Orange County Business Accelerator Celebrates First Year of Entrepreneurial Success

NEW WINDSOR, N.Y.--(BUSINESS WIRE)--Orange County Business Accelerator is proud to announce that, in its first year, it has landed 14 clients and tenants, prompting the construction of additional office suites nine months ahead of schedule. These firms could bring between 350 and 500 high-tech, high-pay jobs to Orange County in the next five years.

“The Accelerator is sure flowing with entrepreneurial energy these days!”

“The Accelerator is sure flowing with entrepreneurial energy these days!” said Managing Director Michael DiTullo. “For one strong year now, the Accelerator has been fulfilling an unmet demand in Orange County and providing a budding service for entrepreneurs from around the Hudson Valley, the Northeast and beyond.”

The Accelerator, an incubator program launched by the Orange County Industrial Development Agency (IDA), is headquartered in a 10,000-square-foot facility strategically located near Stewart International Airport in New Windsor, N.Y. Its competitive advantage features access to a network of advisor and strategic partners, a state-of-the-art conference room with integrated A/V system and videoconferencing and a cooperative room where clients are able to work with each other to soar to new heights.

Recognizing the growing demand for the Accelerator’s expertise, construction on Phase II commenced in March 2010, far ahead of the 4th quarter time frame initially projected. Its office and innovation suites were filling so quickly, that Phase III build-out was also called upon just three months later.

The Accelerator offers an Associate Client Plan (all the benefits…no need to lease) and three speaker series that have brought more than 1,000 professionals to the Accelerator.

James R. Petro, Jr., Chairman of the Orange County IDA, said, “In 2009, the Orange County IDA saw immense opportunity in opening a business accelerator, and now a year later, our 10,000-square-foot space is nearing capacity. Together with Orange County Government, we’re making a great difference that will be recognized for decades to come.”

Orange County Executive Edward Diana added, “Orange County Business Accelerator has made great strides in assisting entrepreneurs with big ideas establish their presence in Orange County. Already, several of its first resident clients are nearing graduation from the Accelerator to more permanent – and local – facilities. Under the leadership of the Orange County IDA, the Accelerator has become a key player in staking Orange County’s claim as the most business-friendly county in New York State.”