The Hudson Valley Economic Development Corp. on Thursday will host a beer, wine and spirits summit at the Culinary Institute of America in Hyde Park . Business leaders and state government officials will discuss the policies and trends that affect the long-term growth of the beverage industry in the region.
“The idea is to get these companies in a room and listen to the challenges they are facing in terms of growing their business,” said Laurence Gottlieb, president and CEO of HVEDC. “That”™s why we brought in representatives from New York state because we really want to give a voice to these companies through a direct dialogue with representatives from New York state that are genuinely trying to grow this industry for the betterment of the New York state economy.”
The day includes seminars with Judelson, Giordano & Siegel managing partner Frank Giordano about trends in the beverage industry; Hudson River Ventures L.L.C. founder Sean Eldridge about access to capital; state Deputy Secretary for Agriculture and Markets Patrick Hooker about the Taste NY Initiative; Culinary Institute professor John Fischer about creative ways to make beverages, state Liquor Authority Chairman Dennis Rosen about beverage-related regulatory updates; Empire State Development agency representative Sam Filler about how to start a winery and the Culinary Institute’s Steven Kolpan on wine industry updates.
Gottlieb said he expects 175 companies from around the state to attend, including seven from Westchester, two of which are Yonkers Brewing Co. and Peekskill Brewery. In one of the seminars, Eldridge, an investor in Hudson Valley businesses, will discuss how small businesses can handle cash flow and provide insight into what investors look for in a food and beverage business.
“Sean will go into some detail and give an overview of the types of investments he makes, why he makes those investments, and what he looks for and expects from companies that he”™s considering investing in,” Gottlieb said. “Many of these folks, if they’re making wine and are artisans in crafting beer, may not have a finance background. A lot of it is about having a business plan and projecting how you”™ll return those dollars to the investor.”
The Hudson Valley Development Corp. launched the Hudson Valley Food and Beverage Alliance at the Culinary Institute of America two years ago. Over time, the state partnered with the alliance through its Taste NY program to host more summits related to the beverage industry.
