St. Lawrence County IDA provided financial assistance to many area businesses in 2013
Editor’s note: This article originally appeared in the “Progress 2014” section of North Country This Week.
In 2013, the St. Lawrence County Industrial Development Agency and affiliated agencies and development partners provided assistance to a number of employers, communities and stakeholders throughout the county. In addition, extensive marketing was continued with the goal of encouraging investment, creating jobs and increasing the local tax base.The IDA authorized financial assistance for High Peaks Winery in the form of a sales and use tax exemption, mortgage recording tax exemption, and Payment in Lieu of Tax agreement. Low-interest loan financing was approved by the IDA Local Development Corporation from the River Valley Redevelopment Agency and Greater Massena Economic Development Fund to High Peaks for the construction of a two story facility to house a wine production operation.
The IDA finalized a grant incentive proposal from Empire State Development Corporation for repairs and improvements within the Massena Industrial Park. An additional $80,000 was allocated by the RVRDA and building improvements were completed to enhance the marketability of the sites to new or expanding businesses.
Fockler Industries expanded into the Massena Industrial Park by leasing approximately 9,000 square feet of space from the IDALDC. The IDA provided assistance by aiding with the acquisition of a robotic welder, which is key to their growth.
A lease/purchase agreement between the IDA and OpTech Environmental Services was executed for building on Lot 20 within the Massena Industrial Park.
Marimac US successfully completed terms of their lease and PILOT agreement with the IDA for their building within the Massena Industrial Park. The IDA has transferred ownership of the property to the company and the property is now completely on the local tax roll.
The IDALDC approved the allocation of $250,000 in loan funds from the RVRDA to Purine Pharma for their project in Massena. Part of a $1.798 million project, it is expected to retain two and create 15 full-time jobs.
AJ Missert received approval from the state Liquor Authority to execute PILOT documents for warehouse expansion project in Ogdensburg.
Acco Brands received authorization for sales and use tax exemption to modernize their distribution facility in Ogdensburg. The project is expected to create 30 jobs.
Hoosier Magnetics was given a sales and use tax exemption to construct a new maintenance and employee facility in Ogdensburg, and a PILOT agreement for the improved property.
Potsdam Hotel Associates received a sales and use tax exemption and mortgage recording tax exemption for their Potsdam Hampton Inn project. The project is expected to create 12 full-time and 4 part-time jobs, and generate $215,000 in annual property taxes and $200,000 in annual sales tax revenue.
The IDALDC approved low-interest loan financing from the RVRDA and the GMEDF totaling $103,000 to First Class Aire for its expansion in Potsdam. The project is expected to create four jobs.
The IDALDC, North Country Alliance and Adirondack Economic Development Corporation provided $90,000 in additional loan financing to St. Lawrence Brewing Company above funds approved in 2012 for the startup brewing operation in Canton.
The IDA continued to work with Kinney Drugs. on installation of fire suppression upgrades and improvements to their facility in Gouverneur.
The IDA Civic Development Corporation authorized financing to the St. Lawrence County Fire Training Facility for $90,000 plus any unpaid capital and interest on $290,000 bridge financing.
The IDA was awarded funds through the USDA’s Rural Business Enterprise Grant Program to assist North Country Grown Cooperative with the acquisition of cooling and refrigeration equipment.
In 2013, the first building within the Canton Industrial Park was named the “Ernest J. LaBaff Industrial Building” with a formal dedication to be held in the spring of 2014. The IDA continues to develop the Park and is working with Empire State Development to finalize the parameters of the $470,000 grant that was awarded for infrastructure needs.
Modifications were made to the Newton Falls Railroad Rehabilitation project for which an ESD grant of $9,972,000 was previously awarded. The work will now be completed in two phases.
The IDA’s partnership with the RVRDA also benefited a number of county-based initiatives. Projects receiving awards in 2013 included: City of Ogdensburg lighting project; county Chamber of Commerce FishCap initiative; county Fire Training Facility; county highway department trails project kiosks, gates, manuals and safety brochures; St. Lawrence Power & Equipment Museum sewer system; St. Lawrence River Walleye Association site improvements and youth program development; Louisville Community Room renovations; Madrid dam abutment demolition and refurbishment; Massena Town Hall façade and front steps repair and restoration; Waddington Town Hall accessibility and adaptive reuse; and the Waddington 2013 Bassmaster Elite Series St. Lawrence River Showdown.
The IDA was an active participant and supporter of the St. Lawrence Psychiatric Center Task Force.
For more information contact the St. Lawrence County Industrial Development Agency at 379-9806 or visit www.slcida.com.