Last week, Gov. Cuomo announced the creation of the North Country Economic Development Fund. This new fund will provide low-cost loans to businesses to support the expansion of their facilities as well a job creation and retention in the North Country. The $10 million fund results from a long-term power contract between the New York Power Authority and Alcoa.
Gov. Cuomo said:
“This fund will give local businesses access to the capital they need to invest in land, equipment and technology that will enable them to remain competitive in the 21st Century. Supporting these efforts will in turn will help strengthen the region’s economy and create jobs in the North Country.”