Supporting Private Sector Job
Growth Since 1966
The Mohawk Valley
Economic Development District, Inc.
Since 1966, forging collaboration and cultivating funding for the shared interests of
Fulton, Herkimer, Montgomery, Oneida, Otsego & Schoharie Counties
In New York State, The Mohawk Valley Economic Development District, Inc. (MVEDD) is one of nine economic development districts (EDDs) and one of seventeen revolving loan fund grantees of the United States Department of Commerce Economic Development Administration (EDA), serving the counties of Fulton, Herkimer, Montgomery, Oneida, Otsego and Schoharie.
Established in 1966, MVEDD is a private, not-for-profit corporation formed to fulfill the EDA mission in our region, which is “…to create and retain jobs and to help stimulate industrial and commercial growth in distressed rural and urban communities across the nation.”
We accomplish this by serving as a subordinate lender to small businesses in "The District," supporting the EDA funding applications of our region's municialities seeking infrastructure improvement grants, and serving as a source of regional action on projects that minimize the tax burden and maximize collaboration.On behalf of our MVEDD membership, we invite you to become a member of our non-profit, public benefit corporation.
Please contact us for more information.
Mohawk Valley Rehabilitation Corporation
MVEDD administers The Mohawk Valley Rehabilitation Corporation (MORECO), an EDA Title IX (Federal) Revolving Loan Trust Fund. MORECO itself administers a Regional Revolving Loan Trust Fund from the New York State Urban Development Corporation (NYS UDC). Both funds allow MVEDD/MORECO to serve as a subordinate lender, providing up to 30% of a project's costs; 10% will be required from the borrower. We will not participate in a project where financing can be obtained through conventional means.
- EDA funds can be applied to building purchase/renovation, land, machinery & equipment, fixed assets and working capital.
- UDC funds are for working capital.
- Neither program can be applied to refinancing of existing debt.
- Both programs require the one job must be created or retained for every $10,000 of MORECO financing.
For more information, visit the MORECO webpage.
Greater Mohawk Valley Land Bank
We have a new bank. A land bank, that is. It's the Greater Mohawk Valley Land Bank, and its mission is to strengthen communities across the Mohawk Valley Region by returning neglected and abandoned buildings to productive use.
The October 2016 approval of its charter by New York State Empire State Development is the culmination of a nearly three year effort of Keep Mohawk Valley Beautiful (KMVB), a committee of The Mohawk Valley Economic Development District.
A fully-independent not-for-profit corporation, The GMV Land Bank is truly regional, operating with an agreement between the governments of Herkimer, Montgomery, Otsego, and Schoharie counties and the cities of Rome and Utica.
Check out the GMV Land Bank's webpage at www.GMVLB.org.
Keep Mohawk Valley Beautiful Launches 2017 Great American Cleanup Effort
Keep Mohawk Valley Beautiful (KMVB), a six-county NYS affiliate of the national Keep America Beautiful (KAB) program, is launching the 17th annual Great American Cleanup, scheduled for April 1 – May 31.
By registering your Great American Cleanup event on the ohswa.org website, you are eligible to receive free materials including gloves, trash bags, banners and other assistance.
To register your event or volunteer your time, visit www.ohswa.org. (Click Great American Cleanup.) Additionally, if you would like to report a site that needs to be cleaned or rehabilitated, call the Litter Hotline at (315) 733-1224 ext. 3232. To donate funding or materials, call (315) 219-2112
Keep Mohawk Valley Beautiful (KMVB) is a a standing committee of the Mohawk Valley Economic Development District, with a mission to support environmentally sustainable economic development efforts in order to build communities with a more robust economy and vibrant community life.
Read all about:
- Our June 26 membership dinner meeting at the American Hotel in Sharon Springs,
with guest speaker Dr. Jason Evans, professor at SUNY Cobleskill
- The June 26 tour of SUNY Cobleskill's Agribusiness Incubator with Dr. Jason Evans
- Our (upcoming) September 25 membership meeting at the Canajoharie Golf & Country Club,
with guest speaker Dr. Robert Edgell, interim dean of the School of Business at SUNY Poly
- Clean Energy Programs that can save your community money
- How we can Keep Mohawk Valley Beautiful
- Paperkite Creative's business expansion in Cooperstown