May 05, 2010

Gillibrand Announces $74,000 For Mohawk Valley Economic Development

Federal Funding Will Be Used For Economic Development Projects In Fulton, Herkimer, Montgomery, Oneida, Otsego, And Schoharie Counties

Washington, DC – U.S. Senator Kirsten Gillibrand today announced $74,000 for the Mohawk Valley from the Economic Development Administration. The federal funding will be used by the Mohawk Valley Economic Development District to encourage economic development projects in Fulton, Herkimer, Montgomery, Oneida, Otsego, and Schoharie counties.

“This is a great investment for the Mohawk Valley,” Senator Gillibrand said. “These federal dollars will help develop partnerships between the public and private sector, stimulating economic growth in the entire region. I will continue working to ensure New York gets its fair share from the federal government.”

“EDA’s planning grant program is essential for the continuance of the business development activities of our six- county organization,” said Greg Eisenhut, Chief Operating Officer of Mohawk Valley Economic Development District. “Comprising roughly thirty percent of MVEDD’s operating budget, these funds are used to establish priority development projects for EDA’s Public Works Program, to avail Mohawk Valley businesses of MVEDD loan funds and to provide technical assistance to local governments as they try to control the costs of services.”

This investment supports the development and implementation of a comprehensive economic development strategy (CEDS) in Fulton, Herkimer, Montgomery, Oneida, Otsego, and Schoharie counties. These federal funds will fund half of the cost of developing this project, which will have a positive impact on the region’s economy. Senator Gillibrand has been active in pushing for increased funding for regional development under the Economic Development Administration, successfully including additional funds for business incubators in the reauthorization of the Administration.