Tompkins County Area Development

Established in 1964, Tompkins County Area Development (TCAD) helps foster a thriving and sustainable economy by a) growing, retaining, and attracting companies that provide high-quality employment opportunities, and b) creating an environment supportive of entrepreneurship and business development.  In 2017, TCAD supported 22 projects expected to invest $142.9 million in the Ithaca region.  To help entrepreneurs launch and expand businesses, TCAD established its Revolving Loan Fund Program in 1989, an effort credited with lending $3.1 million to 68 companies that have created or retained over 1,100 jobs.  TCAD also provides management and administrative support to two County entities:  1) the Tompkins County Development Corporation, which provides educational and nonprofit projects with access to low-interest rate debt in the tax-exempt bond market; and 2) the Tompkins County Industrial Development Agency (TCIDA), which provides economic incentives to projects that will strengthen the County’s tax base and enhance community vitality.  To foster renewable energy generation, TCIDA adopted a commercial solar policy in 2017 that provides a property tax incentive to community solar projects, an effort that is credited with supporting six projects expected to generate 12 megawatts of solar power (i.e., enough to power 2,400 to 3,600 homes).