Local Agencies Partner to Form
Innovation, Acceleration Center
ONEONTA
Otsego Now, the umbrella organization of the Otsego County Industrial Development Agency and the Otsego County Capital Resource Corporation, is set to launch the county’s first Innovation and Acceleration Center, the primary focus of which will be bringing a booming tech and manufacturing industry to the region.
According to a recent press release, during the COVID-19 Pandemic, the IDA witnessed a devastating economic loss due to the lack of tourism. The hospitality industry currently makes up 25 percent of the industry sector in Otsego County. When the tourist sector was forced to shut down, the county’s sales tax dropped 30 percent and bed tax dropped by 50 percent. Roughly 60,000 tourists stopped coming to Otsego County. After witnessing this, the IDA identified manufacturing as a growth sector to the local and surrounding economy.
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