COIDA supported 23 projects that have or will be investing more than $111 million in Oswego County.
L. Michael Treadwell
Agency’s programs supported creation of 238 new jobs, retention of 1,068 existing positions
The County of Oswego Industrial Development Agency (COIDA) presented on Nov. 3 its annual report to the Oswego County Legislature’s economic development and planning committee.
The report provides an account of COIDA’s economic development activities during the 2019-2020 fiscal year, which ran from Aug. 1, 2019 to July 31, 2020.
During this productive period, COIDA supported 23 projects that have or will be investing more than $111 million in Oswego County. Furthermore, these projects are expected to create 238 new jobs and retain 1,068 existing positions in Oswego County over the next three to five years.
During the 2019-2020 fiscal year, COIDA provided or approved assistance through five of its nine financial assistance programs. The two programs which supported the greatest number of projects were the Straight Lease Transaction and the USDA Intermediary Relending Program Economic Development Fund, representing 78% and 9% of the projects respectively.
The Straight Lease Transaction provides financial assistance to companies via real property tax, sales and use tax and mortgage recording tax exemptions as authorized by NYS General Municipal Law. The program supported 18 projects projected to create 154 and retain 1,068 jobs in Oswego County.
Some examples of projects that were assisted through this program include Universal Properties in the town of Mexico, Northland Filter in the city of Oswego, 43 North Marina in the town of West Monroe, GSPP in the town of Hastings, Huhtamaki in the city of Fulton, Champlain Valley in the town of Oswego, DePaul Properties in the city of Oswego, ASA Volney NY Solar in the town of Volney and LeRoi, Inc. in the city of Oswego.
The USDA Intermediary Relending Program Economic Development Fund was capitalized from a loan from USDA and matching funds from the COIDA. It provides loans primarily for the purchase of machinery and equipment, as well as renovations. The program supported two projects expected to create 42 jobs in Oswego County. The projects that are being assisted through this program are HealthWay in the town of Richland and Brown Dog Wood Products in the town of Palermo.
Other forms of assistance administered by the COIDA during the 2018-2020 fiscal year included the Micro Enterprise Program Economic Development Fund, which supported two projects, the PILOT Economic Development Fund, which supported two projects, and the Housing and Urban Development Economic Development Fund, which supported one project.
Business projects assisted were distributed throughout Oswego County, located in 11 towns and both cities. Projects represented numerous industry sectors, including manufacturing, services, housing, tourism/recreation, warehousing, agribusiness, healthcare, energy and mixed-use.
Eight projects were energy related, six were manufacturing, one was agribusiness, one was tourism related and two were mixed-use and two were service businesses.
Seven of the 23 projects were in solar energy, representing 30% of all projects and 33% of total capital investment. Detail on each is provided in the COIDA annual report which may be found at www.oswegocountyida.org.
Members of the County of Oswego IDA Board, during the fiscal year, are Gary T. Toth (chairman), Nicholas M. Canale, Jr. (vice chairman), H. Leonard Schick (secretary/treasurer), Thomas Kells, Morris Sorbello, Tim Stahl, and Barry Trimble. L. Michael Treadwell serves as the chief executive officer and Kevin LaMontagne serves as the chief financial officer.
L. Michael Treadwell, CEcD, is executive director of Operation Oswego County based in Oswego. To contact him call 315-343-1545 or visit www.oswegocounty.org.