08.02.06

Schumer:$1.1 Million Coming To Greater Glens Falls Development Corporation

Funds will be used for a business incubator and education facilityNew Grant Will Help Create 60 New Jobs in Glens Falls

US Senator Charles E. Schumer today announced that $1.1 million in federal funds was awarded to the Greater Glens Falls Development Corporation to assist in the funding of a business incubator and education facility. The funds are being awarded through the Economic Development Administration's Public Works Program in the U.S. Department of Commerce. "This is great news for Glens Falls and the entire region," Schumer said. "The business incubator and education facility will bring the best and the brightest together and mean a big boost for the local economy. This is the latest example of Glens Falls developing into a thriving center of business activity."

The Greater Glens Falls Development Corporation will use this investment to help fund a hightech business incubator and education facility in Glens Falls. This will create 60 permanent new jobs, and generate $8.5 Million in private investment.

The Economic Development Administration's mission is to lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy. The Public Works Program empowers communities to revitalize, expand, and upgrade their infrastructure to attract new industry, encourage business expansion, diversify local economies, and generate or retain longterm, private sector jobs and investment.



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