strength, naturally fire retardant, non-toxic biocomposite that BUSINESS RETENTION VISITS & ACTIVITIES replaces conventional wood products. While attracting new companies to a community is what REVOLVING LOAN FUND PROGRAM Regional Access – a natural and specialty food Comet Action Sports – was awarded two loans in 2010. most people define as economic development, new job distributor serving high-end restaurants, natural and The first to expand its skateboard manufacturing facility creation usually comes from companies or entrepreneurs TCAD has managed a revolving loan fund program gourmet food stores, bakeries, food manufacturers, in the Town of Enfield and the second to respond to already in a community. That is why TCAD visits key local meeting the needs of businesses creating quality jobs institutions, local wineries, and wine importers and stresses after a fire forced Comet’s offices and retail employers on a systematic basis. These visits provide since 1989. Since then we have loaned $1.8 million to 52 distributors throughout New York. TCAD awarded the storefront on the Ithaca Commons to temporarily us with an early opportunity to help companies with companies that have created 841 jobs. company a loan to help grow the business. relocate. Comet will be back on the Commons in 2011. expansions or with the challenges they may face. Unlike In 2010 TCAD continued to provide technical most economic development agencies, we collaborate Sunbeam Candles – moved into a 2,200 square foot 130-132 The Commons Redevelopment – is part of a assistance and oversight for the program. Eight loans with our colleagues at the Workforce Investment Board facility in the Town Enfield where it manufactures
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