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M C B D C A n n u a l R e p o r t

2013

Montgomery County

Industrial Development Agency

&

Montgomery County Department of

Economic Development, Planning and Tourism

Annual Report 2013

Montgomery County

Business Development Center

Montgomery County

Business Development Center


2013

Table of Contents

Page

About the MCBDC 3

MCIDA Year in Review 5

Financial History 16

Community Development Fund 17

Planning Division 18

County Public Transportation 22

Tourism Division 23

Projects and Successes 25

Partnerships 28

Board Members and Staff 32

Addendum

Economic Development Program Annual Report


2013

About the MCBDC

The Montgomery County Business Development Center “the Center” was created

and is funded by Montgomery County and Montgomery County Industrial Development

Agency. The Center houses the physical offices for and functionally integrates the work

of the Montgomery County Department of Economic Development, Planning and

Tourism and the Montgomery County Industrial Development Agency (MCIDA). The

Center serves as the primary economic development, planning and tourism promotion

entity for Montgomery County, New York.

The Center’s mission is to enhance local economic opportunity, while

simultaneously sustaining the first-rate quality of life that characterizes Montgomery

County -- a civic responsibility that is achieved through the retention and creation of

jobs, the leveraging of new capital investment and the implementation of smart planning

initiatives.

The Center serves an area that truly is an optimal location to do businesses. Thus,

the Center builds upon this extraordinary geographic reality, ambitiously facilitating the

attraction, retention and expansion of diverse businesses to create employment

opportunities and to build a differentiated and sustainable economic base. Being

solution-driven, the Center successfully aligns community and business interests and

delivers a robust suite of business support that includes, but is not limited to, financial

underwriting, real estate acquisition and build-out, skilled labor pool access,

infrastructure development and technical assistance.

Although business attraction is a primary function of the Center, it is certainly not

the Center’s only function. The fact is that retaining and expanding existing businesses is

equally vital to the economic health of Montgomery County. The Center works directly

-- on a daily and intensively interactive basis -- with existing employers to initiate

capital investments, foster job creation and mitigate the threat of business closure or

relocation. The Center reaches into its deep set of capabilities to provide local businesses

with technical resources; to identify expansion opportunities; and, to secure financial,

technical, marketing and training assistance. Furthermore, by utilizing the tax-exempt

bond issuance capacity of the MCIDA, businesses can access long-term financing with

the substantially-lowered interest rates and associated tax incentives that are critical for

firms during difficult times, such as the initial start-up period or during a large expansion

project.

Successful economic development efforts require multiple partners. Accordingly,

the Montgomery County Business Development Center created the Montgomery County

Economic Development Consortium “the Consortium.” The Consortium is a partnership

of local, regional, and state economic development organizations that routinely approach

economic development issues from different directions, yet, collectively, possess the

extensive sets of knowledge, skills and resources that are needed to surmount vexing

challenges and exploit emergent opportunities. Consortium members, who are experts in

retention and attraction, workforce development, customized training, loan assistance,


2013

business planning, grant procurement, operational assessments and improvements, all

contribute to strengthening businesses and growing our economy. The role of this

consortium is to reach out to companies that are well established in the County,

determine what they need and, then, deliver the requisite resources.

.


2013

MCIDA Year in Review

January 2013- Organizational Meeting

Resolutions were passed adopting the Agency’s Slate of Officers, Uniform Tax

Exemption Policy, Investment Policy, Procurement Policy and Public Authority

Accountability Act Policies.

January 2013

Authorities Budget Office Recommended Best Practice Memo regarding “Discretionary

Funds” was reviewed. Mr. Rose indicated that these new changes to the policy manual

would need to be reviewed and adopted.

A resolution was passed authorizing Montgomery County Industrial Development

Agency Chairman to sign and enter into contract for Administrative and Staff support

services, upon County approval.

A resolution was passed authorizing extra work authorization #1 for Clough Harbour and

Associates, 5-year habitat monitoring in the Florida Business Park.

Mr. Rose discussed several emails that were sent by him to Board Members over the last

couple of days regarding Economic Development Strategies. He indicated that he would

be sending economic profiles of what site selectors are looking for in a site/community.

He further discussed a regional approach to economic development and detailed some

examples of collaborations associated with the GLOBALFOUNDRIES project.

Mr. Rose indicated that he would be sending information on to the Board Members to

keep them apprised of what staff is doing here in this office on a daily basis. He

discussed the issue of being short staffed and how other Economic Development offices

are staffed compared to Montgomery County.

Mr. Rose discussed the necessity of input from the County Board and members of the

IDA Board to help devise a viable economic development program. Chairman of the

Board of Supervisors, John Thayer, discussed getting groups together to try to get funds

that are out there. Mr. Thayer wanted to be proactive as someone else is always out there

clamoring for those funds.

Mr. Rose brought up concerns of perception of infighting at the municipal level. What is

in the papers is what site selectors and business decision makers are looking at. They

need to see newspaper articles that are pro industry and development. Mr. Rose also

discussed how important education and workforce are to an overall economic

development strategy.

Mr. Rose wrapped up the discussion by summarizing that he was open to any ideas that

anyone had. Mr. Thayer asked Mr. Rose to prioritize his needs.


2013

February 2013

Mr. Rose discussed the branding effort that was done a few years ago and the need to

take a look at a new marketing effort. Mr. Rose reached out to Richard Kline of Shannon

Rose Design a few months to discuss options. Mr. Rose also discussed the branding ideas

being discussed related to the County’s Tourism effort, which is also housed in the

MCBDC. Mr. Rose asked Mr. Kline to put together a proposal that would cover a

branding effort and an updated web design for both tourism and the IDA. Mr. Kline

reviewed the various aspects of his proposal, explaining that the effort would consist of

brand therapy, marketing and design guidelines as well as logo and website updates. He

inquired about whether or not the MCBDC could work with local businesses to buy into

the website (as in advertising) to help some of the costs associated with the proposal.

Inquires were also addressed as to whether or not Shannon Rose was a Search Engine

Optimization Company. Mr. Kline indicated that Shannon Rose was not an SEO

company.

Communication from Counsel (Hodgson Ross) was reviewed. The memo was in regard

to the Governor’s Executive Budget and how it will potentially affect Industrial

Development Agencies. MCIDA Counsel, A. Joseph Scott, explained that the proposed

legislation would potentially severely limit the authority of industrial development

agencies to provide State sales and use tax exemptions. Mr. Scott explained that the hope

would be that these proposals will be eliminated in the final budget.

Mr. Rose updated the board members present on the $8 Million of Community

Development Block Grant money that was awarded to the Office of Housing and

Community Renewal to be used in the Mohawk Valley Region as part of the 2nd

Round

of the CFA. He indicated that other regions didn’t receive as much. Mr. Rose is working

on a process to solicit potential projects because, if awarded, they will have to be

implemented pretty quickly. That process will include a press release about the

preliminary process. Projects will need to be submitted by March 8th

, and then reviewed

by March 15th

at the regional level. If identified as a potential project for funding, the

applicant would then need to fill out a full application. It is anticipated that Housing

and Community Renewal will review projects in April with award announcements

sometime in May.

Mr. Rose explained the Property Inventory and Disposition Report to the Board members

present and that this is a requirement of PAAA. This report must be submitted to the

ABO and is due when PARIS is due. John McGlone inquired with agency counsel about

our responsibilities of reporting on property that is leased and leased back. Mr. Scott

explained that those properties do not need to be listed.

A resolution was passed adopting Performance Measures for 2013 and Measurement

Report.


2013

March 2013

West & Co. provided an overview of the MCIDA 2012 Financial Statement. Mike Rossi

reiterated what was conveyed in the Audit Committee Meeting, that there were no

findings and everything went smoothly. The Agency received an unqualified opinion. He

again explained that the statements would need to be accepted by the Board and then

signed by the CEO and CFO. Once that is complete the report is required to be filed with

the Authorities Budget Office.

A resolution was passed accepting the audit report presented by West and Company,

CPA for financial period ending December 31, 2012.

A resolution was passed to accept the annual financial report of Montgomery County

Industrial Development Agency in accordance with public authority accountability act of

2005 as presented and certified by the CEO and CFO.

Mr. Rose reviewed communications from the LaBerge Group who wrote in regard to

upgrades that are needed at the Fonda-Fultonville Joint Wastewater Treatment Plant. Mr.

Rose explained that this relates to responses he solicited for projects for community

development in conjunction with the funding available through the State of New York.

Mr. Rose explained that this project along with several others was submitted to the

Regional Economic Development Council for support.

Mr. Rose discussed the department’s annual outreach visits in which staff visits

companies in the County that we either have or have not done business with in the past.

He explained that it is a way to find out what some of their issues may be and how our

programs and those of our partner agencies may help them going forward. He informed

the Board that of the visits that have been made so far, the number one complaint by

business owners was the lack of information about the costs related to the new healthcare

legislation.

Mr. Rose updated the board members present on $8 Million of Community Development

Block Grant money that was awarded to the Office of Housing and Community Renewal

to be used in the Mohawk Valley Region as part of the 2nd

Round of the CFA. Mr. Rose

indicated that the Office of Community Renewal has control over the dollars with input

from the Regional Council. He also went on to explain that of the 9 projects submitted for

Montgomery County, 8 were economic development projects. The total project dollars

requested was $1.7 million.

