Economic Development in Ulster County
By Lance Matteson
From Issue 1: Winter 2009
Two tools New York State provides to assist in economic development are Local Economic Development Corporations (LDCs) and Industrial Development Agencies (IDAs). Ulster County has both an IDA and an LDC—the Ulster County Industrial Development Agency (UCIDA) and the Ulster County Development Corporation (UCDC). These organizations help secure funding and tax incentives for local businesses and development projects. Gardiner’s library was bonded by UCIDA, helping to reduce the cost of the building, the Gardiner Town Board received a matching grant to study the possibility of extending the sewer district to the Commercial Light Industry area, and Minnewaska Lodge was a participant in UCIDA’s Pilot program.
As businesses face a crushing economy, UCDC will be more important than ever. UCDC is charged with marketing Ulster County and works in partnership with the Hudson Valley Economic Development Corporation to disseminate information and work to attract new businesses. While attracting new businesses is often considered the holy grail of improving local economic development, the reality is that growing and retaining businesses provides the bulk of the growth in the local economy. So it is equally, if not more, important to work with local businesses to help address their needs. UCDC not only does this through its funding and tax incentives but also works with local and new businesses to help identify sites, advocate for the businesses and/or site owners to local municipalities, partner with workforce development (e.g. the Ulster County Workforce Development Board and Department of Labor), identify other sources of funding and provide information. We work closely with the Small Business Development Corporation (SBDC) which provides free business counseling to area businesses. For more information about how UCDC might be able to help your business, go to the website: www.ulsterny.com
UCDC welcomes your comments and suggestions and looks forward to working with you to help create our vision of broad-based prosperity throughout Ulster County. Feel free to contact us at 845 338-8840.