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ECONOMIC DEVELOPMENT GROWTH ENTERPRISES CORPORATION
ROME, NY · EIN 160874637 · Form 990 · FY2024 · Large ($10M-$50M) · mvedge.org
revenue
$10.8M
expenses
$6.9M
net assets
$31.2M
employees
18
volunteers
56
program ratio
92%
mission · from form 990

TO STRENGTHEN LOCAL BUSINESS, ATTRACT NEW INDUSTRIES AND TALENT, AND CREATE VIBRANT COMMUNITIES TO GROW THE MOHAWK VALLEY ECONOMY

profile · synthesized from sources

Economic Development Growth Enterprises Corporation, operating as Mohawk Valley EDGE, strengthens the regional economy by supporting business growth, attracting new industries, and redeveloping underutilized properties. The organization provides financing, grant administration, and strategic support to businesses in the Mohawk Valley region of New York. It focuses on key industry clusters including advanced manufacturing, IT/cyber, and agribusiness.

named programs · 5 · from sources

What they call their work

Brownfields Redevelopment
Assesses and redevelops contaminated properties through EPA-funded assessment and revolving loan programs
Business Assistance
Supports business growth and retention through capital projects, loans, and project financing
Business Attraction
Recruits new industries and investment to the Mohawk Valley region through global marketing and strategic site development
Grants & Grant Administration
Administers multiple state and federal grant programs including Excelsior Jobs, microenterprise, and rural development grants
Real Estate Management
Manages and develops real estate assets to support economic development and business expansion in the region
activities · 7 groups

What they do

  • Regional Economic Development Initiatives 3 activities
    • Facilitating major private-sector investments
      Facilitates large-scale private investments such as the $1.2 billion Chobani manufacturing plant at Griffiss Business and Technology Park by providing site readiness, coordination, and economic development support.
    • Providing ready-to-develop industrial and commercial sites
      Provides access to a growing portfolio of small, mid-size, and large development sites—including a 434-acre nanotech campus, a 16-acre advanced manufacturing site, and multiple fully serviced commercial lots—to attract new investment and support business expansion in the Mohawk Valley region.
    • Strengthening local businesses and attracting new industries
      Strengthens existing businesses, attracts new industries and talent, and builds a vibrant environment for companies and employees in the Mohawk Valley region through coordinated economic development initiatives.
  • Municipal and Community General Support 1 activity
    • Administering loan and grant programs for small businesses
      Administers multiple revolving loan funds and grant programs—including the Oneida County Microenterprise Grant Program and USDA Rural Business Development Grants—to support locally owned small businesses, drive investment, and retain jobs in the Mohawk Valley.
  • Land Bank Property Revitalization 1 activity
    • Developing reuse strategies for major redevelopment sites
      Develops and advances reuse strategies for significant former industrial or institutional sites, including the St. Luke’s Campus in New Hartford, to enable redevelopment for jobs, housing, and community growth.
  • Website Accessibility Implementation 1 activity
    • Ensuring digital accessibility of services
      Provides direct support via phone and email to individuals experiencing difficulty accessing website content or features, ensuring equitable access to information and services in compliance with applicable laws.
  • Small Business Technical Assistance 1 activity
    • Providing technical assistance to businesses
      Offers technical assistance and support to businesses, including help with business plan development and accessing capital, to promote growth and sustainability in the Mohawk Valley.
  • Smallholder Agricultural Development 1 activity
    • Supporting agricultural economic development
      Facilitates investment in local farms and farm-related businesses through partnerships and convenes regional stakeholders to advance agricultural economic development, including through an annual agriculture roundtable.
  • Uncategorized 1 activity
    • Brownfield remediation and site revitalization
      Conducts environmental assessments, remediation planning, and cleanup of brownfield sites across the Mohawk Valley region using EPA grants and other funding, including specific work at Mele Manufacturing, Legends Sports Bar, and St. Luke's Hospital.
financials · form 990 · fy2024
revenue
Total revenue$10.80M
Contributions & grants$5.95M55%
Program service revenue$4.39M41%
Investment income$150K1%
Other revenue$310K
expenses
Total expenses$6.89M
Program expenses92%
Admin / overhead8%
Fundraising0%
Salaries & benefits$1.68M
Grants paid out$189K
Largest expense lineProfessional Fees
balance sheet
Total assets$50.45M
Cash$7.58M
Investments$0
Liabilities$19.22M
Net assets$31.23M
Liquid reserves13.2 mo
5 years on record · 2020–2024 · YoY revenue +31.8%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 5
NameTitleHours/wkCompensation
SHAWNA PAPALE PRESIDENT 40 $207K
MAUREEN CARNEY CHIEF FINANCIAL OFFICER 40 $144K
CHRISTIAN MERCURIO VICE PRESIDENT PLANNING AN 40 $128K
STEVEN DIMEO FORMER PRESIDENT 40 $103K
NICHOLAS BRUNO SECRETARY, NON-VOTING 40 $99K
board members · 20
  • ALICIA DICKS — DIRECTOR
  • ANDY RUSSELL — DIRECTOR
  • ANNA D'AMBROSIO — DIRECTOR
  • BRIAN ANDERSON — DIRECTOR
  • BRIAN LOUGHLIN — DIRECTOR
  • CHARLES GREEN — DIRECTOR
  • DARLENE STROMSTAD — DIRECTOR
  • DAVID KAVNEY — DIRECTOR
  • DAVID M MANZELMANN — DIRECTOR
  • DENISE CAVANAUGH — EX-OFFICIO VOTING MEMBER
  • DOUGLAS WALTERS — DIRECTOR
  • EVE VAN DE WAL — DIRECTOR
  • GENO DECONDO — VICE CHAIR
  • GREG EVANS — DIRECTOR
  • GREGORY MATTACOLA — EX-OFFICIO VOTING MEMBER
  • JIM MCCARTHY — DIRECTOR
  • JOHN BUFFA — DIRECTOR
  • JOHN J PISECK — DIRECTOR
  • JOHN ROMANO — DIRECTOR
  • JOHN SNYDER — EX-OFFICIO VOTING MEMBER
relationships · 16

