Sponsored by Finger Lakes Technologies Group, Inc.
Tompkins County has one of the strongest economies in the Northeastern United States. The population is growing and so is employment. Growth is coming from both durable goods manufacturers and new technology-oriented companies. Products include software, biotechnology, publishing, printing and electronics.
Exciting growth and dynamic activity is taking place in small technology-related business. These enterprises develop a diverse array of products and services, and their customers are located all over the globe. Much of this development is the result of research conducted in the many Centers of Excellence at Cornell University, and then introduced to the marketplace.
With a global reputation as both a University and a Resource Center, Cornell University continues to build and develop a $500 million Life Sciences Project. In addition, a $100 million Nanotech Center opened in October 2004. In 2006, Ithaca College broke ground on a $14 million School of Business Building that will nurture the business leaders of tomorrow. All this growth demonstrates that the education sector of the business climate is stronger than ever.
While unemployment is consistently low (at or below 3% annually), a highly skilled workforce is available to local businesses. The three area colleges and universities provide a strong recruiting pool every year from the graduating classes in a wide variety of skills. An excellent Career and Tech Center is able to supply entry level technical and trades people. For experienced skilled workers, in addition to our own residents, Tompkins County is a net importer of workers from surrounding communities, and thus has a ready supply available.
In the realm of general economic development, there are a number of agencies ready to help a business locate here. In addition to the Tompkins County Chamber of Commerce, there is Tompkins County Area Development (TCAD) and the Ithaca Downtown Partnership. All three are supplemented by economic development departments in both the County and City governments which allow them to play an active role to promote growth and development, business expansion and retention in Tompkins County.
Tompkins County Area Development is dedicated to building a thriving and sustainable economy that improves the quality of life in Tompkins County by fostering the growth of business and employment. While working with business, not-for-profit, higher education, and public sector organizations, they fulfill their mission by assisting in the formation, retention, expansion, and attraction of target businesses. As the community's lead economic development agency, TCAD offers financial assistance, technical assistance and real estate development services. TCAD is also responsible for creating and implementing the comprehensive economic development strategy for the county that provides leadership to create a supportive economic environment.