Cortland has created a one-stop for business planning and development that is a national model. The US Small Business Administration has selected the Cortland BDC/IDA for its 2003 Financial Services Advocate of the Year Award given for the Upstate SBA region based out of Syracuse. The BDC will receive the award on May 9 at a gala luncheon sponsored by the US Small Business Administration and the New York Business Development Corporation to celebrate Small Business Week.

The BDC/IDA works with small businesses to access a variety of state, county and local resources, including:

• Financing for fixed assets, working capital and infrastructure development
• Market development assistance
• Research development and product commercialization assistance
• Small business development assistance
• IDA financing and tax incentives
• Venture capital

The Cortland BDC was also selected as one of three national finalists for the coveted US Economic Development Administration's Excellence in Economic Development Award. Senator Hillary Rodham Clinton nominated the BDC/IDA for the annual award which recognizes innovative economic development programs and strategies from across the nation. The BDC/IDA was nominated in the category of Rural Economic Development for its work retaining and attracting business and industry to Cortland.

In her letter supporting the nomination, Senator Clinton praised the BDC/IDA for its work. "The source of the BDC/IDA's real success lies in its ability to pinpoint and focus on the major issues facing the county. Whether preserving the downtown historic district, adapting older industrial buildings for new uses, or implementing brownfields redevelopment projects, the BDC/IDA has built a sense of community pride and common purpose for job creation and retention."

The BDC/IDA was notified by David Sampson, Assistant Secretary of Commerce for Economic Development for the United States Department of Commerce, that it was one of the three finalists. Sampson called the BDC/IDA to personally offer congratulations on making it to the finals. "This was a highly competitive award competition," he noted, "and I want you to know how much we appreciate your hard work."

The Excellence in Economic Development Awards are presented by the US Department of Commerce's Economic Development Administration. The awards are designed to showcase best practices and highlight outstanding results in economic development. The competition is open to nonprofit organizations, nonfederal government bodies, and universities and colleges. An independent panel of economic development practitioners, academics and government representatives make the award selections.