Community Partner Highlight: Catherine Maloney, President and CEO at the Dutchess County Economic Development Corporation
1. How long has your organization been in the business of helping businesses?
The Dutchess County Economic Development Corporation began in 1978 and has been operating for 36 years. We work with businesses currently located in the county, as well as those looking to relocate and expand in targeted industries including technology, healthcare, tourism and telecommunications. We offer a full array of financing options available from revolving loan funds, to bank and lending institution support, to conduit financing through the Industrial Development Agency or the Local Development Corporation. We also work with the state programs to take advantage of available tax credits. We provide a wide range of services that a business would need.
2. What's been your organization's biggest hurdle in achieving its goals of helping businesses throughout Dutchess County?
A challenge that we face is managing expectations. We realize that businesses get bombarded with messages from different organizations about what’s available. It’s our job to understand the project and what the businesses needs are, so that we can then guide them to the programs that are going to maximize their benefit.
3. Describe any major accomplishments for your organization over the last year.
One of the accomplishments that I'm most proud of is the design and launch of our new website. Two days after launching, the website was judged and received the 'Best in Class' award from the New York State Economic Development Council.
In addition, we've seen many accomplishments in our business sector. A vacant 25,000 square foot building is being renovated into a trampoline sports activity center and fitness club. This is being accomplished with a $13 million dollar investment. In Dover, 500 acres of property was sold to Olivet Management, a higher education institution that's planning a multi-purpose redevelopment with the potential to create up to 1,000 jobs. We're excited about this.
Additionally we're seeing peaked interest with breweries in the county. We're seeing a couple in the renovation stages that are expected to open soon. We have a hops growing company in the county and we're seeing interest from distillers, as well. Spirits and beer are becoming popular.
4. What are the key strategic goals for your organization over the next year?
We always have the underlying goal of creating and retaining jobs. We are looking to create a diverse and sustainable economy over the upcoming year. We're looking to develop our competitive portfolio of development sites, so that we are poised to attract new businesses to the county. We want to work at encouraging entrepreneurship and are continuing our systematic outreach to existing businesses to ensure they have the tools necessary for success.
5. What should a business owner know about your organization?
They should know that we're here, ready to help, and that we offer a broad array of assistance to both existing companies that are currently located in the county, as well as those looking to relocate and expand. We have a fantastic staff that really enjoys helping to coordinate the state and local resources that help companies maximize their benefits.
6. Where can they get more information about the Dutchess County Economic Development Corporation?
On the website: thinkdutchess.com
7. Describe your partnership with NYBDC and why it helps your organization achieve its mission.
NYBDC provides a really necessary service. I've had a long term relationship with NYBDC since the late 2000s when I first started working with the staff based out of Albany. The NYBDC employees are helpful, motivated and thorough. I enjoy it when I have the opportunity to call and ask for help on a project. I then know it's going to be successful.