//* Similar to Sridhar's code, but $creds section is easier for me to understand
//* Change the footer text
add_filter('genesis_footer_creds_text', 'sp_footer_creds_filter');
function sp_footer_creds_filter( $creds ) {
$creds = '[footer_copyright] · <a href="http://mydomain.com">My Custom Link</a> · Built on the <a href="http://www.studiopress.com/themes/genesis" title="Genesis Framework">Genesis Framework</a>';
return $creds;
}