NY A06749

Authorizes the New York State Urban Development Corporation to provide assistance to small and medium-sized manufacturing or food processing businesses with fewer than 250 employees to 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 groups of potential customers sharing common characteristics receptive to a company's product or service.

Makes not-for-profit corporations, local development corporations, trade associations, educational institutions, and other economic development organizations eligible to apply for competitive funding to administer niche market assistance projects.

Requires applicants to demonstrate ability to provide services, potential for industry growth in their area, likelihood of self-sustaining services, participation of local economic development organizations, and program budgets with matching funds.

Limits individual grants for niche market assistance projects to a maximum of $200,000 and permits funded projects to include research, market analysis, marketing assistance, and identification of financial assistance sources.