Mr. Rose introduced Ms. Schneider who gave presentation of her history of Saratoga

Economic Development Corporation along with economic development in Saratoga

County. She explained the process in which SEDC and several Saratoga County partners

worked together to obtain Global Foundries and make Luther Forest Technology Park a

reality. Ms. Schneider answered questions about spin off businesses and costs of living.

Mr. Rose thanked Ms Schneider for attending.


2013

Board members present continued to talk about the ongoing branding effort and the

direction the MCIDA would like to head in. Mr. Rose indicated that staff has reached out

to several marketing agencies regarding a branding proposal and not all have returned

quotes at this time. It was the general consensus of the Board that a special meeting

would be called in the very near future once all quotes were received so that the Board

could make a decision about it’s involvement in the branding effort being taken relative

to tourism.

April 2013

Mr. Rose informed the Board that as a result of Consortium visits with local companies

and their expressed concerns with the uncertainties of the upcoming health care laws, he

will be reaching out to the FM Regional Chamber to have seminars related to this topic

available

Mr. Rose also discussed his recent visit with WW Custom Clad and their new metal

product, which looks like marble and granite. The company’s biggest issues right now

are related to the sun-setting of Empire Zone Credits as it relates to utility rates. The

company used to receive significant discounts on their utility bills by being a part of this

program. Mr. Rose will reach out to National Grid for assistance on behalf of the

Company.




Round of the CFA. He

explained that the program is still proceeding and laid out the timeline of awards.

Mr. Rose discussed with Board members

the ongoing branding effort and the

direction the MCIDA would like to head

in. Mr. Rose indicated that all proposals

were received and reviewed at this point

and a decision needed to be made about the proposals received. The consensus of the

Board members was to begin contract negotiations with North Star Destination,

Strategies, Inc. of Nashville, Tennessee as they had the most comprehensive community-

branding proposal. Mr. Rose was advised to work with Agency Counsel to develop a

contract that can be presented at the next monthly meeting with a resolution to allow the

Chairman to sign such agreement.

Mr. Rose explained that he would be coordinating a Developer Familiarization Tour in

conjunction with Fulton County. Invitations will be sent out directly to site selectors.

Both County groups will spend time (and funds) courting these key stakeholders in the

hopes of increasing company acquisition prospects.


2013

Mr. McGlone, Board Member, explained that the Village of Canajoharie is making an

application to get the Village on the National Register of Historic Places and that it would

be beneficial if the Agency supported this application.

Mr. Scott, Agency Counsel, gave the Board a brief update on a memo that was sent to by

his firm to provide their clients with an update on the Governor’s legislation on IDAs.

Mr. Scott indicated that they perceived the most recent legislation to be more positive

than the previous, even though there are more reporting requirements.

May 2013

Mr. Rose reviewed a letter from New York State Department of Environmental

Conservation to John McDonald Engineering in regard to Glen Canal View Business

Park, Lot 3B – Grading Project. The DEC has reviewed all submittals regarding the

project and has determined that the project has been completed as per the approved plan

documents.

Mr. Rose informed the Board that National Grid and Target have come to an agreement

on the substation at the Florida Business Park and that signoffs will be forthcoming with

construction of the new sub-station commencing sometime this year.





explained that the program is still proceeding and laid out the timeline of awards. He

discussed the potential for a Microenterprise Grant Program awarded to this office as part

of the process. Decisions on which projects will be asked to provide complete

applications by the Office of Housing and Community Renewal will be made in the next

couple of weeks.

Mr. Rose was advised to work with Agency Counsel to develop a contract with North

Star regarding the joint branding effort with the County. Mr. Rose went through the

negotiation process and presented a resolution for adoption based on that directive. Mr.

Rose also discussed that the Agency will enter into the contract with North Star and that a

cost sharing agreement with the County will be forthcoming.

A resolution was passed authorizing a branding contract with North Star Destination

Strategies, Inc.

A resolution was passed authorizing the agency to enter into an option agreement

for the purchase of certain land.

Mr. Rose explained that the Glen Canal View Park Entrance and cul-de-sacs are in need

of approximately $100,000 in repairs. Discussion ensued regarding the necessity of those

repairs and who would bear the cost of those repairs. Mr. Rose indicated that he will


2013

continue discussion with Paul Clayburn, Commissioner of Public Works to determine the

exact costs and determine a course of direction for the future.

June 2013

There was no meeting in June.

July 2013

Mr. Rose reviewed a letter from McKenzie and Tallent regarding the demand and

acceleration of Note with Embassy Mill Works, Inc. Mr. Rose also reviewed a letter

from John McDonald Engineering to Project Delivery’s engineer. Mr. Rose asked Mr.

McDonald to send this letter to outline the scope of work McDonald Engineering has

been undertaking for the Florida Business Park Expansion Project.

Mr. Rose informed the Board of ongoing telephone and computer issues that have taken

place in the office. He wanted to let the Board know that the Montgomery County Board

of Supervisors Economic Development Committee has reviewed and moved forward a

resolution to purchase new computers for the department and to upgrade the wiring into

the building so that computer/phone communication issues will be resolved. This will

still need to pass at the Full Board meeting at the end of the month but it is anticipated

that once that hurdle is cleared, the office can move forward. In the mean time, Mr. Rose

asked for the Board’s patience when calling/emailing the office.


Block Grant money that was awarded by the Office of Housing and Community Renewal



explained that of the $8M awarded Montgomery County projects are anticipating

receiving approximately $1.3M for projects such as the Fonda-Fultonville wastewater

treatment plant, Vida-Blend and Gehrig Tricot.

Jacki Meola provided an update to the Board members regarding the marketing/branding

effort with North Star. Ms. Meola explained that staff is completing a Situation Analysis

for the company which will provide the company with an enormous amount of detail

about the County, its communities and its structure. This will be further enhanced by an

in-market visit from 3 representatives of North Star the week of August 12-16. Ms.

Meola explained that there will be numerous opportunities for Board members as well as

other stakeholders in the community to meet with the consultants to contribute to the

project.

A resolution was passed authorizing the agency to execute and deliver a certain license

agreement with a company that is interested in property in the Florida Park Extension.

A resolution was passed recommending a revolving loan fund approval for Tres Locos.


2013

Mr. Rose gave the Board an update on the office’s efforts regarding those businesses

affected by the flood. Mr. Rose has received approval of the Board of Supervisors to

accept applications for the County’s Revolving Loan Fund to provide bridge loans to

businesses for up to $200K. These loans would have no interest for six months and then

convert to a 60-month loan at a rate of prime -2% interest thereafter. As with the RLF,

the MCIDA would act as the loan review committee but in the interest of expediency, the

Chairman of the Board of Supervisors would be authorized to sign those loans given

approval of the MCIDA (versus waiting another 30 days for BOS resolution.) Mr. Rose

wanted the Board to be aware in case there was a need for any special meetings related to

these loan requests and approvals.

Mr. Rose also advised the Board that National Grid, with PSC approval, will once again

offer grants through their Main Street Emergency Grant Program, as was done in 2011

with Hurricane Irene. The MCIDA will need to endorse the grants. Mr. Rose explained

that National Grid is hoping that maximum allowable grants will be up to $50K, as

previously the limit was $25K.

Mr. Rose provided an update to the Board regarding the new round of the Consolidated

Funding Application process. He explained that Priority Project Applications are due on

July 25th

and that all CFAs will be due on August 12th

(whether filing as a Priority Project

or not). The Regional Council expects that award announcements will be made sometime

in October.

August 2013

Mr. Rose reviewed the report submitted by CHA on the Habitat Management Plan – 5

year monitoring of the Habitat Management area in the Florida Business Park. The

purpose of the plan is to provide and maintain habitat that is suitable for the Northern

Harrier and other grassland species as mitigation for the loss of habitat associated with

the construction of the Florida Business Park. Mr. Rose further explained that this is the

final proposed breeding bird survey/report required under the existing report. The

management area appears to be in compliance with the stated goals of the permit and

management plan.

Mr. Rose updated the Board on the Consolidated Funding Application process. He

indicated that the process in now finished and that the liaison committee has met.

Awards are expected to be announced in late October or early November.

Mr. Rose updated the board members present on the Florida Business Park Extension.

He indicated that the wetland and archeological work was on-going and that a request

would be prepared for the Town of Florida to modify the zoning district from C-1 to IBP

as was done previously for the Park Extension. Mr. Rose informed the board that the

County was still shortlisted for Project Delivery with two other sites.

Jacki Meola provided an update to the Board members regarding the marketing/branding

effort with North Star. Ms. Meola explained that North Star completed their “in-market”

visit August 12-15. While here, North Star did numerous driving tours, focus groups,


2013

one-on-one interviews, and a photo compilation of the County. Ms. Meola indicated that

the next step will be for the community to participate in a second survey to help round

out their research. Senator Tkaczyk offered her assistance in getting the word out when

the survey is available

Mr. Rose explained that the MCIDA has been awarded a $40,000 grant by National Grid

to assist with funding of the branding effort. A resolution was passed approving grant

agreement - National Grid

Mr. Rose informed the board that National Grid set up a Flood Recovery Grant Program

for businesses affected by the flooding in June. The program provides up to a $50,000

grant for businesses which sustained losses. As part of the program, the local economic

development agency needs to endorse each of the applicant’s projects certifying that they

are familiar with the business and project. Motion was made by John Macci and

Seconded by Carol Shineman to authorize staff of the Agency to sign said endorsements

as requested by the business and program. All those present were in favor.

