Two Rochester companies are among those selected to participate in the Inner City Capital Connections program Wednesday and Thursday in New York City, officials announced this week.
Commercial printer Printing Methods Inc. and office supplier FM Office Express Inc. from Rochester were chosen for the program, which identifies inner city businesses in need of growth capital and matches them with private equity and debit providers.
The Rochester representatives and other participating companies have raised $335 million of growth capital, including $138 million in equity financing and $197 million in debt, officials said.
Companies involved in the ICCC program have grown revenue by 23 percent and have increased employment by 55 percent since participating, officials said.
The program provides web-based training workshops, a day-long educational session on equity and other forms of growth financing, and a one-day workshop that directly connects business leaders from participating companies with investors, officials said.
The program was started in 2005. Some 150 inner city companies and 150 equity providers have participated. To qualify, a business must be located in the inner city—defined as an area of economic distress—and have $2 million in revenues.
For details, go to www.icic.org.
(c) 2009 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
eMail
View All Comments
Print
Reprints
