PLATTSBURGH — When considering applications, the County of Clinton Industrial Development Agency Board of Directors makes sure that projects are viable and bring positive economic impact.
“Part of our mission statement is to enhance and improve the quality of life for the health and wellbeing of Clinton County residents,” IDA Executive Director Renee McFarlin said.
Over the years, the county, the IDA board and the North Country Chamber of Commerce have been very strategic about bringing good manufacturing jobs to the area, she continued.
The IDA and many others on the North Country manufacturing scene celebrated great successes this week, highlighted by Wednesday's Manufacturing Day.
“Manufacturing salaries, at least last I checked, exceeded your average employee wages in the county and we are a county that has actually seen an increase in manufacturing output and jobs.”
PROJECTS
McFarlin explained that the IDA’s role is to help facilitate investment through the use of tax incentives.
“We can assist by providing real property tax abatement, sales-tax exemption, mortgage recording tax exemption and we can also issue tax-exempt industrial revenue bonds.”
Over the last year, the IDA has closed on projects such as Vapor Stone Rail Systems’ new building, Monaghan Medical’s $10 million investment in its new facility and Schluter-Systems’ thin-set manufacturing facility.
The Vapor Stone project is projected to bring in about 100 new jobs, and retain more than 60, McFarlin said.
Monaghan Medical’s will also retain more than 60 jobs and add 10 over the next five years.
Additionally, Schluter-Systems promised six jobs with its new investment, which McFarlin believes they have already exceeded.
“I won’t know any of these numbers for certain until the end of the year because we generate our audit letters so that we can check and make sure everyone is complying.”
The IDA also receives state tax recording documents and conducts site visits to discern those numbers.
NEW APPLICATION
McFarlin said the IDA recently received an application from ERS Investors, the group that acquired the former Pfizer site in Rouses Point.
“I know that they are intending to seek tenants who manufacture, whether it’s light, industrial or full-scale manufacturing.”
McFarlin does receive inquiries from manufacturers interested in coming to or staying in the area.
“Until I have an IDA application for those, you never quite know,” she said.
FORMER AIRPORT
Last week, $1.5 million was allocated toward the redevelopment of the former Clinton County Airport through the U.S. Economic Development Administration's Public Works Program.
That funding, combined with $1 million pledged collectively by Clinton County, the Town of Plattsburgh and The Development Corporation as well as $500,000 from the Northern Border Regional Commission, provides $3 million toward a project that will equip undeveloped portions of the property with necessary infrastructure such as water, sewer and roadways.
McFarlin said companies and consultants have come in to scope out potential sites over the last year, but since infrastructure was not in place, cost-benefit analyses weighted the location out of favor.
“So with this investment, I believe that we will see much more development at a more rapid pace than maybe previously experienced, especially now that we have Monaghan and Norsk over there."
In press releases announcing the award, Congresswoman Elise Stefanik (R-Schuylerville) and U.S. Senate Minority Leader Charles Schumer said the investment is expected to bring in 150 new jobs.
Stefanik added that the funding is additionally anticipated to leverage $15 million in private investment.
U.S. Senator Kirsten Gillibrand had sent a letter of support urging the EDA to approve the funding in June.
Clinton County Legislature Chairman Harry McManus (D-Area 1) said the award speaks to the team effort by the county, town, The Development Corporation, the IDA and the region's federal representatives.
He decided to run to be chairman for one more year — his last in the legislature — specifically to see the EDA grant through.
"I've been a teacher here for almost 50 years. In my opinion, you can’t do more for young people in the North Country than give them a chance to go to college or go to tech school but have them be able to come back here with a good-paying job."
CRITERIA
All those seeking IDA benefits for their projects must fill out an extensive application, give a presentation and agree to comply with quarterly and annual auditing requirements.
The IDA has a matrix that the board uses to determine whether a project is a good fit.
That looks at such factors as the amount of the investment, the applicant’s willingness to work with local educational and training institutions, the number of jobs created and the project’s synergy or harmony with existing area enterprises, McFarlin explained.
That last part refers mostly to supply-chain.
“If there’s a part that Norsk uses, if we have someone who comes in from outside of the area and they want to supply that part to Norsk, they fit in well with the transportation cluster and they work with that company," McFarlin said.
CONTINUED GROWTH
The IDA’s tax incentives help to facilitate capital-intensive projects in particular, McFarlin said.
“So, Monaghan Medical is planning on spending $10 million on their building.
“They could not have remained in Clinton County or made that type of investment without the assistance of the IDA.”
McFarlin added that the IDA is a great tool for continued growth in cross-border trade and manufacturing.
“It’s something that Canadian companies don’t have the same access to on the other side of the border,” she said.
“So it really helps to draw them down into the United States and into Clinton County.”
Email Cara Chapman:
Twitter: @PPR_carachapman
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