The Ulster County Development Corporation (UCDC) announced on October 16, 2003 a $70,000 loan to PrecisionCare Software, Inc. The loan was made from the Ulster County Development Corporation’s Telecommunications Fund and will assist PrecisionCare – a New Paltz based developer of a web-based database application for tracking medical case records and billing – in its efforts to offer their database software programs to community-based human service and treatment agencies that require efficient and accurate record keeping.
The loan is part of an overall $250,000 expansion investment being made by PrecisionCare. This expansion will create two additional full-time jobs and one part-time job for a total of six full-time equivalent employees.
“The Ulster County Development Corporation is proud to assist the expansion of PrecisionCare Software and its delivery of advanced software technologies to the human service industry. The goal of the Telecommunications Fund is to assist businesses in the forefront of information technology to enhance their telecommunications infrastructure capability. With this low interest loan, the company’s development team can begin to respond to the tremendous demands for affordable database solutions for corporate and government compliance, statistical reporting, and Medicaid and private insurance providers,” stated Chester J. Straub, Jr., President of the Ulster County Development Corporation. Straub added, “We are proud of John Sheehan and his team because they represent the true entrepreneurial spirit of Ulster County, which continues to add strength and appeal to our community.”
“PrecisionCare Software began in response to a need to computerize case records of a local mental healthcare agency. From that request and an initial prototype, PrecisionCare has responded to the vast requirement for high quality, easy to use, cost effective database solutions for health and human service agencies. There are an estimated 300,000 agencies nationwide with a $100 million market potential where our product can fulfill a critical need. Our thanks goes out to Ulster County and the Ulster County Development Corporation for their recognition of this potential and their cooperation to assist us with this next level of software technology development,” said John Sheehan, President of PrecisionCare.
The Ulster County Development Corporation Telecommunications Fund is a component of the Development 21 Initiative, a collaborative effort of the Ulster County Development Corporation, the Ulster County Industrial Development Agency, and the Ulster County Legislature. The goal of the initiative is to assist in expanding and enhancing Ulster County’s infrastructure to better support 21st Century commerce. The Telecommunications Fund provides low interest loans up to $100,000 or 25% of the project cost for the enhancement of the telecommunications infrastructure of businesses, facilities and properties and to maximize high-speed Internet access.
UCDC is a private, non-profit organization that acts as a catalyst for creating wealth, improving the quality of life and fostering economic opportunity for Ulster County and its citizens. Every year UCDC helps hundreds of companies with start-up, relocation, or expansion by providing access to a range of services from site selection, financing incentives and benefits, revolving loan fund programs, workforce programs, and business support resources.
Additional information on how UCDC programs are working with Ulster County’s communities and businesses can be accessed via www.ulsterny.com. UCDC may also be contacted at 845-338-8840 or develop@ulsterny.com.
