The State University of New York at Fredonia announced today that a donation has been made to the Fredonia College Foundation which will greatly enhance the university's appeal to potential Start-Up NY entrepreneurs.
The foundation has been gifted the 25,000-square-foot office building that served as headquarters for the Cliffstar Corporation prior to its sale to The Cott Corporation in 2010. The facility, a gift of the Star Family, was formally appraised in late 2013 as having a value of $1.65 million.
The two-story office building is located at 60-62 Franklin Ave., in Dunkirk, N.Y. It is approximately 18 years old, and its adjacent parking lot accommodates 100 cars. It will be used to assist in recruiting one or more businesses to the community through the state's new Start-Up NY economic development initiative.
"We are very pleased to be able to accept this significant gift on behalf of the university," said Fredonia College Foundation Executive Director David Tiffany. "This gives our region an additional asset that will be far more appealing to an existing, relatively mature business than what we currently offer typical, true start-up entrepreneurs within Fredonia's Technology Incubator. It also provides yet another opportunity for students to gain internships and post-graduate employment, and it provides the potential employer with a rare opportunity to align itself and its workforce with one of the top public universities in the northeast."
Fredonia's Vice President for Economic Development and Engagement Kevin Kearns, who oversees both the incubator and the campus' role within the Start-Up NY initiative, echoed Dr. Tiffany's sentiments.
"This facility should benefit both the Chautauqua region and the Fredonia campus," Kearns said. "The synergies this could provide for our community - be they existing businesses, Fredonia students and faculty, or average, tax-paying residents - could be substantial. We believe this will draw more people to the county - especially Fredonia alumni who might be interested in returning to the area - which ultimately means more jobs will be created, and more money will be spent right here in the community."
To be eligible for the Start-Up NY program, a business must either be a new company in New York State; an out-of-state company that is relocating to New York; or, an expansion of a company that already has employees in New York and is capable of demonstrating that it is creating new jobs, as opposed to moving existing jobs from elsewhere in the state. New companies cannot be in direct competition with existing area businesses, and those in the retail, wholesale, restaurant and hospitality industries, as well as a variety of service-based professions are also ineligible.