Rochester Economic Development Corporation (REDCO)

Name

Rochester Economic Development Corporation (REDCO)

Legal name

Rochester Economic Development Corporation

Website

https://redcoroc.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Economic Development Services

NAICS

Business, Professional, Labor, Political, and Similar Organizations (8139), Professional Organizations (81392)

SIC

Services-Management Services (8741)

akta.pro primary industry

Economic Development & Business Licensing (Local) (BPAIACAN)

akta.pro secondary industry

Industrial Development & Competitiveness Programs (BPADAMAF)

Keywords

• Economic development services
• Small business funding
• Business development programs
• Community development
• Minority business support

Headquarters

HQ city

Rochester

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Grant Funding: REDCO operates as a 501(c)(3) non-profit organization primarily funded through grants, including a $1M SBA Community Navigator Pilot Program grant and other government funding sources.
2. Donations: The organization accepts donations from the public to support economic development initiatives in Rochester.
3. Program Services Revenue: REDCO provides business development services including the REDCO Business Enhancement Program and Business Certification Program, which may generate service fees.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Rochester Economic Development Corporation (REDCO) is a 501(c)(3) non-profit that provides community-based economic development services to small and medium-sized businesses and entrepreneurs in Rochester, NY. Its core offerings include Start Your Business support, Grow Your Business expansion assistance, and Finance Your Business investment facilitation, delivered alongside the REDCO Business Enhancement Program, Business Certification Program, and COVID Relief Funding. The organization focuses on equitable neighborhood wealth creation, job growth, and economic inclusion, with particular emphasis on minority-owned businesses.

Product overview

Rochester Economic Development Corporation (REDCO) is a 501(c)(3) non-profit organization that operates as a single unified service platform rather than a modular product suite. The organization provides three core interconnected services: Start Your Business (launch support), Grow Your Business (expansion support), and Finance Your Business (investment facilitation). These core offerings are complemented by the REDCO Business Enhancement Program and Business Certification Program. The organization launched in February 2020 and focuses on community-based economic development that increases wealth in Rochester's neighborhoods, with a strong emphasis on serving minority businesses (42% of funded businesses are minority-owned, 75% of those served are minorities).

Differentiator

Problem solved

Functional benefit

Products and services

• Start Your Business Services Strategic economic development services that support entrepreneurs in launching new business operations in Rochester, NY, with a focus on equitable neighborhood wealth creation for new ventures.
• Grow Your Business Services Services dedicated to improving the economic viability of existing Rochester businesses by providing coaching, resources, and support for expansion and development initiatives.
• Finance Your Business Services Financial support services focused on helping companies access capital and financing to invest in and grow their operations in Rochester, including facilitating investments through programs such as the Revitalize Rochester Fund.
• REDCO Business Enhancement Program A program designed to support business improvement and growth of qualifying Rochester businesses through collaborative economic development efforts and access to REDCO's resource network.
• Business Certification Program A certification program that supports and recognizes Rochester businesses meeting certain economic development criteria, with particular emphasis on minority-owned and small businesses.
• COVID Relief Funding Emergency funding and relief resources provided to Rochester businesses impacted by the COVID-19 pandemic, with $50K in COVID relief funding donated by REDCO.

Quantifiable outcome

• $2.32M Total Amount Invested across approved projects
• +5 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered core and minor.

• FLX Finger Lakes ForwardcoreStrategic or Co-development PartnerEconomic development partner through New York Empire State Development, supporting regional growth initiatives in the Finger Lakes area including Rochester.
• Urban League of Rochester, N.Y., Inc.coreStrategic or Co-development PartnerCivil rights and economic empowerment organization focused on African Americans, providing workforce development and economic programs that align with REDCO's mission.
• IBERO American Action League, Inc.coreStrategic or Co-development PartnerCommunity organization serving the Latino community in Rochester, supporting economic inclusion efforts.
• Frederick Douglass Family InitiativesminorStrategic or Co-development PartnerOrganization focused on racial equity and economic empowerment, supporting REDCO's economic inclusion mission.
• MCC Economic & Workforce Development CentercoreStrategic or Co-development PartnerWorkforce development partner through Monroe Community College, providing training and workforce readiness programs for Rochester residents.
• Center for Urban EntrepreneurshipminorStrategic or Co-development PartnerPartner through Rochester Institute of Technology focused on urban entrepreneurship support and research.
• The Commissary Downtown RochesterminorStrategic or Co-development PartnerDowntown Rochester business incubator and co-working space supporting local entrepreneurs.
• New York Empire State DevelopmentcoreStrategic or Co-development PartnerNew York State's economic development agency providing funding and support for regional economic initiatives.
• City of RochestercoreStrategic or Co-development PartnerMunicipal government partner providing city-level support and alignment for economic development programs.
• CCCS of RochesterminorStrategic or Co-development PartnerCredit counseling services organization supporting financial literacy for businesses and individuals.
• Just CauseminorStrategic or Co-development PartnerOrganization providing legal support and advocacy for community economic justice.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Local Initiatives Support Corporation (LISC): National nonprofit CDFI that finances and supports local economic development, small businesses, and community development in underserved areas. Most directly comparable as a multi-city community economic development intermediary with a similar grant-and-partnership model.
• Enterprise Community Partners: National nonprofit focused on affordable housing and community/economic development, working with local partners to deploy capital and technical assistance to underserved communities. Operates the same local-partner-driven economic development model at greater scale.
• TruFund Financial Services: CDFI providing loans, equity, and advisory services to small businesses and nonprofits in underserved communities. Comparable mission, target segment (minority and underserved SMBs), and deployment of grant-funded capital into local business support.
• PathStone Corporation: Rochester/upstate New York-based nonprofit providing workforce development, small business support, and economic empowerment in rural and underserved communities. Strongly comparable mission, geography, and grant-funded operating model.
• Nonprofit Finance Fund: National CDFI and advisory organization providing capital, consulting, and capacity-building to nonprofits and social enterprises. Comparable in deploying philanthropic and government capital to strengthen local delivery organizations like REDCO.

Broad incumbents

• National Urban League: Historic civil rights and economic empowerment organization with local affiliates (including Urban League of Rochester) providing workforce development, small business support, and economic inclusion programming. REDCO is already a partner; competes for the same minority SMB funding pool.
• Empire State Development: New York State's primary economic development agency funding regional initiatives including those in Rochester. Functions partly as a partner and partly as a competing funder/intermediary for the same local economic development pipeline.

Regional players

• Greater Rochester Chamber of Commerce: Rochester-area chamber providing business advocacy, networking, and economic development services to local SMBs. Operates in the same geographic market with overlapping SMB support offerings, though with broader (non-equity-focused) positioning.
• Rochester Area Community Foundation: Rochester-based community foundation that deploys philanthropic capital and convenes local partners for economic and community development. Comparable in geography, equity focus, and use of grants/donations to support local initiatives.

Others

• CDFI Fund (U.S. Department of the Treasury): Federal funder of CDFIs and economic development organizations. Comparable not as a competitor but as the primary capital source ecosystem that REDCO depends on for grants, making its funding policies a direct driver of REDCO's economics.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/100067371144995
• LinkedInlinkedin.com/company/redco-rochester
• Instagraminstagram.com/redco_roc

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rochester Economic Development Corporation (REDCO)