ORANGE COUNTY BUSINESS ACCELERATOR OPENS ITS DOORS, UNVEILS NEW LOGO

New Windsor, N.Y. – October 28, 2009 – Orange County Business Accelerator (OCBA) officially opened its doors this week and unveiled the new eye-catching company logo during a ribbon cutting ceremony at its headquarters at Stewart International Airport.

“To the nearly 200 businessmen and women and public officials here today, you are now standing at the intersection of capital and talent,” said Michael J. DiTullo, managing director of OCBA. “Capital will go where it is wanted and stay where it is treated well. The Accelerator is where your business can create wealth, opportunity and real jobs real close to home.”

Orange County business and municipal leaders open OCBA in traditional business fashion.

The Accelerator features 10,000 square feet of office, R & D and flex space for entrepreneurs to help launch new and existing businesses to new levels of success. State-of-the-art high speed internet, a 14-person conference room equipped with an integrated audio/video system and a dynamic reception area highlight the Accelerator’s competitive advantage.

The Accelerator’s logo, created by its public relations agency Focus Media, incorporates the county color, a crafty font and a colorful design of objects in motion. The logo represents a metaphor connecting jets flying in and out of Stewart International Airport and the Accelerator’s client businesses. It expresses the notion that while a business grows and expands beyond Orange County’s borders, the benefits are still returned to the local economy.

Orange County Executive Edward Diana said, “Orange County needs job creation and new business growth. That has to be top priority in moving forward and the Accelerator will help achieve those goals and broaden the scope of commerce here. Orange County is officially open for business.”

James R. Petro, Jr., Chairman of Orange County IDA, added “This is Orange County’s internal stimulus package. What the Orange County Business Accelerator is offering is state-of-the-art office space, a great catalyst for jumpstarting businesses in Orange County. With the help of one of the Hudson Valley’s greatest thinkers, Michael DiTullo, and its new Client Services Specialist Kelly Reilly, the Accelerator is sure to be a success.”

George Green, Supervisor of Town of New Windsor, stated: “This is a great day for New Windsor and Orange County. When County Executive Edward Diana came to me with this idea, I instantly thought Stewart International Airport would make a great location for a business development center. Here we are, in this state-of-the-art office space, ready to facilitate business growth and job creation. The grand opening signifies the beginning in a long line of accomplishments this center will achieve.”

Michael Oates, President of Hudson Valley Economic Development Corporation, stated: “The opening of programs like the Orange County Business Accelerator represent a new era in the Hudson Valley. It is one where businesses have a place to turn to when it desires startup assistance or fast-paced growth in Orange County. It is a facilitator of entrepreneurship and serves as a model for the rest of the Hudson Valley.”

Orange County Business Accelerator, located at 4 London Avenue in New Windsor on the grounds of Stewart International Airport, is a business accelerator program launched by the Orange County Industrial Development Agency. The Accelerator, 10,000 square feet of Class A office, R& D and flex space, is designed to attract entrepreneurs by providing businesses with a menu of mentoring programs, high-tech plug-and-play office environment, below-market occupancy costs and access to venture capital including the IDA’s own fund.

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