Syracuse Economic Development Corporation

The Syracuse Economic Development Corporation is a public authority that acts as the City’s revolving loan fund. The fund provides low interest rate (3% - 5% depending on geographic area) and favorable term (up to 15 years depending on project) gap financing for small business expansion, startup, or relocation within city limits. Loan amounts range between $15,000 and $125,000, and are used for property renovation, acquisition, furniture, fixtures, and equipment. In 2017 SEDCO added the ability to provide SBA 7A lending through the ‘Grow Syracuse Fund’ in partnership with the National Development Council (NDC), which allows for up to $2 million in additional loan capital for projects that need more than the usual $125,000 maximum SEDCO can lend.

Committees

Audit Committee

  • Richard Driscoll
  • David Mankiewicz
  • Jennifer Tifft, Ex Officio

Governance Committee

  • Richard Driscoll
  • Nicholas Petragnani
  • Jennifer Tifft, Ex Officio

Finance Committee

  • Hon. Michael Greene
  • Sheena Solomon
  • Jennifer Tifft, Ex Officio

Loan Committee

  • Stephen Gross
  • Michael Quigley
  • Sheena Solomon
  • Ps. Ashanti Dickerson
  • Jennifer Tifft, Ex Officio

More Information 

Associated Department

Division of Business Development

Contact

Contact/Office Name

Vaughn Davis 

One Park Place

300 South State Street, Suite 700

Syracuse, NY 13202

Email: VDavis@syr.gov
 Phone: (315) 448-8100

 

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Board Members

Eric Ennis, President

Richard Driscoll, Vice President

Sheena Solomon, Secretary

Nicholas V. Petragnani Jr., Treasurer

Andrew Fish, Member

Ps. Ashanti Dickerson, Member

Calvin Corriders, Member

Stephen Gross, Member

Mark Barbee, Member

Rita Paniagua, Member

Patrick Lannon, Member

Karolina Marcinkowski, Member

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