AEDC March Newsletter 2023

Welcome Cheyenne and Molly to AEDC's Board

Cheyenne Steria- Director of Finance & Incentives-Lewis County IDA/Naturally Lewis

Molly Ryan, Executive Director Clinton County IDA

Board of Directors

Wayne Thomas

James Lazore

James Rucker

Heather Couture

Barbara Criss

Rob Aiken

John Piseck Jr.

Michelle Capone

Amber Stevens

William Finucane

Tori Riley

Timothy Konanan

Patricia Wilson

Cheyenne Steria

Molly Ryan

International Economic Development Council (IEDC) Leadership Summit

Executive Director Victoria Duley attended the IEDC Leadership Summit in Tuscon, Arizona where she enjoyed collaborating with new and old friends. Leaders gathered and shared best practices to explore industry trends and strategies to grow diversity and retain companies in established and emerging industries. Victoria spoke on a panel highlighting diversity in the workplace and the opportunities for improvement though remote/hybrid work.

Women's History Month

We celebrate the countless women who have fought tirelessly and courageously for equality, justice, and opportunity in our nation. AEDC salutes our amazing women entrepreneurs and partners!

https://womenshistorymonth.gov

Center for Businesses in Transition Conference

The AEDC team attended the Small Communities/ Big Opportunities Conference in Saranac Lake, NY hosted by the Center for Businesses in Transition and the Adirondack North Country Association.

Cori Deans, Owner of Small-Town Cultures was a Keynote Speaker. Cori, an AEDC client, has been highly successful creating fermented foods that are probiotic-rich and simple to use.

Stephanie Donaldson, Entrepreneurial Program Manager at AEDC spoke as part of a panel on Resources, Financing and Partners.

Steven Garneau, Loan Program Manager at AEDC spoke as part of a panel on Financing Your Purchase.

AEDC clients engaging with Chad Czelusniak-Serviss, AEDC Opportunities Counselor.

AEDC Clients, Three Bears Gluten Free Baker Owners: Chris Durand and Faye Ori.

Russ Kinyon, of Franklin County Economic Development, Stephanie Donaldson (AEDC) and Jeffrey Boyce, SBA-Upstate New York Branch Manager.

AEDC is a Community Development Financial Institution (CDFI)

What is a CDFI?

AEDC has been a designated CDFI for more than 30 years and is proud to work within this program bringing opportunity to distressed communities.

www.cdfifund.gov

Adirondack Small Business Capital Access Fund

AEDC is excited to embark on a new program in 2023 using funds sourced from several private investors. These entities have invested nearly $1 million for the purpose of relending to small businesses and non-profit organizations. An anticipated nearly $1 million match by New York State is being leveraged through these committed funds The project focus areas include: Clinton, Essex, Franklin, Hamilton, Herkimer, St Lawrence, Warren and Washington counties of New York State.

The funds will close funding gaps for important projects across the region. This represents the first time that AEDC has held funds for lending to reach the non-profit sector and for bridge loans.

Highlight:

Woodshed on Park

Tupper Lake

Tweak & Associates LLC, dba Woodshed on Park received loan funds for this restaurant that will be opening in Tupper Lake under the ownership and management of Evan Sloan and Siobhan Spencer.

The vision for the space is to bring a cozy, unique experience to those looking for signature drinks and small plates to enjoy with friends and family while relaxing in a warm and inviting atmosphere.

CONGRATS AND GOOD LUCK EVAN AND SIOBHAN. FROM THE AEDC TEAM !

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