Covid-19 Press Releases

COVID-19

April 23, 2020

ORANGE COUNTY INDUSTRIAL DEVELOPMENT AGENCY LAUNCHES $500,000 LOAN PROGRAM FOR SMALL BUSINESSES AFFECTED BY COVID-19 THROUGH ITS FUNDING CORPORATION

 

Program Was Created In Less than a Month after Hearing and Seeing the Devastating Toll this Crisis is Taking on Local Business Owners

New Windsor, NY --- The Orange County Industrial Development Agency (IDA) announces today the official launch of its $500,000 loan program through the Orange County Funding Corporation (OCFC) intended to help local businesses affected by COVID-19.

The loan program will help support businesses with 25 or fewer employees. The maximum loan amount is $10,000The loans will be 0% interest with no payments for 6 months. Funds may be used to support operations or employment, and the proceeds can be paid directly to vendors when possible.

OCFC’s Loan Committee will review applications weekly until funds are exhausted, or until the program expires on 09/30/2020, whichever is first. Approvals will be communicated to the applicant once the submission has been reviewed, and closings will take place within ten (10) days of approval.

There is no cost to apply.

Applications can be found at: https://www.ocnyida.com/funding-corporation/small-business-loan/

This loan program comes on the heels of three free webinars intended to help local businesses in Orange County, and dozens of one-on-one consultations with individual companies.

“Now more than ever, we must do everything in our power to bolster local small businesses. The Orange County IDA has hosted free webinars, advised local businesses, helped with federal paperwork – and now the Funding Corporation is putting its money where its mouth is with a half million dollar loan program. We are excited about this next step,” said Laurie Villasuso, Chief Executive Officer of the Orange County Industrial Development Agency.

 

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About the Orange County Industrial Development Agency

The Orange County Industrial Development Agency, a public benefit corporation organized under Article 18-A of the General Municipal Law of the State of New York, provides assistance to qualified companies through a program of incentives. While the IDA does not lend money, it offers a wide range of incentives to qualifying businesses to encourage job creation and job retention. These incentives include, but are not limited to, sales and mortgage tax exemptions, real property tax abatements and, in some cases, the issuance of tax-exempt bonds.

April 10, 2020: New Windsor, NY – The Orange County Industrial Development Agency has sent the below
letter to local, state and federal lawmakers regarding assistance to local businesses amid the
COVID-19 pandemic.
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About the Orange County Industrial Development Agency
The Orange County Industrial Development Agency, a public benefit corporation organized
under Article 18-A of the General Municipal Law of the State of New York, provides assistance
to qualified companies through a program of incentives. While the IDA does not lend money, it
offers a wide range of incentives to qualifying businesses to encourage job creation and job
retention. These incentives include, but are not limited to, sales and mortgage tax exemptions,
real property tax abatements and, in some cases, the issuance of tax-exempt bonds.

ORANGE COUNTY INDUSTRIAL DEVELOPMENT AGENCY ANNOUNCES LOCAL COMPANY RECEIVES STIMULUS APPROVAL 

 

Orange Packaging of Newburgh Receives Approval For COVID-19 Losses Just One Day After Submission 

 

Over 200 Local companies Participated in the Orange County IDA’s Free Federal Stimulus Webinar 

 

New Windsor, NY – The Orange County Industrial Development Agency announces today that Orange Packaging of Newburgh has received approval for funding as part of the federal COVID-19 stimulus package. The family-owned company received the compensation just one day after the Orange County IDA helped submit all the necessary paperwork.

 

This comes on the heels of a webinar organized by the Orange County IDA where over 200 Orange County businesses heard from federal experts about the recently passed federal stimulus package, CARES ACT. 

 

The free webinar explained the federal resources available to help local small businesses affected by COVID-19 and highlighted how they can apply for and utilize those resources to support their businesses.

 

“The Orange County IDA and The Accelerator were instrumental in helping us submit the proper paperwork to our bank, and now we have received approval for funds that we will use to keep our workers employed and start rebuilding our business that has been devastated by this virus crisis,” said Michael Esposito, owner of Orange Packaging.

 

“It is clear what the Orange County IDA needs to do: we need to make sure local businesses get the help they need to survive. We are proud to play this role and encouraged by the results that we are seeing right now,” said Laurie Villasuso, Chief Executive Officer of the Orange County Industrial Development Agency.

 

Also, over 60 local small businesses have had consultations with the Orange County IDA since it launched its economic recovery program. The economic recovery program works with local small businesses to identify and solve their biggest businesses challenges amid the COVID-19 crisis.

 

The Orange County Funding Corporation, an affiliate of the IDA, will vote on April 9 to set aside $500,000 to create a loan fund to make available to local businesses. This is will be another step in the initiative to help rebuild the local economy in the aftermath of the deadly virus.

 

For more information on how the Orange County IDA can help your business, call 845-234-4192 or email us at business@ocnyida.com

 

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About the Orange County Industrial Development Agency

The Orange County Industrial Development Agency, a public benefit corporation organized under Article 18-A of the General Municipal Law of the State of New York, provides assistance to qualified companies through a program of incentives. While the IDA does not lend money, it offers a wide range of incentives to qualifying businesses to encourage job creation and job retention. These incentives include, but are not limited to, sales and mortgage tax exemptions, real property tax abatements and, in some cases, the issuance of tax-exempt bonds.

