NYS Economic Development Council (NYSEDC) - Virtual Economic Development Conference

Revisiting the IDA Emergency Loans and Grants Program and Best Practices for Implementation

In 2020, the legislature passed and the governor signed a law giving IDAs the emergency authority to create a loan or grant program to aide businesses impacted by the COVID-19 pandemic. This is one of the first occasions in over a decade that gave IDAs additional tools to help businesses in their community. While the pandemic is still impacting New York, the need for support for businesses remains high.  This session will provide a recap and overview of the legislation; hear from two IDAs who have successfully set up a loan/grant program in their region.

• Chris Canada, Hodgson Russ, LLP
• Sean Maguire, Town of Colonie IDA
• Sarah Reginelli, Capitalize Albany Corporation