Today, U.S. Senator Kirsten Gillibrand is announcing that $500,000 in federal funding for CenterState CEO was successfully passed in the final omnibus funding package for Fiscal Year (FY) 2022.
“I’m proud that I was able to secure $500,000 in this year’s funding package for CenterState CEO to support the development and initial capitalization of the Growth & Equity Fund,” said Senator Gillibrand. “I will remain vigilant in the Senate fighting for the resources that will promote economic development, create new jobs, and attract even more investments that will lay the groundwork for the future of Central New York.”
“CenterState CEO, with support from its board of directors, launched the Growth and Equity Fund to provide capital options to address a spectrum of market inefficiencies and inequities,” said Robert Simpson, President of CenterState CEO. “We are grateful to Senator Gillibrand for this investment in this fund, as it will drive needed support to innovators, entrepreneurs and business owners who have traditionally struggled to access the funding needed to achieve their venture goals.”
This funding will be used to support the development and initial capitalization of the Growth & Equity Fund. This Fund combines three complementary capital programs into a centrally managed Fund designed to ensure the success of and de-risk businesses and projects that fall outside the scope of traditional financing or where no market solution currently exists.