ORANGE COUNTY IDA TAKES STEPS TO HELP THOSE AFFECTED ON THE FRONTLINES OF THE COVID-19 CRISIS

 

IDA MEMBER BUSINESSES PRODUCE MEDICAL EQUIPMENT FOR LOCAL HOSPITALS AND MEDICAL FACILITIES

 

THOUSANDS OF FACE SHIELDS MADE BY ORANGE COUNTY IDA MEMBER BUSINESSES TO BE DELIVERED WEEKLY TO ST. LUKE’S HOSPITAL, NYACK HOSPITAL AND OTHER MEDICAL FACILITIES

 

IDA SISTER ORGANIZATION TO ALLOCATE $500,000 TO HELP BOLSTER LOCAL BUSINESSES

 

New Windsor, NY – The Orange County Industrial Development Agency (IDA) announced today groundbreaking steps to help those affected by the COVID-19 crisis.

 

First, four of its member businesses are working to produce face shields for St. Luke’s Hospital, Nyack Hospital and other medical facilities amid national shortages of personal protective equipment (PPE) during the COVID-19 crisis.

 

Thousands of hard plastic face shields manufactured in Orange County will be delivered weekly to St. Luke’s, Nyack Hospital as well as other medical facilities.

 

Addibots designed the initial prototypes of the face shield using 3D printers. Melo iterated on the design to make volume production, using a laser cutter, for the version of the face shields going to hospitals. Orange Packaging is delivering another version of the face shields to facilities throughout the country. Orange Packaging also provided supply chain assistance to Melo to provide constrained plastic materials. EMS of New York is providing sanitization systems to help ensure the face shields are sanitized and safe to use. All four companies are members of the Orange County IDA’s Accelerator program.

 

“Businesses in the Orange County IDA’s Accelerator program quickly collaborated to help local health care workers during this national crisis. We are proud of our member companies for their rapid response and for working together to produce critical equipment for frontline workers battling this virus,” said Laurie Villasuso, Chief Executive Officer of the Orange County Industrial Development Agency.

 

Second, the Orange County Foundation Corporation, an affiliate of the IDA, will vote on April 9 to set aside $500,000 to create a loan fund to make available to local businesses. This is will be a first step in the initiative to help rebuild the local economy in the aftermath of the deadly virus.

 

This comes on the heels of a recovery initiative recently launched by the Orange County IDA to support local small business in Orange County that have been affected by the COVID-19 crisis. The recovery program will offer critical resources to help revitalize the local economy.

 

Over 30 companies have contacted the Orange County IDA and are already receiving support in the form of business counseling and access to the Federal stimulus program.

 

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About the Orange County Industrial Development Agency

The Orange County Industrial Development Agency, a public benefit corporation organized under Article 18-A of the General Municipal Law of the State of New York, provides assistance to qualified companies through a program of incentives. While the IDA does not lend money, it offers a wide range of incentives to qualifying businesses to encourage job creation and job retention. These incentives include, but are not limited to, sales and mortgage tax exemptions, real property tax abatements and, in some cases, the issuance of tax-exempt bonds.

ORANGE COUNTY INDUSTRIAL DEVELOPMENT AGENCY LAUNCHES ECONOMIC RECOVERY PROGRAM TO HELP REVITALIZE LOCAL BUSINESSES IMPACTED BY COVID-19 CRISIS

 

$500,000 in loans will be available to businesses that had to shutter because of COVID-19

 

New Windsor, NY – The Orange County Industrial Development Agency (IDA) today announced an economic recovery program to help revitalize local businesses in Orange County that have been impacted by COVID-19.

 

Impacted businesses will be able to use the Orange County Industrial Development Agency as a resource to reboot their operations. The recovery program will offer critical resources to help revitalize the local economy. Through the recovery program, the Orange County IDA will immediately assist businesses:

 

  1. To train, rehire and recruit employees;
  2. To identify and solve supply chain and inventory shortfalls to enable companies to continue their production and services undeterred;
  3. To clean and disinfect facilities and spaces believed to be exposed to the virus;
  4. To provide business rehabilitation guidance and strategic counsel;
  5. To help fill out and apply for federal and local grant/loan applications.

 

In the next few weeks, through the Orange County Funding Corporation, businesses will be able to apply for loans to help pay rent, purchase supplies and make critical utility payments.

 

“Our goal has always been to empower local businesses. It is our main priority now to support Orange County businesses that have been impacted by the COVID-19 crisis. Our economic recovery program will give Orange County businesses the tools they need to get a head start once the economy begins to reopen,” said Laurie Villasuso, Chief Executive Officer of the Orange County Industrial Development Agency.

 

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About the Orange County Industrial Development Agency

The Orange County Industrial Development Agency, a public benefit corporation organized under Article 18-A of the General Municipal Law of the State of New York, provides assistance to qualified companies through a program of incentives. While the IDA does not lend money, it offers a wide range of incentives to qualifying businesses to encourage job creation and job retention. These incentives include, but are not limited to, sales and mortgage tax exemptions, real property tax abatements and, in some cases, the issuance of tax-exempt bonds.