U.S Commerce Department leader Anthony Foti was in Celoron Wednesday to award Chautauqua County's Industrial Development Agency $10.5 million in federal CARES Act funding.

What You Need To Know

  • Chautauqua County IDA awarded $10.5M in COVID relief funds
  • Money awarded by Commerce Department to create low interest loan funds for struggling small businesses
  • Erie County IDA and Niagara County IDA also awarded funding
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"Small businesses are the life blood of our communities," said Anthony Foti, U.S. Commerce Department Intergovernmental Affairs director.

The money will be used to establish new low interest loan funds to help struggling small businesses recover from the COVID-19 pandemic.

"They will provide small businesses in Western New York with the necessary capital to rebound from the coronavirus pandemic, and in turn, create a stronger, more resilient state economy for the future," said Foti.

"I think we're going to help more people to retain their jobs, grow their businesses and keep Chautauqua County the beautiful place that it is," said Rich Dixon, Chautauqua County Industrial Development Agency CFO.

The funding is part of an overall $19 million grant package to the state from the department's economic development administration.

Chautauqua County is one of six regions receiving the funds to help create economic investment and opportunities for people across Western New York. 

"And what does that mean for those people? It means food on their table, a roof over their head, and a place to call home for generations to come," said Rep. Tom Reed, (R) 23rd Congressional District.

State leaders on hand say the funds will be another tool to supplement the state's response in helping small businesses survive the pandemic.

"It will be a lifeline to so many businesses that are facing failure. And that's really what we have to worry about most right now with the economic impact of this," said George Borrello, (R) Senate-Sunset Bay.

County leaders say the funding will keep workers employed, and could keep businesses from closing.  

"And businesses who may leave Chautauqua County will be able to stay here. Will be able to prosper, will be able to use our lake, will be able to provide for their families for decades and future," said PJ Wendel, (R) Chautauqua County executive.

City leaders say the funding will bring critical economic development stability to businesses in Jamestown and Dunkirk.

"Communities in our county are becoming economically distressed due to this pandemic. And these funds will certainly help us," said Willie Rosas, (D) Dunkirk mayor.

More than $5 million was awarded to Erie County's IDA, $737,000 to Niagara County's IDA, and $660,000 to Southern Tier Enterprise Development Organization in Salamanca.

The EDA investments announced Wednesday are:

  • County of Chautauqua Industrial Development Agency, Jamestown, New York, will receive a $10.5 million EDA CARES Act Recovery Assistance grant to capitalize and administer an RLF that will provide loans to coronavirus-impacted businesses in Chautauqua County, New York
  • Erie County Industrial Development Agency, Buffalo, New York, will receive a $5.4 million EDA CARES Act Recovery Assistance grant to capitalize and administer an RLF to provide loans to coronavirus-impacted small businesses in Erie County, New York
  • Central New York Regional Planning and Development Board, Syracuse, New York, will receive a $1.2 million EDA CARES Act Recovery Assistance grant to capitalize and administer an RLF to provide loans to coronavirus-impacted small businesses in Cayuga, Cortland, Madison, Onondaga, and Oswego counties
  • Niagara County Industrial Development Authority, Sanborn, New York, will receive a $737,000 EDA CARES Act Recovery Assistance grant to capitalize and administer an RLF to provide loans to coronavirus-impacted small businesses in Niagara County, New York
  • Southern Tier Enterprise Development Organization, Salamanca, New York, will receive a $660,000 EDA CARES Act Recovery Assistance grant to capitalize and administer an RLF that will provide loans to coronavirus-impacted businesses in Allegany, Cattaraugus, and Chautauqua counties
  • Regional Economic Development and Energy Corporation, Steuben, New York, will receive a $550,000 EDA CARES Act Recovery Assistance grant to capitalize and administer an RLF to provide loans to coronavirus-impacted small businesses in Chemung, Schuyler, and Steuben counties