Investing in Our Community
The Onondaga County Office of Economic Development supports the community through the management of the Onondaga County Civic Development Corporation (OCDC) and The Trust for Cultural Resources of the County of Onondaga (CRT).
Onondaga County Civic Development Corporation
OCDC supports Onondaga County government, businesses and nonprofit organizations. OCDC uses available financial and policy incentives to stimulate economic growth, lessen the burdens of government, promote job creation and retention, generate prosperity, improve the quality of life of residents, and encourage economic vibrancy.
OCDC’s mission is to support economic development in Onondaga County by providing financial and technical assistance to businesses and organizations. OCDC also acts as a conduit bond issuer on behalf of nonprofits, which allows them to access low-cost capital financing opportunities.
the Trust for Cultural Resources
CRT supports, promotes and protects the institutions that provide cultural, educational and recreational opportunities to the people of Onondaga County and New York state. The Trust works to improve the viability and support the growth of these organizations. CRT offers local, convenient and economical financing opportunities for Onondaga County’s nonprofit cultural establishments in line with the cultural and economic development priorities of the area.
CRT is also a public benefit corporation and an authorized issuer of bonds for nonprofit cultural organizations like educational institutions, museums and theaters that are more than five years old. In addition, the administrative fees paid to CRT are used to assist with the cultural and economic development priorities of Onondaga County.
Onondaga county opportunity fund corporation
The Onondaga County Opportunity Fund Corporation (OCOF) provides financial assistance to businesses operating in Onondaga County (excluding those based in the City of Syracuse) as a means of supporting business expansion, job retention, and job creation utilizing the statutory powers of the Local Development Corporation as set forth under the provisions of the laws of the State of New York.
OCOF offers financial support to small businesses. These programs include the Micro-Enterprise Fund, Small Business Assistance Fund, and the Community Impact Fund. The programs provide financing with a forgivable loan option for micro-enterprises (defined as businesses with 10 or less employees). The goals of this program are to enable Onondaga County businesses (excluding those based in the City of Syracuse) to pursue new investment opportunities and promote job creation. The program is designed to expand the local economy, and to encourage consumer confidence and access to local products and services provided by Onondaga County businesses.