Saratoga Economic Development Corporation

The Saratoga Economic Development Corporation (SEDC) is a private sector, non-profit consulting firm established in 1978 to promote economic development in Saratoga County, New York. As a 501(c)(3) organization, it focuses on community improvement and urban economic development.

Purpose and Activities

SEDC serves as a primary resource for businesses considering investment in Saratoga County. It collaborates with state, regional, and local governments, as well as private sector stakeholders, to streamline the investment process. The organization provides services such as financial planning, site analysis, tax planning, and employment training to support new and existing businesses. It also coordinates available incentives to attract and retain companies.

SEDC has played a pivotal role in the economic development of Saratoga County by bringing together private business and government. Over its history, it has helped generate significant economic growth through the attraction of major industrial businesses and the creation of thousands of jobs.

Achievements and Impact

SEDC's contributions to Saratoga County's economy are notable. It has been instrumental in attracting iconic businesses such as Ball Metal Corporation, State Farm, and GlobalFoundries. In more than 45 years, SEDC has facilitated the creation of over 18,500 new jobs and $18 billion in investments, contributing substantially to the county's economic well-being.

SEDC also played a crucial role in the development of the Luther Forest Technology Campus, which became a significant economic development project in New York State by attracting AMD, now known as GlobalFoundries.

Current Initiatives

Today, SEDC continues to support a diverse range of sectors, including life sciences, advanced manufacturing, and renewable energy. It works closely with educational institutions and workforce agencies to expose young people to vital trades and careers essential for future development.

SEDC collaborates with various regional and state agencies to ensure comprehensive economic development strategies. It highlights the region's rich history and quality of life as key attractions for businesses.

Structure and Funding

As a non-profit organization, SEDC relies on contributions and program services for its funding. Donations to the organization are tax-deductible. SEDC operates with a commitment to confidentiality and expertise, distinguishing it from other economic development organizations.

References

• citizensecure: not used as no specific link was provided in the search results.
• Saratoga Economic Development Corporation
• About SEDC
• Saratoga Economic Development Corporation Financials