Overview

The Urban Manufacturing Accelerator Fund is a new initiative to strengthen the capacity of nonprofit developers to close projects with New York City Economic Development Corporation’s (EDC) Nonprofit Industrial Developer Fund - a key element of the City’s strategy to create living-wage urban manufacturing jobs.

The Project

ANHD and Citi Community Development partnered in 2017 to create and launch the Urban Manufacturing Accelerator Fund. The Fund is part of a multifaceted initiative to provide strategic support and guidance to mission-driven developers who can help the City preserve and enhance its manufacturing sector, while also creating high quality, career track jobs with low barriers to entry that allow families to stay and flourish in the city.

Through the Fund, we are providing mission-driven developers with capital to close projects with EDC and utilize the $150 million Industrial Developer Fund. Specifically, funding supports developers with pre-development expenses related to closing on IDF financing, such as retaining the services of specialized industrial development consultants, as well as construction costs, environmental costs, land use attorneys, or contingency-based deposits to provide proof of site control.

In addition to capital, ANHD is also providing technical assistance support for these groups, helping developers enter this field (many have primarily developed affordable housing primarily), and to navigate the NYCEDC Industrial Developer Fund process.

The combined capital and technical assistance approach ensures there is a pipeline of mission-driven industrial developers with shovel ready industrial projects to apply to the Industrial Developer Fund for.

To get more information on the Urban manufacturing Accelerator Fund, email Michael.Br@anhd.org.

Recents Blogs and Media

Blog
October 25, 2018
Innovative Strategy by NYC Economic Development Corporation to Protect Jobs in Fashion Manufacturing
Blog
January 17, 2018
UMAF
In New York City, economic development is a crucial equity challenge, an important policy challenge, and an essential community development challenge. To address growing inequality, we need to think about economic development in a bold and fearless way—one that supports economic opportunity for all communities, emphasizing the quality of the jobs created and the needs of New York City residents.

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