NORWICH – The U.S.’s economic outlook is far from rosy as 2008 winds to a close. With more large scale layoffs, manufacturing slow-downs and bankruptcies being announced daily, it is easy to be discouraged. There are, however, some positive points on the horizon in our corner of the world.
In a meeting of the Chenango County Industrial Development Agency earlier this week, Executive Director Maureen Carpenter updated the board on the progress of several potential economic development projects in the works.
“There’s a lot going on,” said Carpenter, as she discussed potential projects in Norwich, Sherburne and elsewhere in Chenango County. As none of the deals have been finalized, the executive director said she could not discuss the names of specific companies involved.
The fate of the P&G facility at Woods Corners has been of concern for the community.
“We have several interested parties,” said Carpenter. One of which, she said, has already made an offer which they are looking to revise.
Another group, this one from Canada, sent representatives down last week to look at the facility. The company is currently housed in a business incubator in the Toronto area and is looking to relocate.
“It’s very tight competition with Toronto,” Carpenter said. Not only would the proximity make for an easier move for the company, but the city also provides “very good incentives” for businesses.
Carpenter also mentioned a third group who has made inquiries through the New Jersey-based brokerage firm handling the property.
There may also be good news for Sherburne, she added. A foreign manufacturer of 100 percent energy efficient homes is interested in the “purchase of Lok-N-Logs and all of their assets,” Carpenter explained, which includes the Cotton Mill.
“They are still a negotiating, but it seems like it will be a go.”
The takeover of the struggling log home manufacturer would not only retain the company’s current 35 jobs, but could create as many as 65 new jobs over the next three years.
Carpenter said the county is considering applying for a Community Development Block Grant through New York State’s Office of Community Renewal on behalf of the company. The matter will be discussed by the Board of Supervisors in January. If they decide to move forward with the plan, public meetings will be held later that month and in February.
Carpenter also discussed the possible expansion of one of the county’s existing manufacturers, which she declined to name.
“They already have a PILOT (Payment In Lieu of Taxes agreement) in place. They would be looking for a bond issuance for the purchase of equipment,” said Carpenter.
CCIDA Chairman Hugh Kearney, who also sits on the board of directors of the Bainbridge Development Corporation, reported that he is working with Assemblyman Pete Lopez to assist Bainbridge area business, Silicon Solar.
“We’re also trying to see if there is something we can do with Elmer’s,” he said, referring to the vacant Elmer’s Glue factory in the Town of Bainbridge.
“They keep reducing the price,” he commented, adding that perhaps there would be more interest as that price kept dropping.
Carpenter announced the creation of a new position in her office, that of Economic Development Specialist. The successful candidate will assume responsibility for business recruitment and infrastructure development. One of the first tasks for that person will be to compile a list of vacant commercial properties in the county.
The new position will complement that of Jennifer Tavares, business development and zone coordinator.
Carpenter said she hopes to have the new position filled by February.