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star_120Tompkins County Area Development recently approved a loan to Comet Action Sports. Loan proceeds will assist the company to expand its skateboard manufacturing operations. Comet plans to relocate its corporate offices and open a retail outlet on The Commons in downtown Ithaca.

TCAD has a long history of helping small manufacturers grow and create jobs. According to Heather Filiberto, TCAD’s Director of Economic Development Services, “Comet is a great addition to our loan portfolio. It’s a small company with a big vision and a mission that supports the green economy. We look forward to watching them grow in Ithaca.”

Comet Action Sports is a mission-driven, environmentally conscious skateboard manufacturer that relocated to Ithaca from Oakland, California in 2007. Comet’s manufacturing decisions are guided by the concept of ‘cradle-to-cradle,’ eliminating waste through "closed loop" manufacturing, and examining the entire life-cycle of all products and bi-products to ensure environmentally sustainable practices and materials are used in every step of the manufacturing process.

The primary objective of TCAD's Loan Program is to create quality employment opportunities and strengthen the tax base by helping entrepreneurs start new businesses, helping existing businesses expand, or attracting businesses to Tompkins County.
The loan to Comet was made from TCAD’s Countywide loan fund. The fund was made possible by Tompkins County with proceeds from the Federal Department of Housing and Urban Development.

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