NY A04550

Authorizes the New York State Urban Development Corporation to provide assistance to niche market assistance projects that help small and medium-sized manufacturing or food processing businesses with fewer than 250 employees identify and develop niche markets for their products

Defines "niche market" as a targeted market composed of individuals and businesses with similar interests and needs that can be readily identified and reached, or a group of potential customers with common characteristics receptive to a company's products or services

Eligible applicants include not-for-profit corporations, local development corporations, trade associations, educational institutions, technology development corporations operating manufacturing extension programs, and other not-for-profit economic development organizations

Applicants must demonstrate ability to provide services, potential for niche market development in their service area, possibility of self-sustaining services, participation of local and regional economic development organizations, and provide a program budget with matching funds

Individual grants for niche market assistance projects cannot exceed $200,000, with awards made on a competitive basis subject to available appropriations