A resolution was passed recommending a revolving loan fund approval for Save-a-Lot.

Mr. Rose reviewed the upcoming site selection familiarization tour with JM Mullis Inc.

A resolution was passed approving agreement – site selection familiarization tour – JM

Mullis Inc.

September 2013

There was no meeting in September

October 2013

Mr. Rose reviewed the Letter of Engagement from MacKenzie and Tallent for

Commercial Real Estate Services related to Revolving Loan Fund closings. Mr. Rose

explained this action must be approved by the Montgomery County Board of Supervisors

before revolving loan fund closings can continue using the services of MacKenzie and

Tallent.


He indicated that work by McDonald Engineering continues to be done at the Park. Mr.

Rose will be attending the Town of Florida meeting to continue to pursue the IBP Zoning

delineation of the Extension as was done with previous Park Extension. Mr. Rose

informed the Board that the County is still on a short list of three for Project Delivery.

Ms. Meola provided an update to the Board members regarding the marketing/branding

effort with North Star. Ms. Meola explained that Fulton County has chosen to join the

branding study. This will not replace the Montgomery County portion of the study, but

rather, enhance it to add a regional branding component specifically for regional

economic development promotion. Ms. Meola explained that adding this component will


2013

push out the end date slightly – from February to the end of March since North Star will

be running certain modules concurrently to achieve better economies of scale. Mr. Rose

then explained to the Board that the Regional Brand will cost an additional $46,000 –

none of that cost being incurred by Montgomery County. Mr. Rose indicated that

National Grid will pay an additional $23,000 and the remaining $23,000 cost will be

borne by Fulton County.

After discussions with all involved parties, it was determined that the best way to

structure the Regional Brand was for Montgomery County to amend its current contract

and then cost share with Fulton County & National Grid for the additional $46,000 for a

Regional Brand. A resolution passed amending the branding contract – North Star

Destination Strategies, Inc.

Ms. Snell explained that Vida Blend, Inc. has asked that the current loan be amended to

remove Mr. Flacke from any guarantees related to the loan. Mr. Flacke has sold his

portion of the business to new owners and the company has reformed under a new name,

(Vida Blend, LLC) and all revolving loan documents should be updated to reflect the

change. Mr. Scott expressed

that his recommendation is to proceed with amending the guarantee and loan documents

through MacKenzie and Tallent once given approval by the Board of Supervisors to

utilize their services. A resolution was passed recommending chairman to sign

amendment to revolving loan fund agreement for Vida-Blend, Inc.

Mr. Rose reviewed the IDA application that was received from Deer Run at River Ridge

LLC. The applicant is requesting financial assistance from the IDA in connection with

the development of a 3-Story, 94,000 sq. ft. adult care facility with 120 assisted living

program beds. Additionally, the applicant is proposing to construct fourteen-three unit

senior houses totaling 56,000 sq. ft. and a 4,400 sq. ft. clubhouse. Mr. Scott explained to

the Board that the Resolution at this time only begins the process and authorizes the

scheduling of a public hearing and that it does not commit the Board to approving this

application. A resolution was passed authorizing the chief executive officer of

Montgomery County Industrial Development Agency to hold a public hearing regarding

a proposed project to be undertaken for the benefit of Deer Run at River Ridge, LLC.

Mr. Rose explained the proposed 2014 IDA budget and asked for a motion to except the

budget as presented. The motion was sponsored by John McGlone and seconded by John

Macci. All present were in favor. Motion carried.

Mr. Rose reviewed the terms of the new agreement between Empire State Development

and the IDA as it relates to the Hero/Beech-Nut Nutrition Corporation Project. A

resolution was passed authorizing the execution by Montgomery County Industrial

Development Agency of a certain amended grant agreement in connection with the

Beech-Nut Nutrition Corporation.


2013

Mr. Rose informed the Board that Power Pallet has now met all the necessary

requirements to convert their previous loan from the Office of Community Renewal to a

grant – as authorized by the Board of Supervisors by resolution last year.

Mr. Rose discussed the need for additional engineering services for the Florida Business

Park Extension Project as it relates to the possible acquisition of an additional adjacent 77

acres. Mr. Rose explained that this would be the third amendment to Mr. McDonald’s

current contract and includes steps/tasks to be included for the environmental review

under SEQRA, site plan and subdivision approval. Mr. Rose further explained that the

costs incurred by this amendment are currently set aside in the County’s Capital Project

Account for the Park. The IDA would be paying for this bill and the costs would be

reimbursed from the Capital Account at the County. A resolution was passed amending

engineering services contract – McDonald Engineering – Florida Park Extension.

November 2013

There was no meeting in November


2013

December 2013

Mr. Rose discussed the Wetland Mitigation Report enclosed in the packet. This report

finalizes the 5-year reporting period that was required for 2 parcels when the ACOE

permit was issued for the Beechnut Facility in the Florida Business Park. The report

recommends that no further monitoring be required because they Wetlands have

developed in accordance with the Mitigation Plan.

Mr. Rose went on to discuss the new Start Up NY Program and its association with

Fulton Montgomery Community College. The Tryon site and the Florida Park site will

be designated for this program and it will be on a first come, first served – basis. Under

this program, 200,000 Sq. ft. in total building space can be designated.

Mr. Rose informed the board of the Mohawk Valley Regional Economic Development

Council’s recent awards for consolidated funding applications that were submitted in

August.


It is anticipated that the Town of Florida Planning Board and Town Board will finalize

the re-zoning request for the Soodal Property at their January meetings.

A resolution passed concurring in the determination by the City of Amsterdam planning

commission, as lead agency for a certain proposed project for Deer Run at River Ridge,

LLC.

A resolution passed authorizing execution of documents in connection with a

lease/leaseback transaction for a certain project for Deer Run at River Ridge, LLC.

A resolution passed taking preliminary official action toward the issuance of revenue

bonds in an amount not to exceed $27,500,000 to finance a certain project to be leased by

the issuer to the Hamilton Fulton Montgomery Board of Cooperative Educational

Services.

A resolution passed authorizing the agency to contract for professional services for Audit

Services.

Mr. Rose discussed the positive development of the Fonda Speedway that has been taking

place over the past several months in relation to the new promoter at the track.

Mr. Rose thanked Chairman Thayer for his continued support over the past year.

John McGlone discussed the branding initiative and the need to send out a status update

to the general public and participants.


2013

Financial History

INDUSTRIAL DEVELOPMENT AGENCY

CASH, REVENUE & EXPENSES

2012 2013 Cash

Unrestricted Cash $ 1,883,694 $ 958,154

Restricted $ 248,412 $ 294,490

Total Cash $ 2,132,106 $1,252,644

Operating Revenues Charges for Services $ 4,772 $ 83,404

Rental Financing Income $ 22,181 $ 21,271

Other Operating Revenues $ 19,175 $ 43,500

Total Operating Revenues $ 46,128 $ 148,175

Operating Expenses Salaries and Wages $ 28,000 $ 26,500

Other Employee Benefits $ 2,562 $ 2,494

Professional Services Contracts $ 25,052 $ 69,494

Supplies and Materials $ 1,579 $ 843

Depreciation & Amortization $ 3,251 $ 3,251

Other Operating Expenses $ 11,257 $ 7,641

Total Operating Expenses $ 71,703 $ 110,223

Operating Income (Loss) $ (25,575) $ 37,952

Non-Operating Revenues Investment Earnings $ 1,005 $ 1,735

State Subsides/Grants $ 0 $ 0

Federal Subsides/Grants $ 0 $ 0

Municipal Subsides/Grants $ 0 $ 0

Public Authority Subsides $ 0 $ 0

Other Non-Operating Revenues $ 0 $ 0

Total Non-Operating Revenues $ 1,005 $ 1,735

Non-Operating Expenses Interest and Other Financing Charges $ 25 $ 0

Subsides to Other Public Authorities $ 17,500 $ 17,500

Grants & Donations $ 0 $ 0

Other Non-Operating Expenses $ 3,025 $ 6,043

Total Non-Operating Expenses $ 20,550 $ 23,543

Income (Loss) Before Contrib $ (45,119) $ 16,145

Capital Contributions $ 0 $ 0

Change in Net Assets $ (45,119) $ 16,145

Net Assets (deficit) Beginning of Year $ 1,745,958 $1,791,049

Other Net Assets Changes $ 0 $ 0

Net Assets (deficit) at End of Year $ 1,791,049 $ 1,807,194


2013

Community Development Fund

The Montgomery County Community Development Fund was started in 1989 to provide

funding to qualified economic development projects. The main function of the Fund is to

provide low interest loans to businesses located in or relocating to Montgomery County.

These loans provide the businesses with the capital necessary to create and retain jobs,

purchase new equipment to meet the changing needs of their businesses and to provide

working capital.

