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State economic development grants to be announced Thursday; Massena and Potsdam projects could get major funding

Posted 12/7/16

By CRAIG FREILICH Jeffords Steel and LC Drives in Potsdam and Hemo Medica in Massena are among the six St. Lawrence County funding applicants who will be listening closely Thursday as Gov. Andrew …

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State economic development grants to be announced Thursday; Massena and Potsdam projects could get major funding

Posted

By CRAIG FREILICH

Jeffords Steel and LC Drives in Potsdam and Hemo Medica in Massena are among the six St. Lawrence County funding applicants who will be listening closely Thursday as Gov. Andrew Cuomo announces the winners of economic development grant funding.

Jeffords wants to expand its manufacturing capacity with $300,000 in grants toward the $1.5 million total cost. LC Drives is hoping for $500,000 of the projected $2.5 million total cost in its next step toward production of its innovative electric motors, during which they hope to double or triple the 10 people working for them now. And Hemo Medica is asking for $1.6 million in aid for their $7.8 million project for anemia research.

A pharmaceutical company in Massena wants to do research leading to a cure for anemia.

Also, Canton hopes to extend water and sewer service, Clarkson University is again seeking to revitalize its downtown campus, the North Country Children’s Museum wants to buy a building as its home.

More than $25 million out of the total projects’ cost of $100 million has been requested from the state by the North Country Regional Economic Development Council (NCREDC) for 26 proposals from the seven counties covered by NCREDC.

About $10 million in state grants out of the total $50 million cost has been requested for the six priority St. Lawrence County projects.

Those projects include:

• Jeffords Steel seeks a $300,000 ESD Capital Grant to help them build an 8,000 square foot expansion at its Potsdam fabrication and manufacturing facility at 147 Maple St. The goal is more capacity and output, and more jobs – 30 jobs during construction, and 10 new jobs and retention of 24 workers at Jeffords.

• LC Drives has developed what it says is a revolutionary electric motor that is much smaller than conventional motors of the same power, and it wants to get ready to build capacity with new test and production equipment for the enterprise, now based in Clarkson’s downtown campus buildings. They are asking for $500,000 of an estimated $2.5 million cost for the equipment. Their aim is 10 new jobs in the next phase of development.

• Hemo Medica in Massena asks for a $1.6 million ESD Capital Grant that will go toward the $7.8 million cost of startup for a new pharmaceutical venture aimed at first developing and marketing a drug to cure anemia in canines and eventually adapting it for humans. The company plans to build a new building constructed to Good Manufacturing Practice standards for its production area and laboratory. Construction and indirect jobs are estimated at 15 workers, and 27 jobs are expected to be created.

• The Village of Canton is applying for a $236,000 ESD Capital Grant as part of the $1.2 million cost of expanding its water and sewer service to the Maple Street subdivision to insure continued operation of the new Community Bank NA administrative center and provide capacity for future commercial and residential development. Construction and indirect jobs on the project are estimated at 40.

• Clarkson University’s downtown Potsdam campus revitalization project and its Innovator Colony there seek $7.3 million toward the total estimated cost of $36.7 million to renovate Damon, Snell and Congdon halls for residential, business incubator and commercial space. Part of the overall plan is a partnership with the village to establish a whitewater park on the Raquette River for tourists and residents. Construction and indirect jobs are estimated at 50, and new jobs are estimated at 45.

• The North Country Children’s Museum is looking for a home of its own in Potsdam and is asking for a $127,000 ESD Capital Grant to help with the $635,000 cost to refurbish an unoccupied building in Potsdam’s historic downtown district, to establish a permanent cultural and educational center. The museum estimates the enterprise will create three jobs.

Those are this year’s projects designated by the NCREDC as “significant and regionally transformative in nature” with the potential to have “significant positive economic impact in the seven counties,” the council’s 2016 Progress Report says.

Comprising St. Lawrence, Clinton, Essex, Franklin, Hamilton, Jefferson and Lewis counties, NCREDC is one of the 10 regional councils across the state that serve as an organizing structure for economic development plans in the various regions.

The governor’s office has issued a press release indicating that the winners in the Round VI competition for awards will be announced Thursday afternoon.

In December 2015, the North Country council was awarded $85.1 million for 82 projects in Round V. It was awarded $63.4 million supporting 69 projects in 2014.

The council was named a “Top Performer” in 2013 and 2012, in addition to its plan being named a “Best Plan Awardee” in December 2011. Those honors were good for a bonus allotment of development cash.