Rail Trail Small Business Fund Launched

Franklin County Economic Development Corporation Launches Rail Trail Small Business Fund

Franklin County, NY – The Franklin County Economic Development Corporation (FCEDC) is thrilled to announce the launch of the Rail Trail Small Business Fund, aimed at fostering the growth and resilience of new and existing small businesses in Harrietstown and Tupper Lake. This fund is part of the Adirondack Frontier Small Business Program, which provides technical assistance, financing and funding to small businesses across Franklin County.

Two grants of $200,000 each, funded through NYS Community Development Block Grant, were awarded to the towns of Harrietstown and Tupper Lake and will be administered by FCEDC. The Rail Trail Small Business Fund was designed to boost economic development, job creation, and the overall experience for residents and visitors along the Adirondack Rail Trail. The fund will include specific eligibility requirements and criteria to identify and prioritize businesses that align with the goals of the fund.

There are 3 steps to applying. First, interested applicants must first complete a short eligibility form by visiting https://form.jotform.com/242263629665161. The eligibility form will be available beginning Wednesday, September 11th. The deadline to submit the eligibility form is Wednesday, October 9th at 5PM.

Once the project is deemed eligible, the owner will be invited to submit a full application. Before submitting the application the owner will be required to participate in an information session. FCEDC will announce awards in December.

Rail Trail Fund Highlights:

• Financial Support: Grants will range from $5,000 to $35,000.
• Flexible Use of Funds: Funding can be used for purchasing equipment, supplies, marketing initiatives, or other working capital needs. However, construction is not eligible.
• Eligibility Criteria: To be eligible, businesses must meet the minimum criteria below and demonstrate how they will leverage the Adirondack Rail Trail.

Applicants must meet the following minimum criteria:

• Have five or fewer employees, including owners.
• Create at least one full-time position for someone from a low-to-moderate income household. If no job is created, the owner must be from a low-to-moderate income household.
• Provide a minimum 10% cash equity contribution.
• Be principally engaged in one of the following business sectors: Arts, Entertainment, and Recreation; Accommodation and Food Services; Retail Trade.
• Be located in the towns of Harrietstown or Tupper Lake (including businesses within village limits of each town).

For further information or assistance, entrepreneurs are encouraged to contact:

Franklin County Economic Development Corporation
Rachel Child, Community Development Manager
Phone: 518-481-8211
Email: rachel@adirondackfrontier.com