X

$300,000 loan will help Waddington company create three new jobs

Posted 2/27/20

WADDINGTON – Structural Wood Corporation in Waddington will receive $300,000 from the St. Lawrence River Valley Redevelopment Agency. The loan will allow Structural Wood to renovate their existing …

This item is available in full to subscribers.

Please log in to continue

Log in

$300,000 loan will help Waddington company create three new jobs

Posted

WADDINGTON – Structural Wood Corporation in Waddington will receive $300,000 from the St. Lawrence River Valley Redevelopment Agency.

The loan will allow Structural Wood to renovate their existing facility and acquire adjacent land. St. Lawrence County Industrial Development Agency approved the grant on behalf of the RVRA Monday.

Interest on the 10-year loan will be set at one-half prime plus 1, according to the resolution.

The loan is expected to help the locally owned company create 3 fulltime jobs over the next three years and maintain 34 fulltime jobs.

The company is using it’s existing equipment and inventory as security for the loan.

Located in Waddington, Structural Wood Corporation builds, manufactures and delivers wood roof trusses, wall panels and flooring systems, according to their website.