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NYS, NY Federal Reserve and HVADC host Conference and Resource Expo

Oct 24, 2016

Small Business Owners Meet Financial Industry Representatives to Learn About Accessing Capital

Empire State Development (ESD) today announced that Access to Capital, a free

conference and resource expo to help people in the food-and-beverage and agricultural

industries access capital and grow their businesses, was a resounding success, with

dozens of Mid-Hudson business owners coming out to learn about how to expand their


Numerous representatives from the financial industry and federal, state, and local

government agencies gathered at the Henry A. Wallace Center, at the Franklin D.

Roosevelt Presidential Library and Home, to give small business owners an inside

perspective on alternative funding sources, what lenders look for in potential borrowers,

and how to access potential international markets. The resource expo was a

collaboration between ESD, the New York State Department of Agriculture and Markets,

and the Federal Reserve Bank of New York, in partnership with the Hudson Valley

AgriBusiness Development Corporation.

“New York State’s talented entrepreneurs deserve all the support they can get,

especially when it comes to figuring out that next step to make their businesses grow,”

said ESD President, CEO & Commissioner Howard Zemsky. “At Access to Capital,

small-business owners learn about alternate funding sources and ways to expand and

increase their market potential.”

State Agriculture Commissioner Richard A. Ball said, “Access to Capital provides a

unique opportunity to get all the right people in the room together who can help small

businesses in the food, beverage and agricultural industries find solutions to challenges

they may be facing with funding matches and technical assistance. This resource expo

is a great way to connect the dots and ensure our New York companies are getting the

assistance they need to grow and for these industries to continue to thrive.”

“The agricultural industry is essential to the New York State economy, and the New

York Fed is committed to supporting this important sector,” said Anand Marri, Vice

President for Outreach & Education at the New York Fed. “Access to Capital events like

this can help New York food and beverage firms connect with local capital providers,

develop a better understanding about their financing options, learn how to access

international markets, and more. This marks our eleventh Access to Capital program

focused on agricultural enterprises and we look forward to continuing to work with our

partners to improve the livelihoods of farmers and food entrepreneurs across our


Todd Erling, Executive Director of Hudson Valley AgriBusiness, said, “As the Hudson

Valley’s only economic development agency specifically focused on the viability of the

agricultural economy in our region, we are dedicated to fostering new and growing

agribusinesses. Accessing capital can be one of the key, yet most challenging,

components for new entrepreneurs and those who are seeking to scale up their

businesses. Hosting this event in Hyde park is an excellent opportunity for producers

from the Hudson Valley to participate.”

“Under Governor Cuomo’s leadership ESD does more than ever to help small

businesses and create jobs in the Mid-Hudson Region,” said ESD Mid-Hudson Regional

Director Meghan Taylor. “The Mid-Hudson’s agricultural and food-and-beverage

industries are major sectors of our regional economy, and I am pleased to see such a

great turnout at this important forum.”

Access to Capital was first launched in 2014, with the goal of aiding owners of small

food, beverage, and agriculture businesses, who often have difficulty finding industry

lenders and entering international markets. Realizing that companies need capital and

markets to grow, ESD teamed up with the state Department of Agriculture and Markets

and the Federal Reserve Bank of New York to help business owners connect with

specialized banks, funds, investors, and government programs for their industries.

The first Access to Capital forum, held in Albany in 2014, was such a success that it

was expanded to four events across the state in 2015 and three this year. The previous

two were held in Rochester and Niagara Falls.

About Empire State Development

Empire State Development is New York’s chief economic development agency. The

mission of ESD is to promote a vigorous and growing economy, encourage the creation

of new job and economic opportunities, increase revenues to the State and its

municipalities, and achieve stable and diversified local economies. Through the use of

loans, grants, tax credits, and other forms of financial assistance, ESD strives to

enhance private business investment and growth to spur job creation and support

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