Combined $375,000 headed to WNY
Congressman Brian Higgins announced two Western New York entities will receive a combined $375,000 to support investment and economic opportunities in struggling communities. The U.S. Treasury awarded $225,000 to Launch NY, and $150,000 for the Seneca Nation of Indians Federal Credit Union.
Higgins said, “Financial programs can be difficult to navigate, leaving those with limited information and access to resources behind. This federal funding for Launch NY and the Seneca Nation will help people and businesses access capital and pursue opportunities, resulting in a stronger Western New York economy and community.”
Launch NY is an upstate New York venture development organization that supports and invests in high-growth, high-impact companies across 27 New York counties. Launch NY’s grant is allocated through Treasury’s Community Development Financial Institutions Fund, aimed at increasing economic opportunity and community development for underserved populations in distressed communities.
“As the most active seed fund in New York state, the demand is overwhelming from our entrepreneurs trying to and fuel our renaissance,” said Marnie LaVigne, Ph.D., president and CEO of Launch NY. “The CDFI Fund dollars especially help to ensure that we can support our underserved founders and neighborhoods so they are part of truly inclusive economic prosperity throughout the region.”
Funding for the Seneca Nation of Indians Federal Credit Union is awarded through the Native American CDFI Assistance Program.
The Seneca Nation was one of just 17 entities nationwide receiving technical assistance funding available to help Native communities generate opportunities and support jobs through access to financial resources.