As of December 31, 2012 the Fund had approximately $1,684,047 available to local

businesses. In 2013, the Fund made two new loans totaling $250,000, which will lead to

the creation of 12 new jobs and the retention of 20. The fund currently has over $2.68M

in outstanding loans to 14 county businesses along with $1.8M available to loan. The

IDA and MCBDC continue to work with new and existing businesses, making these

companies aware of the programs offered through the Community Development Fund.

$1,800,000

$2,680,000

CD Funds Available Outstanding Loans


2013

Planning Division The Planning Division of the Montgomery County Department of Economic

Development, Planning and Tourism had a demanding and productive year assisting local

governments in Montgomery County. Staff not only provided community land use

planning assistance, but also engaged other planning projects and delivered substantive

support to the formulation of many grants within the County’s constituent communities.

Senior Planner Doug Greene was replaced by Heather M. Urwiller, AICP. Both Doug

and Heather worked diligently to provide the necessary assistance that enabled the

County and local municipalities make smart planning choices and improve the quality of

life for all residents.

Planning Projects/Initiatives from 2013

County Local Waterfront Revitalization Planning (LWRP)- The Planning Division continued to work with the New York State Canal Corporation

and the New York Department of State in developing better countywide coordination of

Local Waterfront communities. The long-term goal is a unified string of waterfront

communities with opportunities for events, improved river access and economic

revitalization. Waterfront communities served include the City of Amsterdam, the

Towns of Glen, Mohawk, Canajoharie, Minden and St. Johnsville and Villages of Fonda

and Fultonville, Canajoharie, Fort Plain and St. Johnsville.

Waterfront Revitalization

Implementation Projects

Wrapping Up-

Senior Planner Greene, the

project manager for two

LWRP grants, led the

advisory committees that

planned a waterfront park

in Fonda and a designed a

trail in Fort Plain -- a route

that was being developed at

the location of a

revolutionary war era road

and will link the Canalway

Trail to the Fort Plain

Museum, Wiles Park and

the Village.

Hazard Mitigation Activity-

In the aftermath of Hurricane Irene and Tropical Storm Lee (September 2011), the

Planning Division volunteered to help the Towns of Florida and Charleston and the

Village of Fonda as these communities assisted flooded property owners in making

applications to FEMA for buy-out and structural elevation grants. Buy-outs for three (3)


2013

properties in Fort Hunter, one (1) on Young’s Corner Road in the Town of Florida and

three (3) properties in the Town of Charleston were underway during the year. One

property owner in Fonda applied for a structural elevation grant to raise their home above

the 100-year flood elevation.

Solid Waste Management Planning-

The Planning Staff has taken the lead in developing a Solid Waste Management Plan and

establishing a path for the future as the County moves towards ending its relationship

with MOSA.

Montgomery County Charter Commission-

Staff support was provided to a Board of Supervisors County Government Study

Committee throughout 2012 & 2013 and then to the Charter Commission -- which then

formulated the seminal proposal to change the County form of government from a Board

of Supervisors to a County Legislature and Elected County Executive. The Charter was

approved by voter referendum in the November election. Subsequently staff continued to

provide additional help with the mapping of legislative districts and the drafting of legal

boundary descriptions.


2013

Local Board Training –

State law mandates that local planning and ZBA Boards receive 4 hours of planning

related training per year. During 2013 the Planning Division helped organize and host a

training session, in conjunction with Fulton County, in September at FMCC.

Local Planning Assistance-

During 2013, Planning Division worked with the Towns of Minden (Special Use and

Town Comprehensive Plan), Canajoharie (Infrastructure), Palatine (Subdivision and

Special Use Issues), Amsterdam (Development Reviews) and Florida (Flood Mitigation).

Additionally, the Villages of Fort Plain (LWRP and Economic Development and Fonda

(LWRP Grant and Flood Mitigation) were provided with staff technical planning support

on an ongoing basis.

GIS Mapping Assistance- Planning staff provided various mapping products (Zoning, Floodplain, Agricultural

Districts, Property Information) to numerous county agencies, fire departments, local

municipalities, businesses organizations, realtors, appraisers other interested parties was

provided throughout the year.

County Planning Board Staff- Assisted the County Planning Board by providing professional planning advice and

recommendations for local referrals submitted to the County Planning Board and by

providing administrative support.

Additional Projects and Grant Activity-

The Planning Division either wrote or administered the following grants during 2013.

Cleaner, Greener Communities Regional Sustainability Grant- Staff

acted as the county representative for a NYSERDA planning grant for the

Mohawk Valley Economic Development Region. Further, staff served on

a Land Use Work group to develop regional land use guidelines for

sustainability.

Snowmobile Trails Grant-in-Aid Program- The Planning Division

continues to act as the County sponsor for the Montgomery County

Snowmobile program. Five local clubs maintain and groom over 190

miles of snowmobile trails. These trails bring much needed wintertime

recreation and economic benefits to the County. The Clubs received over

$56,350 for the 2013–2014 season.

Shared Road Efficiency Study- This $35,000 grant evaluated how to

create new efficiencies in local and county road maintenance. The study

was completed in 2013 and steps to implement the its findings are

underway.


2013

Hazard Mitigation Plan Update- Tetra Tech was selected as consultant

and the Hazard Mitigation Plan update has began in early 2013 under the

direction of the Planning Division.

Disaster Mitigation Grant- The Planning Division wrote a successful

grant for over $400,000 from DEC to assess debris along the Schoharie

Creek. These grant funds were also allocated to underwrite the costs of

County DPW clean-up of several creek sections and to supply the required

grant match for other flood damage remediation projects in Fort Johnson

and the Town of Amsterdam.

Military Road Trail Phase 2- This CFA grant application, written by

staff, yielded $80,000 to construct a trail that will connect the Canalway

Trail to the Fort Plain History Museum. The construction was completed

during 2013.


2013

County Public Transportation

Montgomery County’s Public Transportation System consists of a daily commuter run

from Fonda to Albany, and a western public transportation route from St. Johnsville to

Fonda and the Fulton Montgomery Community College campus. These systems connect

with the City of Amsterdam Transit and the City of Gloversville Transit and allow

residents to have access to jobs and education the entire length of the County and beyond.

The Business Development Center is the County’s interface with Brown Coach, the

County’s third party provider for all public transportation. As the County sponsor, it is

the MCBDC’s responsibility to provide all administration related to the State and Federal

grants that are utilized for public transportation.


2013

Tourism

The County’s Tourism Program took a big step forward this year by utilizing I Love New

York Matching Funds to partner with the MCIDA and National Grid to embark on a

County-wide Branding initiative. This intensive branding program is designed to

discover, define and design the County’s competitive differentiator. The ultimate goal of

the County-wide initiative is to attract businesses, residents and tourists to the county and

to improve and maintain quality of life for existing citizenry. To bring outside objectivity

to the project, Montgomery County partnered with Nashville-based North Star

Destination Strategies, who has helped develop community brands for more than 200

communities in 40 states nationwide.

The department also continued participation in the Governor’s Path Through History

initiative and the Buy Central New York Fresh campaigns that are both expected to

bolster history and agri-tourism, respectively, by implementing a joint marketing program

throughout Central New York and create efficiencies in promotion and sales to consumer

travelers in support of tourism and agriculture jobs.

Throughout 2013, the Department, with the Board of Supervisors’ approval, also

administered the Local Tourism Grant Program. The County received 13 applications for

funding; this amount was down slightly from 2012. However, 10 organizations were


2013

awarded funding for a total of $29,800 to better enhance local tourism. This dollar figure

nearly triples the amount of funding awarded in 2011 and 2012. The events and activities

supported by this program ranged from the Arkell Museum and Riverlink Park Summer

Concert Series to annual festivals and celebrations as well as walking tours for local

historical societies.

The Regional Visitor Center, located in the Village of Canajoharie, opened its doors in

2013. The Regional Visitor Center is a collective of private business owners, volunteers,

individuals, and members of the Mohawk Valley Collective. Their mission is to promote

local tourism; to serve as a clearinghouse for information about our communities’,

regions’, and State’s historic, geological, cultural, and recreational attractions, events and

accommodations.


2013

Projects and Successes

Footehills Farm USDA Loan –

In December 2013, a $30,047

loan was issued to Footehills

Farm through the Montgomery

County IDA’s USDA Rural

Loan Find. The proceeds were

utilized to purchase machinery

and equipment to expand the cheese manufacturing business. This project will result in

the creation of 1 and the retention of two positions.

Tres Locos Revolving Loan –

On October 2013, a $50,000 loan was issued to Tres Locos through the Montgomery

County Community Development Fund. The loan proceeds were utilized for the

purchase of refinancing and working capital. This project will result in the creation of 12

new positions.

Public Benefit –

In 2013 the Agency worked with Companies that received direct project funding through

New York State’s Regional Economic Development Councils for new projects in the

County.

Deer Run at River Ridge-

Awarded a $1 million ESD Grant for the development of a $20+ million assisted living


2013

Sr. Housing Complex in the City of Amsterdam. The project is expected to result in the

creation of up to 73 full time jobs.

American Hotel and Hospitality Management LLC.-

Awarded a $880,000 ESD Grant to retro-fit an existing hotel in the City of Amsterdam

into a Hampton Inn. This is will be a $6.8 million dollar project leading to the retention

of 6 jobs and creation of additional 20.

