$47,621 will purchase equipment for IDA to rent to Potsdam electric motor start-up
CANTON -- The federal government will give $47,621 to the St. Lawrence County Industrial Development Agency so they can buy equipment which they will in turn lease to LC Drives in Potsdam, which is expected to create 10 jobs.
That’s according to a Tuesday announcement from the U.S. Department of Agriculture.The total cost of the project is $242,735, with the remaining $195,114 being paid for by the IDA.
LC Drives is a startup in Potsdam. They make electric motors for buses and boats.
Shortly after the announcement, North Country Rep. Elise Stefanik released a statement praising the USDA for awarding the money.
“These Rural Development grants will help grow jobs right here in the North Country, and I applaud the USDA for making this a priority,” Stefanik’s emailed statement reads.
“These important grants will help support the infrastructure and agriculture needs of our district – two pivotal sectors to helping our economy grow. Economic growth and job creation for our district continues to be my top priority, and I will continue to push in Congress for policies that will help create good paying jobs for North Country families.”
For more about LC Drives, view earlier story.