State provides loan funds for tourism facilities
NEW YORK – Empire State Development’s Board of Directors on Monday approved $40,142,296 in funding for economic development projects, including North Country loan funds for tourism infrastructure – from hotels to shops to arts centers – and digital movie conversion.
The following two funding sources are for the state’s North Country region, which consists of Jefferson, Lewis, St. Lawrence, Essex, Franklin, Hamilton and Clinton counties.
$2 million for Community Tourism Transformation Fund – The Development Authority of the North Country plans to establish and manage a revolving loan fund to develop tourism facilities. New and existing businesses may apply for funding to develop tourism infrastructure, including lodging, restaurants, retail, recreation, arts and cultural venues.
$400,000 for Digital Film Conversion Fund – DANC plans to establish and manage a revolving loan fund for North Country movie theaters to purchase digital film projection equipment.
Statewide, ESD expects more than 1,430 new jobs to be created and more than 2,350 jobs retained through the projects the board agreed to fund at its meeting Monday in New York City.