The Saratoga County Industrial Development Agency is ready to put money behind a desire to see new industrial parks developed in the county.
The agency is working on a new policy to let some of its $1.5 million fund balance be used for the initial design costs of industrial parks.
“It’s important for us to have that $1.5 million out there working for someone,” IDA Chairman Raymond F. Callanan said Monday, after a meeting in Ballston Spa.
By law the fund balance, which comes from application and financing fees paid by companies that receive IDA financing, must be used for projects that promote new economic activity.
IDA officials say incentives are needed for more industrial parks in the county, to give small businesses places to locate.
Categories: -News-