Who they work with

  • EPA Government — Provides funding support for brownfield remediation projects in the region.
  • EPA Partner — Collaborates with the EPA on cleaning up and revitalizing brownfield sites in Oneida County.
  • Empire State Development Government — Works with ESD to access capital grant funding for economic development projects in the Mohawk Valley.
  • Environmental Protection Agency Government — Federal agency providing grants that Mohawk Valley EDGE manages for brownfield assessment and remediation.
  • Griffiss Institute Partner — Connects entrepreneurs with this certified business incubator for guidance and support in developing business ideas.
  • MVHS Partner — Partnering to develop a reuse strategy for the St. Luke's Campus in New Hartford.
  • Mohawk Valley EDGE Partner — Collaborates on a coordinated economic development program to advance the Mohawk Valley economy
  • New York State Homes and Community Renewal Government — Administers grant programs funded by NYS HCR through partnership with Oneida County.
  • Oneida County Partner — Collaborating on the development of a reuse strategy for the St. Luke's Campus in New Hartford.
  • Oneida County Partner — Partner in administering loan and grant programs for regional economic development.
  • Oneida County Partner — Partnership to administer NYS Office of Community Renewal grant programs including Economic Development, Small Business Assistance, and Microenterprise grants.
  • SUNY Polytechnic Institute Partner — Co-hosts the Steven J. DiMeo Speaker Series and collaborates on regional representation at events such as SEMICON West.
  • Small Business Development Center at MVCC Partner — Refers clients to SBDC for professional assistance in writing business plans.
  • USDA Rural Development Government — Administers Rural Business Development Grant program funding in the Mohawk Valley since 2017.
  • USDA Rural Development Government — Collaborates with EDGE to help businesses secure funding and support rural economic growth.
  • thINCubator Partner — Refers entrepreneurs to this New York State Certified Business Incubator for mentoring and network-building support.
strategies · 4

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Blended Financial Incentives and Revolving Investment Model
    methodology: blended_incentives_approach
    By combining loans, grants, tax credits, and revolving loan funds, we produce sustainable business and community investment because flexible, tailored financing reduces barriers to entry and expansion while recycling capital to maximize long-term regional impact.
  • Brownfield Adaptive Reuse as Engine for Regeneration
    methodology: adaptive_reuse_urban_regeneration
    By redeveloping contaminated urban sites through adaptive reuse, we produce inclusive economic growth and environmental justice because transforming blighted properties in population centers revitalizes communities, creates jobs, and unlocks underutilized infrastructure near workforces.
  • Public-Private Collaboration for Regional Economic Development
    methodology: public-private_collaboration
    By aligning public agencies and private sector leaders around shared regional goals, we produce sustained economic growth because coordinated partnerships enable strategic resource alignment, attract diverse industries, and strengthen local enterprises more effectively than isolated efforts.
  • Regional Strength-Based Economic Ecosystem Development
    methodology: regional_strength_based_development
    By leveraging existing regional assets and industrial strengths, we produce business growth, retention, and investment because targeting and enhancing competitive advantages makes the region more globally attractive and resilient to economic shifts.