State Island Economic Development

What State Island Economic Development does

The Staten Island Economic Development Corporation (SIEDC) is a private non-profit founded in 1993 and headquartered at 201 Edward Curry Avenue, Staten Island, NY, with a staff of 11-50. SIEDC's mission is to enhance Staten Island's economy by promoting public and private investment and encouraging responsible, sustainable development that broadens employment opportunities across the borough.

SIEDC operates three core service lines: (1) the Industrial Business Zone (IBZ) Program, under which it serves as New York City's designated provider of assistance to Staten Island's industrial businesses via NYC Small Business Services, delivering financing assistance, government navigation, incentives access, training, and real estate support; (2) Neighborhood Development, in which it manages the borough's largest portfolio of Business Improvement Districts and merchant associations (New Dorp Lane, West Shore, Richmond Avenue, Victory Boulevard, Richmond Road, North Hylan, Graniteville-Mariners Harbor, Rosebank); and (3) Workforce and Innovation initiatives, including the Next Wave Workforce Survey with the College of Staten Island and Wagner College, the Innovation Hub for AI/robotics/AR training, the Offshore Wind initiative, and the Downtown Revitalization Initiative. Since 2016, SIEDC reports facilitating over $17 million in loans and $30 million in financing assistance for local firms, resolving 100+ government agency issues, and securing 60+ city and state incentives.

Revenue derives from membership fees, donations (including the Build A Bridge Fund with 2:1 matching through the Staten Island Foundation's Diamond Matching Grant Program up to $75,000), and government/foundation support from entities such as NYC SBS. SIEDC's go-to-market is community-led and event-driven, anchored by an annual events calendar (Business Conference, Tech Summit, Health & Wellness Expo, Awards Gala, Chairman's Cup Golf Tournament, Sustainability Forum) and direct engagement with member businesses. Underlying technology is not a meaningful component of the offering; SIEDC distributes services through staff-led consulting, BID management, and partner-hosted facilities rather than a software platform.

Name

State Island Economic Development

Legal name

Staten Island Economic Development Corporation

Website

https://siedc.org

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

SIEDC is a Staten Island, NY non-profit (founded 1993) that serves as NYC's designated Industrial Business Zone provider and manages the borough's largest portfolio of Business Improvement Districts, supporting industrial firms, merchants, and workforce development across the borough.

Ownership category

akta.pro rank

Product category

Economic Development Services

NAICS

Civic and Social Organizations (813410)

SIC

Services-Membership Organizations (8600)

akta.pro primary industry

Economic Development & Business Licensing (Local) (BPAIACAN)

akta.pro secondary industries

Institutional Capacity Building & Training (Workforce/Systems Strengthening) (BPADAEAC), Digital Development & ICT4D / GovTech Technical Assistance (BPADAEAL)

Keywords

• Economic development services
• Business support programs
• Workforce development
• Small business assistance
• Community development

Headquarters

HQ city

Staten Island

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. Membership Fees: SIEDC generates revenue through membership fees from businesses and organizations in Staten Island. The organization offers various membership tiers and sponsorships.
2. Donations and Matching Grants: SIEDC collects donations through its Build A Bridge Fund, which is matched through the Staten Island Foundation's Diamond Matching Grant Program (up to $75,000 matching).
3. Government and Foundation Support: SIEDC receives funding support from New York City Small Business Services for the Industrial Business Zone Program and various government initiatives.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Staten Island Economic Development Corporation (SIEDC) is a non-profit economic development organization founded in 1993 that drives economic growth on Staten Island, NY. It delivers business support programs, workforce development initiatives, neighborhood revitalization efforts, and convenes the local business community through awards galas, summits, and expos.

Product overview

The Staten Island Economic Development Corporation (SIEDC) is an economic development organization, not a technology product company. It offers a portfolio of programs and services including the Industrial Business Zone (IBZ) Program for industrial business assistance, Neighborhood Development managing Business Improvement Districts across the borough, the Workforce Study initiative partnered with the College of Staten Island and Wagner College, the Build A Bridge Fund for small business emergency recovery, and the Innovation Hub providing AI/robotics training. SIEDC also hosts major annual events including the Annual Awards Gala, Chairman's Cup Golf Tournament, Elevate Tech Summit, Business Conference, Forum for a Sustainable Future, and Health & Wellness Expo. These services are designed to enhance Staten Island's economy through public and private investment promotion and responsible development.