Erie Canal RV Resort and Campground-

Awarded a $150,000 grant for the development of a 125 site campground with other

amenities adjoining the Mohawk River in St. Johnsville.

Erie Canal Distillers-

Awarded an ESD Grant and Excelsior Jobs Credits totaling $20,000 for the development

of a Distillery in the Village of Fort Plain.

Save-A-Lot Revolving Loan –

In October 2013, a $200,000 loan was issued to Save-A-Lot through the Montgomery

County Community Development Fund. The loan proceeds were utilized for the

replacement of machinery, equipment and fixtures after devastating flood damage caused

in June 2013. This project will result in the retention of 20 positions.

Branding Initiative and

National Grid Marketing

Grant-

Received a $40,000

matching grant through

National Grid for a County

Branding Effort which will

define the County’s Brand

and identify its strategic

position in the market place.

The branding initiative will

result in a 15 point action

plan to implement and

capitalize on the County’s assets in order to attract more jobs and capital investment.

Regional Business Plan for Fulton and Montgomery Counties –

The Center continues to work with Fulton County Economic Development officials,

educational and political leaders and area business leaders in implementing the Fulton

and Montgomery Counties Regional Business Plan. The Agency partnered with the

Fulton County Center for Regional Growth on bringing an international site selector, J.M.

Mullis, to the Fulton-Montgomery Region to evaluate and report on various sites

throughout the Two-County Region.


2013

Park Development –

In order to develop a large shovel ready site the IDA optioned and began the

environmental review process on a 77 acre parcel adjacent to the Florida Business Park

Extension. To date all environmental work including a geo-technical investigation,

archeological, wetland and engineering studies have been concluded. The Town of

Florida, upon our request, re-zoned the property from C-1 to Industrial Business Park in

January of this year.


2013

Partnerships

The Montgomery County Business Development Center has established strong

partnerships with many organizations at the local, regional and state levels of which all

are focused on the goal of business development.

Montgomery County Economic Development Consortium-

The Montgomery County Economic Development

Consortium is a partnership of local, regional, and state

economic development organizations. The organizations,

which comprise this alliance, were strategically chosen

because they each deal with economic growth issues.

Issues such as retention and attraction, workforce

development, and customized training, loan assistance,

business planning, grant procurement, operational assessments and improvements all

contribute to strengthening businesses and growing our economy. The goal of this

consortium has been to reach out to companies that are well established in the County

and find out what they need and offer the services of the Consortium’s members to assist

in any issues the County’s companies may be facing. The following are members of the

consortium: Montgomery County Business Development Center, Empire State

Development, New York State Dept. of Labor, Mohawk Valley Economic Development

District, Fulton-Montgomery Regional Chamber of Commerce, FMS Workforce

Solutions System, Amsterdam Industrial Development Agency, Mohawk Valley Applied

Technology Corporation and Fulton-Montgomery Community College.

Amsterdam Industrial Development Agency-

The Amsterdam Industrial Development Agency is committed

to attracting and retaining economic development

opportunities within the City of Amsterdam. AIDA works

with a variety of agencies including the Montgomery County

Chamber of Commerce and the Montgomery County Business

Development Center as well as many others to provide a

comprehensive portfolio of services to existing and

prospective clients.

Fulton Montgomery Regional Chamber

of Commerce-

The Chamber is an association

comprised of regional businesses and

their representatives. With more than

925 members strong, the Chamber is the leading voice of business in the region providing

advocacy, resources and solutions to their members. Together, they work to improve the

region’s economic and social prosperity.


2013

Montgomery County Ag. Economic Dev. Project-

The Montgomery County Agriculture Economic

Development Project works under the guidance of the

Agriculture Economic Development Committee. The

Mission of the project is to:

Encourage the continued use of productive

farmland for agriculture use.

Improve the economic sustainability of

agriculture in Montgomery County through

increased marketing options, alternative crops,

value added processing, and identifying other opportunities.

Promote the expansion and relocation of agribusiness in Montgomery County.

Increase agriculture viability and profitability within Montgomery County.

Focus on the needs of local farms and agribusiness to facilitate solutions that are

in balance with local technical, financial, and ecological resources.

Educate the public about the business of agriculture.

Fulton County Center for Regional Growth-

The Fulton County Center for Regional Growth is MCBDC’s counterpart in neighboring

Fulton County. MCBDC and FCCRG have discussed potential collaborations including

the development of a regional business park and the implementation of a regional

marketing program. FCCRG provides a variety of services to existing businesses in

Fulton County as well as working with MCBDC and other entities to attracting new

businesses to our region.

Fulton Montgomery Community College-

Community colleges, like FMCC, have a number of services and

activities of which employers may want to take advantage. These

include hiring graduates, providing internships, meeting space, and

training of existing employees. The Center for Employer Services

at FMCC is designed to be an employers “one-stop shop” to access

these types of services.

The Fulton, Montgomery and Schoharie Counties Workforce Solutions System-

The FMS Workforce Solutions System brings

together multiple programs and services to job

seekers and business customers. Customers are

able to conveniently access the employment,

training and information services they need. Some

of the services that are provided: Human resource

consultation, job description development,

applicant screening, on-the-job training

opportunities, outplacement assistance, and

employed worker training.


2013

Mohawk Valley Applied Technology Corporation (MVATC)-

MVATC is a business development

corporation whose vision is to promote the

growth of the Mohawk Valley economy by

supporting the development of for-profit, high

technology and manufacturing businesses.

MVATC’s staff of locally experienced

manufacturing and technology business

consultants provide businesses the awareness, training tools and techniques that enable

the business to change and remain competitive in today’s global economy.

Mohawk Valley Economic Development District-

The MVEDD's major responsibilities include infrastructure planning and development

with access to federal Economic Development Administration grant funding. Small

business lending from our revolving loan funds provides access to capital at below

market rates. The MVEDD also has access to the Small Business Administration's 504

program for fixed asset financing.

Empire State Development (ESD)-

Empire State Development is New York State’s lead

economic development agency. This organization, with co-

headquarters in Albany and New York City, is supported by

a network of 18 additional ESD offices throughout the state and around the world.

The organization is comprised of highly qualified professionals who help businesses:

Start up a company in New York State; relocate to or establish a presence in NYS;

expand already existing operations in NYS; retain and enlarge their workforce in

NYS; and compete more effectively and profitably in the domestic and international

marketplace. Their mission is to provide the highest level of assistance and service to

businesses in order to encourage economic investment and prosperity in New York

State. They work closely with businesses to: identify creative solutions to challenging

problems, generate enhanced opportunities for growth, and help them achieve their

uniquely important, short- and long-term goals.

U.S. Department of Agriculture-

The Agency administers a rural revolving loan fund with funding obtained from the

USDA. The USDA is a strong partner to the preservation and growth of agri-businesses.

The USDA’s mission is to provide leadership on food, agriculture, natural resources, and

related issues based on sound public policy, the best

available science, and efficient management.

New York Business Development Corporation-

The NYBDC mission is to promote economic activity

within New York state by providing innovative loans to

small and medium-size businesses; to assist their partner

banks in making such loans; and, particularly, to assist


2013

minority and women-owned businesses by offering credit opportunities not otherwise

available to them. The Montgomery County Business Development Center has

worked with NYBDC on numerous projects throughout the years.

NYS Small Business Development Center-

The New York State Small Business Development Center (NYS

SBDC) - the premier business assistance organization in New

York State - provides expert management and technical

assistance to start-up and existing businesses across the state.

The NYS SBDC is administered by State University of New

York and funded by the U.S. Small Business Administration, the State of New York, and

host campuses. Through 24 campus-based regional centers, and 29 outreach offices, the

NYS SBDC applies the resources of university, private sector, and government to solve

business problems and foster entrepreneurship. Thanks to partners in the public and

private sectors, these services are free of charge.

National Grid-

National Grid, through their Economic Development Programs,

has a wide variety of services (financial and non-financial)

available to both the business community and economic development agencies. The

Montgomery County Business Development Center, through National Grid’s

Economic Development Programs, has leveraged over a $1,000,000 for various

economic development projects throughout the County.


2013

Board Members and Staff

Montgomery County Industrial Development Agency

Board of Directors

Robert Hoefs Chairman

Eugene Richards Vice-Chairman

John Macci Secretary

Carol Shineman Treasurer

Daniel Wilson Member

John McGlone Member

Robert Harris Member

Joseph Scott, III Esq. Agency/Bond Counsel

Thomas DiMezza Chair Ec. Dev. Committee

(Board of Supervisors)

Montgomery County Planning Board

Luis Aguero 1st Ward

Robert DiCaprio 2nd

Ward

Robert L. Mead 3rd

Ward

Crystal Ricciuti 4th Ward

Andy Reed 5th Ward

Keith Kazala T. of Amsterdam

Holly Rieser T. of Canajoharie

Mike Stalbaum T. of Charleston

Hal Hermance T. of Florida

Keith MacGregor T. of Minden

Wayne DeMallie T. of Mohawk

Donald Mead T. of Palatine

John Lyker T. of Root

Slavatore Giarizzo T. of St. Johnsville

Montgomery County Business Development Staff

Kenneth F. Rose Chief Executive Officer

Sheila M. Snell Chief Financial Officer

Jacki Meola Economic Development Specialist

Heather Urwiller Sr. Planner

he following is a detailed summary of active projects undertaken by the Montgomery The

Economic Development Program

Annual Report 2013


Annual Report 2012

The following is a detailed summary of active projects undertaken by the Montgomery

County Business Development Center. The Montgomery County Business Development

Center has assisted these companies with expansion and retention projects as well as

attracted new companies to Montgomery County. This assistance has been in the form of

loans and various grants along with financial assistance through the Montgomery County

Industrial Development Agency. The figures indicated in the following pages are rounded

to the nearest whole dollar therefore totals may vary slightly. Any questions or concerns

regarding any of the following may be addressed to the Montgomery County Business

Development Center.

