Plan Provides Roadmap to Create Cluster of Clean Energy Greenhouses, Leverage Capital to Attract Advance Manufacturing and Create Revitalization Fund to Spur County Tourism
MASSENA – February 5, 2016 – (RealEstateRama) — New York Power Authority President and CEO Gil C. Quiniones today unveiled an economic development report that could create as many as 1,900 new jobs and up to $190 million in new economic activity by 2020 in St. Lawrence County. The report details an aggressive plan to diversify the county economy by focusing and investing in agriculture, advance manufacturing, small businesses and tourism to reverse decades of economic decline.
The study outlines strategies in four areas that include these core initiatives:
Agriculture and Agri-Business: Create a cluster of large greenhouses, powered by clean energy, which could operate year-round because of favorable light, humidity and temperature conditions in the county. Several shovel-ready industrial sites have already been identified for greenhouse development.
Advanced Materials Manufacturing: Leverage the existing manufacturing base and engineering expertise in processing advanced materials—such as metal and glass–to attract new firms through an aggressive marketing and business development campaign. The effort would also be enhanced by access to academic resources, such as the Center for Advanced Materials Processing at Clarkson University.
Small Business Expansion: Establish an Entrepreneur Accelerator, to provide training, coaching, mentoring and other support services to high-potential entrepreneurs. The initiative is also viewed as a way of retaining small businesses in a county that has experienced a net loss of small business at a higher rate than neighboring counties.
Community Revitalization and Tourism: Create a $10 million St. Lawrence County Revitalization Fund, which would provide grants and loans to improve downtown areas and business districts, many of which now have vacancy rates of 20 to 40 percent. The study also calls for more substantial efforts to attract visitors, especially for outdoor activities like fishing, boating and camping.
The plan is the result of a study done by McKinsey & Co., in consultation with more than 130 county officials, university presidents, economic development experts and business leaders. It was completed before Alcoa announced on Nov. 2 it would curtail most of its operations in Massena. A deal brokered by Governor Andrew M. Cuomo and Sen. Chuck Schumer three weeks later preserved 600 jobs at the facility.
“Now is the time when the conversation about changing St. Lawrence County’s economic fortunes should be turned into action,” said Gil C. Quiniones, NYPA president and CEO. “The study offers solutions that are as attainable as they are necessary.”
McKinsey estimated that if all of the plans outlined in the study were implemented, it could add between 1,025 and 1,900 direct jobs and increase gross domestic product by $105 million to $190 million by 2020 to $4.04 billion total.
A summary of the study can be viewed at https://www.nypa.gov/STLCountyReport1221.pdf.
NYPA commissioned the study as part of the first 10-year review of the relicensing settlement agreement for its St. Lawrence-FDR hydroelectric power project in Massena. NYPA is among the county’s largest employers, with nearly 220 workers.
While St. Lawrence County lags behind other rural counties and the State overall for indicators like employment, poverty rates and gross domestic product growth, the study notes the county can reverse its fortunes by more broadly marketing its abundant resources such as low-cost power, land and water. It can also leverage the respected universities in the county and natural beauty that could draw more residents and visitors.
“We have a unique opportunity to shape our economic future,” said Massena Mayor Timmy J. Currier, who has been a leading voice in calling for economic diversity in the region. “We know this won’t be easy, however, by working regionally with our partners and attracting outside resources, we will build a stronger and brighter St. Lawrence County and North Country.”
“This is a plan for the entire county, not just isolated towns and villages,” said Zvi Szafran, president of SUNY Canton, who, like Currier, served on an advisory board that vetted the study. “In order for the strategies outlined in the blueprint to succeed, we must work together.”
Many of the strategies augment initiatives that have been identified by the North Country Regional Economic Development Council, whose mission is to lead the economic renaissance of small cities and rural communities in the State.
“The NCREDC has been working to become New York’s leading rural region by promoting opportunities in agriculture, manufacturing, small business, green energy and tourism, said Clarkson University President and North Country Regional Economic Development Co-Chair Tony Collins said. “The development plan will be a valuable resource as we continue to focus on promoting our existing resources to create a diverse and prosperous North Country economy. I appreciate NYPA’s support as we prepare to transform the study’s signature initiatives into new opportunities for our region.”
“NYPA’s commitment to upstate New York is paying off,” said Empire State Development President, CEO and Commissioner Howard Zemsky. “By focusing on agribusiness, advanced materials manufacturing, tourism and small business expansion, state and local partners will transform the upstate community, create up to 1,900 new jobs, and show everyone that New York is open for business.”
The study estimates the portfolio of strategies would cost $300-$400 million to implement over five years, with most of that funding coming from private investment and performance-based tax and other incentives, including Excelsior tax credits offered by ESD. Some public funding is also contemplated along with contributions from philanthropic sources.
Still to be determined are how the blueprint would be implemented and who would lead the effort.
“Here in the North Country, job creation is our number one challenge, and it’s our responsibility to work to create better opportunities today for future generations,” said Senator Patty Ritchie. “I was pleased to work with the Governor and local leaders on efforts that resulted in this plan, as well as other steps to continue to grow the economy and create jobs in St. Lawrence County and across our region.”
“As the economic landscape continues to change in big ways for regions across the state, it is imperative that these communities always look for ways to adapt to these new outlooks,” said Senator Joseph Griffo. “That means collaborating across all sectors of business, education, tourism and government to develop creative strategies that help diversify a region’s economy, particularly in the North Country, so it is encouraging to see St. Lawrence County take advantage of this path for revitalization.”
“The work that went into this report brought together local officials, business people and leaders of academia from across the county, the regional approach that is necessary to revitalizing the local economy,” Assemblywoman Addie Russell said. “The report reiterates the potential for growth in several areas that local officials have previously identified as markets that fit well with the resources available in our region. I look forward to working with local officials and our partners in state government to find the funding sources that will be necessary to turn these ideas into real jobs that can help grow the North Country economy.”
About NYPA:
NYPA is the nation’s largest state public power organization, through the operation of its 16 generating facilities and more than 1,400 circuit-miles of transmission lines. NYPA uses no tax money or state credit. It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. More than 70 percent of the electricity NYPA produces is clean renewable hydropower. For more information visit http://www.nypa.gov/and follow us on Twitter @NYPAenergy, Facebook, Instagram, WordPress, and LinkedIn.
Contact:
Steven Gosset | steven.gosset (at) nypa (dot) gov | (914) 390-8192