Differentiator

Problem solved

Functional benefit

Products and services

• Industrial Business Zone Program
• Neighborhood Development Program
• Workforce Study
• Build A Bridge Fund
• Innovation Hub
• Annual Awards Gala
• Chairman's Cup
• Elevate Tech Summit
• Business Conference
• Forum for a Sustainable Future
• Health & Wellness Expo

Quantifiable outcome

• $17 million+ in loans secured for Staten Island firms since 2016
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core, major and supporting.

• College of Staten IslandcoreStrategic or Co-development Partner · 27 March 2026The College of Staten Island unveiled its new Innovation Hub on March 27, 2026, creating a high-tech space for students and community members to develop skills in AI, robotics, and augmented reality.
• National GridmajorStrategic or Co-development Partner · 9 February 2024National Grid presented the SIEDC Forum for a Sustainable Future, the borough's premier environmental forum featuring educational panels and presentations on clean air initiatives and battery storage.
• Pratt IndustriesmajorStrategic or Co-development Partner · 9 February 2024Pratt Industries presented the SIEDC Forum for a Sustainable Future alongside National Grid, focusing on sustainability topics for Staten Island.
• Wagner CollegesupportingImplementation/ SI/ Consulting Partner · 9 February 2024Wagner College hosted the SIEDC Forum for a Sustainable Future event in partnership.
• New York City Economic Development Corporation (NYCEDC)coreStrategic or Co-development Partner · 1 January 2012SIEDC was selected by NYCEDC in 2012 to assist in developing a new industrial business improvement district on the West Shore of Staten Island.
• College of Staten IslandcoreStrategic or Co-development PartnerSIEDC partnered with the College of Staten Island and Wagner College to launch Staten Island's Next Wave Workforce Survey to identify skills, training, and talent needs for local businesses.
• Wagner CollegecoreStrategic or Co-development PartnerSIEDC partnered with Wagner College and College of Staten Island for the workforce survey initiative to better understand employer needs and position Staten Island as a competitive leader.
• New York City Small Business ServicescoreStrategic or Co-development PartnerThrough the support of NYC Small Business Services, SIEDC serves as NYC's designated provider of assistance to industrial businesses on Staten Island.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Others

• Local Initiatives Support Corporation (LISC): National nonprofit CDFI that supports local economic development organizations and small business financing. Comparable to SIEDC's capital deployment and capacity-building role but operating at a national scale as a funder and intermediary.
• National Development Council: National nonprofit focused on economic development financing and training. Comparable in mission to SIEDC's small business financing and workforce development programs, but operating as an enabling intermediary rather than a place-based organization.

Direct peers

• Alliance for Downtown New York: Manages the Lower Manhattan BID and delivers business improvement district services alongside economic development programming. Closely comparable to SIEDC's West Shore BID and neighborhood development portfolio.
• Bronx Overall Economic Development Corporation (BOEDC): Borough-level economic development organization for the Bronx providing small business services, financing facilitation, and BID support. Structurally comparable to SIEDC in mission, funding sources, and program mix.
• Hudson Yards Hell's Kitchen Alliance: Manages a large NYC BID with private maintenance, security, sanitation, and public realm programming. Comparable to SIEDC's BID management role, especially the West Shore BID service mix.
• Brooklyn Chamber of Commerce: Borough-level economic development and business advocacy organization in Brooklyn. Operates with a similar mix of membership programs, events, government navigation, and BID support, making it one of the most direct structural peers to SIEDC.
• Manhattan Chamber of Commerce: Borough-level business membership and advocacy organization serving Manhattan. Comparable in its membership-driven model, signature events, and government liaison function, though operating in a denser and wealthier business market.
• Queens Economic Development Corporation (QEDC): Borough-wide economic development nonprofit serving Queens. Operates similar small-business assistance, immigrant entrepreneurship, and workforce programs, and competes for the same NYC SBS funding pool as SIEDC.

Broad incumbents

• NYC Economic Development Corporation (NYCEDC): Citywide economic development corporation and a direct partner/funder of SIEDC. NYCEDC operates across all five boroughs at a far larger scale and shares the mandate of business attraction, industrial retention, and capital deployment, making it the closest broader incumbent comparator.

Regional players

• Long Island City Partnership: Regional economic development and BID organization serving the Long Island City area of Queens. Comparable in mission and BID management activities but focused on a specific sub-market rather than a full borough.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/SIEDC
• Facebookfacebook.com/SIEDC
• LinkedInlinkedin.com/company/staten-island-economic-development-corp.-siedc

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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M&A

Investments

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

Frequently asked questions about State Island Economic Development