August 2012 - Empire State Development - New York State

have a small executive staff. The project fills a need to help them
accelerate their growth by providing CEOs with information necessary to
make strategic decisions regarding new markets, new products, strategic
alliances, etc.
ESD Involvement:
Competition:
Past ESD Support:
As a result of the Governor’s Regional Economic Development Council
Initiative, GRE was awarded $200,000 through the Consolidated Funding
Application (“CFA”) process. According to the Edward Lowe Foundation
(“ELF”) and MIT, up to 80% of New York’s economic growth is expected
to come from the expansion of existing businesses. GRE will use the
economic gardening program to facilitate and accelerate the growth of
these businesses.
GRE competes with similar regional organizations in New York State and
those in other states to retain and attract businesses.
In 2010, ESD approved a $150,000, three-year grant to GRE to support an
affiliate, the International Business Council (“IBC”), which promotes and
expands international trade opportunities in the Region. The goal was to
strengthen the capacity of the IBC to carry out its mission and to achieve
self-sufficiency. The first two years of the program were successfully
completed and ESD has disbursed $100,000 of the grant.
B. The Project
Completion: Expected July 2013
Activity:
The first of its kind in New York State, the program fosters business
growth by providing free assistance to companies that are poised for
expansion. GRE will select a group of 20 second-stage businesses located
in the Region to take part in the program. A team of national experts
provided by ELF will work with these companies to develop plans to
further accelerate their success. Participating companies will: have access
to advanced, high-speed software and technical assistance to help them;
identify qualified sales leads; facilitate targeted marketing using
mapping; review core strategies for commodity and niche markets;
examine use of social media; guide search engine optimization; and
analyze employee temperament to strengthen management teams and
recruit talent.
In order to participate in the program, second-stage companies must be:
for-profit and privately held; headquartered and operating in Genesee,
Livingston, Monroe, Ontario, Orleans, Seneca, Wayne, Wyoming or Yates
counties; generate between $700,000 and $50 million in annual revenue;
employ between five and 100 employees; have maintained principal
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