Partnership has potential to attract, retain young professionals to Utica, NY area

The Foundation recently partnered with the Mohawk Valley Economic Development District, Inc. to make impact in the economic development of Herkimer and Oneida counties.

A $10,000 investment made by The Foundation will help MVEDD purchase new office furnishings as well as upgrade its office technology. The upgrades allow MVEED to conduct workshops and seminars educating local businesses and government of available funding sources related to economic development. Such funding sources carry with them the ability to bring in high-tech business that research shows has the potential to attract and retain young professionals – a shrinking population in Herkimer and Oneida counties from 2000 to 2013, according to hocindicators.org. Research indicates communities that attract and retain young professionals fare significantly better economically.

“Our partnership with The Community Foundation of Herkimer & Oneida Counties will provide sustainability to MVEDD and allow us to share important economic development resources with the community,” said Stephen R. Smith, MVEDD executive director.

Economic development is a core initiative of The Community Foundation.

The Mohawk Valley Economic Development District, Inc., 26 W. Main St., Mohawk, is a six-county economic development agency associated with the Economic Development Administration under the U.S. Department of commerce. Its member counties include Fulton, Herkimer, Montgomery, Oneida, Otsego and Schoharie. Visit mvedd.org for information.

Interested in economic development in our community? Read more.