Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
ONEIDA COUNTY: STARTUPS, EXISTING COMPANIES CAN PURSUE GRANT FUNDING TO CREATE JOBS
Startups and existing companies in Oneida County can pursue $350,000 in grant funding to “provide new job opportunities.”
The Oneida County Program Income Grant program is designed to utilize the county’s program income funds from the New York State Office of Community Renewal (NYSOCR).
Recipients can use those funds to “enhance flexibility and affordability and [help] new and existing county businesses provide new job opportunities and retain existing jobs,” per a Wednesday news release.
“This $350,000 could be a huge benefit to eligible county businesses,” Oneida County Executive Anthony J. Picente Jr. said. “As the funding will be awarded on a first-come, first-served basis, I encourage members of our business community to take advantage of this opportunity and apply before it is no longer available.”
Oneida County offers assistance as a grant to eligible businesses through Mohawk Valley EDGE. The program may encompass projects within microenterprise, small business, and economic-development frameworks as defined by the NYSOCR Community Development Block Grant guidelines.
The program has so far awarded Paris Compression Molding, LLC, of Waterville $35,000 and provided Riverhawk Company of New Hartford $90,000 to assist with machinery and equipment purchases and business expansion.
“Capital in smaller dollar amounts is often difficult to access for our small business community,” Steven DiMeo, president of Mohawk Valley EDGE, said in the release. “This partnership with Oneida County helps startup and existing companies provide new jobs opportunities, keep existing jobs and, ultimately, broaden the tax base of Oneida County.”
Eligibility and applying
In order to qualify for the Oneida County Program Income Grant program, businesses must be involved in manufacturing, warehousing and distribution, agri-business, high technology, research and development and traditional and innovative small business sectors.
They also must fall into the business categories of microenterprise (5 employees or less, including the owner(s)); small business (6 to 25 employees); or economic development (greater than 25 employees).
Companies must also be located within Oneida County, but outside of the Community Development Block Grant (CDBG) entitlement cities of Utica and Rome.
They must also create jobs which are available to, or held by, low- and moderate-income persons as defined by NYSOCR and CDBG guidelines. In the case of a microenterprise, if the owner of the applicant business is to be considered as a new job, he/she must meet low- or moderate-income CDBG guidelines at the time of application to the program.
Recipients can use grant funding for the purchase of capital assets such as production machinery and equipment, furniture, fixtures and working capital uses.
For more details on the program and to apply for funding, click here. The grant application deadline is Jan. 31, 2019.
According to a report, a third of all teachers in the state will be retiring within 5 years, which will open things up for those with Education degrees/experience: https://www.localsyr.com/news/local-...mit/1561589853
The 63,000-square-foot facility is a customer service and sales office and it first opened in July, according to Griffin Carroll, a company spokesperson.
“Since opening in July, our Big Flats office has seen faster growth than any of our other sales and service offices around the country, already at 250 employees,” Carroll tells BJNN in an email. “With previously announced plans to bring 450 jobs to the area, we are already more than halfway there.”
At the ribbon-cutting event, Wayfair co-founder Steve Conine spoke about his roots in the area, as his parents grew up in Prattsburgh. Also, he and company co-founder Niraj Shah are graduates of Cornell University in Ithaca. The two men started the business in their senior year at Cornell, becoming CSN Stores in 2002.
The business has grown to employ nearly 10,000 people around the globe. Wayfair says it offers more than 10 million products and has 12.8 million active customers. The company generated $5.7 billion in net revenue for the one-year fiscal period ending June 30, 2018.
In addition to Big Flats, Wayfair has customer service and sales offices in Boston, Maine, Texas, Utah, and Ireland.
Plug Power raising $35 million in private placement
Plug Power, the Latham, New York, fuel cell manufacturer, is raising $35 million in a private offering.
Plug Power has entered into definitive agreements with accredited investors, according to a press release. The company plans to use the money for general corporate purposes, including working capital.
Following the transaction, which is expected to close Nov. 2, Plug will issue investors 35,000 shares of the company's Series E convertible preferred stock at $2.31 per share.
Investors involved in private placements can include large banks, mutual funds, insurance companies and pension funds. A private placement is different from a public issue in which securities are made available for sale on the open market to any type of investor.
Plug Power (Nasdaq: PLUG) makes fuel cells used to power forklifts in warehouses and distribution centers. Fuel cells are seen as an alternative to lead-acid batteries. Plug has shipped more than 20,000 fuel cell units to dozens of customers including Amazon.com Inc. (Nasdaq: AMZN), Walmart Inc. (NYSE: WMT) and Nike (NYSE: NKE).
In addition to its material handling business, Marsh has been mapping out what the future of Plug Power will look like, with potential to expand into on-road delivery vehicles, and to partner with companies in China. Plug recently has been working with FedEx (NYSE: FDX), putting its technology into vans delivering packages to Albany area residents.
Plug is one of the largest manufacturers in the area and is also one of the area's few public companies, employing more than 600 engineers, researchers and technologists. The company expanded to an additional 38,400-square-foot warehouse in Clifton Park this year, about 15 minutes from its headquarters in Latham.
Earlier this year, Plug raised $100 million in another private offering.
Plug Power expects net revenue to be between $161 million to $175 million in 2018.
Plug Power's stock was selling up in market Thursday morning, trading at $1.87.
As a start-up company, they had no business locating in a swanky new space. Start-ups belong in a cheap hole in the wall space until a few years after they retain profitability. To blame others for your failure tells me they were doomed from the start.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
