Franklin County IDA/LDC Administers $600,000 Energize Downtown Program

Franklin County IDA/LDC is a unifying economic development organization that fosters a shop-local, community-first culture. We help entrepreneurs start businesses and help established businesses grow. We take a proactive approach to attract visitors with the hope they’ll become locals.

It is that intersection of developing business, community, and destination that informs and inspires our work every day as Franklin County moves toward a bright and prosperous future.

WHAT WE’RE DOING RIGHT NOW:
Administering $600,000 Energize Downtown Program funded through the Saranac Lake Downtown Revitalization Initiative (DRI) to support building renovations and to provide commercial rent assistance in Downtown Saranac Lake.

The Energize Downtown Fund (the Fund) is providing matching grant funds for commercial and mixed-use properties within the DRI boundary. 10 projects were awarded funding for building renovations, 3 details matter projects were awarded funding, and 4 business received rent subsidy awards. All funds will leverage over $1.2 million in private investment in Downtown Saranac Lake over the next two years.

The anticipated revitalization benefits of the Energize Downtown fund include:

• Attraction and retention of small businesses and entrepreneurs;
• Increased number of residents, businesses, employees and visitors; and
• Growth of property and sales tax

The Franklin County Local Development Corporation (FCLDC) was established in 1989 to address funding needs of businesses. The FCLDC is staffed with Economic Developers who have extensive experience in administering loan funds and working with small businesses.

What else we have cooking right now:

• $20,000 New York Main Street Technical Assistance grant project in Downtown Malone to develop design guidelines and complete facade renderings.
• $100,000 Adirondack Park Community Smart Growth grant to renovate buildings on Park Street and Main Street in Tupper Lake.
• $400,000 in investment through loans and incentives to businesses and revitalization projects in downtowns across the county since 2017.
• $500,000 New York Main Street grant program to renovate commercial buildings in Downtown Saranac Lake and Park Street in Tupper Lake — 13 projects in total!
• Creation and development of The Carry, a entrepreneurial business center and co-working space in partnership with the Saranac Lake Area Chamber of Commerce and Point Positive located in Downtown Saranac Lake.
• Tourism Promotion Agency to improve Franklin County’s quality of life by strengthening the economic impacts of the tourism industry by promoting the communities of Malone, Saranac Lake, and Tupper Lake along with other communities in Franklin County.
• Member of Main Street America, the nationally recognized program focused exclusively on main street and downtown revitalization.
• Member of New York State Tourism Industry Association (NYSTIA), the organization bringing together New York State tourism industry interests.
• Member of International Economic Development Council (IEDC), the largest national and global organization serving economic developers.

We would love to hear from you! Feel free to call or email, we are here to listen and help.

Be well,
The Economic Development Team
Jeremy, Marcy, Russ, Maria, Phil, and Kelly