A $70,000 federal grant will support a new Olean-area business accelerator aimed at helping skilled-trades companies grow, find workers and prepare for ownership transitions as veteran tradespeople retire.
The Appalachian Regional Commission awarded the funding to the Olean Business Development Corporation for the Olean Region Skilled Trades Accelerator Project, U.S. Rep. Nick Langworthy announced Wednesday. The $100,000 project includes $30,000 in matching funds from Olean Business Development.
The accelerator is expected to serve 10 locally owned businesses through a flexible, in-person program tailored to skilled-trades entrepreneurs. Organizers said the format is intended to account for the limited time many tradespeople have available for traditional business-development programs.
The program will be deployed in collaboration with Jamestown Community College's Workforce Development Team, according to Bob Forness, president and executive director of the Olean Business Development Corporation. It will focus on helping participants strengthen operations, build sustainable companies and plan for the next generation of ownership.
Regional officials say the effort responds to a shortage of skilled-trades workers at a time when many experienced business owners are approaching retirement. Supporting emerging companies and preparing new owners could help keep existing businesses operating instead of losing their services when an owner steps away.
The project specifically targets trades that provide essential services across the region, including plumbing, heating, ventilation and air conditioning, and electrical work. Organizers also see the accelerator as a way to preserve local jobs, create career opportunities and support long-term economic growth.
Langworthy said small businesses and skilled trades are central to Olean's economy and need resources to expand and remain viable. He said the investment is intended to help tradespeople build stronger companies, open paths for younger entrepreneurs and maintain access to essential services for families and businesses.
Forness said participating companies face two connected challenges: finding qualified workers and preparing to transfer ownership. He said the federal grant and the partnership with Jamestown Community College would help address both issues while supporting good-paying jobs and the region's long-term economic health.
The Appalachian Regional Commission is a partnership of the federal government and 13 state governments serving 423 counties. Its economic-development work includes building local capacity and supporting growth across the Appalachian region.
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