MASSENA -- As promised in the recent relicensing review agreement, the New York Power Authority has released a study that, if implemented, could create up to 1,900 jobs, but ideas for how to finance the $300-$400 million strategy are lacking.

NYPA CEO Gil C. Quiniones unveiled an economic development report that, if implemented, could create as many as 1,900 new jobs and up to $190 million in new economic activity by 2020 in St. Lawrence County.

The study was a part of a relicensing review agreement with the Federal Energy Regulatory Commission (FERC) that was finalized in January of 2015. NYPA agreed to provide up to $5 million in funding for an economic development and strategic marketing study.

At the time some local leaders opposed spending $5 million on a study, stating that many studies of the area have been performed, but the problem is a lack of funding to implement their plans.

NYPA spokesman Steven Gosset said the McKinsey & Co. study cost about $4 million.

The costly report details a plan to “diversify” the county’s economy by focusing and investing in agriculture, advance manufacturing, small businesses and tourism to reverse decades of economic decline.

McKinsey estimated that if all of the plans outlined in the study were implemented, it could add between 1,025 and 1,900 direct jobs and increase gross domestic product by $105 million to $190 million by 2020 to $4.04 billion total.

While St. Lawrence County lags behind other rural counties and the state overall for indicators like employment, poverty rates and gross domestic product growth, the study says the county can reverse its fortunes by more broadly marketing its abundant resources such as low-cost power, land and water.

The study, like many others before it, also points out that the universities in the county and “natural beauty” can be leveraged to draw more residents and visitors.

A major obstacle to implementing the study is that the estimated cost of putting the “strategies” in action is $300-$400 million over five years.

Compounding that issue is that most of the funding is expected to come from private investment and “performance-based tax and other incentives, including Excelsior tax credits offered by ESD.” Some public funding is also contemplated along with contributions from philanthropic sources.

While acknowledging the implementation could be difficult, several local officials praised the study.

“We have a unique opportunity to shape our economic future,” said Massena Mayor Timmy J. Currier said in a prepared statement provided by NYPA. “We know this won’t be easy, however, by working regionally with our partners and attracting outside resources, we will build a stronger and brighter St. Lawrence County and North Country.”

Local colleges are also supportive of the plan.

“This is a plan for the entire county, not just isolated towns and villages,” said Zvi Szafran, president of SUNY Canton, who, like Currier, served on an advisory board that vetted the study. “In order for the strategies outlined in the blueprint to succeed, we must work together.”

Many of the strategies augment initiatives that have been identified by the North Country Regional Economic Development Council, whose mission is to lead the economic renaissance of small cities and rural communities in the State.

“The NCREDC has been working to become New York’s leading rural region by promoting opportunities in agriculture, manufacturing, small business, green energy and tourism,” said Clarkson University President and North Country Regional Economic Development Co-Chair Tony Collins. “The development plan will be a valuable resource as we continue to focus on promoting our existing resources to create a diverse and prosperous North Country economy. I appreciate NYPA’s support as we prepare to transform the study’s signature initiatives into new opportunities for our region.”

The study outlines strategies in four areas that include these core initiatives:

• Agriculture and Agri-Business: Create a cluster of large greenhouses, powered by clean energy, which could operate year-round because of favorable light, humidity and temperature conditions in the county. Several shovel-ready industrial sites have already been identified for greenhouse development.

• Advanced Materials Manufacturing: Leverage the existing manufacturing base and engineering expertise in processing advanced materials—such as metal and glass--to attract new firms through an aggressive marketing and business development campaign. The effort would also be enhanced by access to academic resources, such as the Center for Advanced Materials Processing at Clarkson University.

• Small Business Expansion: Establish an Entrepreneur Accelerator, to provide training, coaching, mentoring and other support services to high-potential entrepreneurs. The initiative is also viewed as a way of retaining small businesses in a county that has experienced a net loss of small business at a higher rate than neighboring counties.

• Community Revitalization and Tourism: Create a $10 million St. Lawrence County Revitalization Fund, which would provide grants and loans to improve downtown areas and business districts, many of which now have vacancy rates of 20 to 40 percent. The study also calls for more substantial efforts to attract visitors, especially for outdoor activities like fishing, boating and camping.

A summary of the study can be viewed at https://www.nypa.gov/STLCountyReport1221.pdf.

NYPA commissioned the study as part of the first 10-year review of the relicensing settlement agreement for its St. Lawrence-FDR hydroelectric power project in Massena.