Assemblywoman
Addie J. Russell (D-Theresa) announced that over $2 million in funding for
local economic development projects has been approved by the Empire State
Development (ESD) Board of Directors. The projects, which are geared towards
two of the North Country’s largest industries, agriculture and tourism, will
spur economic development and are estimated to help create or retain at least
100 jobs.[1]
A grant of up to $1,000,000 establishing
a new regional revolving loan fund to develop agribusiness facilities in the
North Country Region—the Value Added Agricultural Loan Fund – has been awarded
to help farmers and other food industry producers develop new products and increase
production efficiency.
“I’m very pleased to see that this
proposal will be funded and will provide North Country farmers and
entrepreneurs with new opportunities to expand their businesses and add to
their bottom lines,” Assemblywoman Russell said. “This funding will help our
farmers and businesses develop value-added products that can bring more dollars
to our communities.”
Value added products are products
that have undergone change in the physical state or form (such as milling wheat
into flour or making strawberries into jam), or are produced in a manner that enhances their value,
such as organic produce. The customer base for these value added products is larger
and typically a greater portion of sales stays with the producer.
Additionally, a grant of $1,806,750
has been awarded to the Ogdensburg Bridge and Port Authority as part of their
Market NY Joint Marketing Initiative. The project seeks to leverage and expand
the region’s existing tourism industry by engaging in a multi-county effort to
draw Canadian visitors across the border to enjoy the North Country’s
year-round recreational opportunities.
“The remarkable natural beauty and the
abundance of recreational opportunities in the North Country are assets unique
to our area and will help drive job
creation,” Assemblywoman Russell said. “Attracting more international visitors
will inject new, outside revenues into our local businesses and municipal
governments.”
In December of 2013, the North
Country Regional Economic Council, of which Assemblywoman Russell is a member,
was named a top performer for the third year in a row securing $81.3 million in
development grant money.
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