There are a number of incentives at the county, regional and state level that are put in place to help businesses launch, relocate or improve what’s already existing.
- Jefferson County’s Microenterprise Loan Fund provides below market rate financing for all capital needs of small businesses (5 or fewer employees). The maximum loan amount is $40,000 or 50% of total project costs, whichever is less.
- Revolving Loan Fund for manufacturing businesses in the amount of $25,000 – $200,000 or 50% of total project costs, whichever is less.
- Industrial Loan Bonds promote economic growth through issuing tax exempt or taxable industrial revenue bonds for businesses that wish to locate or expand their operations to Jefferson County. This financing offers competitive interest rates, potential for 100% financing and financing for projects $1,000,000 and larger.
- The North Country Alliance provides loans for fixed assets and working capital to businesses (with less than 100 employees) from $25,000. Loans are limited to a maximum of 40% of total project costs.
- The Watertown Loan Fund provides fixed asset financing and will also consider working capital letter of credit guarantees.
Click Links to Download Financing Applications:
Public Financing Programs at a Glance