In 2013, the assisted companies employed over 2,260 individuals with a combined annual

payroll in excess of $103,000,000 and generated approximately $6,000,000 in property

taxes and PILOT payments. Additionally, these projects accounted for over

$444,400,000 in capital investment.


2013

Project name: Alpin Haus

4850 Route 30

Amsterdam, NY 12010

Project type: PILOT

State Town County School Total

Real Property 45,764 74,498 120,262

Sales Tax

Mortgage Recording

Town County School Total

2013 27,944 45,490 73,434

2012 28,180 46,050 74,230

2011 21,799 30,561 52,361

FTE Employees Prior to IDA

Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

0 0 0 76 0 76

*Includes 38 part time employees, 14 seasonal employees.

Type of Debt:

Date of issue:

Interest rate:

Original Amount:

Monthly Payment:

Current:

Payment in Arrears:

Outstanding:

Beginning of year:

Issued during year:

Principal Paid during year:

Principal Balance:

Final maturity date:

Collateral:

Type of Grant:

Contract Date:

Grant Amount:

Project Description: This project consisted of the purchase and renovation of the facility located on Route 30, Amsterdam.

Grants (Not Applicable to this Project)

Exemptions

Payment in Lieu of Taxes

Debt (Not Applicable to this Project)

Employment


2013

Project name: Breton Industries, Inc.

1 Sam Stratton Road

Amsterdam, NY 12010

Project type: PILOT & REVOLVING LOAN

State City County School Total

Real Property 3,316 3,975 699 13,691

Sales Tax

Mortgage Recording

City County School Total

2103 1,105 662 2,133 3,900

2012 537 - 1,092 1,629

2011 - - - -

*PILOT in effect on 20,000 square foot expansion only. Company now pays full taxes on original facility.

Taxes Paid

School 27,448$

Town/County 16,852$

City 13,866$

58,166$

FTE Employees Prior to

IDA Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

106 (2008 Loan) 10 (2008 Loan) 106 (2008 Loan) 73 0 73

Type of Debt: Revolving Loan

Date of issue: 11/5/2008

Interest rate: 1.00%

Original Amount: 200,000

Monthly Payment: 3,418.75

Current: Yes

Payment in Arrears: -

Outstanding:

Beginning of year: 34,031

Issued during year: -

Principal Paid during year: 34,031

Principal Balance: -

Final maturity date: 11/5/2013

Collateral: The personal guaranty of G. Richard Lewis and machinery and equipment as described in the loan application.

Type of Grant:

Contract Date:

Grant Amount:

Project Description: The original project consisted of the acquisition of property located within the Edson Street Industrial Park

and the construction of an approximately 55,000 square foot facility as well as the purchase of machinery

and equipment. This project resulted in the creation of 43 full time positions and the retention of 92 full time

positions. The 2008 project consisted of an approximately 20,000 square foot expansion of the existing

facility and the purchase of machinery and equipment. This project will result in the creation of 10 full time

positions and the retention of 106 full time positions.


Exemptions

Payment in Lieu of Taxes*

Debt

Employment


2013

Project name: Carolina Clubs, Inc.

113B Charleston Industrial Lane

Esperance, NY

Project type: REVOLVING LOAN

Exemptions (Not Applicable to this Project)


Real Property

Sales Tax

Mortgage Recording

Payment in Lieu of Taxes (Not Applicable to this Project)


2012

2011

2010

Taxes Paid (Not Applicable to this Project)

Building is leased; not responsible for Real Property Taxes

Employment


IDA Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

1 7 1 0 0 0

Debt






Current: No

Payment in Arrears:

Outstanding:




Principal Balance: 64,233


Collateral: 1st position on equipment, known as the Locatelli Multimatic CNC Woodturning Lathe

and a personal guaranty from Kevin Lane


Type of Grant:

Contract Date:

Grant Amount:

Project Description: This project consists of the relocation of operations from Wellington, Florida to Charleston Industrial Park and the

renovation of the facility located at 113B Charleston Industrial Lane as well as the debt refinancing and the purchase

of machinery & equipment. This project will lead to the creation of 7 full time positions and the retention of 1 full

time position within 3 years.


2013

Project name: DAIM Logistics, Inc.

128 Park Drive

Glen Canal View Business Park

Fultonville, NY 12072

Project type: PILOT

Exemptions


Real Property 367 3,014 4,466 7,847

Sales Tax

Mortgage Recording



2013 153 1,258 3,912 5,323

2012 58 511 560 1,129

2011 8 68 335 411

Employment


Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

0 16 0 16.0 16


Type of Debt:

Date of issue:

Interest rate:

Original Amount:

Monthly Payment:

Current:

Payment in Arrears:

Outstanding:

Beginning of year:

Issued during year:


Principal Balance:


Collateral:

Grants (Not Applicable to the Project)

Type of Grant:

Contract Date:

Grant Amount:

Project Description: This project consists of the acquistions of property located within Glen Canal View Business Park and the

construction of a 25,000 square foot warehouse, office and maintenance facility on an approximately 8 acre

site. This project will lead to the creation of 16 full time positions within 3 years.


2013

Project name: Dominion Transmissions, Inc.

P.O. Box 2450

445 West Main Street

Clarksburg, WV 26206

Project type: PILOT


Real Property 5,934

Sales Tax

Mortgage Recording


2013 13,106 63,281 135,466 211,853

2012 14,284 64,918 132,651 211,853

2011 14,687 63,422 133,744 211,853


Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

0 1 0 0 0 0

Type of Debt:

Date of issue:

Interest rate:

Original Amount:

Monthly Payment:

Current:

Payment in Arrears:

Outstanding:

Beginning of year:

Issued during year:


Principal Balance:


Collateral:

Type of Grant:

Contract Date:

Grant Amount:

Project Description: This project consisted of the acquisition of property located on Casler Road, Minden, the construction of

three buildings with a total of approximately 7,500 square feet, and the purchase of machinery and equipment.

This project will lead to the creation of 1 full time position.


Exemptions


Employment



2013

Project name: Embassy Millwork

3 Sam Stratton Road

Amsterdam, NY 12010




Real Property

Sales Tax

Mortgage Recording



2012

2011

2010

Taxes Paid

School

Town/County

City

** -$

Employment*


IDA Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

0 33 0 ** 0 0

**Failed to Report - Currently in Default

Debt




Original Amount: $300,000


Current: No

Payment in Arrears:

Outstanding:


Issued during year:




Collateral: The personal guaranty of Michael Caruso and 1st position on the equipment located at 3 Sam Stratton Road,

Amsterdam, NY


Type of Grant:

Contract Date:

Grant Amount:

Project Description: The proceeds of this loan were used to purchase machinery and equipment for the ProZone locker line.

This project will lead to the creation of 33 full time positions.


2013

Project name: Fiber Glass Industries

69 Edson Street

Amsterdam, NY 12010

Project type: BOND / PILOT


Real Property 6,539 8,278 12,618 27,435

Sales Tax

Mortgage Recording


2013 2802 2069 5408 10279

2012 909 0 1845 2754

2011 0 0 0 0

*PILOT in effect in on 20,000 square foot expansion portion only.

Taxes Paid

School 31,880$

Town/County 19,556$

City 16,948$

68,384$


Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created During

Year

FTE Jobs Retained

During Year

142 (2006 Bond) 3 (2006 Bond) 142 (2006 Bond) 136 0 136

150 (2009 Bond) 12 (2009 Bond) 150 (2009 Bond) 136 0 136

Type of Debt: Bond Agreement Type of Debt: Bond Agreement

Date of issue: 10/27/06 Date of issue: 03/16/09

Interest rate: 4.75% Interest rate: 6.97%

Original Amount: 3,250,000 Original Amount: 5,000,000

Outstanding: Outstanding:

Beginning of year: 447,407 Beginning of year: 2,844,520

Issued during year: Issued during year:

Principal Paid during year: 447,407 Principal Paid during year: 744,112

Principal Balance: - Principal Balance: 2,100,408

Final maturity date: 10/27/2013 Final maturity date: 4/1/2016

Type of Grant:

Contract Date:

Grant Amount:

Project Description: These projects consist of the issuance of tax exempt industrial development revenue bonds to facilitate projects

undertaken by Fiber Glass Industries. Both projects consist of the purchase of machinery and equipment to be located

at FGI's facilities located at 69 Edson Street and 1 Homestead Place, Amsterdam. The 2002 project will lead to the

creation of 4 full time positions and the retention of 138 full time positions. The 2006 project will lead to the creation of

3 full time positions and the retention of 142 full time positions.


