Jul 24, 2014 — Today in Washington DC, the Obama administration is hosting a conference designed to convince more investors to back entrepreneurs, start-ups and infrastructure projects in rural America.
As part of that effort, the White House is unveiling a new $10 billion private investment fund aimed at financing more projects in small towns.
That effort follows years of concern from economists and rural policy experts, who say a kind of capital drought is stifling growth in rural areas.
The fear is that even many good ideas aren't getting funded in small town regions like the North Country, because most of the investment dollars are flowing to cities and suburbs. Go to full article
Business plan. Photo: Nathaniel Boehm, Creative Commons, some rights reserved
Mar 04, 2014 — More money is coming into startup businesses in upstate New York, but that doesn't mean starting a business here is suddenly easy.
Upstate Venture Associates of New York (UVANY), a startup business investment firm, found that nearly twice as much money came into upstate New York in the third quarter of last year, in comparison to the year before. There were 29 deals that quarter, worth $75.86 million. That's up from 16 deals worth $40.56 million in the fourth quarter of 2012, UVANY found. Go to full article
Potsdam, NY, Sep 10, 2009 — New York has decided to start over on one of its high-profile economic development programs. Last week, the Paterson Administration announced it would let the Empire Zone Program sunset as scheduled next year. Development officials say they'll collaborate with other state agencies and business leaders to draft a replacement.
Thousands of businesses operate in Empire Zones across the state. They receive tax breaks and incentives for job retention and creation. Gov. David Paterson put the value of the program at $550 to $600 million per year. But Empire Zones have been controversial. In the press release announcing the new effort, Gov. Paterson noted "abuses, and broad failures."
State comptroller Thomas DiNapoli was in Potsdam this week promoting an alternative, one that doesn't have the Empire Zones' overlay of economic development policy--investing state retirement fund monies in in-state business ventures. Martha Foley talked with Dinapoli about the private equity program, and the still-looming budget deficit, at Clarkson University Tuesday. Go to full article
Mar 18, 2004 — The amount of money invested in so-called socially responsible mutual funds continues to grow. But as the Great Lakes Radio Consortium's Bill Poorman reports, they're still a small part of the big picture. Go to full article