Posts Tagged ‘economy’

SUNY Canton SBDC Has Record Impact on Local Economy

Friday, October 19th, 2007

The Small Business Development Center (SBDC) at SUNY Canton has had the best year ever, according to Director Dale Rice.

“The economic impact of the businesses that received our assistance in the past year has almost equaled the total economic impact for our past seven years of operation,” Rice said.

From Jan. 1, 2006 through September 30, the Canton SBDC’s clients recorded more than $24 million in economic impact as compared to the more than $25 million of economic impact reported from 1998 to 2005. The economic impact figure is tabulated by combining investments by entrepreneurs, financial institutions, and economic development agencies which resulted in the opening or expansion of a business.

In addition to economic impact, the SBDC also tracks the creation and retention of jobs by new and existing businesses. These figures show marked improvement with 752 jobs recorded from October 1998 to December 2005, and 284 jobs being created in the past 21 months.

“A key factor contributing to this increased investment by SBDC-assisted businesses is our effort to strengthen our strategic partnerships with local lenders and economic developers,” Rice said. “We have worked closely with several agencies to increase client funding, but Raymond Fountain (St. Lawrence County Industrial Development Agency Director of Economic Development) and Patrick Kelly (Deputy Director) have been particularly supportive of our center’s efforts to assist the business community.”

Rice also said Senator James Wright and SUNY Canton President Dr. Joseph Kennedy contributed continuing support to the SBDC program. “Senator Wright and Dr. Kennedy worked diligently to have the SBDC at SUNY Canton,” Rice said. “If it weren’t for them we wouldn’t be here to offer our assistance to the area’s small businesses.”

The New York State SBDC recently underwent a state-wide accreditation review and was recertified without limitations or restrictions for the next four years. Accreditation without conditions is a level only attained by about 10 percent of all programs nationally.

The SBDC has been helping start-up and existing small businesses through all phases of growth for over 20 years. Advisors also provide free individual counseling on business planning, tax requirements, financial analysis, government procurement, compliance issues, and record keeping in addition to periodic training sessions on a variety of business related topics. To schedule an appointment with the SUNY Canton SBDC, call 315-386-7312.