TCAD outlines five‑year funding model and recent projects, urges partnership on energy task force implementation

Heather McDaniel, vice president of Tompkins County Area Development (TCAD), told the legislature that TCAD’s budget model is one‑third private regional pledges, one‑third fee income (including IDA/TCDC) and one‑third county support. She said the five‑year county pledge helped TCAD secure roughly $1.4 million in private pledges and credited that partnership with enabling local job creation and capital investment.

McDaniel highlighted recent economic development work: IDA support for a Cornell Executive MBA facility in Collegetown projected to bring 350 employees at peak usage; assistance to Ithaca Beer Company’s expansion and bottling line; and a revolving loan fund that has grown from about $300,000 to roughly $1.8 million over nine years with about 16 active loans. She said TCAD assisted approximately 19 projects in a recent year purporting to create about 206 new jobs over three years with average wages around $19.47 an hour and $170 million in new private capital investment.

On energy and implementation of the Energy & Economic Development Task Force recommendations, McDaniel said TCAD will work with county planning, the Public Service Commission engagement that already took place, and other partners on navigator and implementation roles. Planning staff placed a placeholder OTR for a $100,000 navigator function, she said, and TCAD expects to coordinate closely with that work.

Legislators asked about budget detail, transparency and how TCAD spends the county‑funded third of its budget; McDaniel said she would provide the 2016 budget and work plan to the legislature for review. Members also asked about support for villages and rural centers; McDaniel said TCAD assists municipalities upon request and cited infrastructure constraints as a limiting factor.

Next steps: TCAD will provide the legislature with additional budget and work‑plan detail and continue coordination on task‑force implementation.