Why ROC: Economic Gardening Program

Greater Rochester Enterprise is currently inviting local companies to apply for its Economic Gardening program.

GRE Executive Vice President and Chief Operating Officer Matt Hurlbutt discussed the program Wednesday on News 8 at Sunrise during our Why ROC conversation.

Hurlbutt said 80 percent of economic growth comes from companies already located in the Rochester area.  Economic gardening is focused on nurturing local entrepreneurs by connecting promising, second-stage companies with the resources they need to grow.  A second-stage company is a company that’s moved beyond the startup phase.

GRE’s Economic Gardening program is offered at no charge to those companies that meet the following eligibility guidelines:
Privately held
Headquartered in Monroe or Ontario Counties
Generate between $1 million and $50 million in annual revenue
Employ 10 to 99 employees
Have maintained principal operations in our area for a minimum of two years
Demonstrate growth in employment or revenue for at least two of the past five years
Provide products/services to markets outside Rochester

Hurlbutt said second-stage companies account for 11 percent of the regional economy but generate 36 percent of jobs.  Since its inception in 2012, the Economic Gardening program has helped 57 second-stage companies and created 150 new jobs.

Business leaders can apply for the program on a rolling basis throughout the summer.  To learn more about GRE Economic Gardenign or submit an online application, click here.  

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