BY ED BARTHOLOMEW
One year ago, EDC Warren County
embarked on a new era of “Collaboration
For Growth,” a vital ingredient in both
achieving immediate positive results and
providing a road map for future success.
Teamwork and partnerships with regional,
state agencies, private business,
elected officials and citizens all brought
together now collectively form a solid
foundation upon which to make progress
and achieve results.
Looking to the future, the collaborative
approach will be even more important in
2015 and beyond. Building a portfolio of
successful projects, obtaining funding and
attracting investment is directly connected
to the ability to leverage broader regional
strengths and common needs as a means
to increase efficient use of resources.
In 2014, EDC was able to use resources,
programs and experience to make a difference
in the region including helping
businesses and organizations access a
variety of funding programs offered at the
local, region, state and federal levels. EDC
assisted Finch Paper in their application
via the 2014 Round Four NYS Consolidated
Funding Application (CFA). The company
was subsequently awarded $1 million in to
help offset $20 million in new plant and
equipment modernization expenses. It will
help keep the company competitive and
build new market opportunities.
EDC in 2014 assisted businesses access
“gap” financing for projects using two local
development corporation (LDC) loan
programs for expansion projects. A number
of these local companies were able to
leverage LDC loans to help add new business,
equipment and jobs.
They included:
Reliable Racing Supply Inc., Sutton’s, Martha’s,
Friends Lake Inn, Bullpen Tavern,
Achenbach’s, Superior Cantina restaurant
and more. All told, LDC financing of over
$900,000 assisted these projects, many
of which were leveraged with traditional
bank financing.
These funding programs either retained
or created a total of over 150 jobs. By
comparison, the prior year of 2013 saw no
new applications and no loans–a good
turnaround; but we can do more.
EDC sponsored and promoted a number
of special events in 2014 that attracted and
gathered top business executives to hear
business perspectives as well as the latest
news from industry, economic development
representatives, elected officials and
institutional leaders from the region. In
January 2014, nationally renowned economist
Hugh Johnson presented his financial
market predictions for the year at EDC’s
first annual Economic Outlook breakfast.
In May 2014, EDC brought together
noted companies and speakers from the
economic sector of forest products–including
paper, wood, and supporting industries
–to discuss their collective impact
at EDC’s annual luncheon.
This coming May 2015, EDC plans to feature
a luncheon program featuring two of
the largest major locally based healthcare
industry providers and employers: Glens
Falls Hospital and Hudson Headwaters
Health Network. It will look at their collective
and individual roles, changing environments and economic impacts.
Infrastructure preparation is vital to
both attracting new business and retaining
and expanding existing companies. It is a
cumbersome, complicated and expensive
topic that takes years of planning, analysis,
and, most of all, funding. EDC’s role
is to facilitate and coordinate efforts so
tax dollars are spent on the best ROI for
the region.
New jobs depend on our ability to make
the best use of our resources. Infrastructure
is not limited to roads, bridges and
other transportation assets. It also means
broadband, cell coverage, electric grid
upgrades and repairs, natural gas and the
less glamorous: sanitary sewer, municipal
water networks, facilities and capacity.
In 2014, EDC in conjunction with its
partner Adirondack Gateway Council,
led the way on a number of multi-county
efforts including HUD-funded feasibility
studies that will provide a road map for
regional solutions, funding and eventual
implementation for sewer, broadband, cell
and other critical services.
For 2015 we must continue our work
on infrastructure. A key project is to
obtain funding for an updated action for
improved vehicle and pedestrian access
along the Northway Exit 20-Route 9 corridor.
Perhaps the most important element
business needs to succeed–consistently
cited in annual site selection and business
management surveys–is a trained, available
workforce. In 2014, EDC engaged in
training to meet the needs of today and
tomorrow’s fastest growing industries. In
December 2014, with funding from the
Environmental Protection Agency, EDC
collaborated with the city of Glens Falls
and the state Department of Labor to initiate
a new brownfield environmental job
training program for candidates interested
in pursuing new careers in the field of
environmental remediation and detection.
The initial class graduated 28, with a
number already obtaining employment.
This program is scheduled to continue in
2015 and is a model for other potential advanced
manufacturing training programs.
Through continual outreach, EDC engaged
a number of companies seeking new
site and building opportunities to grow
their businesses.
In 2014, locally owned and operated
Sheet Labels.Com moved from a startup
location to a new 30,000-square-foot,
state-of-the-art facility on Pruyn’s Island
Industrial Park, with the assistance
of EDC. In October 2014, Hacker Boat
finalized a land purchase and is moving
ahead with plans to design and build a
90,000-square-foot manufacturing facility
in Queensbury Business Park.
In early 2014, EDC worked with west
coast-based JUST Water to assist in locating
a facility to package and distribute
water products using Glens Falls area
pure water. Water is a resource available
in excess capacity in our region and JUST’s
project will provide new jobs and revitalize
a landmark, but deteriorating, older
former church property in Glens Falls.
All told, the impact from these combined
three projects will retain 70 jobs
and add as many as 40-45 over the next
several years.
Looking forward to 2015, the Southern
Adirondack Region should continue to
enjoy continued positive momentum and
new investment that will result in new
good-paying jobs and economic strength.
With the support of our business leaders
and organizations like the Adirondack
Regional Chamber of Commerce, federal,
state, county and local officials, as well
as the business community, EDC Warren
County is ready for new opportunities to
collaborate for growth in 2015.