Exemptions


Employment

Debt


2013

Project name: Green Fiber

78 South Pawling St.

Hagaman, NY 12086

Project type: GRANT



Real Property

Sales Tax

Mortgage Recording



2011

2010

2009

Taxes Paid

School 15,191$

Town/County 9,410$

Village 1,645$

26,246$

Employment


Involvement

Original Estimate Jobs

Created

Original Estimate Jobs

Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

36 1 36 37 0 37


Type of Debt:

Date of issue:

Interest rate:

Original Amount:

Monthly Payment:

Current:

Payment in Arrears:

Outstanding:

Beginning of year:

Issued during year:


Principal Balance:


Collateral:

Grants

Type of Grant: Empire State Development (Environmental Investment Program) - Completed

Contract Date: August 1, 2007

Grant Amount: $300,000

Project Description: This project involved the purchase of machinery and equipment as well as construction to

expand the Hagaman facility. As a result of this project, over 200 collection bins have been

placed throughout the Capital District to collect paper recyclables to be used as a raw

material by Green Fiber.


2013

Project name: Hero/ Beechnut

100 Hero Drive

Amsterdam, NY 12010

Project type: PILOT


Real Property 1,621,299 2,643,767 4,265,066

Sales Tax

Mortgage Recording


2013 24,000 390,400 585,600 2,500,000

2012 6,000 97,600 146,400 2,500,000

2011 2,500,000

Note: In 2013 employment holdback calculations were in effect.


IDA Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

356 136 356 285 8 285

Type of Debt:

Date of issue:

Interest rate:

Original Amount:

Monthly Payment:

Current:

Payment in Arrears:

Outstanding:

Beginning of year:

Issued during year:


Principal Balance:


Collateral:

Type of Grant:

Contract Date:

Grant Amount:

Project Description: This project consists of the acquisition of property located at 100 Hero Drive, Amsterdam, the construction of an

approximately 635,000 square foot facility and the purchase of machinery and equipment. Beechnut will be

relocating its manufacturing operations from Canajoharie and Fort Plain and its headquarters from St Louis, MO.

This project will result in the creation of 136 full time positions and the retention of 356 full time positions.

Grants

Exemptions


Employment



2013

Project name: HFM BOCES

2755 State Highway 67

Johnstown, NY 12095

Project type: BOND


Real Property -

Sales Tax

Mortgage Recording


2012

2011 -

2010

Taxes Paid

Exempt from Real Property Taxes


Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained During

Year

0 0 0 335 0 335

** Current employees increased by 62 due to the transfer of bus personal from individual school districts.

*Excludes substitutes and grant related employees. Total employment including these positions is 416.

Type of Debt: Bond Agreement



Original Amount: 29,500,000

Outstanding:

Beginning of year: 27,160,000



Principal Balance: 26,715,000


Type of Grant:

Contract Date:

Grant Amount:

Project Description: This project consists of the acquisition of property located at 2755 State Highway 67, Johnstown and the construction

of an approximately 150,000 facility as well as the purchase of machinery and equipment.




Employment

Debt


2013

Project name: Hanmondson Enterprises, LLC

5 Dandreano Drive

Amsterdam, NY 12010



Real Property

Sales Tax

Mortgage Recording


2012

2011

2010

Taxes Paid

School 3,380$

Town/County 1,050$

City 1,752$

6,182$


Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

29 10 29 32.0 3.0 32.0






Current: Yes

Payment in Arrears:

Outstanding:






Collateral: Co-equal first position on mortgage on the real property and improvements located at 5 Dandreano Drive, Amsterdam

and the personal guaranty of Bettina R. Dill

Type of Grant:

Contract Date:

Grant Amount:

Project Description: This project consists of the acquisition of property located on Dandreano Drive in the Edson Street Industrial Park

and the purchase of machinery and equipment. This property will lead to the creation of 5 full time positions and the

retention of 34 full time positions.




Employment

Debt


2013

Project name: Helmont Mills, Inc.

27 Lion Ave

St. Johnsville, NY 13452




Real Property

Sales Tax

Mortgage Recording



2011

2010

2009

Taxes Paid

School 35,197$

Town/County 27,024$

Village 29,073$

91,294$

Employment


IDA Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

75 13 75 73 6 73

Debt






Current: Yes

Payment in Arrears:

Outstanding:






Collateral: The personal guaranty of George G. Gehring and 1st position on equipment located at 27 Lion Avenue

St. Johnsville, NY


Type of Grant:

Contract Date:

Grant Amount:

Project Description: This project consists of the use of loan proceeds towards inventory, supplies and working capital. This project

will lead to the creation of 13 full time positions and the retention of 75 full time positions within 3 years.


2013

Project name: Hill & Markes, Inc/ Hill & Markes Realty, LLC

1975 Route 5S

Amsterdam, NY 12010

Project type: REVOLVING LOAN/ PILOT

Exemptions


Real Property -

Sales Tax -

Mortgage Recording



2013 1,071 13,068 30,766 43,834

2012 557 17,473 18,030

2011 557 557

*PILOT agreement applies to new facility at 1997 State Hwy 5S.

Taxes Paid*

School 31,685$

Town/County 23,917$

Total 55,602$

*120 Edson Street Facility

Employment


IDA Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

141 48 141 161 161

Debt






Current: Yes

Payment in Arrears:

Outstanding:


Issued during year:




Collateral: The personal guaranty of Andrea Packer, Neal Packer and Jeffrey Finkle and third position on real estate

located at 120 Edson Street and 1975 State Hwy. 5S, Amsterdam and all other assets associated with

with a value of at least $500,000.


Type of Grant:

Contract Date:

Grant Amount:

Project Description: This project consists of the construction of a new 115,000 square foot facility in the Florida Park Ext. This

project will lead to the creation of 48 full time positions and the retention of 141 full time positions within 3 years.


2013

Project name: M.H. Stallman Company, Inc.

Edson Street

Amsterdam, NY 12010




Real Property

Sales Tax

Mortgage Recording



2012

2011

2010

Taxes Paid


Employment


IDA Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

0 50 0 14 2 0

Employment total is as of 12/31/12 - No response received for 2013

Debt






Current: No

Payment in Arrears:

Outstanding:






Collateral: Vertical oven #1 located at Edson Street, Amsterdam, NY and personal guaranty.


Type of Grant:

Contract Date:

Grant Amount:

Project Description: This project consists of the purchase of equipment to integrate new manufacturing products. This project will

lead to the creation of 50 full time postions within 3 years.

** - Company moved to Amsterdam from St Johnsville in September 2012


2013

Project name: Mona Property Enterprises, LLC/ Power Pallet

4715 State Highway 30

Amsterdam, NY 12010

Project type: GRANT


Real Property

Sales Tax

Mortgage Recording


2012

2011

2010

Taxes Paid

School 40,439$

Town/County 29,666$

Total 70,105$


Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

120 65 120 171 26 178






Current: Yes

Payment in Arrears: -

Outstanding:




Principal Balance: -


Collateral: 1st position on the UCC filing of the equipment known as the West Salem Grinder Model # 3456BH, VIN # 10404,

the machinery and equipment listed in the attached Exhibit E of the loan agreement, a 1st position on the UCC filing

of any and all machinery and equipment to be purchased with these funds in accordance to the existing agreement

with the Office for Community Renewal and a personal guaranty from Samuel Donadio, President/ CEO

Type of Grant: Office for Community Renewal (Project # 748ED604-07)

Contract Date: March 25, 2008

Grant Amount: $503,500

Project Description: The grant was awarded to Montgomery County to provide a loan to the company. Loan payments will be added to

the County's Revolving Loan Fund. The loan is to be used for the addition of a second production line at the

Amsterdam facility with the expectation to expand their market beyond its current 200 mile radius. This project will

lead to the creation of 65 full time positionsand the retention of 120 full time positions.

The company is currently making interest only payments pursuant to an amendment to the loan agreement.

Employment number requirements met; loan closed.

Grants



Employment

Debt


2013

Project name: Noteworthy

100 Church Street

Amsterdam, NY 12010

Project type: BOND

Exemptions (Not applicable to this project)


Real Property

Sales Tax

Mortgage Recording

Payment in Lieu of Taxes (Not applicable to this project)


2012

2011

2010

Taxes paid

School 14,483$

Town/ County 8,834$

City 8,231$

31,548$

Employment


Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees*

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

64 0 64 113 0 113

*Company consolidated all operations within the City of

Amsterdam to the Forest Ave facility.

Debt

Type of Debt: Bond Agreement



Original Amount: $1,917,808

Outstanding:

Beginning of year: $880,250

Issued during year: 0

Principal Paid during year: $282,658

Principal Balance: $597,592



Type of Grant:

Contract Date:

Grant Amount:

Project Description: This project consisted of the issuance of $1,917,808 in tax-exempt industrial development revenue bonds to

facilitate a project undertaken by Noteworthy Industries. Noteworthy Industries purchased a new state of the

art Digital Printing press as well as other machinery and software. This project will result in the retention

of 64 full time positions.


