Greene County Economic Development, Tourism & Planning works throughout Greene County with companies of all sizes, including business start-ups, to grow and expand their businesses. From the concept phase to working with larger existing businesses that produce products used around the globe. Greene County’s Economic Development Office has the technical expertise to help your business with funding and site solutions, as well as connecting your business to experts in various aspects of business development.
Greene County has two economic development loan programs for job-creating business expansion projects: the Quantum Fund and the Microenterprise Assistance Program. In addition to the two loan programs, the Department can connect you to business planning services, additional loan resources, workforce training incentives and site selection assistance.
Please contact our office today to see how we can make your dreams into reality.
Greene County Planning and Economic Development, in cooperation with the Greene Business Partnership, recently completed work on a countywide Comprehensive Economic Development Plan providing a comprehensive assessment of the Greene County economy, and a set of prioritized strategic directions and actions that the county will use to improve the livability and quality of life for its residents, facilitate the creation of high-quality jobs, generate new investment in our communities and ensure the county’s long-term fiscal health.
The first phase of a “Downtown and Waterfront Revitalization Plan” for the Village of Catskill has been completed focusing on the most critical areas for revitalization efforts. Catskill has enormous potential to become a regional tourism destination, as well as a hub for local activity, if existing restaurants, retail shops, services, boating amenities, public spaces and entertainment activities are complemented by the creation of additional businesses, parks, public amenities and water-related activities are created in strategic locations around the village.
For the Executive Summary sheet PDF click here
For a PDF of the Downtown and Waterfront Enhancements Summary Design Report, click here.
As part of its Main Street Revitalization Program, the County worked with the Town of Cairo on the creation of its first Main Street Strategy. The Strategy analyzed the physical and business conditions in the Main Street study area, which is the entire Main Street from its connection with Route 23 east to its connection at Route 23 west. Dadras Architects, a nationally-recognized Main Street revitalization firm prepared the Plan with the assistance of the County Economic Development, Tourism and Planning Department.
Greene County offers two low-interest loan programs to help businesses obtain capital for job-creating expansion projects. The Quantum Fund can provide up to $20,000 in loan assistance for each full-time equivalent job created up to a maximum of $400,000, funding up to 50% of an expansion project in coordination with bank financing. The Microenterprise Assistance Program (MAP) provides up to $25,000 in loan assistance with the minimum requirement of the creation of one full-time equivalent position or the equivalent of 2,080 hours per year. MAP assistance can fund up to 90% of total project cost, making it ideal for start-up businesses with limited capital and resources.
Loan proceeds from the County may finance acquisition, renovation, working capital, inventory, furniture, fixtures and equipment.
Along with our loan programs, Greene County can assist your business to access regional, State and Federal funding and resources that can help your business grow.
Amount Available: $20,000 -$400,000
Matching Funds: Quantum Fund loans can provide a maximum of 50% of the project financing. The remaining financing may be bank financing, other private financing and owner’s equity. There must be sufficient collateral to secure all financing, so an owner’s equity contribution is strongly encouraged.
Interest and Terms: The interest rate for GreeneCounty loans is 1⁄2 prime rate + 1%. The current rate is 2 5/8%. $20,000-$50,000 – re-payment in up to 7 years. $50,000-$100,000 – re-payment in up to 10 years. Over $100,000 – re-payment in up to 15 years.
Job Ratio: Typical projects create a minimum of one full-time equivalent job for each $20,000 of Quantum Fund financing provided. Jobs created must be taken by or made available to low and moderate income persons.
All projects must demonstrate a need for below-market financing. The loans are not intended to replace available bank financing but instead serve as “gap” or “subsidy” financing. “Gap” loans are defined as those that provide funds needed to complete a total project that would otherwise not be available from other sources. “Subsidy” financing comes into play when sufficient funds are available from other sources, but the cost of these funds are at a level as to render the total project financially unfeasible. The economic development loan is therefore required for a lower total project funding rate.
Amount Available: Up to $25,000
Minimum Equity Infusion: 10%
Greene County has received funding from the NYS Office of Community Renewal for the County to administer grants for eligible microenterprise businesses. Grants are now available on a first-come, first-served basis, as long as grant funds are available to the county. The maximum grant is $25,000, matching funds are required, job creation is required, and completion of a small business training class is required. Please make inquiry to determine if you would qualify and to complete our Master Loan Application.
Loans: Interest Rate is one-half of the current prime rate plus 1%. Loan terms may extend for up to five years.
Funding is continuously available through the County’s Revolving Loan Fund as long as there is money available. Completion of a satisfactory County Master Loan Application is required, along with County approval. Completion of a business training class is strongly encouraged.
The Greene County MAP, administered by the Greene County Department of Economic Development, Tourism and Planning, assists in the establishment and expansion of small businesses that are start-ups or have five or fewer employees, one of which is the owner, and the creation of new jobs through business training, funding and technical assistance.
All business sectors – including industry, retail, services, agriculture and tourism – are eligible for the program, which is open to:
The MAP provides low-interest loans, and when available, deferred-payment loan funds, of up to $25,000 for job-creating projects in the County. The MAP assistance requires a minimum cash infusion of 10% of the total project cost, and can be used for acquisition, renovation, working capital, furniture, fixtures, equipment or any other reasonable business expense.
The Buy in Greene – Invest in Greene program encourages businesses to locate, grow or expand in Greene County, while encouraging residents to shop, dine and buy services locally. This program adds to the strength of our local economy by helping to create and sustain jobs, while increasing our tax base revenue and invigorating our main streets and business centers.
Our economic development team is motivated to help your business thrive in Greene County. We have a dedicated staff that is on-hand to assist you through all phases of business growth from start-up to expansion. If you are looking to start or relocate your business, our team has an inventory of available retail, industrial and commercial spaces and we will help you choose the best location based on infrastructure considerations. We also understand the nuances of business financing and will help you choose the best financing partner or program based upon your needs and resources. Our website www.InvestInGreene.com has links to our many plans, studies and demographic data as well as more information about Greene County. If you are interested in opening or expanding your business contact Teri Weiss directly at email@example.com or 518-719-3285.
We are also focused on attracting consumers to the towns and main streets of Greene County. We have a well-rounded outreach campaign that targets tourists, commuters, regional shoppers and second homeowners. These motivated shoppers are looking for the products and resources that your business can provide. Visit the www.BuyInGreene.com website for a directory of businesses to find out more about their offerings.
Business Advisory Committee BAC
Mark Maraglio, Chairman National Bank of Coxsackie
Kevin Lewis, Legislator Economic Development & Tourism Committee (Greene County Legislature)
Linda Overbaugh, Legislator (Greene County Legislature)
Karen Deyo, Realtor Rip Van Winkle Realty
Stephen Nelson, Vice-President The Bank of Greene County
Allen Austin, The Bank of Greene County
Eric P. Rasmussen, Owner Hotel Vienna
Brad Cummings, CPA of Pattison, Koskey, Howe & Bucci