Economic Development Opportunity Highlights

$800 million New York State COVID-19 Small Business Recovery Grant Program

• Provides grant funding to eligible small and micro businesses and for-profit independent arts and cultural organizations impacted by the pandemic.
• Grants will be flexible and can be used for a number of different business operating expenses, including payroll, rent or mortgage payments, taxes, utilities, PPE or other business expenses incurred between March 1, 2020 and April 1, 2021. 
• Grant awards will generally range between $5,000 – $50,000 depending on 2019 annual gross receipts.
• Program application details are still being finalized, but if you are a New York State small business owner or your organization’s members would like to receive updates about the COVID-19 Pandemic Small Business Recovery Grant Program, please click here. You will be alerted when more information is available, and applications are being accepted.
• The application portal is expected to be open on June 10^th, 2021.
• For more information about the grant program, including a list of documentation required in the application, see details HERE.
• We recommend that interested applicants begin gathering documents for application in advance of June 10^th.  

Consolidated Funding Application (CFA) Now Open

The eleventh round of the CFA is now open with over $750 million in funding available through more than 30 state programs.

• Since 2011, the first year of the REDC initiative, the CFA has enabled businesses, municipalities, not-for-profits and members of the public to apply for multiple sources of funding from dozens of state agency programs through a single application, for projects that create jobs and help to revitalize communities.
• All of the 2021 guidelines and resources documents can be found on the MHREDC website at https://regionalcouncils.ny.gov/mid-hudson, including:
  • 2021 Available Resources Guide – This year there are over 30 programs available through nine state agencies.
  • 2021 REDC Guidebook – Learn more about the 11^th round of the REDC initiative.
  • 2021 CFA Program Webinars – Find recorded webinars for all funding programs available in this year’s REDC round.
  • 2021 CFA Application Guide
• CFA Deadline for many programs: 4:00 PM SHARP on July 30, 2021
  • Note: The deadline does not apply for open enrollment programs, which will continue to accept applications on an ongoing basis.

Attend an upcoming Virtual CFA Information Session!

Information sessions are hosted by ESD team members ready to answer questions about the CFA process. Register for an upcoming event below:

• June 17, 2021 at 9am – Register HERE
• June 22, 2021 at 12pm – Register HERE

Critical Manufacturing (CM) Virtual Corporate Security Engagement (CSES) Series

• The Critical Manufacturing Virtual Corporate Security Engagement Series will feature speakers from the Department of Homeland Security, other U.S. Government entities, the Critical Manufacturing sector, state and local agencies, as well as the private sector. Speakers at this event will address topics including a Threat Brief: Critical Manufacturing Sector, Framework for Identifying Cybersecurity by Risks, Distribution and Supply Chain Challenges, and Security Consideration to Protect Intellectual Property.

• Wednesday, June 9, 2021, from 9:00am—11:30am EDT
• Register here

2021 Mid-Hudson Regional MWBE Online Opportunities Expo

• The expo will feature an online experience with panel discussions, information on regional projects, workshops on special topics and other business development resources.
• It will also include information about State-sponsored financial and technical assistance programs, including the New York Forward Loan Fund the Bridge to Success Loan Program, and the New York State Surety Bond Assistance Program.
• Join the Mid-Hudson MWBE expo on Thursday, July 22, 2021.
• Register to attend HERE.
• Learn more about this year’s MWBE Online Expos HERE.

For Information on Resources for Businesses in Response to COVID-19, please visit nysbusinessrecovery.ny.gov

Additional Updates

Governor Cuomo Proposes Legislation to Waive Taxes on Funding From $800 Million COVID-19 Pandemic Small Business Recovery Grant Program

Small Business Boot Camp: Diversity is Good for Business with Edward Lawson, Jr., JD, MBA (FACES Inc)

• This presentation will explore diversity, equity, and inclusion strategies that assist organizations in maximizing an environment in which differences are validated and cherished, and in which each employee and customer is valued and respected.
• Thursday, June 17, 2021 at 6:00 p.m.
• Register here

Apply for Funding to Be a Community Navigator through the Small Business Administration’s (SBA) Community Navigator Pilot Program

• The Small Business Administration (SBA) & Public Private Strategies Institute (PPSI) is providing an educational opportunity to learn more about the community navigator pilot funding opportunity created by the American Rescue Plan Act.
• This program is intended for and open to all community-based organizations, chambers of commerce, business associations who share our mission of helping to reach every small business owner who needs help.
• See the Notice of Funding Opportunity here. According to the website the deadline to apply is July 12, 2021.