THE DEVELOPMENT CORPORATION :: Our Business Community :: Corporate Relocation Services, Commercial Real Estate, Warehousing and Storage

In 1969, New York State enacted legislation that established Industrial Development Agencies (IDAs) as a resource to encourage and strengthen business development for the public’s benefit. At their core, IDAs promote economic growth and sustainable development by providing initial financial assistance to businesses that are dedicated to creating jobs and growing the local economy. Revenue Bond Financing (IRBs), sale-leaseback transactions and tax abatements are benefits companies can access as sanctioned IDA projects.

The County of Clinton Industrial Development Agency (CCIDA), which is administered by The Development Corporation on the County’s behalf, has been in operation since 1971. Over the years, the CCIDA has been instrumental in helping businesses create and retain jobs for the benefit of the local workforce. Some of these projects include, but are not limited to: Saranac Power Partners co-generation plant and its companion natural gas pipeline project, the Bombardier and Novabus assembly plants, several major CVPH Medical Center construction projects and the Noble Environmental Power Wind Turbine projects. Many of these endeavors were made possible because the CCIDA was able to provide the necessary financial structure to help with project construction, while others were enhanced by the Agency’s ability to bring the affected taxing jurisdictions to a consensus over tax abatement issues. The Agency has a seven member board appointed by the Clinton County Legislature.

Recently, the CCIDA has been involved with the renegotiation of the existing PILOT (payment in-lieu of tax) agreement with Clinton County, the Town of Plattsburgh, the Beekmantown School District and Saranac Power Partners (SPP), LLC; formally known as Falcon Seaboard. SPP in the process of changing its power production model and as such modifications to the original PILOT agreement needed to be considered. The amended PILOT will position the company to continue to operate in Clinton County, and at the same time, meet the needs of the affected taxing jurisdictions.