NY: Governor Cuomo Announces $4.2 Million in Community and Economic Development Grants to Create and Retain 695 Jobs
8 Nov, 2011
15 Awards Across the State Leverage $63.9 Million in Private Investment
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Governor Andrew M. Cuomo announced the approval of $4.2 million in Community Development Block Grant (CDBG) Economic Development awards to communities across the state to assist in attracting, retaining, and spurring job creation. The 15 awards will benefit businesses ranging from small microenterprises to larger industrial companies.
The federally-funded CDBG program provides financial assistance to eligible counties, cities, towns, and villages to help develop viable communities by providing decent affordable housing and expanding economic opportunities. The State's grants, awarded through the Housing Trust Fund Corporation, one of the agencies integrated into New York State Homes and Community Renewal (HCR) will leverage a return of nearly $64 million in private investment.
Governor Cuomo said, "With these successful joint ventures between government and private industry, we can attract more business and investment to our state, creating and retaining even more jobs. It's a model that works and will lead to a brighter economic future for communities across the state."
HCR Commissioner/CEO Darryl C. Towns said, "Under Governor Cuomo's leadership, we are working to create an economic development strategy that is more than simple economic stimulus. The economic benefits of these awards will spark business growth and will spur more national and international interest in keeping and bringing more business and industry to New York State."
The awards announced today were part of an application process begun in May at HCR. Future CDBG awards will be made through a performance-based, community driven approach under the aegis of the Regional Councils.
The awards include $585,000 in grants to region-centric Microenterprise Assistance Programs to localities in Sullivan, Albany and Niagara Counties. The funds will be used for both start-ups and existing businesses, with a minimum of 50% of the total allocation awarded to start-up enterprises. The Microenterprise Program provides grants between $5,000 and $35,000 to eligible microenterprises. Funds will be used for: the purchase of capital goods, including machinery, equipment, furniture, fixtures, and/or to provide working capital to support operations. Grant recipients are required to commit at least 10% equity to the project.
The awards approved by region include:
A $516,000 award to Town of Bethlehem to assist in the expansion of Owens Corning Insulating Systems, LLC., a world leader in building materials and glass fiber composite systems. NYS CDBG funds will be used for employee training and will create 93 new jobs, of which at least 51% will be made available to low-to-moderate income individuals.
A $300,000 award to Columbia County to assist in the start-up of Hudson Valley Creamery, LLC (HVC), which will produce and package artisanal cheeses that will be sold and distributed by Couturier North America. NYS CDBG funds will provide gap financing and help leverage over $800,000 in private investment while creating 25 full time jobs, of which at least 14 will benefit low- and moderate- income New Yorkers.
A $105,000 award to the City of Watervliet, to assist in the expansion of Wicked Smart, LLC. The funds will be for the purchase of equipment as well as working capital associated with the expansion. Wicked Smart is a company with a national imprint, as a full-service apparel customization provider, for the athletic market, from youth sports to organizations and clubs through the collegiate market. Wicked Smart's expansion is critical to their on-line sales presence that will give them a more national audience. The award will help leverage more than $220,000 in private investment and create seven new full-time jobs, of which at least 51% will be made available to low- to moderate-income individuals, and retain 10 jobs.
A $50,000 award to the City of Watervliet, to assist in the expansion L & M Family Properties, LLC doing business as McIntyre's Restaurant. McIntyre's Restaurant is a family business that serves as a cornerstone business of the Watervliet Main Street district. The CDBG grant will be used to renovate the frontage of the restaurant as well as an expansion that includes more kitchen space, a full salad bar, a larger dining area, and provide better handicap accessible facilities. Energy efficiency upgrades will be a key element of the project. The award will help leverage more than $75,000 in private investment and create two new full-time jobs, both of which will benefit low- to moderate-income individuals.
A $200,000 award to the City of Watervliet, in Albany County, to establish the Watervliet Microenterprise Grant Program. Beneficiaries will be required to complete the annual Business Planning Workshops conducted by the Center for Microenterprise Development, The Albany Center for Economic Success of the Community Loan Fund, and the School of Business of the College of Saint Rose. The program will assist seven micro-businesses in the City. The award will help leverage more than $16,000 in private investment and create 14 full-time equivalent jobs, eight of which will be made available to low- and moderate-income individuals
A $185,000 award to Sullivan County to establish the Sullivan County Microenterprise Assistance Program. Grantees/beneficiaries will also be required to complete the Entrepreneurial Assistance Program developed and delivered by the Sullivan County Chamber of Commerce. The award will help leverage more than $18,000 in private investment and create 15 full-time equivalent jobs, 10 of which will be made available to low- and moderate-income individuals.