2013

Project name: Save-A-Lot

River Street

Fort Plain, NY 13339


Exemptions (Not Applicable to this project)


Real Property

Sales Tax

Mortgage Recording

Payment in Lieu of Taxes (Not Applicable to this project)


2011

2010

2009

Taxes Paid

* Taxes not applicable - property is leased

Employment


Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

20 0 20 20 0 20

Debt






Current: Yes

Payment in Arrears:

Outstanding:

Beginning of year: -

Issued during year: 200,000

Principal Paid during year: -



Collateral: Collateral is property described as all machinery, equipment, fixtures, appliances, tools and funiture now owned

or acquired by grantor and wherever acquired, all inventory and products and proceeds, all accounts, contracts,

accounts receivables, chattel paper, instruments and documents, replacements and all substitutes.

Grants (Not applicable to this project)

Type of Grant:

Contract Date:

Grant Amount:

Project Description: This project is for the assitance in the reconstruction of the River Street Fort Plain store that was badly damage by

flood waters in June 2013. This funding sources will assist in the purchase of inventory, new register system, fixing

of the parking lot among other expenses associated with the rebuild.


2013

Project name: Richardson Brands Company

101 Erie Blvd

Canajoharie, NY 13317



Real Property

Sales Tax

Mortgage Recording


2011

2010

2009

Taxes Paid

School 63,549$

Town/County 43,423$

Village 34,302$

141,274$


Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

116 (2007 loan) 20 116 191 191

128 (2010 loan) 85 128 191 191

Type of Debt: Revolving Loan Revolving Loan

Date of issue: 5/3/2007 11/17/2010

Interest rate: 6.25% 4.25%

Original Amount: 300,000 100,000

Monthly Payment: 4,418.61 1,852.96

Current: Yes Yes

Payment in Arrears:

Outstanding:

Beginning of year: 71,708 60,893


Principal Paid during year: 49,956 20,034

Principal Balance: 21,752 40,859

Final maturity date: 5/3/2014 11/17/2015

Collateral: Co-equal third position on building located at 101 Erie Blvd, Canajoharie

Type of Grant:

Contract Date:

Grant Amount:

Project Description: This project consisted of the merger of Richardson Brands Company with its subsidiary Canajo Manufacturing

Corp. and the relocation of its corporate headquarters from Florida to Canajoharie. The first loan proceeds were

used to purchase replacement machinery and equipment due to flood damage. The first loan will lead to the

creation of 20 full time positions and the retention of 116 full time positions. The loan proceeds for the second

loan were used for working capital towards the aquistion and relocation of two separate manufacturing companies.

The second loan will lead to the creation of 85 full time positions and the retention of 128 full time positions within

within 3 years.




Employment

Debt


2013

Project name: Tres Locos

State Highway Route 5

Palatine Bridge, NY 13428




Real Property

Sales Tax

Mortgage Recording



2013

2012

2011

Taxes Paid

School 2,459$

Town/County 2,010$

Village -$

4,469$

Employment


Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

0 12 0 3 3 3

Debt






Current: Yes

Payment in Arrears:

Outstanding:






Collateral: Personal Guarantees of Anne McCarty along with a 1st position on all kitchen equipment and smallware in addition to a 2nd mortgage of RE


Type of Grant:

Contract Date:

Grant Amount:

Project Description: This project consists of the renovation of an existing location on Route 5, Palatine Bridge to form a Mexican/American Restaurant

creating 12 FTE's.


2013

Project name: Target Corporation

T3802

1800 State Highway 5S

Amsterdam, NY 12010

Project type: PILOT/ GRANT


Real Property 660,923 1,211,626 1,872,549

Sales Tax

Mortgage Recording

2003 Project Town County School Sub-total Total PILOT Payment

2013 30,000 788,000 1,182,000 2,000,000 2,000,000

2012 30,000 638,240 957,360 1,625,600 2,000,000

2011 30,000 634,560 951,840 1,616,400 2,000,000

2010 Project Town County School Total PILOT Payment

2013 2,155 33,772 556,557 592,484


Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

0 (2003 project) 690 0 541 0 541

541 (2010 project) 0 541 541 0 541

*peak employment November 2013, includes 58 seasonal employees

Type of Debt:

Date of issue:

Interest rate:

Original Amount:

Monthly Payment:

Current:

Payment in Arrears:

Outstanding:

Beginning of year:

Issued during year:


Principal Balance:


Collateral:

Type of Grant:

Contract Date:

Grant Amount:

Project Description: The 2003 project consists of the acquisition of an approximately 1,500,000 square foot facility and property located

at 1800 State Highway 5S. The grant awarded by the Office of Small Cities was for the purchase of machinery and

equipment. This project will lead to the creation of 690 full time positions.

The 2010 project consists of the construction of a 470,000 square foot addition to the existing facility.


Grants

Exemptions


Employment


2013

Project name: Vida-Blend, Inc.

1430 NYS Highway 5S

Amsterdam, NY 12010


Exemptions (Not applicable to this project)


Real Property

Sales Tax

Mortgage Recording

Payment in Lieu of Taxes (Not applicable to this project)


2012

2011

2010

Taxes Paid


Employment


Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

0 14 0 5 3 4.00

Debt






Current: Yes

Payment in Arrears:

Outstanding:


Issued during year:




Collateral: The personal guarantees of Mr. James Flacke and Mr. Braulio (Freddy) Luna and a 1st position on equipment

located at 1430 NYS Highway 5S, Amsterdam, NY


Type of Grant:

Contract Date:

Grant Amount:

Project Description: This project consists of the renovation of an existing building located on Route 5S, Amsterdam to create a new

manufacturing facility for the production of nutrient premix. This project will lead to the creation of 14 full time

positions within the first three years.


2013

Project name: West Main Street Specialities, LLC

165 West Main Street

Amsterdam, NY 12010




Real Property

Sales Tax

Mortgage Recording



2012

2011

2010

Taxes Paid

School 2,748$

Town/County 1,297$

City 4,236$

8,281$

Employment


IDA Involvement

Original Estimate

Jobs Created

Original Estimate

Jobs Retained

Current FTE

Employees

FTE Jobs Created

During Year

FTE Jobs Retained

During Year

15 4 15 11.00 11.00

Debt






Current: No

Payment in Arrears:

Outstanding:






Collateral: Real estate located at 165 W. Main Street, Amsterdam and Personal Guaranty of Charles Heath and Diane Heath


Type of Grant:

Contract Date:

Grant Amount:

Project Description: The proceeds of this loan were used toward the purchase of real estate (165 W. Main St) and the exisitng business,

Cameo Productions. This project will lead to the creation of 4 full time positions and the retention of 15 full time

positions within 3 years.

Historical Employment* For Current Montgomery County Business Development Center Projects

Company (Project Inception) Original Projections 2013 2012 2011 2010 2009 2008 2007 2006

Alpin Haus (1986) 76 69** 70* 54** 50** 48** 59

Breton Industries (1990) 43 created, 92 retained 73 105 106 92 116 106 128

Carolina Clubs (2009) 7 created, 1 retained 0 0 1 2 1

DAIM Logistics, Inc. (2009) 16 created 16 20 19.5 10 0

Dominion Transmission, Inc. (2001) 1 created 0 0 0 0 0 0 0 0

Embassy Millwork (2012) 33 created Default Failed to Report 10

Fiber Glass Industries (2006) 3 created, 142 retained 136 164 175 166 157 157 150

Fiber Glass Industries (2009) 12 created, 150 retained 136 164 175 166 157 157 150

Green Fiber (2007) 1 created, 36 retained 37 36 36 48 43 48 36

Hanmondson Enterprises, LLC (2004) 10 created, 29 retained 32 23 25.5 25.5 33 36 35 30

Helmont Mills (2010) 13 created, 75 retained 73 71 69 72.4

Hero/ Beechnut (2008) 136 created, 356 retained 285 303 395 464 477 473 356

HFM BOCES (2005) 335 273 297.5 325 337 419 420

Hill & Markes (2010) 48 created, 141 retained 161 168 161 160

M.H. Stallman (2010) 50 created 14 12 12 12

Mona Properties Enterprises, LLC (2008) 65 created, 120 retained 178 152 141 147 150 145 120

Noteworthy (2008) 64 retained 49 49 49 54 54 62

Richardson Brands (2007) 20 created, 116 retained 191 208 171 166 127 91 140

Richardson Brands (2010) 85 created, 128 retained 191 208 171 166 127 91 140

Sav A Lot 20 Retained 20

Target Corporation (2005) 690 created 582 589 682** 697** 618** 572 591

Tres Locos 12 created 3

VidaBlend (2011) 14 created 4 1 2

West Main Street Specialities (2010) 4 created, 19 retained 11 11 11.64 Failed to Report

*Job creation/ retention numbers listed as FTEs except where noted.

**Annual peak employment # includes seasonal employees

Note: Job creation commitments follow the 1+3 model where company making job creation commitments has 1 year to complete project, usually includes

investments in machinery, equipment and real estate, and company is then allowed over the following 3 years to ramp up and achieve the capital investment

and job creation commitments made as a part of the original commitment and from an investment / jobs monitoring perspective.

he following is a detailed summary of active projects undertaken by the Montgomery The

Montgomery County Business

Development Center

Old County Courthouse

9 Park Street, P.O. Box 1500

Fonda, NY 12068

Tel: 518.853.8334

Fax: 518.853.8336

www.mcbdc.org


Annual Report 2012

business development center montgomery county€¦ · services, upon county approval. a resolution...

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