About

• Established in 1951 with significant growth since 1986
  
• Primary objective: Keep Ithaca a great place to live, by helping companies provide quality jobs, tax revenues, and strengthen the community's economic base.

• 300 acres (200 commercial, 100 residential)
  
• 24 buildings
  
• Over 1/2 million square feet of space (677,000 SF)
  
• Large concentration of wet labs and clean rooms

AMENITIES

• Free parking at your door, airport, child-care center, exercise facility, Marriott Courtyard, medical clinics, Post Office, Federal Express, Broadband internet, picnic area, trail system, beautiful waterway.

• More than 80 tenant companies with 1,600 jobs
  
• 62% of the companies are technology-based, many of which conduct research associated with or derived from Cornell.
  
• Representative firms:
  Advion -
  BinOptics -
  Claritas - national demographic research and marketing company
  CBORD - worlds largest supplier of food and nutrition software solutions, ID card programs and housing management systems.
  Kionix - development & manufacturing of micro-electro mechanical (MEMS) devices
  International Food Network - research and development of commercial food products
  US Geological Survey - water resource division

PROPERTY TAXES

• $7.7 million paid over last 10 years.
  
• $16 million will be paid over next 10 years, even with no further development.
  
• As a project, Park is among top 10 tax payers of Tompkins County.

JOBS

• About 1,600 employees
  
• About $57 million in annual payroll put into local economy

• Additional jobs for 2,838 people
  
• Additional $61 million in payroll
  
• Additional $45 million in retail sales Additional $2.2 million in property taxes
  (Figures from TCAD)

Construction activity (about $2 million/year)

Many young companies started in the Park but have moved elsewhere in Ithaca:

• Ithaca Peripherals - 100 jobs
  
• Transonic Systems - 80 jobs
  
• AC Technologies - 40 jobs

Park employees patronize local restaurants, theater, music, and other activities that keep Ithaca a great place to live:

• 55% of Park employees volunteer/contribute to charities, not-for-profits, or civic organizations
  
• 52% attend or otherwise support the arts
  
• Beautiful gateway to community
  
• Recreational use of ponds, paths, and grounds

COMMUNITY-WIDE IMPACT

Ithaca is a small community. Economic growth isn’t compartmentalized by municipal boundaries.

Tax revenues are shared:

• 67% goes to schools
  
• 19% goes to County
  
• Village of Lansing only keeps 6%

Park employees support downtown:

• 74% shop downtown
  
• 85% go out to dinner downtown
  
• 87% use downtown services (dry cleaning, auto repair, etc.)
  
• 66% go downtown for entertainment (theater, movies, music)

CONTACT

• Tom LiVigne, Interim Director, Cornell University Real Estate
  15 Thornwood Drive, Ithaca, NY 14850
  Telephone 607.227.5098, Facsimile 607.266.7876
  Email: tpl6@cornell.edu
  Web: www.cornellbtp.com