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What has UCDC done in the past five years?

Lance Matteson May 18, 2012 The mission of the Ulster County Development Corporation (UCDC) is to promote quality jobs and investment in Ulster County. The County, the Ulster County Industrial Development Agency (IDA), and the private sector provide the needed funding. UCDC works with a variety of partner agencies and institutions. Clearly, jobs and investment projects flow from the involved employers. They take the risk, buy and develop the real estate, invest in the equipment, make things and deliver services in a , and write the pay checks. But make no mistake: UCDC projects are driven to fruition by UCDCs professional economic development staff, supported by volunteer board members. Most jobs created or retained in UCDC projects pay well, i.e., above the median wage. The projects usually create new tax revenues even after taking into account the tax incentives that some receive. Some projects involve full IDA incentives, some bonding, some UCDC loans. All involve hard work. So what has UCDC accomplished in the last five years a period dominated by the worst economic collapse since the Great Depression? Part of the answer is that, during the last five years, UCDC directly facilitated the following Ulster County projects and activities, which produced more than $180 million in investment and more than 600 jobs retained or created and which remain in place as of this writing: o Six manufacturing and distribution projects (Ameribag, Amthor, Elna, Gillette, Precision Flow, and Selux) involving more than 443 jobs 233 retained and 210 new and over $15 million in investment. o Five tourism and hospitality projects (Diamond Mills, Global Palate, Rocking Horse Ranch, The Falcon, Tuthillhouse at the Mill) involving 73 new jobs and over $16 million in investment. o Seven services projects (Center for Spectrum Services, Costas & Tate, Gardiner Library, Kingston Hospital, Mid-Hudson Valley Federal Credit Union, EmUrgent Care, and Woodland Pond) involving more than $136 million in investment and 138 new jobs. o Four industrial infrastructure projects (Saugerties Central Hudson substation, Saugerties sewer and water lines, Lloyd water lines, Marlborough industrial park roadway) involving about $13 million in investment. 1

o The Ulster Tomorrow Sustainable Economic Development Plan, unanimously adopted by the County Legislature after a community-wide process, and in the process of implementation. o Advocacy and support for development of shovel ready sites, including generic environmental impact statements or conceptual master plans for TechCity (Ulster), Winston Farm (Saugerties), and the Kings Highway Corridor (Saugerties) and administration of the Ulster County Ready-toGo program supporting pre-approvals of appropriate industrial site plans. o Business support after Irene and Lee Storms, serving with our development partners as an information resource for businesses damaged by severe weather. o Economic development process and accountability improvements such as establishing an active audit committee, ethics and conflicts of interest policies, public annual reports and financials, a recession-driven business retention program, inclusion of workforce development and education at all levels in economic development, regular coordinating meetings among economic development partners, support for a successful business advocacy and education group, and compliance with extensive new State regulatory requirements. o Critical problem solving and business support and referral services to businesses throughout Ulster County including active participation in the initiative to promote exports to China. o Support for new investment and jobs growth from dozens of earlier UCDC and IDA projects plus support for millions of additional dollars in investment and hundreds of additional jobs retained and created through UCDCs regular business support services. In conclusion, UCDC has proven itself useful and productive during exceptionally challenging economic times. Ongoing support and stable funding from the business community and elected officials will be essential in order to maintain and improve UCDCs continuity, professionalism, and effectiveness.