A $165,000 award to the City of Port Jervis to assist in the expansion of Samaki, Inc., which prepares, packages, and ships for wholesale its specialty fish. NYS CDBG funds will be used for the purchase of machinery and equipment, as well as inventory associated with the expansion, and will help create 11 new jobs, of which at least 10 will be made available to low-to-moderate income individuals.
A $375,000 award to the Town of Willsboro, in Essex County to assist in the start-up of Champlain Valley Senior Community, LLC (CVSC), a senior assisted living facility located in the historic property of the old Willsboro High School. The school building will be rehabilitated into a 64-room assisted living facility which will provide supervision and assistance with activities of daily living, coordination of services by outside health care providers, and monitoring of resident activities to help to ensure their health, safety and well-being. The CDBG funds will provide gap financing and will help leverage over $7.1 million in private investment and create 30 full-time jobs, of which a minimum of 18 will benefit low- and moderate-income New Yorkers.
A $255,000 award to Jefferson County to assist in the start-up of Florelle Tissue Corporation, which will establish a paper manufacturing facility and produce paper towels, napkins, and tissues. NYS CDBG funds will assist in the acquisition of machinery and equipment, and help leverage over $2.3 million in private investment while creating 55 jobs, of which a minimum of 29 will benefit low- and moderate- income New Yorkers.
Central New York
A $466,000 award to the City of Oswego to assist the construction of St. Francis Common, a new 60 bed adult home and assisted living program on the St. Luke Health Services campus. NYS CDBG funds will provide gap financing and create 33 full time equivalent jobs, of which at least 17 will benefit low- and moderate- income New Yorkers.
A $750,000 award to Schoharie County to assist in the expansion of a natural theme park Howe Caverns, which annually draws 170,000 visitors to the region. Howe Caverns serves as a large economic driver in the region, spurring the influx of tourist dollars. The company has created a master plan for a multi-phase expansion that will see the addition of many other attractions, with the goal of boosting attendance to almost half a million visitors per year. Howe Caverns has added a gemstone mining building, a zip-line course and a new picnic pavilion. Phase II will include the building of an RV Park and the construction of Dinosaur Canyon Preview Center, with a corresponding private investment of $1.5 million. The company will apply the CDBG funding to assist with upgrades to infrastructure and site work and purchase equipment for the Dinosaur Canyon. The funding will lay the groundwork for Phase III and an additional projection for over $20 million additional private investment. The award will create 50 new full-time jobs, of which at least 38 will be made available to low-to-moderate income individuals.
A $150,000 award to Schoharie County to assist in the expansion of AMT, Inc. which manufactures quality ferrous and non-ferrous metal and metal alloy precision investment castings. NYS CDBG funds will assist in the purchase of machinery and equipment. The project will result in the creation of 10 full-time positions within two years, of which a minimum of six positions will benefit persons from low- and moderate- income families.
A $110,000 award to Wyoming County to assist in the expansion of Upstate Door, Inc. for the purchase of machinery and equipment. Upstate Door is a manufacturer of an extensive line of interior, exterior, and screen/storm style doors. The company experienced a downturn with the housing crisis, but has seen an uptick in orders in 2010, which is a key indicator that suggests strong growth in 2011. Upstate Door is seeking to acquire a door manufacturing company located in Kansas that is closing after 60 years. Upstate Door would move those assets and equipment to a facility in Castile, allowing them to penetrate more markets with more product lines. The project has also received an $82,000 grant from ESDC. The expansion would create eight new jobs over two years and up to 20 new jobs over three years, and will retain 45 jobs. These new jobs are critical to the local economy because they are created outside the agricultural industry which is the primary dynamic in Wyoming County.
A $375,000 award to the Village of Groton in Tompkins County to assist in the expansion of Finger Lakes Fresh, a division of Challenge Industries. Finger Lakes Fresh grows produce that is shipped year round throughout the Northeast, offers employment opportunities, and generates funds to help support the work of Challenge. NYS CDBG funds will provide gap financing and help leverage over $1 million in private investment while creating 14 full time equivalent jobs, of which at least nine will benefit low- and moderate- income New Yorkers. The project will also retain 16 full time equivalent jobs, of which nine are filled by low- and moderate income New Yorkers.
Western New York
A $200,000 award to establish the City of Lockport's Lockport Downtown Microenterprise Program, which will revitalize the city by assisting 17 microenterprises—both existing and start-ups—and create 25 full time jobs, 19 of which will be available to low- and moderate- income individuals. NYS CDBG funds will be used to purchase equipment, inventory, furnishings and fixtures, provide working capital, and cover employee training expenses.
New York State Homes and Community Renewal (HCR) consists of all the State's major housing and community renewal agencies, including, the Affordable Housing Corporation, the Division of Housing and Community Renewal, Housing Finance Agency, State of New York Mortgage Agency, Housing Trust Fund Corporation and others.