OSWEGO, NY – The County of Oswego Industrial Development Agency presented its annual report to the Oswego County Legislature’s Economic Development and Planning Committee on Monday (February 23).
The report provides an account of COIDA’s activities in the 2013-2014 Fiscal Year, which ran from August 1, 2013 to July 31, 2014.
During this highly productive period, COIDA supported 30 projects that have or will be investing more than $264 million in Oswego County.
Furthermore, these projects are projected to create 672 new jobs and retain 372 existing positions in Oswego County over the next three years.
“While facilitating more than a quarter billion dollars of investment is impressive, we are most proud of the large number of jobs retained or created in Oswego County,” said L. Michael Treadwell Chief Executive Officer of the County of Oswego Industrial Development Agency. “More than 1,000 jobs will exist in Oswego County because of the IDA’s efforts over this one-year period.”
During the 2013-2014 Fiscal Year, COIDA provided assistance through five of its nine financial assistance programs.
The two programs which supported the greatest number of projects and jobs were the PILOT Economic Development Fund and the Straight Lease Transaction program.
The PILOT Economic Development Fund uses portions of PILOT income to provide loans to businesses that want to expand in, remain in or move to Oswego County.
This program has been in place since 1994 and has been highly successful.
During the Agency’s last fiscal year, the program supported 15 projects projected to create 385 jobs and retain 153 positions in Oswego County.
“Whether it is the 183 jobs to be created at K&N’s Food USA in Fulton or the three positions retained at the Fulton Animal Hospital, the PILOT Economic Development Fund program is a proven tool that creates jobs in Oswego County” said Treadwell.
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 also supported 15 projects projected to create 383 jobs and retain 289 positions in Oswego County.
Other forms of assistance provided in the 2013-2014 Fiscal Year included the Housing and Urban Development Economic Development Fund which supported two projects, the USDA Intermediary Relending Program Economic Development Fund which supported one project, and the COIDA General Economic Development Fund which supported two projects.
Business projects assisted were distributed throughout Oswego County, located in 11 towns and both cities.
Projects represented numerous industry sectors including manufacturing, transportation, warehousing, retail, services, commercial housing, research and development, healthcare, tourism/recreation and distribution.
Sixteen of the 30 projects were in manufacturing, representing 53% of all projects.
Detail on each is provided in the COIDA Annual Report which may be found at www.oswegocountyida.org